The LRST Automation function lets users to set specific price thresholds that, when reached, trigger the atomic buying or selling of LRST through Balancer pools. This is achieved through live monitoring of the LRST's market price on the Balancer liquidity pools and the token issuing contract. By setting a deviation percentage, users can dictate the exact conditions under which the automation should execute orders, with a smart logic that performs the swap at the lowest possible slippage.
Supported Chains: Mainnet and Arbitrum
Balance Requirements: To engage with the Automation, users are required to maintain a balance of the automation token within their Console wallet (wETH for discount buying, ezETH or weETH for deviation selling).
Automation Threshold: Due to high mainnet gas fees, the minimum size for automation is set at 10ETH, to ensure that the operations are economical for users.
Getting Started
The operational flow of the automation process is detailed and user-centric:
Policy and Account Configuration: At the onset, the automation framework establishes a dedicated SubAccount for the user. Alongside this, a transaction policy is created and assigned to this SubAccount, which dictates the permissible actions and safeguards the automated process.
Automation Triggers: When the market price aligns with the user's pre-set price deviation trigger, the automation initiates a series of steps in a single transaction:
Transfer of the specified amount of tokens from the main account to the SubAccount.
Execution of the trade at the best available rate across multiple aggregator platforms like 1inch, 0x Matcha, or LiFi.
Re-deposit the swapped tokens back into the main account.
The automation intelligently manages slippage to secure the best possible transaction conditions. It begins with a tight max slippage of 0.1%, incrementally increasing through successive simulations and retries if needed. This process continues until it reaches the predefined max slippage limit of 5%, ensuring multiple attempts are made to execute the order at the most favorable rate.
Got questions? Head to LRST-related FAQs.
Note: Only when a swap is executed, a nominal fee of 0.5% inclusive of gas fees is applied to the traded amount for the automation service. The mainnet setup requires a Safe deployment, which incurs gas fees; however, no additional Brahma fees are charged.