Leveraging Gelatos keeper system, Kwenta can automate advanced orders for futures. The first two products to come out of this will be limit and stop-market orders. Gelato Network is a decentralized network of keepers used by web3 apps to automate smart contract executions on all major public EVM compatible blockchains including Optimism. Using Gelato gives Kwenta peace of mind when it comes to automating and relaying transactions with confidence.
Using advanced orders on Kwenta will automatically deposit 0.01 ETH into your margin accounts Keeper. This ETH will be used to pay keepers for their service on any advanced orders you place and executed successfully.
Keepers can do things like execute limit orders, liquidate under-collateralized loans, and just about anything on-chain autonomously. Automated keeper are set in place to automatically execute advanced orders when their conditions are met. Due to this development, there is no manual intervention needed from traders on Kwenta to execute advanced orders.
Anytime your account ETH balance is less than 0.01 ETH, the next advanced order you place will deposit enough ETH to restore it back to the 0.01 ETH requirement.
Account ETH balance is displayed in your account details
At any time traders can withdraw this ETH back to their wallet by selecting the
up arrowand completing the withdrawal transaction.
Transaction costs on Optimism generally range between 0.05$ and 0.50$, depending on the type of transaction and current gas price conditions on L1. At the current value of about 13$ for 0.01 ETH (as of October 2022), the deposit should allow a trader to execute approx. 20 advanced orders with ease.
However, to ensure that your advanced order transactions are being executed by the Keepereven under extremely volatily market conditions, a buffer of 0.01 ETH has been implemented to ensure timely execution and avoid failed avanced order transactions.