This past weekend, we were thrilled to announce our forthcoming NFT-powered game, MetaDungeon, at this year’s Metaverse Summit event in Paris!
MetaDungeon is the first NFT-powered game that inverts the classic player versus environment (PvE) genre, and introduces a new concept of player versus blockchain (PvB) – where players are able to engage and fight with Web3 objects, such as NFTs and on-chain characters. This project is the first time a decentralized automation protocol for NFTs and blockchain games has been deployed.
The game integrates multiple automation features to achieve autonomous NFTs (aNFTs), and for the first time, on-chain non-playable characters (NPCs). aNFTs are an iteration of NFTs that have the ability to vote, fund, and even transfer themselves thanks to the automation capabilities of the Autonomy protocol. MetaDungeon is also the first blockchain game that requires players to be collaborative and rely on team mechanics, incorporating other NFT projects which players own as an essential part of gameplay.
When you think of an NFT, what comes to mind? Static images? Expensive jpegs? Jaded primates? The truth is, most NFTs in circulation today don’t reflect the dynamism and excitement of the online experiences people are looking for, whether it’s a more intuitive and smooth-functioning DeFi platform or a more immersive gaming experience. Autonomy Network is building tools for bringing the web2 UX to web3; that’s why we developed autonomous NFTs (aNFTs).
aNFTs are non-fungible tokens that can be programmed to create their own transactions, even proactively initiating interactions with other degens and network protocols. In other words, aNFTs can self-execute arbitrary actions under arbitrary conditions – both on-chain and off-chain – depending on how they are programmed.
More specifically, Autonomy Network’s aNFTs can be programmed to:
We’re still excited for the initial release of AutoHedge. If this sounds new to you, go read our previous post where we talked all about it, how it works, and how it lets you earn yields safely and sleep soundly. You can also find a step-by-step guide on how to use it.
To recap, AutoHedge is the way to LP in a downturn with an automatically hedged position that keeps earning APY. For example, LP on an ETH/DAI pool with $100 and if the price of ETH changes, you still have $100 and keep your APY.
But there’s more… There’s so much more we can do with a tool like that. In the near future, we’ll be upgrading AutoHedge’s capabilities to make sure degens get the most of what’s possible with a safe, yield-bearing, delta-neutral position.
Without giving too much away, let’s look at what’s possible for future AutoHedge releases:
AutoSwap will now support Orca, one of the easiest and most widely-used decentralized exchanges on Solana. Last month we introduced automation to the fast-growing ecosystem of Solana applications and today we continue expanding by adding Orca as another option for trading through our AutoSwap tool.
Orca has maintained $234 million in TVL and a daily trading volume of $42 million on over 130 trading pairs despite overall market conditions. On its Whirlpools, LPs can concentrate their liquidity in specific price ranges allowing the DEX to offer higher yields. Other Orca features include reduced slippage for stable pairs and minimal transaction fees and latency.
Degens on Solana can now use AutoSwap to set up limit orders and stop losses on the popular DEX. To start swapping Solana tokens at a predetermined price on Orca:
Today we’re announcing the first proof of concept for AutoSafe. This new tool introduces automatic self-liquidations, a feature we’re really excited about because it could rid degens from the risk of liquidation on lending platforms. It uses Autonomy’s capabilities to let them liquidate themselves before they reach their loan to value ratio.
First things first, let’s review how DeFi borrowing markets work. When you take out a crypto loan, you have a collateral limit that your collateral cannot fall below, otherwise you get liquidated. This is usually denoted by a collateral percentage. Some DEXes like Sushi, however, use an LTV (loan to value) of 75%. This means that for every $1 of collateral, you can only borrow up to $0.75.
For example, if you have $2,000 dollars of Ethereum and you put it up as collateral to borrow DAI, you will only be able to borrow a maximum of $2,000 x 0.75 = $1,500 on Sushi. If either the value of the borrowed asset goes up, or the value of the collateral goes down, you will get liquidated.
Automation keeps making its way across chains and Solana is no exception. We’re happy to announce that AutoSwap will now support Raydium, one of the exchanges with the highest TVL in the network. This is the first integration of Autonomy’s capabilities with Solana’s fast-growing ecosystem of DeFi applications.
Thanks to Solana’s scalability, Raydium is able to offer light-speed swaps, yield farms, and liquidity pools. A new set of DeFi features are also available to its users via AutoSwap. Degens on Solana can now use the tool to set up limit orders and stop losses on the popular DEX.
To start swapping Solana tokens at a predetermined price:
The 24-hour trading volume in the largest centralized exchange is almost 10X the trading volume on the largest decentralized exchange on any given day. This is because, despite DeFi’s advantages in composability and censorship-resistance, it has been lacking in the features and user experience offered by centralized alternatives.
As you may have noticed by now, we’ve been hard at work to change this with an on-chain automation protocol that can take DeFi dapps and platforms to their next level of functionality. The Autonomy Network can be used for the implementation of new features, in and outside of DeFi, that are only limited to developer imagination. We’ve built a few examples of what’s possible.
First, if you go to autoswap.trade you’ll find a tool that lets you do two simple but important operations that change the game for DeFi traders. Limit orders and stop losses have long been the missing serum for degens’ sleeping habits.
