CoTrader Integrates Chainlink Keepers to Automate Conditional Trading

CoTrader.com
4 min readFeb 14, 2022

We’re excited to announce that CoTrader, a multichain decentralized algorithmic investment fund, has integrated Chainlink Keepers live on Polygon and Binance Smart Chain mainnet. Other chains are also being added quickly; CoTrader already runs on three EVMs, with more to come. We have programmed Chainlink Keepers to securely and cost-efficiently automate conditional trading triggers. As a result, our protocol and users benefit from highly tested, responsive, and effective algo funds. Users are able to join these funds by clicking “Deposit” in this Cake algo fund on BSC and this Matic algo fund on Polygon

We decided to further decentralize CoTrader’s algo funds function by leveraging Chainlink Keepers, which are time-tested, provably reliable node operators that currently help secure tens of billions of dollars in DeFi by delivering updates even during record levels of network congestion and extreme volatility. The proven infrastructure of Chainlink helps ensure that every conditional trade is executed on-time in a trust-minimized manner, giving users additional guarantees that it will function exactly as intended.

CoTrader’s decentralized algo funds analyze DEX pair fundamentals such as TVL/price ratio changes and trades accordingly. This is especially performant when applied to a DEX’s own token pairs (such as CAKE pairs on BSC, or MATIC on Polygon) because total value locked (TVL) represents the performance of the DEX which that token represents. We’ve optimized these algorithms for trigger and trade sizes with backtests over several time periods for the best results. While past performance does not predict future results, our fundamentals-based algorithmic trading offers users a way to apply a rational, safe, and automated method to accumulate specific tokens of interest.

Chainlink Keepers helps us trigger our contracts in a decentralized way that does not rely on our own servers, helping ensure that contract executions will be done reliably on time in a safe, affordable, and transparent manner.

Chainlink Keepers is a decentralized smart contract automation solution purpose-built to manage tasks on behalf of smart contracts. Chainlink Keepers serve as a decentralized, hyper-reliable, and economically incentivized automation bot that wakes up smart contracts when they need to perform critical on-chain functions, which usually take place at regular time intervals (e.g., every day at the same time) or based on external events (e.g., when a protocol’s TVL hits a specific level).

Some of the notable features of Chainlink Keepers include:

  • High Uptime — Chainlink Keepers are run by the same professional DevOps teams that have an established on-chain performance history of providing high reliability to Chainlink Price Feeds during extreme network congestion and market volatility.
  • Low Costs — Chainlink Keepers have several gas-optimizing features that lower the costs of automating maintenance tasks for users, including a rotating node selection process to prevent gas price auction wars and stabilize costs.
  • Decentralized Execution — Chainlink leverages a decentralized and transparent pool of Keepers to help provide strong guarantees around secure contract automation, saving teams time and mitigating the risks around manual interventions or centralized servers.
  • Expandable Computation — Chainlink Keepers perform off-chain computations and generate calldata verifiable by smart contracts, allowing developers to build advanced, trust-minimized dApps at lower costs.

The decision to use Chainlink Keepers was easy — it’s the industry standard for decentralized, reliable, and cost-efficient DevOps automation. Chainlink Keepers empower dApps by not only incorporating off-chain oracle data, but also by offloading expensive gas-heavy computations for condition verification tests to the Keepers off-chain decentralized network.

“Automation is key for building a scalable trading strategy, and especially important for automatic execution of key smart contract functions in CoTrader’s decentralized algo funds. We’re excited to further decentralize some of CoTrader’s key functionality, and we think users will be much better and confident in our services for it.” — The CoTrader Team.

About Chainlink

Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.

Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link. To discuss an integration, reach out to an expert.

About CoTrader

CoTrader is an audited, decentralized, multi-chain, time-tested, and battle-proven blockchain investments platform that decouples fund management from custodianship that performanced based fees, blockchain transparency, and the ability of investors to add or remove funds from any trader at any time.

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