ChronoLogic partners with XFai to solve high gas price issues
We are happy to announce to our community that we have recently teamed up with XFai, a simple liquidity solution for long-tail crypto assets trading on decentralized exchanges (DEX), as a means of providing our gas-saving Automate tech to XFai users and help them save drastically on gas.
What is XFai?
XFai is a decentralized service provider that aims to solve liquidity and gas issues on decentralized exchanges with DEX Liquidity Oracle (DLO). DLO helps low-cap tokens opt out of centralized exchanges and increase their liquidity on decentralized exchanges earning returns on their token. By utilizing their unique synthetic curve approach, XFai is effectively translating all possible prices of an order book from a traditional centralized exchange into a continuous Automated Market Maker curve.
The project's main goal is to support tokens with low trade volumes and market caps by creating a system that helps them earn higher returns when providing liquidity and therefore increase their position. XFai makes holding low-cap tokens profitable by kickstarting the positive feedback loop similar to how liquidity pools have made larger tokens profitable to hold.
Automate
Apart from the liquidity problem, one of the largest factors that can stop people from shifting their trading activities to DEXs is the gas fees. It is no secret that transactions associated with using DeFi apps are more complex and more Gwei is required to execute them. As part of our strategic partnership with FXai, we will be providing a solution to this problem.
This is only one of the examples to demonstrate how much ETH users pay in fees using XFai:
https://etherscan.io/tx/0xa1f691d1ca4e49158b6a45b8854a0b937d694a7131d430c3eba55e492d3bec48
At ChronoLogic, we continuously develop and improve Automate, the tool designed to facilitate conditional scheduling on the blockchain. And we are proud to be partnered with XFai to explore new ways to interact with their farming dapp using Automate’s API and enable users to spend less on gas.
Take a look at the screenshot below with the analysis of potential XFai savings that we conducted internally at ChronoLogic.
With ChronoLogic, you can schedule and automate your transactions with both our tools: Automate and the Ethereum Alarm Clock. We would also like to invite anyone interested to run their own TimeNode and become a part of our ever-growing Decentralized Scheduling Network.
