[PRESS RELEASE – Zug, Switzerland, 6th January 2022]
Autonomy Network, an off-the-shelf decentralized automation protocol, is thrilled to introduce AutoSwap, the first-ever dApp to offer limit order, stop loss, impermanent loss protection, and recurring payment features for Binance Smart Chain-based DEXes such as PancakeSwap. The dApp will also be available on Ethereum, Polygon, Avalanche, Solana and other chains. It’s the first time that these features have become available in the entire DeFi ecosystem.
By offering features in DeFi that were available only on centralized exchanges until now, AutoSwap aims to help users better manage risk and boost returns without having to stare at the screen 24/7. Since the crypto markets are open around the clock, traders can automate their orders using Autonomy to stay active in the market even when they are asleep.
James Key, the co-founder of Autonomy Network, commented, “By introducing both limit orders and stop losses to DEXes for the first time ever on any blockchain, Autonomy has enabled DEXes to have the same features as centralized exchanges. Since most of crypto trading volume is not in market orders, this means that the main inhibitor of the growth of DEXes has been removed and is the final nail in the coffin for the dominance of centralized exchanges, allowing most of the volume to move over to DEXes.”
Leading DEXes on multiple blockchains have partnered with Autonomy to offer their users the same features available on centralized exchanges. With trading volumes of DEXes growing exponentially, lack of automated solutions such as limit orders, stop losses, recurring payments, and impermanent loss protection had become a real pain point for DeFi users.
SokuSwap, a multi-chain decentralized exchange, has successfully integrated Autonomy on the Binance Smart Chain. Pangolin is integrating Autonomy’s limit orders, stop losses, and impermanent loss prevention features on Avalanche. It aims to improve its overall usability and provide better risk management to users and LPs by integrating Autonomy. Soon ApeSwap will also have Autonomy-powered limit orders on Binance Smart Chain.
Autonomy Network enables DeFi users to set up arbitrary actions to be triggered under arbitrary conditions, in a decentralized and guaranteed way. It is not just limited to trading. It could integrate with decentralized exchanges, lending protocols, DAO management tools, or even metaverse and NFT projects. For instance, SushiSwap’s lending platform Kashi has decided to natively integrate Autonomy to offer automating self-liquidations.
These integrations are happening even before Autonomy Network launches its token. The protocol is preparing for its Initial DEX Offering (IDO) in February.
About Autonomy Network
Autonomy Network is the leading decentralized automation protocol building critical automation infrastructure for Web3 dApps. Autonomy Network helps DEXes across Ethereum, Binance, Avalanche, Polygon, and other chains and Layer-2 solutions increase their volumes by enabling them to offer users a wider range of features such as limit orders, impermanent loss protection, recurring payments, and more.
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 25% off trading fees.
Credit: Source link
