KillSwitch’s KILL feature: TP/SL

Introducing the long-awaited feature that will truly allow the fam to “rest easy” — Take profit/ Stop loss.

KillSwitch had been teasing about their promising feature TP/SL, an automated system to facilitate the issuing of orders based on user presets, which will be the solution for all Defi investors for the longest time and now KillSwitch is proud to announce that the TP/SL is finally here and ready for use! Marking KillSwitch as pioneers in bringing TP/SL into the world of yield farming. Continue reading to learn how to use it!

What is TP/SL

TP/SL is short for “take profit/stop loss”. Where…

Take Profit (TP) when the price is equal to or higher than the price set, TP Bot will Withdraw LP and convert it back to BUSD to the investor’s wallet.
Stop Loss (SL) when the price is equal to or lower than the price set SL Bot will Withdraw LP and convert it back to BUSD to the investor’s wallet.

How so? By referring to the price from an Oracle price feed, the system will withdraw the stable coin such as BUSD instantly when the price reaches the setpoint without having to monitor the screens 24/7.

**Please note that

In order to access this feature, users must

1. Stake in an available pool beforehand.
2. Must hold at least 500KSW to unlock this feature.

How to (Step-by-Step)

1. Go to Menu then TP/SL

2. Choose Pool to take action in
*Please note that the pool must be farmed/staked beforehand to be able to access the TP/SL feature

3. Input desired amount to take action, users can slide the bar underneath to indicate the percentage. The current value (in $USD) will also be shown underneath.

4. Set the TP/SL you want the order to be issued.

5. Click “Estimate required gas amount” then “Approve”

Other than the input above, users can also choose to put in the fail-safe, Tip gas price, and the required gas amount

Inputs when accessing this feature (terminology)

1. Pool — the LP pair that users want to set TP/SL
2. My Deposited — refers to the amount of LP that users want to place an order and when the price reaches the setpoints, the system will issue orders and convert them back to BUSD
3. TP/SL — the point that investors want the system to issue a take profit or stop loss order when the price of the LP reaches that value
4. TP/SL Fail-Safe — allows users to set the value of the withdrawal price (in BUSD) that is not to be lower than the preset value, this is to prevent price impact or system failure. In cases where the value is lower, the system will revert the order immediately to guarantee the lowest stable coin value that each user can accept.
5. Tip — The platform uses bots to issue orders, however, if users “tip”, bots in the system will select the order and execute the transaction first (optional)
6. Gas price — Users can choose to input high gas prices to encourage faster transactions although the system will automatically calculate the gas prices by default. (optional)
7. Required gas amount — Users are free to adjust the total gas price for all the TP/SL transactions, however, the system will estimate and calculate all gas costs by default. However, if the order is canceled, all the gas costs will be returned.
8. Remove Liquidity — It splits the coin into a pair of LP instead of exchanging it back to a stable coin.

or if you want a clear and visible tutorial make sure to check out our video at → https://youtu.be/lJUASa9R_Ac

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