Autonomy’s AutoSwap enables DEXs to offer limit-stop orders
Decentralized automation protocol, Autonomy Network has rolled out AutoSwap, a new dApp that introduces advanced tools and sophisticated functionalities to the entire DeFi ecosystem.
AutoSwap offers limit order, stop loss, impermanent loss protection, and recurring payment features to a wider range of DEXs within the Binance Smart Chain ecosystem, including PancakeSwap.
Decentralized exchanges are able to easily integrate AutoSwap into their platforms to increase their volume by offering a wider range of trading tools. The dApp will also be available on Ethereum, Polygon, Avalanche, Solana and other chains, helping them match their functionalities with those of centralized exchanges (CEXs).
“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,” the statement notes.
The integration is not limited to trading, though. In fact, Autonomy Network also offers generalized automation solution to automate any arbitrary conditions. 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 integrated Autonomy to offer automating self-liquidations. SokuSwap, a multi-chain decentralized exchange, also incorporated the protocol on the Binance Smart Chain, while Pangolin is integrating its features on Avalanche.
Combining the best of both worlds
DEXs typically lack sophisticated trading tools and charts. Most traders are interested in using these tools to make their decisions, let alone newbies when navigating DeFi complicated technicalities.
Considering the shortcomings and limitations of DEXs, Autonomy Network has stepped in with attention to the above pillars of service quality. The protocol combines the best aspects of these exchanges to bring a smooth and sophisticated crypto trading desk to solve this age-old feud. This helps DEXs function the same way as centralized exchanges, or even traditional brokerage platforms, making them more popular among investors and recommended to beginners.
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.”