To further provide liquidity providers the ability to create deep, on-chain liquidity, Yield IQ needed a streamlined solution to scale their rebalance function.
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.