We are excited to release Flashswap, an open-sourced, performant, liquidation bot enabling capital efficient and fast liquidations on lending protocols. This move aligns strongly with one of Bastion’s major missions: to democratize access to all parts of the decentralized finance stack.
Many lending protocols gate their liquidators to first-parties only. Bastion was already open to third party liquidators to ensure decentralization and security during volatile times. Today, we share a custom implementation of Flashswap which requires zero capital to run such that even the average user can run a liquidation bot on the platform themselves. This implementation identifies potential liquidatable positions and sources liquidity from local decentralized exchanges such as Trisolaris to perform safe liquidations without requiring capital.
Bastion is a Lending and Stableswap protocol built on Aurora, NEAR’s EVM-compatible layer. The project innovates with novel features such as: isolated markets, interest rate swaps, increased receipt token utility, veTokens, gauges, and boosters. Building on Aurora enables Bastion to create an autonomous interest-rate engine with superior capital efficiency, low slippage swaps, fast transactions, ultra-low fees, precise liquidations, and harness the underlying UX benefits of NEAR.
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DISCLAIMER: This article does not constitute investment advice. Bastion Protocol Token (BSTN) is a means by which users may utilize and govern the protocol. Bastion does not recommend purchasing BSTN for speculative investment purposes. BSTN tokens may lose value or have no value and may have no market. Please read the full disclaimers here.