The Open DeFi Notifications Protocol has integrated with LEVEL Finance, the first Perp DEX to integrate!
LEVEL is an omnichain decentralized and non-custodial perpetual exchange offering a unique user-elected risk management framework built entirely from the ground up, enabling bespoke and innovative solutions for liquidity providers.LEVEL has facilitated over $18 billion trading volume and accrued over $23M in protocol revenue in just 5 months since launching, marking it the most successfully launched perpetual exchange in DeFi.
LEVEL users can now set up ‘limit order executed’ and ‘liquidation’ notifications to provide 24/7 monitoring of trades.
The Open DeFi Notification Protocol by defi.org is a community led initiative to provide users with decentralized and free mobile notifications for on-chain events.
When trading with leverage on LEVEL, users must be conscious of liquidation risks which happen when an open trade position cannot cover the margin fee ($5) or is lower than the maintenance margin (1% of Position Size) which will result in liquidation. Thus, users currently must wait at their computers to know their order's liquidation status.
Additionally, when trading with Limit Orders on LEVEL, tracking and knowing if an order has been filled can be cumbersome without being present on the webpage.
Well, not anymore!
Using the Open DeFi Notification Protocol, LEVEL users can set up “Limit Order Executed” and “Liquidation” notifications which will issue an alert when a trader's position is liquidated, or their limit order has been filled. In this way, users have 24/7 monitoring of their position status and can take immediate action.
The Open DeFi Notification Protocol is an open initiative to provide users with decentralized and free mobile notifications for on-chain events.
The addition of LEVEL makes for an impressive lineup of leading DeFi projects which have already been integrated into the Open DeFi Notification app for the benefit of their users, including, among others: Aave, Uniswap, SushiSwap, QuickSwap, PancakeSwap, and more…
The app supports over 30 protocols across 7 networks: Ethereum, BSC, Polygon, Fantom, Cronos, Avalanche, and Arbitrum!
The Protocol has been implemented fully by the Orbs network and will be executed by the Orbs Guardians, making this the 1st fully decentralized implementation of a notification protocol.
Become involved and contribute: https://github.com/open-defi-notification-protocol
Learn more about the Open DeFi Notification Protocol here.
The Open DeFi Notification Protocol is a beta version that is still under active development, and all underlying digital assets, blockchain networks and DeFi platforms are also subject to ongoing development, and as such, the protocol or the underlying platforms:
(a) may contain bugs, errors and defects,
(b) may function improperly or be subject to periods of downtime and unavailability,
(c) may result in total or partial loss or corruption of data or a delay or a failure to send or receive expected notifications.