Chainlink Automation incorporates Oku, which is a professional trading interface, in terms of the Uniswap v3 protocol. Through this incorporation, Oku will be in the position of utilizing the abilities of Chainlink Automation on Ethereum, as well as Polygon, Arbitrum, and Optimism. This will, in turn, help in bringing about safe and effective limit orders on Uniswap v3 markets. Further, the incorporation will make available new-age trading features and better user exposure throughout L2 networks, in the case of the Uniswap ecosystem.
Uniswap is not into backing limit orders and which proves to be a great inconvenience for traders. Oku’s aim is to offer the topmost trading exposure, wherein limit orders play a significant role. Oku’s limit order execution is functional, and traders within and out of Oku are able to get connected via the incorporation with Uniswap v3. The limit orders are all on-chain and non-custodial.
Oku honed in on Chainlink Automation to meet its limit order need because of its high level of dependability and popularity within the Web3 arena. The Chainlink Automation Network is run by a retinue of reliable node operators who manage to carry out massive volumes of transactions on DeFi. The framework ascertains that the limit orders that are implemented on Oku utilize one-sided liquidity and are exacting.
Oku, which has been created with the help of Uniswap Foundation funding, is a professional trading platform in terms of Uniswap V3 protocol. It was built for the purpose of linking DeFi with centralized exchanges and offering new-age trading activities.
Chainlink Automation, on the other hand, is a decentralized service platform that has been created to oversee work related to smart contracts. The entity utilizes decentralized automation nodes for activating smart contracts for carrying out sensitive on-chain activities. The incorporation of Chainlink Automation with Oku provides Uniswap users the opportunity to be able to implement limit orders and boost them further with regard to trading systems. Traders have the option to go for the other side of the limit.
The condensed liquidity of Uniswap V3 offers the option for liquidity providers to choose particular price limits like, between $1,000 and $3,000. Oku makes use of this attribute to provide limit offers by placing liquidity in one place inside of the selected range. Chainlink automation, in turn, is responsible for controlling the place. This helps users in using on-chain limit orders on every Uniswap V3 pool. In the near future, Oku will be backing further blockchains and bringing in more advanced order types like stop limit and TWAP orders.
Where Chinlink is concerned, it is the benchmark for the Web3 services platform. It has been responsible for carrying out enormous volumes of transactions throughout DeFi, as well as insurance, gaming, NFTs, and various more prime businesses.
Oku, on the other hand, is a futuristic and decentralized trading platform that has been created for the Uniswap V3 protocol. It provides new-age features such as live order books, as well as detailed price charts, new-age limit orders, and a customized market list.