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Yield Optimized Limit Orders (YOLO)
YOLO maximizes the total return using limit order + yield generation. The sell asset is deposited to a yield generating protocol like Aave, Mstable, Yearn, etc. This feature allows limit orders to earn yield for the time they are on the order book. The order creator receives the buy asset automatically when the order is filled. The orders are filled automatically by "Executors". The executor receives a small fee for executing the orders as they have to bear the expenses for running the relayer service and transaction costs.

Architecture

Features

Yield Optimization

Limit orders earn yield from underlying strategies while unfilled. This makes the limit orders capital efficient as compared to the standard limit orders which don't earn while open on the order book. YOLO can integrate with any yield generating protocol like lending protocol or yield aggregator.

Liquidity Aggregation

YOLO integrates multiple DEXes across a network to aggregate liquidity. As a result of this, the user gets the best prices across the market. This is not possible on centralized exchanges where the liquidity is siloed.

Stop-loss orders

Allows minimizing risk in case the sell asset price goes below a certain price threshold. Symphony limit orders are obviously different from the traditional limit orders where the sell assets are not utilized while the order is on the order book.

Execution Guarantee

YOLOs are executed when the prices across any of the integrated DEXes across a network match the limit set by the user or the stop-loss price set by the user. This is different from other order book DEXes and CEXes which depend on takers for liquidity to fill the orders and if there is no taker (liquidity) then the order is not filled.

Automation

Order creators just need to interact with the protocol once to create the order. The protocol has an actor called “executor” which is essentially a bot that monitors prices on-chain and submits transactions to fill the order when the price constraints match. The order creator doesn't need to worry about anything once they create the order. Decentralized UI
UI is the only point of contact with the user and having a single user interface may block some users to access the protocol. To incentivize 3rd parties to host their UIs, YOLO has an “executor” field in the order. This field can be pre-defined on the UI. The UI host can also run their own executor and use the same executor to fill orders.
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