Supra Launches AutoFi, Revolutionizing DeFi with On-Chain Automation
Supra has introduced AutoFi, marking a significant advancement in the blockchain industry as the first fully on-chain automation solution. This development is set to transform decentralized finance (DeFi) by addressing the limitations of traditional blockchain automation methods. Unlike conventional systems that rely on off-chain bots, Supra’s AutoFi is seamlessly integrated into the Supra Layer 1 blockchain. This integration ensures enhanced reliability, speed, and transparency, optimizing smart contract performance and enabling developers and users to create and execute tasks on-chain with zero-block delay.
Supra’s AutoFi represents a groundbreaking approach to on-chain automation, eliminating the need for off-chain bots or centralized oracles that are typically used in DeFi protocols. These traditional methods often result in latency and security vulnerabilities. By offering a fully decentralized automation process, Supra’s AutoFi allows users to set, monitor, and execute tasks directly within the blockchain. This ensures trust, speed, and transparency, covering a range of tasks from optimization to DSO governance execution.
The core value of AutoFi lies in its zero-block delay automation. Once the conditions of a smart contract are met, the automation logic is executed within the same block instantly. Additional features include customizable execution parameters and seamless developer tools. The proprietary oracle and Verifiable Random Function (VRF) layers further support AutoFi, ensuring high integrity and reliability.
AutoFi is also reshaping revenue models within blockchain networks. Traditionally, dApps and networks have relied heavily on transaction fees for revenue. However, AutoFi introduces a new monetization strategy through its automated services. Developers can create custom automation solutions, such as charging users for their services, fostering a sustainable, service-based economy within blockchain networks. This approach rewards developers for utilizing their automation scripts, creating new economic opportunities.
Supra AutoFi is designed to integrate across multiple blockchains, leveraging SupraNova, an interoperability framework. This framework enables AutoFi to automate tasks across Layer 1 and Layer 2 ecosystems, including Ethereum, Avalanche, and Solana. By serving as a unified automation layer, SupraNova eliminates the need for developers to build custom automation for every chain, streamlining the development process.
With the launch of AutoFi on the public testnet, Supra is inviting global developers to explore its automation capabilities in a risk-free environment. This testnet period is crucial for stress-testing the system, gathering feedback, and fine-tuning the economic parameters that will govern the AutoFi ecosystem. Supra emphasizes that this initiative is not just an improvement to the existing system but a fundamental rethinking of how blockchain transactions and economics function.
Supra’s AutoFi is more than a technical milestone; it represents the future of decentralized finance. By offering fully on-chain and real-time automation, along with cross-chain compatibility via SupraNova and strong developer support through the public testnet, AutoFi is poised to become the backbone of the DeFi world. As adoption grows, it has the potential to redefine the experience of users and developers in the web3 landscape, setting new standards for reliability, speed, and transparency in blockchain automation.
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