Chainlink Keepers officially launched on the mainnet to provide dApps with secure and low-cost off-chain computing resources

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After various projects entrusted the oracle function to Chainlink Price Feeds and other decentralized solutions, DeFi really ushered in a wave of innovation. Developers no longer need to spend time developing the core back-end infrastructure, but wholeheartedly innovate DeFi products. Similarly, Chainlink Keepers will also accelerate the innovation of hybrid smart contracts and provide developers with access to safe and reliable off-chain computing resources. With Chainlink Keepers, developers can automatically trigger on-chain functions when pre-defined conditions are met without manual operations, no need to rely on centralized services or modify the underlying protocol.

We successfully released the beta version before and conducted live testing with a group of initial users. And now we are happy to announce that Chainlink Keepers is officially launched on the Ethereum mainnet and is fully open to the public. All developers, decentralized applications, and DAOs can use Chainlink Keepers as a decentralized off-chain computing layer to reliably and automatically trigger key smart contract functions, and implement advanced dApp functions through custom contract triggering methods.

Chainlink Keepers can implement a series of rich DevOps services and off-chain computing on behalf of hybrid smart contracts, including:

Execute limit order transactions on the decentralized trading platform.

Tokens are minted when the reserves increase.

Get income from the vault.

Rebase elastic supply of tokens.

Rebalance on-chain transactions and liquidity mining strategies.

Liquidation of loans with insufficient mortgage rates.

The asset is unlocked after the idle period ends.

Recharge when the balance of the token is lower than the minimum value.

There are many other application scenarios to be developed.

The development team can also register on the OpenZeppelin Defender platform and directly manage Chainlink Keepers tasks. OpenZeppelin Defender is a security suite for Ethereum and EVM projects

Chainlink Keepers is a mature infrastructure for automating smart contracts

The Chainlink 2.0 white paper mentioned the grand vision of the Chainlink network, that is, the decentralized oracle network (DON) can not only transmit data between the chain and the chain, but also perform calculations under the chain. The combination of Chainlink Keepers and Chainlink’s previously released Chainlink VRF and OCR will jointly promote off-chain computing services to a new level. Developers of hybrid smart contracts can obtain off-chain computing services through Chainlink DON. It is particularly mentioned that smart contract execution can be automatically triggered based on predefined conditions.

A smart contract is a deterministic program that runs on the blockchain. It inputs data in the form of on-chain transactions, triggers the contract code logic, and finally outputs the result. Developers can use Keeper tasks to create event-based verifiable data inputs, and data will be broadcast on the chain only when certain conditions are met. Some Keeper tasks are relatively simple, such as obtaining income once a week at a fixed time; while other keeper tasks are relatively complicated, such as calling the liquidation function when the user’s loan mortgage rate is insufficient. Each Keeper task needs to start off-chain calculations, first verify that the conditions are met, and then trigger on-chain functions.

Chainlink Keepers allows developers to be creative and automatically trigger the execution of smart contracts based on verifiable conditional data to create a variety of innovative applications. Chainlink Keepers provides developers with a highly programmable framework that uses off-chain computing resources to create advanced keeper tasks. In addition, developers can also use a reliable and verifiable decentralized node network to outsource keeper tasks.

Chainlink Keepers provides developers with high-quality decentralized off-chain computing resources and has the following key advantages:

Reliability is guaranteed to the greatest extent- Chainlink Keepers is run by a professional DevOps team. These teams have already guaranteed tens of billions of dollars in value for Chainlink. In addition, Chainlink Keepers operates in a decentralized architecture, which can automatically perform failover and completely eliminate the risk of single points of failure. 

On-chain verification- Chainlink Keepers has a set of robust on-chain monitoring tools that can generate EVM calldata for off-chain calculations, allowing users to evaluate the data input of Keeper nodes and verify conditions before performing key on-chain operations.

Low cost- Chainlink Keepers can carry out complex off-chain calculations and establish a node rotation screening framework to avoid gas price wars, so the cost is maintained at a relatively low and stable level.

