Disclaimer: The text below is a press release that was not written by Cryptonews.com.
Zug, Switzerland, January 6, 2022,
Autonomy network, a decentralized out-of-the-box automation protocol, is pleased to introduce AutoSwap, the first dApp to offer limit orders, stop loss, impermanent loss protection, and recurring payment features for Binance Smart Chain-based DEXs like PancakeSwap. The dApp will also be available on Ethereum, Polygon, Avalanche, Solana, and other chains. It is the first time that these features are available across the entire DeFi ecosystem.
By offering features in DeFi that were only available on centralized exchanges until now, AutoSwap aims to help users better manage risk and increase returns without having to look at the screen 24/7. . Since the cryptocurrency markets are open 24 hours a day, traders can automate their orders using Autonomy to stay active in the market even when they are asleep.
James Key, Co-founder of Autonomy Network, commented: “By introducing both limit orders and stop losses on DEXes for the first time on any blockchain, Autonomy has enabled DEXs to have the same characteristics as centralized exchanges. Since most of the crypto trading volume is not on market orders, this means that DEX’s main growth inhibitor has been removed and is the final nail in the coffin for dominance of centralized exchanges, allowing have most of the volume move to DEXes. “
Leading DEXs across multiple blockchains have partnered with Autonomy to offer their users the same features available on centralized exchanges. With DEX trading volumes growing exponentially, the lack of automated solutions like limit orders, stop loss, recurring payments, and non-permanent loss protection had become a real problem for DeFi users.
SokuSwap, a multi-chain decentralized exchange, has successfully integrated Autonomy into Binance Smart Chain. Pangolin is integrating Autonomy limit orders, stop loss, and impermanent loss prevention features into Avalanche. Its goal is to improve its overall usability and provide better risk management to users and LPs by integrating Autonomy. Soon ApeSwap will also have Autonomy-driven limit orders on Binance Smart Chain.
Autonomy Network allows DeFi users to configure arbitrary actions to trigger under arbitrary conditions, in a decentralized and guaranteed way. It is not just limited to trade. It could be integrated with decentralized exchanges, loan protocols, DAO management tools, or even metaverse and NFT projects. For example, SushiSwap’s lending platform Kashi has decided to natively integrate Autonomy to offer automated self-assessments.
These integrations are happening even before the 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 that creates a critical automation infrastructure for Web3 dApps. Autonomy Network helps DEXs on Ethereum, Binance, Avalanche, Polygon, and other chains, and Layer-2 solutions increase their volumes by allowing them to offer users a broader range of features, such as limit orders, non-permanent loss protection, recurring payments and more.