Bastion Protocol Launches Flashswap
Bastion Protocol Launches Flashswap, an open-sourced, performant, liquidation bot enabling capital liquidations on lending protocols.
This move aligns strongly with one of Bastion’s major missions: to democratize access to all parts of the decentralized finance stack.
Bastion Protocol Launches Flashswap
Many lending protocols gate their liquidators to first-parties only. Bastion was already open to third party liquidators to ensure decentralization and security during volatile times. Today, they share a custom implementation of Flashswap which requires zero capital to run such that even the average user can run a liquidation bot on the platform themselves. This implementation identifies potential liquidatable positions and sources liquidity from local decentralized exchanges such as Trisolaris to perform safe liquidations without requiring capital.
About Bastion
Bastion is a Lending and Stableswap protocol built on Aurora, NEAR’s EVM-compatible layer. The project innovates with novel features such as: isolated markets, interest rate swaps, increased receipt token utility, veTokens, gauges, and boosters. Building on Aurora enables Bastion to create an autonomous interest-rate engine with superior capital efficiency, low slippage swaps, fast transactions, ultra-low fees, precise liquidations, and harness the underlying UX benefits of NEAR.
🔹Supply assets to earn interest
SOURCE:
https://bastionprotocol.medium.com/flashswap-liquidation-bot-be4062d2b228
