Ruby has just launched a new feature: DCA trades!
Dollar-cost averaging is a popular strategy for buying (and selling) crypto assets. Instead of making one large purchase, users buy a fixed dollar amount of crypto at regular intervals. This smooths out the ups-and-downs of the market, and reduces overall risk.
Lots of centralized exchanges offer DCA buys, but few DEXs do due to the disproportionate cost of gas fees for small trades. SKALE's gasless architecture offers the perfect way to implement this feature, reducing risk and adding flexibility for portfolio management.
Using DCA On Ruby
Placing DCA orders on Ruby is straightforward and highly flexible.
- Head to the Advanced Trade page from the Swap menu.
- Select your preferred asset pair from the dropdown menu at the top.
- Click the DCA tab under the chart.
There are a number of fields to fill in on the DCA order form:
- Swap Interval: How often your buys/sells are made.
- Total Duration: The period of time over which you want to make these trades.
- Minimum/Maximum Price: These are required fields, and allow users to avoid buying or selling above or below a certain price.
- Spend Per Swap: How much of the selected token you want to buy or sell.
- Total Spend: How much of the token you will trade over the allotted time span (spend per swap * total duration / interval).
- Buy/Sell slider: Whether you want to buy or sell the selected asset.
In the example above, the user will make one swap every hour (60 minutes), for a total of 168 hours. 1 RUBY will be sold every hour, for a total of 168 RUBY. However, sells will not take place if the price is below 0.01 USDP or above 0.05 USDP/RUBY. (Both Minimum and Maximum Price fields must be filled in regardless of the DCA type.)
Each DCA order costs 50 RUBY (this will be added to the order if you are selling RUBY, otherwise it will require separate approval). Click the Buy or Sell button, and confirm with MetaMask. That's it!
Any funds reserved for a DCA order are locked and cannot be used for other purposes while your orders are active. DCAs can be cancelled at any time.