Automate Proxy — Automate Any and All Ethereum Transactions
During the past few weeks the ChronoLogic Team has been working in providing more value to the entire Ethereum Community through Automate, and this is coming together as a solution to fight high gas prices even further.
Previously, we released an update on Automate that allows naming what gas price the user is willing to pay and have our tool send the transaction out to the chain at the right time when the transaction is more likely to be confirmed by the miners.
Although this was great and we had massive feedback from users thanking us for the service, it still wasn’t good enough since the actual croix of gas spendings was when dealing with DeFi smart-contracts, such as Curve, Uniswap, etc.
The high spending on gas prices for doing a simple on-chain swap is about to become past with the future release of Automate Proxy, a solution that will enable transactions to be scheduled directly through MetaMask, empowering Automate and the extended Ethereum Community even further.
How Does It Work?
Putting it simply, we devised a way that every transaction performed through MetaMask is captured by Automate, allowing them to be trimmed in the user’s best judgment before broadcasting it.
Now, for the long answer: By setting up a new Network of sorts on MetaMask, every signed transaction is now transmitted to Automate’s server, permitting this way that any and all TX is now stored on Automate under the user’s unique API code registered with the service.
The setup of it on MetaMask is quite simple and very similar to add another network to the wallet, such as Binance Smart Chain. Although the only difference here is that every single user will have their exclusive RPC URL that will use their own API code to interact properly with Automate’s server.
Once this is setup, the user is able to go ahead and start broadcasting transactions as he/she wishes for later configuration on Automate Proxy’s dashboard. The way it works, the transactions are not scheduled to go out just yet, but they are stored and will just be ready to go off once the user setups the proper conditions for them on Automate Proxy’s dashboard.
Here you can see how complete and tidy these transactions show in nounce order so the user is able to understand what is being done and what are the conditions for each one of them.
Suggested Uses for Automate Proxy
This new feature came to be as we kept on receiving feedback from our current users that wanted to escape the high fee period on the chain when dealing with DeFi products.
For example, let’s say that John wanted to sell 0.1 ETH via Uniswap, but wasn’t willing to pay an insane amount of ETH for gas — which in some cases can be quite prohibitive. So, John would simply go through Automate Proxy, schedule a transaction using his MetaMask as he would normally do and while doing it, he’d setup the max amount of Gas Price and Limit he’s willing to pay for this transaction.
Once that’s done, he goes to Automate Proxy’s Dashboard and reviews his transaction, even timing for when he’d like to Automate to start looking for a proper gas fee to place his transaction on chain.
Another example is if John uses Curve to Yield Farm his funds. In the same fashion, he can simply perform the vesting transaction for his tokens and then let Automate know when to start trying to place his transaction on-chain. This could also be added with a transaction to automatically sell the coming tokens on Uniswap if John wishes so.
And we could go through a multitude of examples where Automate Proxy can really make the day of any crypto trader/farmer these days on Ethereum — not only helping out with gas costs but also with timely executions, which in many cases is what happens with farming.
When Is Automate Proxy Coming Out
As our team does the best to make this available, we believe that in the coming weeks we will be looking for beta-testers among our community to start using Automate Proxy and giving us feedback before releasing it to the general public.
