Yes, you can create multiple limit orders for the same token pair. Let us explain with the help of an example:
Nakamoto has 3 WBTC (Current rate: 11,000 DAI) in his wallet and he wants to swap WBTC → DAI.
- He then creates his 2nd limit order “Swap 1 WBTC → DAI @ 12,000”.
This situation is acceptable and Nakamoto’s limit orders will be executed in FIFO (First in First Out) sequence.
- Nakamoto submits his 3rd order “Swap 1 WBTC → DAI @ 11,700”.
Now, this is a tricky situation. You might think that Nakamoto’s 3rd order will be executed before his 2nd (as the rate of DAI @ 11,700 will hit before 12,000).
However, to reduce complexity, his 3rd order will not be accepted by KyberSwap and the user will be prompted to cancel the 2nd order before submitting “Swap 1 WBTC → DAI @ 11,700”.
In short, users can submit multiple limit orders for the same token pair, as long as the rates follow a FIFO sequence.