Practical Examples
Some examples of what you can do with Daemons
The following examples are simple, tried, and tested financial automation that has been employed successfully in a variety of markets throughout the years. Daemons scripts can be set up to automate these strategies for your DeFi assets with a few clicks.
Time in the market is always better than timing the market. That's why automatic dollar-cost averaging has been a very successful strategy. Daemons can help you set up your own, personal DCA strategy with a single script.
Satisfied with your assets appreciating in value and would like to take some profits? Tired of the 24/7 crypto trading and want to protect yourself from a potential sudden price drawdown in order to get a peaceful, good night's sleep? You can also do set a stop-loss threshold to trigger your hedging strategy automatically.
Still can't sleep? Is your Aave Loan close to liquidation and you might be caught pants-down in an overleveraged position? No worries! Setup a script that takes care of your Aave loan Health factor and takes care of your leveraged position while you enjoy sleep's sweet embrace.
History has shown that not all stablecoins are created equal. One might say that some are more "stable" than others, but you just can't resist that sweet sweet yield farming. Imagine you had a Daemons script that was gonna save your capital from a major depegging event (e.g. the Terra UST incident). Quickly dismantle your Curve 3Pool position (USDT-USDC-UST) and exit before the smoke turns out to be a burning inferno.
If all the above scripts felt useless to you, we've been expecting you. Welcome, fellow degen. We all know why we are here, to push our never-ending appetite for danger, thrills, and yields to the limit! We live and thrive in these environments. Risks are not part of the game. Risks ARE the game.
You finally found where to deposit your collateral to get the best rates on a crypto loan. However, the yield farming opportunity is on another chain. You are a degen, you can't compromise, you have to use both. Well then, you come to the right place. Not only you can do that, but you can also automatically increase your leverage each time you have the ability to do so!
The only limit in terms of usability and strategies is your own imagination!
Anyone can deploy their own strategies, have them executed on Daemons, and not have to worry about it anymore. This is a new era in DeFi and you are in the right place at the right time.
Last modified 8mo ago