Gravity Finance ‘Silos Integrating Chainlink Automation

Published on: 21.04.2023
Gravity Finance ‘Silos Integrating Chainlink Automation

Gravity Finance has created a first-in-class DeFi automation product called ‘Silos’. Powered by Chainlink Automation, it’s live on Polygon mainnet from today.

Gravity Finance is leveraging Chainlink Automation to securely and cost-efficiently trigger the execution of DeFi tasks. As a result, Silos will seamlessly manage advanced DeFi strategies and tasks on behalf of their owner, through reliable automation.

Silos allow users to deploy personalised and fully automated DeFi tasks in seconds. Users can deploy a Silo (Smart Contract) from a catalogue of predefined strategies built by the Gravity team.

They decided to use Chainlink Automation to power the Silos automation functions because it is the most reliable and decentralised Web3 automation service available. Chainlink Automation monitors each block on the Polygon network and triggers predefined strategies to execute, if and when required. For non-critical tasks, users can set their strategies to update on a pre-set schedule, such as hourly, daily, weekly etc.

About Chainlink

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About Gravity Finance

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SOURCE:
https://gravityfinance.medium.com/gravity-finance-silos-a-ground-breaking-defi-product-integrating-chainlink-automation-73975d23d14b 

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