Kromatika’s New Generation DEX Supported by Chainlink Keepers

By Kromatika | Kromatika | 24 Apr 2022


A few months ago, we had the chance to announce the successful integration of Chainlink Keepers into the Kromatika protocol. This marks a new milestone for Kromatika’s new generation protocol for decentralized trading because by integrating the industry-leading Chainlink Network, we can now securely and reliably automate limit order functionality in a decentralized environment.

The Problem

The problem with executing a limit order transaction on a decentralized exchange is that in order to be truly effective it needs to be executed at the right time. This is where Chainlink Keepers come in. Chainlink Keepers enable smart contracts to automate key functions and event-driven tasks in a highly reliable, decentralized, and cost-efficient manner.

This means that the Kromatika protocol can now be triggered by the Chainlink keeper network to execute limit orders when certain market conditions occur. In general, Chainlink Keepers allow Kromatika protocol to evolve around a super-reliable approach to decentralized smart contract automation.

The Solution

Integrating Chainlink Keepers into the Kromatika protocol opens up a wide range of possibilities when it comes to decentralized trading and the overall cost of executing those trades. We are thrilled to announce that we have a fully functional and audited decentralized protocol currently running live on the Ethereum Mainnet.

We’ve chosen Chainlink for its security and reliability. Keepers enable us to bring new possibilities to decentralized trading by creating a self-reliant automated protocol like Kromatika.

- Vladimir C., co-founder and lead developer.

Kromatika Protocol and Chainlink Keepers

We selected Chainlink Keepers because the technology behind Chainlink services is battle-tested, and the most reliable and secure in the web3 industry. Some specific features that stood out to our team include:

  • High Uptime — Chainlink Keepers are run by the same professional DevOps teams that have an established on-chain performance history of providing highly reliable data 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.

“When handling users’ funds it is of crucial importance for us to have a super-secure and reliable way to trigger our protocol based on information about market actions,” said Kromatika co-founder Vladimir C.

“Integrating Chainlink to automate critical limit order functions will make more room for our development team to grow and focus on developing new features on top of the Kromatika protocol in the future and eventually completely release the protocol to be governed by a DAO.”

The Kromatika protocol code is open-source and hosted on GitHub under the GPLv3 license. We invite open-source contributors to join and help improve the protocol and push the project forward.

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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 read the documentation at docs.chain.link. To discuss an integration, reach out to an expert.

About Kromatika Protocol

Kromatika protocol introduces a new approach to process limit orders on a decentralized exchange by using its native KROM token. The token utility approach alongside the integration of technology like Chainlink Keepers is what enables the Kromatika protocol to have no gas fees, no swap fees, no front-running bots, and most importantly no price slippage.

Kromatika is a community-driven project and our vision is to completely democratize the decision-making process regarding the path that this project will take. That is why we foster a community-centric mindset and we believe this to be a completely community-owned project. As the community is at the core of this project we invite anyone to join and contribute. Here is a list of the most important links to get you started with Kromatika and KROM token:

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Kromatika
Kromatika

KROMATIKA is a decentralized crypto trading protocol enabling users to trade crypto assets with ZERO swap fees, NO Front running bots, and NO Price Slippage.


Kromatika
Kromatika

Kromatika is a decentralized trading protocol enabling crypto traders to do limit orders on top of Uniswap DEX. This alone is quite a useful Dapp by itself, but the real innovation is the ability to trade without any swap fees, without any price slippage, and with no risk of front-running bots

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