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The Open DeFi Notification Protocol is a community-driven initiative that provides DeFi users with decentralized and free mobile notifications for their on-chain DeFi events. It can push alerts on stop-loss, price movement, TVL changes, contract upgrades, and more to help users get an edge.
- Powered by Orbs, Open DeFi Notification Protocol enables DeFi users to stay up with the latest market updates.
- The protocol supports DeFi projects on Ethereum, Polygon, BNB Chain, Fantom and Avalanche.
- It boasts features such as being mobile-friendly, free to use, community-driven, etc.
2022 has been a tough year for cryptos, with the bear market showing no end. Since reaching an all-time high total value locked (TVL) of $190 billion in mid-November 2021, the DeFi sector has fallen below $100 billion at writing.
However, it is unfair to emphasize the fragility and bubbles of this industry because the significance of DeFi is evident. Creating a trustless and permissionless financial market, DeFi will not only stay but also continue to evolve to change people’s financial activities. So, rational investors who believe in a decentralized future choose to be wisely prepared for the bear market until the market improves.
In dealing with the complexity of the DeFi world, one thing to bear in mind is not to let the flood of information overwhelm you. How to achieve this? Many have turned to The Open DeFi Notification Protocol for help. The protocol informs users of important on-chain DeFi events without any cost, in a timely fashion.
What is The Open DeFi Notification Protocol
Open DeFi Notification Protocol is a mobile-friendly, community-driven, decentralized notification tool for on-chain DeFi events. The project is powered by Orbs, who helps implement the protocol and contributes to the integration of many recognized DeFi projects, such as and Aave.
DeFi has disrupted the traditional financial system by replacing intermediaries with peer-to-peer networks and allowing the public to access various digital assets. However, since the crypto market operates 24/7 across a large number of tokens, it is challenging to keep up with everything all the time. Moreover, volatility is another challenge that might cause significant loss, especially when users fail to act promptly during a sudden drop in collateral value.
The Open DeFi Notification Protocol offers users a reliable way to be alerted of different market changes. Thanks to the transparency and open-source of DeFi protocols and dapps, The Open DeFi Notification Protocol can access all the data out there, process it, and turn it into helpful information.
What’s unique about The Open DeFi Notification Protocol?
In the rapidly changing world of DeFi, even the most experienced users can miss critical information. While with The Open DeFi Notification Protocol, even newbies can be aware of market movements all the time.
Free to use and easy to use
The Open DeFi Notification Protocol is available on both iOS and Android. Users can set up various notifications, all to enable better control over users’ assets and to limit exposure to risks. These include alerts on stop-loss, price movement, TVL changes, contract upgrades, etc. Most importantly, this must-have tool for DeFi users is free to use. No subscription, no ads.
Multi-network support?
The Open Defi Notification Network currently supports Ethereum, Polygon, BSC, Fantom and Avalanche. Thanks to an agnostic approach when expanding its ecosystem, the protocol can integrate with any ecosystem that wishes to plug in. As a result, it can empower all DeFi users regardless of their choice of network.
Community-driven and open
Open DeFi Notification Protocol allows any developer to contribute code, any project to integrate, and any validator to help run nodes. Onboarding a new DeFi project to the protocol is extremely easy.
Because anyone can contribute, Open DeFi Notification Protocol doesn’t require the developing team of the project to implement the integration. So even a community member can make this happen. All it needs is to implement a simple JavaScript web3 class that extracts the notification from the chain data. This class is then contributed via PR to the protocol Github repo.
Final thoughts
Though the return is promising, drowning in the massive amount of information can make DeFi investment frustrating. A real-time DeFi event notification tool can be a game-changer in improving the situation.
What’s more, users don’t need to worry about an even more complicated DeFi landscape in the future. Orbs designed The Open DeFi Notification Protocol with scalability and flexibility at its core. As a result, the protocol is ready to integrate with any future DeFi protocols and able to introduce additional notifications as long as they are relevant to user preferences.
The Open DeFi Notification Protocol strives to build a dynamic ecosystem to benefit all kinds of users. The platform launched a new $100,000 developer grant in collaboration with DappRadar, aiming to support developers’ ambitions and brilliant ideas. Developers can find full details here.
Find more about Orbs and Open DeFi Notification Protocol:
Orbs Website
Open DeFi Notification Protocol
Discord
Disclaimer — This is a sponsored article. DappRadar does not endorse any content or product on this page. DappRadar aims to provide accurate information, but readers should always do their own research before taking action. Articles by DappRadar can not be considered as investment advice.
