When are Automation transactions made?
Overview of on-chain oracles that may influence the timing of automated transactions in different protocols.
Last updated
Overview of on-chain oracles that may influence the timing of automated transactions in different protocols.
Last updated
Once you enable any specific automated strategy Automation bots will constantly monitor your position moving forward, in order to react and execute any needed transaction(s) as soon as your configured trigger (e.g. ratio or price point) is reached.
The system checks all automated positions every minute in order to keep up with potentially quickly changing market conditions. However, it's important to keep in mind that your position's status is effectively decided by the oracles used by the protocol in question. Because of this one can also say that Automation runs on oracles utilised by the protocol you're using.
In practice, automated adjustments will happen either when user adjusts their configuration (potentially to purposefully force an automated adjustment), or when the price of the used aset changes enough that the user configured ratios or price thresholds are reached.
In terms of different price oracles used in different protocols, these are:
Maker OSM (short for Oracle Security Module) is used by MakerDAO and Reflexer. The OSM is best known for its 1-hour update delay, where the prices in the protocol are updated only once every full hour with each next price update also known a full hour in advance. You can check current and next price updates in MakerDAO using platforms such as DeFi Explore and DaiStats, though these are also shown in our Maker dashboard.
Chainlink oracles are used by most other protocols, which includes Aave (v1, v2 and v3), Compound (v2 and v3) and Liquity. You can check the status of all Chainlink feeds on their Data Feeds page and their current prices are also shown in all of the dedicated protocol dashboards at DeFi Saver.