SpookySwap, a leading decentralized exchange (DEX) on the Sonic blockchain, has integrated Orbs' decentralized Stop-Loss Take-Profit (dSLTP) protocol. This integration makes SpookySwap the first DEX on the Sonic network to offer fully automated stop-loss and take-profit orders for spot trading, a feature set traditionally associated with centralized exchanges (CeFi).
The dSLTP protocol leverages Orbs' decentralized Layer 3 infrastructure, making it permissionless and trustless. This solves a significant user experience gap in DeFi, where traders previously had to constantly monitor markets or rely on third-party bots to manage risk and secure gains. With this tool, traders can now set automated conditions for any swap directly on-chain, enabling precise risk management and execution.
"Bringing decentralized stop loss and take profit orders on-chain advances Orbs’ mission to deliver CeFi-level trading automation across DeFi ecosystems," stated Ran Hammer, Vice President of Business Development at Orbs. He added that SpookySwap's integration demonstrates how Layer 3 infrastructure can enhance user experience and expand possibilities for decentralized market traders.
The dSLTP protocol joins Orbs' existing suite of advanced trading products, including dLIMIT and dTWAP, which already support millions in monthly automated trading volume. This integration is based on an established partnership between the two projects. SpookySwap is now positioned as one of the only DEXes in the broader crypto ecosystem to offer fully functional stop-loss and take-profit orders for spot trading, with best-available pricing across nearly all trading pairs on Sonic.
The crypto community is now watching to see if this added sophistication drives increased active trading volume on SpookySwap and encourages the adoption of Orbs' Layer 3 infrastructure by other decentralized exchanges.
