We’re excited to announce that DeDeLend— the option and perps aggregator — has integrated Chainlink Automation live on the Arbitrum. We are utilizing Chainlink Automation to securely and cost-effectively activate the take-profit and stop-loss orders for option traders. As a result, users can trust that their positions will be automatically closed when the price reaches a specified point, allowing them to spend less time monitoring prices.

We decided to use Chainlink Automation to power DeDeLend’s take-profit/stop-loss orders function because it is the most reliable Web3 automation service. The Chainlink Automation Network is operated by the same pool of time-tested, provably reliable node operators that currently help secure tens of billions of dollars in DeFi, even during record levels of network congestion and extreme volatility. The proven infrastructure of Chainlink helps ensure that every take-profit/stop-loss order is executed on-time in a trust-minimized manner, giving users additional guarantees that it will function exactly as intended

DeDeLend enables trading of perpetual swaps (GMX, GNS) and options (Hegic, Lyra) within a single, unified trading interface. Additionally, DeDeLend offers the first on-chain system for take-profit/stop-losses for option traders, allowing for automatic closure of option positions when the price reaches a specified point.

Chainlink Automation is crucial for DeDeLend as it guarantees a fully trustless and transparent system. By utilizing Chainlink Automation, users can benefit from the most robust and secure way to execute their take-profit/stop-loss orders.

Chainlink Automation is a decentralized service purpose-built to manage tasks on behalf of smart contracts. Chainlink Automation leverages decentralized, hyper-reliable, and economically incentivized automation nodes to wake up smart contracts when they need to perform critical on-chain functions, which usually take place at regular time intervals (e.g., every day at the same time) or based on external events (e.g., when an asset hits a specific price).

Some of the notable features of Chainlink Automation include:

• Highly reliable, performant, and decentralized automation — Chainlink Automation ensures transactions are identified and confirmed quickly even during periods of heavy network congestion by leveraging Chainlink’s battle-tested transaction manager.

• Time-tested infrastructure that helps save costs — Chainlink Automation enables us to eliminate in-house automation infrastructure costs, reduce resources spent on DevOps, and increase speed and efficiency.

• Built to enable faster scaling — Chainlink Automation enables us to scale faster and avoid the challenges that come with building and maintaining the infrastructure needed to reliably automate across multiple chains.

• Unlocks new use cases — With smart contract automation, we’re able to explore new use cases and unlock capabilities that would otherwise not have been possible.

In addition to take-profit/stop-loss features, we will also enable limit orders for purchasing options at a specific implied volatility (IV) rate or spot price. As we continue to develop and enhance our platform.

Chainlink's robust and secure infrastructure is instrumental in providing our users with a fully trustless and transparent system. Integrating Chainlink Automation enables us to offer the most reliable method for executing take-profit/stop-loss orders, ultimately enhancing the DeDeLend trading experience

About Chainlink

Chainlink is the industry-standard Web3 services platform that has enabled trillions of dollars in transaction volume across DeFi, insurance, gaming, NFTs, and other major industries. As the leading decentralized oracle network, Chainlink enables developers to build feature-rich Web3 applications with seamless access to real-world data and off-chain computation across any blockchain and provides global enterprises with a universal gateway to all blockchains.

Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link. To discuss an integration, reach out to an expert.

About DeDeLend

DeDeLend enables trading of perpetual swaps (GMX, GNS) and options (Hegic, Lyra) within a single, unified trading interface. Additionally, DeDeLend offers the first on-chain system for take-profit/stop-losses for option traders, allowing for automatic closure of option positions when the price reaches a specified point.