# TWAP

TWAP (Time-Weighted Average Price) lets you execute large trades over time by splitting them into smaller chunks and sending them at regular intervals. This reduces market impact and helps you get a better average price.

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### Why use TWAP on Liquid?

* **Low fees**\
  Liquid offers some of the lowest taker fees in the market.
* **Smart execution**\
  Orders can be randomized in time to prevent front-running and execution manipulation.
* **Smoother fills**\
  Avoid large, sudden trades that can move the market against you.

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### What is Slippage?

**Slippage** is the difference between the price you intended to trade at and the price you actually get.\
TWAP helps minimize slippage by spreading your order over time and reducing price impact.