Autonomy Network, a DeFi protocol , announced that a new decentralized application (DApp), known as “AutoSwap”, was launched on the Binance Smart Chain network . AutoSwap, a decentralized application (DApp) that prevents losses, limits orders and prevents impermanent loss, is the first to do so.
AutoSwap is available not only on the Binance Smart Chain Blockchain network. The DApp can also be found on major blockchains like Solana and Polygon that allow for decentralized application development. AutoSwap is a major development in the DeFi ecosystem. The DApp will be available for the first time on decentralized exchanges. Loss protection, stop-loss, and limit order features were only available to centralized exchanges. Decentralized exchanges now have these features, which allows DEX traders to increase returns and better manage their risks. They don’t need to be able to see the screen 24 hours a day. Autonomy Network, a standard-issue decentralized automation protocol, allows crypto users to automate orders and keep them active even while they sleep.
With the rapid growth of trading volumes on decentralized exchanges, automation solutions like recurring payment, loss prevention, stop losses and limit orders were a problem. Many decentralized exchanges have teamed up with Autonomy Network in order to offer their users the same features as centralized exchanges. SokuSwap, a decentralized exchange, has integrated Autonomy Network into its Binance Smart Chain network. Pangolin’s decentralized exchange has integrated Autonomy’s impermanent loss prevention, stoploss, and limit orders features onto its Avalanche network. Pangolin integrates the Autonomy Network to enhance its usability and offer liquidity provider tokens and users better risk management. ApeSwap is soon to integrate Autonomy-powered limit order on its Binance Smart Chain network.
Autonomy Network automates trading but it’s more than that. It can be integrated into DAO management software, lending protocols, NFT project and metaverse projects to allow for arbitrary actions to trigger under arbitrary conditions. SushiSwap’s margin trading platform Kashi has integrated the Autonomy Network for self-liquidations.