Our latest automation features for @sparkdotfi are now live: Stop-Loss and Take-Profit. 🤖
These options allow you to set up automatic position closing when the market price falls below or rises above your defined threshold.
These two features are now available in our Spark dashboard. ⚡
Enabling these options for your positions is simple:
You can find them under the "Automation" tab in your Spark dashboard. You can enable one or both options simultaneously to ensure your positions can profit while avoiding significant losses based on future market movements.
You can get started here:
However, there are two requirements to note:
1. Your positions must be in a smart wallet.
As a reminder, we use @safe(s) by default in DeFi Saver, meaning you can still easily access these positions through any user interface.
2. Your position liabilities must exceed $30,000.
This is a mainnet-related requirement, as transaction fees can still spike during a mainnet crash (which is when automation is most needed).
However, we will also consider reducing fees once we observe the impact of the new, larger block gas cap on the mainnet.
If you are interested in learning more about our lending protocol's automation options, a series of (constantly updated) articles are available in our knowledge base:
Additionally, you are welcome to join the DFS Discord server—whether you want to ask more questions, suggest ways to further improve the tools in DeFi Saver, or offer suggestions on other things we can automate.
Click here to join the discussion: