SushiSwap taps Orbs’ technology, integrates limit orders and DCA strategies

Decentralized exchange SushiSwap has integrated Orbs’ cutting-edge technology to enhance its platform’s trading capabilities.

The exchange has incorporated the dLIMIT and DCA protocols from Orbs, to allow users to set limit orders and implement dollar-cost averaging (DCA) strategies directly on-chain.

The move aims to provide a more robust and user-friendly experience for traders in the decentralized exchange (DEX) ecosystem.

Enhanced trading capabilities with Orbs’ dLIMIT protocol

SushiSwap’s integration of Orbs’ technology marks a crucial step in bridging the gap between decentralized and centralized exchanges.

The dLIMIT protocol allows users to place limit orders on-chain, enabling traders to set specific prices for buying or selling tokens. With this feature, traders can now choose to execute orders at a percentage above their target price, such as +1%, +5%, or +10%.

Additionally, users can set expiry dates for these orders, providing them with more control and flexibility in managing their trades.

Moreover, SushiSwap has added an order history tab to its interface, allowing users to track both open and previous orders easily.

This enhancement is particularly beneficial for traders who rely on precise execution and detailed record-keeping to inform their strategies.

The combination of limit orders and improved tracking tools are designed to mimic the sophisticated trading features commonly found on centralized exchanges, making SushiSwap a more attractive option for both novice and experienced traders.

Introduction of DCA strategies for automated trading

Another significant feature introduced by SushiSwap through Orbs’ technology is the ability to implement dollar-cost averaging (DCA) strategies.

Dollar-cost averaging is a popular algorithmic trading strategy that involves spreading out the purchase of an asset over time to reduce the impact of volatility.

With the new integration, SushiSwap users can specify the frequency and number of individual trades for their DCA orders, automating their trading approach and potentially mitigating risks associated with market fluctuations.

This feature is particularly valuable in the current volatile market environment, where decentralized exchanges are gaining ground.

As of August 2024, decentralized exchanges recorded a monthly trading volume that was $73 billion short of July’s figures, with a peak ratio of 13.9% compared to centralized exchanges.

Despite a slight reduction in August to 13.55%, this ratio indicates a growing confidence in decentralized trading platforms.

SushiSwap’s adoption of advanced trading strategies like DCA could further solidify its position in this expanding market.

SushiSwap (SUSHI) token price sees a modest surge

Following the news of the integration of Orbs’ technology, SushiSwap’s native token, SUSHI, experienced a modest price increase, rising by 5.31% to $0.5917 at press time.

Notably, the token is up 30.59% from its all-time low of $0.4533 recorded on August 5, 2024.

The introduction of new trading tools is likely contributing to renewed interest in SUSHI, positioning SushiSwap for potential growth in the DeFi sector.

Over the past 24 hours, the trading volume has surged by around 10% to $11.8 million.

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