Add Stop Limit Orders on SushiSwap

Summary

Sushi currently offers limit orders and used to offer stop-limit orders, but for various reasons people stopped running bots and the feature was disabled. Autonomy Network is a fully generalized and decentralized automation protocol that can provide this missing bot network, it allows anyone to automate almost anything on-chain. On-chain automation has many different use-cases, for example automatic self liquidations for Kashi as outlined in a previous proposal. Another interesting use case is stop limit orders.

Abstract

We propose an integration to add back the stop-limit order feature immediately using Autonomy, rather than wait many months for the necessary infrastructure to be created by Sushi since it has other priorities right now. Essentially, this would allow users of SushiSwap to exit a position once a stop and limit condition has been reached without the need to constantly monitor the position, basically set it and forget it.

Motivation

One of the limitations of DeFi is that it doesn’t provide the same features that centralized exchanges offer which causes friction when onboarding more people into DeFi. Sushi has been taking a step in the right direction with the addition of limit orders, but so has many other DEXes such as PancakeSwap, QuickSwap, ApeSwap and many others. In order to remain competitive in the DEX market, Sushi should take advantage of the current bearish conditions and provide better features such as stop limit orders that prevent loss.

Specification

Adding back the stop-limit order feature on SushiSwap using Autonomy Network. With guidance of the core Sushi Team, we have implemented a working stop-limit MVP (Only available on Avalanche for now). The current design is very similar to the limit order feature but with some extra fields, the history can also be accessed the same way as a limit order. Here is a walkthrough video. We have also made a PR into the sushiswap-interface repo feel free to check it out and let us know your thoughts.

Below are some screenshots for convenience:

For

Would like to have stop-limits back so I don’t get rekt.

Against

No need for a stop-limit feature.

  • FOR: Yes, I would like to have limit-stops back so I don’t get rekt.
  • AGAINST: No, there is no need for a limit-stop feature.

0 voters