Keepers assists Chainlink’s ecological expansion

At present, hundreds of users are using or actively integrating Chainlink decentralized services such as Price Feeds, Chainlink VRF, and proof of reserves. And Chainlink Keepers will bring new functions to the Chainlink ecosystem, help all projects develop more advanced hybrid smart contract applications, and create additional value for users.

The following are some of the Chainlink ecological projects that have been launched or are integrating Chainlink Keepers. These use cases demonstrate the many unique values ​​that Keepers bring to the Chainlink ecosystem.

Aave

Aave is a DeFi liquidity protocol. Users can borrow encrypted assets on the platform, provide liquidity to the platform and obtain income. Aave will use Chainlink Keepers to continuously monitor the health of user loans off-chain, calculate the loan mortgage rate, and check whether the mortgage rate is lower than the liquidation threshold set in the fund pool (such as 150%). If the loan mortgage rate is found to be insufficient, Chainlink Keepers will call the settlement function of the Aave protocol to ensure that the mortgage is sufficient to repay the loan even in the case of severe market fluctuations or severe network congestion. Sometimes liquidation of a loan is not profitable for the liquidator, and unliquidation will lead to insufficient mortgage rate, so Keepers is particularly important. Every Keeper will be financially motivated to perform all registered maintenance tasks to ensure that all positions can be liquidated in a timely manner even if there is no profit space.

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PoolTogether

PoolTogether is an open source decentralized protocol that provides users with lossless savings games. The user puts a token into the fund pool to generate interest. After a period of time, all the interest in the pool will be awarded to a randomly selected winning user. Chainlink Keepers can be used to continuously monitor the fund pool, and call PoolTogether’s smart contract to notify the fund pool when the game starts and ends, thereby fully automating the game and payment process.

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Synthetix

Synthetix is ​​a decentralized derivatives protocol. Users can obtain over-collateralized synthetic assets on the chain and trade with liquidity pool contracts with zero slippage. Synthetix will use Chainlink Keepers in the Fee Period Closing service. Chainlink Keepers will call this function at the end of the transaction fee period to automatically allocate the transaction fees and staking rewards of synthetix.exchange.

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Chainlink’s expanding Keepers ecosystem

Bancor: It is a decentralized trading platform that adopts an automatic market maker model, which supports unilateral liquidity pools and avoids impermanent losses. Bancor plans to integrate Keepers in the upcoming V3 to further simplify the DeFi user experience for end users and add more advanced features to the AMM protocol.

Alchemix: It is a loan agreement for automatic repayment, depositing the user’s mortgage funds into Year’s income aggregation vault, and the interest generated is used to repay the user’s loan. Alchemix plans to use Keepers to trigger automatic gains from the vault and automatic deposit of funds to the vault to automatically repay user loans and automatically deposit mortgage assets into Year.

BarnBridge: It is a DeFi risk tokenization agreement that creates financial derivatives to hedge against fluctuations in income and market price fluctuations. BarnBridge integrates Chainlink Keepers in its product SMART Exposure, monitors the risk exposure of the token position off-chain, and calls BarnBridge’s on-chain contract when it needs to rebalance the treasury.

Others: In addition, there are many other DeFi applications planning to integrate or have successfully integrated Chainlink Keepers to automatically trigger the smart contract function. These DeFi applications include Visor Finance, ParaSwap, yAxis, Base Protocol, EthSign, Nifty Royal, B Protocol, Impermax, Flurry Finance, DeFi Network, and Finance.vote.

How to use Chainlink Keepers in dApps

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Developers can use Chainlink Keepers to easily add new maintenance tasks and automatically execute various smart contract functions.

Chainlink Keepers supports a variety of different configuration modes, performing calculations off-chain and verifying on-chain. The following design ideas are for developers’ reference:

Verify the conditions that trigger the contract

Keepers can call functions on the chain when the conditions are met, but developers can also customize how the smart contract verifies the keeper transaction before executing the code logic.

