Matrixswap Partners With Gelato Network to Automate Functions Within Our Perpetual DEX
Matrixswap is truly ecstatic to announce a partnership with Gelato Network. Industry leaders like Uniswap, Quickswap, Instadapp, and many more projects utilize Gelato’s automation tools to solve unique development challenges within crypto.
Gelato enables everyone to leverage the power of a decentralized network of bots to help automate between different protocols on Ethereum and other blockchains.
Projects like Uniswap and Quickswap utilize Gelato to offer limit orders. Instadapp has also introduced Instadapp Actions to automate Maker ETH-A Vaults to refinance between different protocols to protect users from liquidation. And projects like Cono Finance offer users debt position liquidation protection by using Gelato.
Gelato Network & Matrixswap
So how will Matrixswap utilize Gelato’s services?
For our Perpetual DEX, every hour our perpetual system does a funding payment depending on whether the funding rate is positive or negative. Our insurance fund will either pay out or receive funding payments from traders. This specific funding action is triggered and automated by Gelato bots. Smart contracts include a set of functions that typically need to be called out manually. And since we can’t rely on a human to perform this specific action every hour, Gelato bots are the best solution to automating this action.
The Gelato bot has 2 primary functions — Check & Action. Funding Bot Perp will Check if the AMM’s next funding time is less than the current time. And its Action will call the AMM’s funding function.
To put it bluntly, Matrixswap’s Perpetual DEX will not function properly without these Gelato bots working in tandem.
Projects like Gelato solves a lot of development issues within crypto and we can’t be happier working with the team over at Gelato.
About Gelato Network
Gelato Network is Web3’s premier automation network, enabling developers to automate a wide variety of arbitrary smart contract executions on and across all EVM-based compatible blockchains such as Ethereum. Examples of use cases developers have built on top of Gelato include Limit Orders on AMMs like Uniswap, automatic compounding of yield farming vaults, Aave liquidation protection, MakerDAO debt ceiling updates, automated liquidity management, and even the petting of Aavegotchis.
Our ultimate goal is to automate everything and by giving developers the reliable tools they need to do this, we can empower their users to get the most out of their Web3 experience.
Matrixswap is a fully decentralized virtual-AMM-based perpetual swaps trading protocol deployed on the Polkadot, Cardano, and Polygon blockchains. Unlike traditional AMMs, users can long or short any assets’ perpetual contracts with up to 25x leverage. Matrixswap aims to be a fully community-owned and governed Defi protocol.
Use The Matrixswap DEX Aggregator on Polygon & BSC
Matrixswap’s DEX Aggregator is now LIVE on two different chains — Polygon & BSC (Binance Smart Chain). Trade all of your favorite assets within these two chains and enjoy the unique features Matrixswap has to offer.
Use it here — https://router.matrixswap.io/