PARSIQ Partners with Brink
Bringing Automated Trading Options to the World of DeFi
Despite the popularity of centralized exchanges, there are a host of reasons why many cryptocurrency traders prefer using decentralized exchanges over centralized ones. For example, decentralized exchanges do not require proof of identity (such as KYC), offer a wider range of tokens to purchase, and (perhaps most importantly) allow users to retain full ownership over their assets. Yet, an obvious downside of decentralized exchanges is that they don’t offer the same level of sophistication when it comes to trading options. They rarely allow, for instance, spot or futures trading, limit orders, and other kinds of automated trading options — and if they do, they are limited in their functionality.
Brink is a platform that brings conditional orders to decentralized exchanges, introducing automated transactions to the world of DeFi for the first time. The simplest use case of the platform is fulfilling limit orders, but more complex conditional orders are also possible. For example, Brink allows users to create a variety of orders such as stop-loss orders, automated LP rebalancing, and dollar-cost-averaging, to name a few. These orders can be filled from any liquidity source, including Uniswap or other AMMs.
Brink works by allowing users to sign transactions — in advance — that are automatically executed when the relevant conditions are met. Happily, Brink users need not worry about paying unnecessary fees when using the platform. For one thing, it is free to create actions on Brink. For another, all transactions are gas-deferred. This means that no gas fees are paid unless the transaction is successfully executed. So, if a transaction is attempted and fails, then the user does not pay for the cost of the reverted transaction.
PARSIQ + Brink
PARSIQ is providing key infrastructure to the Brink platform. With PARSIQ supporting its network, Brink can now assure its users that they will be kept up to date, staying informed about any and all events that relate to their blockchain activity. PARSIQ’s monitoring technology enables Brink to take advantage of our “Smart Triggers”, a term coined — and a technology developed — by PARSIQ. Put simply, Smart Triggers allow for real-time, on-chain data or events to trigger various, predefined actions both on-chain and off-chain. Brink will be leveraging this technology in more than one way.
On the one hand, thanks to PARSIQ, Brink users will be able to monitor the state of their automated actions. Without delay, users will be notified when their orders have been executed. On the other hand, PARSIQ will also provide Brink with essential information about their platform as a whole, providing real-time information about things like the number of executions, value of executions, and so on.
Brink is bringing automation to the world of DeFi — a much needed development in the world of decentralized trading. PARSIQ helps them realize that goal by providing insight into essential data and empowering a user experience that involves as little friction as possible.
Brink is building critical infrastructure for conditional orders on DeFi. Brink is a fully permissionless, decentralized, and community-driven project that allows users to execute conditional orders against any on-chain liquidity source.
PARSIQ is a blockchain monitoring and workflow automation platform connecting on-chain and off-chain applications in real-time, providing transaction notifications for end-users. With PARSIQ you can connect blockchain activity to off-chain apps and devices, monitor and secure DeFi applications, and build custom event triggers and power real-time automations.