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Autonomy Network has launched a unique decentralized application (DApp) called AutoSwap on Binance Smart Chain (BSC).

The AutoSwap is the first-ever DApp that shall offer limit order, stop loss, loss protection, and recurring payment features for BSC decentralized exchanges (DEXes) like Pancakeswap.

Besides BSC, the AutoSwap shall also be available on most blockchains like Ethereum, Avalanche, Polygon, and Solana that support decentralized application development. The DApp marks a major development within the DeFi ecosystem since it is the first time that the features it is offering have become available for decentralized exchanges.

Limit orders, stop loss, and loss protection features were only available on centralized exchanges. Introducing them on decentralized exchanges enables DEX traders to better manage risk and boost returns without having to stare at the screen 24/7.

According to the co-founder of Autonomy Network, James Key:

“By introducing both limit orders and stop losses to DEXes for the first time ever on any blockchain, Autonomy has enabled DEXes to have the same features as centralized exchanges. Since most of crypto trading volume is not in market orders, this means that the main inhibitor of the growth of DEXes has been removed and is the final nail in the coffin for the dominance of centralized exchanges, allowing most of the volume to move over to DEXes.”

Lack of automation solutions like limit orders, stop losses, loss protection, and recurring payment was a real challenge especially with the exponentially growing trading volumes in DEXes. As a result, several lending DEXes have already partnered with Autonomy to allow their users experience the same features available on centralized exchanges.

Examples of DEXes that have integrated Autonomy include SokuSwap on Binance Smart Chain and Pangolin on Avalanche. ApeSwap on BSC is also on the way to integrating Autonomy.

By using Autonomy Network, which is an off-the-shelf decentralized automation protocol, crypto market traders can automate their orders to stay active even when the traders go to sleep. AutoSwap makes things even better by enabling the traders to better manage any losses.

Besides automating trading, Autonomy can be integrated into lending protocols, DAO management tools, metaverse projects, and NFT projects to set up arbitrary actions to be triggered under arbitrary conditions. SushiSwap’s lending platform Kashi is a perfect example. It has integrated Autonomy to offer automating self-liquidations.

It is important to note that all these developments are happening before Autonomy Network launches its native token. It has scheduled the Initial DEX Offering (IDO) of its token in February this year.

The post Autonomy Network launches AutoSwap, the first DApp to offer limit order and stop loss features for DEXes appeared first on Invezz.

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