Antimatter Finance Integrates Chainlink Keepers to Offer Automated Limit Orders for its Non-Fungible Finance Services
We are excited to announce our successful integration of Chainlink Keepers, giving Antimatter users the ability to place limit orders for financial NFTs on our platform. Chainlink Keepers is a decentralized service for automating smart contract tasks based on predefined conditions like the passage of time and market events. Antimatter is using Chainlink Keepers to trigger the execution of limit orders when asset prices hit user-defined thresholds, ultimately improving the user experience while staying true to the core blockchain values of trust minimization and security.
We chose Chainlink Keepers because its oracle infrastructure is the most time-tested in the blockchain industry, already helping to secure tens of billions of dollars in value across decentralized finance (DeFi). By integrating Chainlink Keepers, users can have greater confidence that their limit orders will execute on-time and based on current market conditions, even during periods of extreme market volatility and network congestion. Users can simply place their orders and wait for them to execute, even when they’re offline.
Leveraging Chainlink Keepers on Antimatter Mainnet
Index (ETF) NFT is the core component of Antimatter’s non-fungible finance services, which allows people to trade indexes in NFT format with a variety of underlying asset combinations. Anyone can create indexes in a permission-less way with Antimatter’s Index NFTs.
With the recent explosive development and adoption of Chainlink, we have decided to add Chainlink Keepers to our platform so users can place limit orders on options contracts with no time expiration — a critical blockchain-powered innovation, given that most traditional options contracts have a set expiration date.
Chainlink Keepers provides Antimatter with a decentralized network of nodes that are financially incentivized to perform all registered jobs without competing with one another. Chainlink Keepers are important because limit orders generally can’t be automated on-chain. Instead, they must be handled by an off-chain keepers service due to smart contracts’ inability to self-execute.
Here’s how it works.
- A user sets a specific price in which they want to buy or sell a financial NFT.
- Chainlink Keepers monitor the price of the ETF NFT contract using off-chain computation, and will call the Antimatter smart contract to trigger the execution of the user-inputted order if it crosses the pre-set threshold.
- Antimatter’s smart contract verifies the Keeper’s computation to ensure that the predefined condition is true (i.e., the price crossed a certain threshold).
- If true, the order executes without requiring any manual input.
After considering a variety of alternatives, we decided to move forward with Chainlink Keepers because it’s optimized around several key features:
- 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, even amidst unexpected and volatile market events.
- 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.
Ultimately, this integration will improve the user experience of Antimatter’s non-fungible finance services, and allow users to definitely set their exit or entry points. Whether for hedging, profit, or some other reason — users now have more robust infrastructure in place to help ensure their trades execute exactly as inputted in an automated manner.
In the future, Antimatter will explore other Chainlink oracle technology that can further increase derivatives functionality and improve the trading services provided by our DAO members.
“The Antimatter community is working to build an on-chain ecosystem of cutting-edge financial products. Using Chainlink Keepers enables us to provide critical services that increase the utility and reliability of our perpetual options protocol. Not to mention, the integration process was seamless, saving us precious development time and resources.” — the AntiMatter Team.
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.
Antimatter is a hub for decentralized on-chain financial products (such as derivatives and financial NFTs). One of our first innovations is the non-oracle based perpetual options. Being community driven, innovative and simple forms the core of AntiMatter.