YieldMate offers a unique feature where users can place limit orders that generate extra yield while waiting for the target price. Once the swap is executed, the newly bought token is automatically deposited into another yield protocol, where it earns even more yield until it is withdrawn.
All of this is made possible by Chainlink automation , which monitors the prices of the selected token pair. When the target price is reached, YieldMate automatically performs the swap in the user's name.
Let's say Alice wants to buy 1 wETH for 2000 DAI. The current market price is 2100 DAI, so YieldMate redirects Alice's DAI to a yield protocol where it starts earning interest. Alice's DAI sits there and over time generates extra 50 DAI. After some time, the price of wETH drops to 2050 DAI. YieldMate then automatically withdraws Alice's DAI from the yield protocol and sells it for 1 wETH, which is then redirected back to the protocol. When Alice decides to withdraw her wETH, she realizes that even though she only wanted to buy one token, the yield protocol generated an extra 0.03 wETH and on top of that Alice was able to buy the token at her desired price even though the market price never actually dropped to 2000 DAI.
YieldMate's limit order feature and automated yield farming allow users to maximize their profits and take advantage of market fluctuations in a seamless and efficient way.
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