Auto Take Profit: Automate your exit strategy and realize profits at your own pace
Realize profits and automate your exit strategy with new and improved take profit, now available on Spark and AAVE positions.
As the chop and boring price action of the bear market come to an end, the simple question on many DeFi natives' minds is, how do I prepare for the bull market?
While Summer.fi vaults and strategies can help you prepare for the bull run, the nature of this release for Summer.fi is a bit different.
Today, Summer.fi is releasing Auto Take Profit, an automation to help you avoid messing up the bull run.
There is no reason to mess this up
One thing we often hear from DeFi natives who have been around for more than one cycle is how easy it is to get caught up in the chaos of a bull run. Everything looks shiny, and prices seem like they will never go down. Discipline and prudence are rare.
That’s why today Summer.fi is introducing a automation that allows you to take a hands off approach to the bull run by setting and forgetting your position and taking the emotions out of your exit strategy.
Auto Take Profit
Auto take profit allows you to set a specific price and LTV to start realizing profits; you can then configure it to continue taking profits when a specific trigger LTV is hit.
For example, let's say you want to realize 30% of your profits when ETH is 5,000 ETH/USD. No problem; that can be done with Auto Take Profit. It will also continue to trigger at your desired trigger LTV, allowing you to continuously realize profits.
Leaving nothing to chance, automating your exit strategy in 1 transaction.
Even if you have a plan regarding the price levels that you want to take profits from a vault, you leave a lot to chance.
- Will you be by your setup when those prices are hit?
- Will you have the emotional fortitude to execute on those prices and follow through on your plan?
- Will you be sleeping or on a plane when those prices are reached?
All of these questions are no longer relevant with Auto Take Profit. Simply set a price at which you want to start realizing profits, and let Summer.fi’s Auto Take Profit do the rest.
With Auto Take Profit, you will now be able to do the following from any AAVE, Spark, Borrow or Multiply position:
- Realize profits at a specific Collateral Price.
- Continuously Relative to a trigger LTV of your choosing.
- Withdraw Collateral OR Stablecoins to your wallet at those price levels
- Choose how much of % of your position you’d like to realize profits with
- Automatically bundles with stop loss or trailing stop loss.
- Forecast and analyze different scenarios for taking profits.
Getting started
To get started, simply navigate to Optimization tab of an existing vault or after creating a new one for supported protocols of AAVE, and Spark.
Article written by https://twitter.com/samehueasyou
Getting in touch
If you have any questions regarding Summer.fi, contact us at support@summer.fi or our social media.