Zug, Switzerland, 18th January, 2022, Chainwire
Autonomy Network, an off-the-shelf decentralized automation protocol, has officially integrated its AutoSwap dApp with Trader Joe on Avalanche, following its successful integration with the PancakeSwap on Binance Smart Chain (BSC). AutoSwap is the first ever dApp to offer limit order, stop loss, impermanent loss protection, and recurring payment features for Avalanche-based DEXes.
Avalanche has become one of the fastest growing blockchain ecosystems because it addresses the limitations of older blockchain platforms, including scalability, centralization, and slow transaction speeds. So, it made sense for Autonomy Network to add support for Avalanche.
Autonomy Network’s AutoSwap now offers limit orders and stop losses to users on Trader Joe, the largest decentralized exchange on Avalanche by total value locked (TVL).
“Advanced trading features have been built on top of Trader Joe using Autonomy, unlocking the ability for the Trader Joe community to enhance and automate their trading experience, using limit orders and stop losses.” said Blue, the Marketing Lead at Trader Joe. The founding team of Trader Joe remains anonymous.
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.
James Key, the founder of Autonomy Network, commented, “Advanced trading features are the key for DEX volume to overtake the volume of centralized exchanges, and it’s awesome to see it happening already with market leaders like Trader Joe already!”
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.
Autonomy is the first fully decentralized and permissionless automation tool, powering Web3 builders and developers with on-chain conditional execution. It enables DeFi users to set up arbitrary actions to be triggered under arbitrary conditions, in a decentralized and guaranteed way. Autonomy 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.
- James Key