A simple tool that allows you to dollar cost average a position automatically and cheaply
This project allows anyone to set and forget a dollar cost average position with low gas fees and ease of use. Let's say you have 1000 DAI and you want to buy 100 DAI worth of ETH every week for ten weeks, you can use this service to automatically make those swaps for you in a cost efficient manner as it leverages optimism.
How it's made
A user deposits their L1 funds and position into the optimism bridge and gets credited their corresponding balance on L2. The user than signs a message stating their intention for dollar cost averaging e.g. I want to tell 10% of my DAI position into ETH every week. The user would then sign 10 different payloads and publish them to a relayer. This relayer would then submit each payload on the specified time and the coins would be swapped on L2 using optimism and Uniswap on optimism. After this process is complete, the user can withdraw their coins from L2 back onto L1.Technologies used