Automated Trading Tools Come to the Avalanche's DeFi Economy With Autonomy Network by@ishantech

Automated Trading Tools Come to the Avalanche's DeFi Economy With Autonomy Network

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IshanOnTech

Covering the latest events, insights and views in the Web3 ecosystem.

Bringing Trading Sophistication to Avalanche’s DeFi Ecosystem

The absence of sophisticated and automated trading solutions like limit orders, stop losses, recurring payments, and impermanent loss protection when using DEXes has become a genuine pain for DeFi users as the trading activity of DEXes increases tremendously. Autonomy Network integrated Autoswap, a decentralized automated solution that provides trading tools to Trader Joe, bringing automated trading to the Avalance DeFi ecosystem – the biggest decentralized exchange in terms of total value locked (TVL).

Avalanche has developed to be one of the fastest-growing blockchain ecosystems because of its emphasis on scale, decentralization, and transaction speeds. There aren’t many advanced trading tools and charts to be found on DEXs. Even newcomers trying to navigate DeFi’s intricate technicalities will be interested in utilizing these tools.

James Key, the founder of Autonomy Network, said:

Advanced trading features are the key for DEX volume to overtake the volume of centralized exchanges, and it’s awesome to see it happening already with market leaders like Trader Joe already!

Autonomy Network jumped in to fill the gaps left by DEXs, focusing on the pillars of service quality mentioned above. The protocol combines the greatest features of existing exchanges to create a seamless and intelligent crypto trading desk that will end this long-standing rivalry. This enables DEXs to operate similarly to centralized exchanges or conventional brokerage platforms, making them more popular among investors and recommended to newcomers.

Avalanche Joins the War between Ethereum and Solana

Avalanche (AVAX) is a blockchain platform with smart contracts that focuses on transaction speed, low costs, and environmental friendliness. Avalanche’s ultimate goal is to create a highly scalable blockchain that doesn’t compromise decentralization or security.

Bitcoin’s Proof of Work consensus causes transactions to be delayed and expensive. Decentralization is hampered by the time and resources required to validate PoW chains. The usage of blockchain is accelerating, necessitating scalable solutions. Because there were so few people using Bitcoin when it first began in 2009, the technological restrictions were less of a concern. However, decentralized finance and the adoption of NFTs have drastically altered the blockchain scene today. Avalanche is now being

The Exchange Chain (X-Chain) is the blockchain that allows Avalanche assets to be created and traded. Fees are paid in AVAX for transactions on the X-Chain. This is comparable to how Ethereum gas costs are paid in ETH. Fees are always paid in AVAX, even if you’re dealing with JOE tokens.

According to some estimates, around 100 million individuals were utilizing cryptocurrencies by the start of 2021. Similarly, the value of DeFi applications has risen to well over $100 billion. Smart contract-enabled blockchains like Ethereum and Solana are experiencing network congestion and outages as a result of their exponential development.

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