Chainlink Keepers is a decentralized smart contract automation service that’s accelerating DeFi’s capabilities by regularly and reliably triggering time- and event-based tasks, such as executing limit orders on DEXs, liquidating undercollateralized loans, and releasing locked assets after periods of inactivity.
A growing number of DeFi protocols, such as bZx, xToken, Teneo, and Pacoca, have integrated Keepers to save the time and cost associated with manually triggering these vital smart contract functions, thereby enhancing their user experience without sacrificing security or transparency.
Kromatika is a decentralized trading protocol that allows users to execute limit orders on top of the Uniswap DEX without swap fees, price slippage, or front-running bots. In January, Kromatika integrated Chainlink Keepers on Ethereum mainnet to automate limit orders and ultimately free its development team to focus on the roadmap for releasing the open-source protocol to be governed by a decentralized autonomous organization (DAO).
Last week, Kromatika expanded its Keepers integration to automate limit orders on Polygon. Kromatika’s team told Chainlink Today that Polygon’s layer-2 solution broadens the protocol’s user base with lower, more accessible gas fees.
“We have experienced a significant rise in users since deployment on Polygon,” they said. “We sincerely hope that the new incoming features will help more and more people in the DeFi landscape.”
Kromatika’s goal is to become one of the Ethereum ecosystem’s leading DEXs through features like automated limit orders, powered by Chainlink’s industry-leading blockchain-agnostic infrastructure.
“Now that this feature is implemented on Polygon, people may simply create their limit orders without staying in front of their computer,” the team told Chainlink Today. “Keepers will simply check 24/7 if your target price is reached or not.”
The team explained that by combining limit orders – a staple in traditional finance – with the ability to avoid front-running bots and swap fees while simultaneously earning liquidity provider fees creates a “CEX-like” environment that assists users moving from CEXs to DEXs.
In an official announcement, Kromatika summarized Chainlink’s fundamental role in DeFi’s multi-chain expansion, writing, “As a blockchain-agnostic decentralized oracle network, Chainlink helps us move fast toward our goal of bringing the Kromatika experience to the entire Ethereum ecosystem.”