How does the order placement and execution process work on HootDex?

This is pretty simple, automated market makers create the bid and ask for any digital asset on HootDex.

Market orders do execute at market prices on HootDex.

Limit orders are all Good Until Cancelled, they will execute at the limit price set by the trader. High Frequency Trading uses limit orders in a rapid fire environment but follow similar protocols. Such trading is dependent on the system that the trader may use.