Chainlink Keepers will be integrated by ParaSwap to implement the functionality of limit order on its platform. One of the distinguishing aspects of Chainlink Keepers is its ability to do computations off-chain to monitor the various conditions for defining the users and their orders. Once these conditions are met, the process is followed by using and operationalizing functions that are on the blockchain network.
Specifically, using this functionality of Chainlink, ParaSwap will provide a trigger point for executing the limit orders of traders and users. The trigger point will become operational when the prices of the assets cross the pre-defined limits. The functionality will bring more clarity and convenience for prospective traders and equip the managers, who handle many portfolios, against market volatility and hedge against any abnormal change without any manual intervention.
The reason behind the selection of Chainlink is not very difficult to ascertain. Chainlink is one of the most trusted names in offering blockchain solutions to clients across the industries. This particular solution, Chainlink Keepers, is rated very high on the aspects of reliability and cost-effectiveness. What appeals for this solution further is its solid safety credentials as it is based on decentralized technology.
High uptime of the Chainlink Keepers, even during high congestion and abnormal traffic activity, makes it an ideal choice for the task. The professionals behind this solution have a history of offering very reliable price feeds to many different clients. This means that the same level of reliability and effectiveness can be expected in Chainlink Keepers. The affordability and cost-effectiveness of Chainlink Keepers also deserve mention as economics plays an important role in all business deals. Further, the decentralized nature of the solution and its ability to scale within a short period also adds to its kitty of positive aspects.