VWAP (volume-weighted avg)

What it does: schedules execution in proportion to historical or expected volume patterns to target a volume-weighted average price.

Typical use: benchmark-style execution when you care about tracking a volume-weighted reference.

Key parameters: total quantity and time window (plus optional price bounds and participation controls where available).

Tradeoff: aims to blend with market liquidity, but can drift if real-time volume diverges from the assumed pattern.

Example: buy 10 btc over 2 hours via vwap; more size executes during historically higher-volume periods to better match typical market flow.