ParaSwap Will Integrate Chainlink Keepers to Bring Limit Order Functionality
ParaSwap is pleased to announce that they will integrate Chainlink Keepers on Ethereum to bring limit order functionality to its DEX aggregator protocol. Chainlink Keepers use decentralized and provably reliable off-chain computation to monitor user-defined conditions and then call on-chain functions once conditions are satisfied. ParaSwap will leverage Chainlink Keepers to trigger the execution of users’ limit orders when asset prices cross predefined price points.
Chainlink Keepers provides a decentralized solution that is cost-effective, reliable, and upholds the same security guarantees of the blockchain. Chainlink Keepers will be used to monitor users’ limit orders off-chain against global asset prices and execute them on-chain in a verifiable way once certain price points are hit.
“Integrating Chainlink Keepers will enhance the trading experience on ParaSawp by empowering users to attach custom conditions to their trades. Given the historical reliability of Chainlink services and their optimizations around decentralization and low fees, our users will have a cost-efficient and highly reliable way to automate trades while still anchoring the security of limit order functions to the underlying blockchain.”—Mounir Benchemled, Founder of ParaSwap
ParaSwap is a DEX aggregator that routes users’ trades through one or multiple different DEXes to get them the best price with the least amount of slippage. Currently, ParaSwap is compatible with most of the major DEX’s, including Uniswap, SushiSwap, Bancor, Kyber Network, Curve, 0x, and more.
ABOUT CHAINLINK
Chainlink is the industry standard oracle network for powering hybrid smart contracts. Chainlink Decentralized Oracle Networks provide developers with the largest collection of high-quality data sources and secure off-chain computations to expand the capabilities of smart contracts on any blockchain. Managed by a global, decentralized community, Chainlink currently secures billions of dollars in value for smart contracts across decentralized finance (DeFi), insurance, gaming, and other major industries.
ABOUT PARASWAP
ParaSwap aggregates the liquidity of exchanges and lending pools to provide a comprehensive access point to Ethereum’s decentralized finance ecosystem.
RESOURCES
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