Welcome to Cron Finance
Noun. (computing) A scheduler or timer that automatically starts a job, program, task.
At Cron Finance, we're building advanced fully on-chain trade execution algorithms.
On-chain trade execution algorithms in Ethereum are limited because of a variety of factors such as contract space, gas costs, and algorithmic complexity. The predominant trade execution algorithm today is a concept called AMM (Automated Market Maker), ideated in 2017 by Vitalik Buterin and popularized by Uniswap.
AMMs generally follow a simple mathematical formula
(X*Y=K)and run completely on-chain with zero dependencies on external services. Traders always have a counterparty, anybody can provide liquidity, other protocols can seamlessly compose swap features, and most importantly everything executes atomically in a single Ethereum block.
However, large swaps cannot be executed on-chain because of slippage and MEV attacks that diminish returns. Advancements in trade routing and concentrated liquidity have only partially addressed this issue. Aggregators such as CowSwap have built a complex system of on-chain and off-chain services to further improve trade execution but end up breaking protocol composability.
In the first version of our protocol, we have implemented a fully on-chain time-weighted average market maker (TWAMM) to smoothly execute large swaps with minimal slippage, capital requirements, and MEV attack resistance. In future versions, we plan on building other novel execution algorithms, and layer on features like privacy and limit orders.