When the conditions are met, there is no need to verify, and the on-chain contract is directly triggered- when the predefined conditions are met, the state change must be executed, but in some cases, the execution of the state change without meeting the conditions will not cause any problems, such as early before the end of the cycle Get income from the vault, or recharge the state channel in advance before the balance falls below the threshold. In this case, the smart contract does not need to verify the conditions first, so as to avoid the keeper call that is of little value to the user as much as possible to reduce the cost.

It is necessary to verify whether the conditions are met before triggering the contract- state changes must be performed when the conditions are met, and in some cases, state changes cannot be performed when the conditions are not met, such as liquidating loans with insufficient mortgage rates or from locked contracts Take out the token. In this case, when the performUpkeep function is called, the smart contract must verify whether the conditions are met, such as checking the price reference contract or block number on the chain to ensure the validity of the state change before executing the contract.

Put high-cost calculations off-chain to minimize on-chain costs

Developers can also choose to use Chainlink Keepers to perform calculations off-chain as much as possible. The purpose of this is to minimize the cost on the chain, especially to reduce the data sent when calling functions on the chain.

One way is to check whether the conditions of a large number of addresses and states are met under the chain, such as first checking which addresses are valid addresses for airdrops, and then performing on-chain state changes for a subset of the contract conditions. The developer calls the function on the chain based on the result returned by the checkUpkeep function and passes in the appropriate data. The most ideal situation is that the smart contract verifies the conditions on the chain, and because the keeper only passes in a part of the relevant data for verification, the gas fee can be reduced to the greatest extent.

Set up multiple maintenance tasks in the same smart contract

You can also use smart contracts to handle multiple maintenance tasks to help developers manage costs on the chain and customize trigger methods for more advanced dApps, such as verifying multiple different conditions before execution. The following are specific examples:

Manage borderless maintenance tasks- create a range bound for Chainlink Keepers to minimize unnecessary on-chain calculations and reduce the computational complexity of contract execution on the chain. In this way, developers can maintain chain execution within the preset scope of activities, and the upper limit of transaction execution cost is also relatively easy to predict.

Configure checkUpkeep function- write smart contract code, execute different logic based on the calldata of Keeper, and execute different logic in the same smart contract function. Developers can use this function flexibly according to their own unique application requirements, such as triggering to obtain a certain liquidity mining income when the conditions are met, or reinvesting positions when the conditions are not met.

Secure off-chain computing will promote the future development of advanced hybrid smart contracts

Chainlink Keepers will bring more advanced decentralized services to developers and help them build the next generation of hybrid smart contracts, unlocking greater value for users. Developers can not only use the Chainlink oracle infrastructure to safely access off-chain data sources, but also use Chainlink Keepers to automatically trigger on-chain functions based on predefined events, while ensuring safety and reliability, reducing costs and being able to上Verify.

The emergence of Chainlink Keepers has further narrowed the gap between Web3.0 and Web2.0 in terms of development maturity and agility, allowing developers to easily access verifiable data and off-chain computing services, while ensuring security and reliability . Chainlink provides developers with a mature and easy-to-operate decentralized oracle network (DON), so developers can focus on core protocols and product development, which will help promote the innovation and development of the smart contract economy and bring to the whole society To have a far-reaching impact. Chainlink Keepers is just our first step towards the overall goal of Chainlink 2.0. Ultimately, we hope to provide developers with a full set of off-chain computing services to help developers develop more rich products on the blockchain.

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Chainlink Keepers is only the first step to fully realize the decentralized oracle network (DON). Ultimately, Chainlink will provide a series of rich off-chain computing and off-chain services for smart contracts.

We welcome all developers to send emails to keeper@chain.link to share any feedback and help us improve the functions of Chainlink Keepers, improve their reliability and usability, and enrich their functions.

 

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/chainlink-keepers-officially-launched-on-the-mainnet-to-provide-dapps-with-secure-and-low-cost-off-chain-computing-resources/
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