Automate Your Liquidity Pool Like a Pro with intent builder
Play Video
How it Works
🔍 Introduction:
- The video outlines a method for monitoring liquidity pool partners in DeFi (Decentralized Finance) to manage risks effectively. By tracking a partner’s actions, such as removing liquidity, you can respond promptly to protect your investment.
🛠 How to Build the App:
- Step 1: Begin by navigating to the dApp Builder and creating a new dApp. Name your dApp, add a description, select a category, and set the version.
- Step 2: Enter the Builder interface to start constructing your app. The primary goal is to monitor a partner’s address to observe any significant changes in their liquidity pool behavior.
- Step 3: Use the Token Balance feature to monitor the partner’s address. Import the LP (Liquidity Pool) token address you’re interested in tracking.
- Step 4: Add validation logic to trigger actions if the partner’s balance drops below a certain threshold. This could indicate they’re removing liquidity.
- Step 5: Set up the app to automatically remove your liquidity and convert your assets to a stablecoin or another token of your choice if the partner’s actions meet your specified conditions.
- Step 6: Implement approval processes to ensure transactions are executed smoothly. Customize the app to handle various tokens and pools, adapting approvals based on the user’s selections.
🚀 Finalizing and Testing the App:
- Finalize the app by setting up the user interface. Allow users to input the partner address they wish to monitor, select the LP token, and define their threshold for action.
- Lock certain fields to prevent misconfiguration, ensuring the app operates as intended.
- Test the app to ensure it functions correctly, allowing users to simulate transactions and see potential outcomes before deploying it live.
🎯 Conclusion:
- The video concludes with instructions on how to prepare the app for the marketplace, including editing the app’s description and details to ensure clarity for future users. This tool is presented as a proactive measure to manage and mitigate risks associated with liquidity pool partnerships in DeFi.
🔍 Insight into Intentable Marketplaces: Intentable Marketplaces specializes in providing tools and platforms for creating and deploying decentralized applications (dApps) focused on financial strategies and operations within the blockchain ecosystem.
flowchart TB
A[Start] –>
B[Monitor Partner’s Address] B –>
C[Check Partner’s Balance] C –>
D{Balance Below Threshold?} D –>
|Yes| E[Remove Your Liquidity] E –>
F[Swap Assets for Desired Currency]
D –>|No|
G[Continue Monitoring] F –>
H[End]
