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Polygon (MATIC) revolutionizes the automation of smart contracts

sun 21 August 2022 ▪ 18:00 ▪

4
min reading – per
Cédrick Aimé GUELANG OFALABEN

Developers can now take advantage of the excellent smart contract automation technology to make their dApps (decentralized applications) more scalable. A good news that comes from the team behind Polygon (MATIC). In essence, developers will be able to rely on a more direct technique that will allow them to save time. This is the Chainlink Keepers technique which, despite its many features, is not yet unanimous.

New York, USA - May 1, 2021: Polygon MATIC cryptocurrency logo close-up on website page, Illustrative Editorial
Crypto, Polygon, Matic, Smart Contracts

The automation of smart contracts is becoming more direct

Polygon provides guidelines for automate the smart contracts . Indeed, the solution recommended by the Polygon team to the developers is quite direct. The latter must use the Chainlink Keepers technique to achieve this automation. This will allow them to save time while providing more advanced features to their DeFi dApps.

Logically, the smart contracts can’t go off on their own. To solve this problem, manual and centralized solutions are used. However, this technique has the disadvantage that it exposes smart contracts to security and reliability risks.

To circumvent this technical challenge, several DeFi protocols entrust the automation of their smart contracts to external decentralized solutions. This is precisely the role of Chainlink Keepers. This technology is a set of decentralized automation bots that are constantly analyzed, tested and approved by professionals.

On a daily basis, Keepers monitor chain transactions and look for conditions that can trigger a smart contract. When these conditions are observed, they take care of the automatic triggering.

New features for developers on Polygon

Two main functions are available to developers :

  • CheckUpkeep which will be the trigger ;
  • PerformUpkeep which will play the role of executable.

Job Scheduler, or task scheduler, is another automation tool that is making its arrival on Chainlink Keepers. It allows you to automate the behavior of your smart contracts without writing any code, and in a few seconds. This is an addition that non-developers will appreciate a lot.

For developers, integrating Chainlink Keepers on their Polygon dApps is advantageous. Indeed, it would allow them to automate payments to liquidity providers for the impermanent losses incurred.

The developers of Civilization (CIV) for example have integrated the Keepers to enable order limits. It saved them up to $250,000 a year and a development time of three months. All while offering improved availability and allowing on-chain monitoring.

SIREN (SI) also uses Chainlink Keepers to help secure prices and to automate settlements for its options markets. Chainlink Price Feed has also been used to achieve this. Finally, it is possible to use Chainlink Keepers in many ways to develop your DeFi dApps with Polygon.

Conclusion

In short, Polygon is hitting a big blow with its new smart contract automation conditions. Despite the apparent flaws, the Chainlink Keeper network is decentralized, which makes it possible to strengthen its reliability. Likewise, it must be remembered that all calculations are made off-chain. An approach that saves on transaction fees and motivates developers to create more features for dApps. Because let’s remember, tasks such as automated trading and trade limits require automation. Keepers are therefore the ideal technique to do it on Polygon.

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Cédrick Aimé GUELANG OFALABEN avatar
Cédrick Aimé GUELANG OFALABEN

PhD student in financial law and experienced SEO web writer, Cedrick Aimé is passionate about cryptocurrencies, trading, etc. He naturally participates thanks to his articles in the blockchain revolution on a daily basis for a better democratization of DeFi.

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