Fyda Finance, a non-custodial decentralised finance (DeFi) protocol, has introduced its automated trading platform.
According to Fyda Finance, it is transforming decentralised trading by breaking away from conventional models. The company is said to allow users to effortlessly automate intricate trading strategies within a secure and trustless environment.
Fyda Finance founder and CEO Narayan said: “We are thrilled to introduce Fyda’s powerful trading infrastructure to the DeFi ecosystem.
“We have built an unrivaled platform where traders can automate everything from simple buy orders to advanced techniques like dollar-cost averaging.”
The Fyda Finance platform encompasses several key features to enhance users’ trading experience. It supports percent orders for take-profit targets and stop-loss protection.
Additionally, the platform accommodates both recurring and non-recurring trading strategies.
Fyda Finance introduces advanced order types, including but not limited to Buy the Dip, Buy the Recovery, Sell the Rally, Trailing Stop Loss, and Time-Weighted Average Price (TWAP).
Furthermore, users can seamlessly engage in trading activities on Polygon, Arbitrum, and Optimism L2 networks. The platform has a user-friendly interface and a simulation tool to enable traders to test their strategies.
Fyda Finance said that it employs smart contracts and on-chain price oracles to safeguard trading, providing protection against miner extractable value (MEV) attacks. The platform consolidates liquidity across decentralised exchanges (DEXs), thereby minimising price impact for trades.
In response to the evolving landscape of DEX trading, Fyda Finance is purpose-built to offer secure and customisable trading automation. The platform is designed from the ground up to not only meet but also exceed traders’ expectations in these crucial areas, thereby enhancing the overall on-chain trading experience.
Anticipated enhancements to the platform include the introduction of Smart Signals. This feature will empower traders to integrate technical and sentiment indicators into their automated strategies.
The company also has plans to introduce copy trading functionality and a Telegram-based user interface in the coming months.