Every degen has probably wondered what it would be like to place limit orders and stop losses on decentralized exchanges. It’s impossible to sleep tight when you just got alpha but want to be ready to take gains at 2x. Or maybe you aped into the latest memecoin and it’s looking like you bought the top. Nobody’s got time to refresh a trading app all day.
Limit orders and stop losses are fairly popular on centralized exchanges but the Web3 space has evolved far beyond the ICO boom of 2017. All the action is happening on DeFi protocols. To take place on DEXes, however, these features would have to be implemented on-chain…
The good news is that this is now possible! AutoSwap is the new sleeping pill prescribed to all DeFi degens 💊. Powered by Autonomy’s capability to automate smart contract transactions according to pre-set conditions, the dapp is able to set limit orders and stop losses for transactions taking place on DEXes.
Limit orders on DEXes were unheard of a few months ago but now they’re taking off thanks to Autonomy and AutoSwap. We’re happy to share that ApeSwap, one of the most popular trading platforms in the Binance Smart Chain ecosystem, is the most recent project to integrate our solutions into their dapp and offer users these exciting new features.
The ApeSwap team announced that you can now buy or sell crypto at the pre-set price of your choosing directly on their platform. While this was previously possible on AutoSwap, the new UI enables you to place orders directly from the exchange as well. This makes ApeSwap one of the most innovative DEXes at the moment with a feature that was only available on centralized trading platforms.
To start playing around with it and swap BANANAs for BNBs at a predetermined price:
Over the past few months, the Autonomy team has been hard at work on different tools and applications that showcase the protocol’s use cases. From stop-losses on DEXes to an entirely new game genre coming soon, automation is unlocking a diverse range of new decentralized applications that were previously unheard of in Web3.
We’d like to introduce a new tool that goes beyond degens and gamers and helps more conservative participants in the Web3 economy. AutoHedge is a decentralized application for liquidity providers who look to maximize their profit potential while effectively hedging against volatility in a seamless, easy-to-use way. It leverages the Autonomy protocol to create positions that are delta-neutral.
For example you can LP on the ETH-DAI pair on Uniswap with $100, and no matter what happens to the price of ETH, your position’s value will never go above or below $100. More so, over time you’ll accumulate the trading fees on top.
In the EVM lands of the Web3 world, a nefarious monster has been programmed in the dark corners of mysterious DAOs and degen forums. The rampant ponzinomics, greed, and speculation have birthed a sentient creature known as Etheron, the Degen Slayer, the Giga Dragon Behind Your Busted Stops, the Lord of Liquidity and King of NFTs.
Omens and rumors of the dragon’s imminent apparitions continue to spread. Once his egg hatches there will be no turning back. The specter of Etheron will haunt the addresses of Heroes all over the Web3 world. He will appear unexpectedly and challenge them in a battle for their prized possessions. On occasion, he will be enticed by the sight of certain NFTs. If he wins, they will lose everything they’ve put on the line.
By default, Etheron will appear everyday in a randomly chosen Hero’s address. If a Hero team has joined forces, however, they will be able to summon him through the MetaDungeon once they are ready to fight.
As Etheron terrorizes the degens and DAOnizens of Web3, a small cadre of NFT collectors have devised a plan that just might be able to stop him. The dragon’s NFT-consuming breath is too much for any single degen to handle, but by joining forces, the Heroes of the MetaDungeon could become a suitable match.
The first thing you should do if you’d like to take your chances against Etheron is sign up for the mintlist before it closes! It only takes one minute.
On Mint Day, you’ll be able to choose from a variety of Heroes you can recruit.
Introducing Player vs. Blockchain and Automated NFTs
An ancient dragon has come to life as an NFT. Hatched by the warm frenzy of speculation, Etheron 🐲 has left his nest to roam the depths of the Ethereum Virtual Machine like an automated beast that swallows prized possessions from the addresses of his foes.
It is rumored that unsuspecting degens who run into him become obsessed with the fire-proof treasures that the dragon guards in his stomach. None have come across a way to slay him by themselves and reclaim The Sword of a Thousand Degens.
Every time Etheron appears, his victims fall prey to a spell of selfish greed and double-cross their fellow bagholders and DAOnizens. They seem unable to band together in order to defeat the beast. After their defeat, he continues randomly onto his next booty.
We are now openly recruiting individuals to join Autonomy as Ambassadors of our growing community.
This program is open to anyone who believes that users should be able to manage their risk tolerance in DeFi applications, create automated NFTs that have a life of their own, or receive recurring payments automatically for their contributions to DAOs. Autonomy is a decentralized automation protocol that lets users across different EVM-compatible chains program future transactions in a decentralized way.
The Autonomy Ambassador Program will aim to:
How can you do transactions in the future on blockchains? How can you create transactions like limit orders or stop losses for trading to manage risk and get the best prices? How can you set up a smart contract that can create its own transactions, without the need for a human to initiate them?
As I’m sure you’ve guessed, Autonomy Network is the answer 😉.
The protocol lets you stop loss out of being an LP to avoid impermanent loss, move your liquidity to a better yield farm as soon as yield rates change, all while being offline or asleep. It even enables objects like NFTs to take a life of their own and transfer themselves around Web3, send messages, and make conditional transactions.
Let’s take a look at how we’re making this possible.