DEXTools Integrates Trading Bots
It is with great excitement that DEXTools officially announces the beginning of our first integrated DeFi Project: Velox Algorithmic Trading Bots. This revolutionary platform offers instantaneous, non-custodial bot trading for all ERC20 pairs on the Uniswap and Sushiswap DEXs. Developed by three of DEXTools longest contributing DEXT Force members, Velox will give users the ability to establish multi-point trading conditions called “Strategies” which are linked directly to your wallet.
Once strategies are issued to Velox there are no more approvals required for a swap to happen. Also, there are no Velox tokens to purchase, no trading bot software to download, and no limit to how advanced your trading positions can grow!
Velox utilizes a combination of innovative and proprietary functions called “Next-Block” and “Last-Block” technology for rapidly calculating and executing almost any form of ETH-based token swap. With lightning-fast computation, Velox will not only be able to rapidly deploy token swaps with +99% efficiency but can also intelligently derive the minimum gas required to execute your swap via dynamic gas calculations.
As a result of its unprecedented technological velocity, all trades through the Velox system virtually eliminate slippage associated with transactions sent through AMMs. In other words, you sharply reduce both unnecessary gas usage and the lost profit associated with high slippage trades.
How can Velox be used? There are many strategies that can be employed through Velox, but let’s look at an example:
“Alice can secure her desired profit margin when Token A reaches $1. She can issue strategies on Velox to make that transaction happen on her behalf, at that price level, while minimizing gas and slippage to the lowest possible level. In addition, Alice can also protect her investment against shocks to the price and set Velox to sell a portion of her Token A if the price reduced by a certain percentage since the last block. This is essentially a stop-shock-loss .”
Velox is scheduled for integration with the DEXTools platform via an iframe in January of 2021. As a nod to the DEXT community at large, DEXTools and Velox have agreed to a 25% discount of the Velox trading fees for all DEXTools Subscribers. For more information on the Velox platform, please visit their website Velox.Global or join their Telegram. Stay tuned for future project updates, videos, and further explanation in their introductory Medium article: https://medium.com/@veloxglobal