Leveraging Gelatos keeper system, Kwenta can automate advanced orders through Smart Margin. 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.
Keepers can do things like execute limit orders, liquidate an under-collateralized position, on-chain, and 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 orders on Kwenta.
Using advanced orders on Kwenta will automatically deposit 0.01 ETH into your margin accounts Keeper. This ETH will be used to pay the blockchain transaction cost when Gelato submits your order.
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 (if available). 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. twenty advanced orders with ease.
To ensure that your advanced order transactions are being executed by the Keeper even under extremely volatile market conditions, a buffer of 0.01 ETH has been implemented to ensure timely execution and avoid failed advanced order transactions.