The network has also recently launched its own ambassador program that allows users to become autonomists in its community.
Web3.0 DeFi Automation on BSC
The decentralized automation protocol, Autonomy, has launched the decentralized application (dApp), AutoSwap, on the Binance Smart Chain (BSC).
The dApp can be used to offer features limit order, stop loss, impermanent loss protection, and recurring purchase on BSC-based decentralized exchanges (DEX) like PancakeSwap. These features are usually native to centralized exchanges.
“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,” commented James Key, the co-founder of Autonomy Network, in a statement to Mashable on January 6.
The protocol also plans to launch the dApp on Ethereum, Polygon, Avalanche, Solana, and other blockchain networks. Essentially, the application allows users to automate their exchange orders in a way to manage their risks and profits better.
“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,” continued Key.
The network has also launched its own ambassador program on Jan. 7, which enables users to become Autonomy Cyborgs. The “Cyborgs” will be expected to contribute to the community through different ways like building engagement, providing feedback, educating the community, and spreading the word about the protocol in general. In return, these members will be rewarded with several incentives like:
Whitelisting of AUTN token.
Monetary rewards up to $200 in stablecoins and possibilities of AUTN token allocation
Additional preference in the nest phase of the program for high performing Cyborgs
The Autonomy Network received a grant for an undisclosed amount from Polygon Foundation in September 2021 and recently kicked off a bug bounty program with Immunefi in December 2021.
What is Autonomy Network?
Autonomy Network is a decentralized, permissionless automation tool that aims to power Web3.0 builders and developers with on-chain conditional execution. Projects can utilize the protocol and its dApps, to automate features with DeFi, NFTs, DAOs, and the Metaverse. The BSC-based DEX SokuSwap has added limit orders by Autonomy on Oct. 29, as per the protocol’s Medium blog.
Find more about Autonomy Network here:
Website | Twitter | Documentation | Github | Medium | Discord |
Source : bsc.news
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