Dollar Cost Average
What is DCA ?
DCA allows you to set up a recurring purchase of a token. You can set the amount, frequency and duration of the purchase. This is a fantastic, automated and decentralized method of making recurring cryptocurrency investments!
How does it work ?
DCA works with an approval system, each time you swap tokens or use ERC-20 tokens in a smart contract you need to approve the contract to use your tokens. This is a security feature of the ERC-20 tokens. Once you have approved the contract, you can create a position and the contract will be able to pull out funds from your wallet to execute the swap with the approval that you will give. You can manage all your approvals at any time on the DCA section of the app.
Is it secure ?
Every DCA position is linked with a unique smart contract that will only be used to pull out funds for the position. Then, as part of the same transaction, this contract will swap and deliver tokens directly to your wallet. This reduces the possibility of an exploit and allows you to separately manage each position while ensuring that your tokens remain decentralized!
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