Triggers
Triggers are the essential components that make your automation work. Think of them as the "if" in an "if this, then that" scenario. They monitor specific conditions on the blockchain or in off-chain environments and activate your predefined actions when these conditions are met.
What Are Triggers?
A Trigger is a condition or a set of conditions that, when satisfied, initiate the actions you’ve set up in your automation. Triggers allow you to automate your strategies by defining what events should prompt Otomato to act on your behalf.
How Do Triggers Work?
Here's a step-by-step breakdown of how Triggers function within the Otomato platform:
1. Setting Up a Trigger
User Action: When you create an automation flow, the first thing you do is define the Triggers. These can be based on various factors such as time, market conditions, or specific blockchain events.
Example: You might set a Trigger for "When the price of ETH drops below $1500" or "When my USDC balance reaches a certain threshold."
2. Monitoring by Otomato’s Trigger Management System
System Action: Once the Trigger is set, Otomato’s Trigger Management System continuously monitors the relevant data—whether it's on-chain activity (like token transfers) or off-chain signals (like price feeds).
Real-Time Tracking: The system works in real-time, ensuring that your automations respond as soon as the Trigger conditions are met.
3. Activation of Automation
System Action: When the Trigger condition is satisfied, Otomato automatically activates the actions associated with that Trigger.
Example: If your Trigger was based on ETH price dropping below $1500, and that condition is met, Otomato might automatically execute a buy order for ETH, as you’ve predefined.
4. Execution of Actions
System Action: Otomato’s Action Executor kicks in to perform the specific actions you’ve authorized. These could include anything from making a trade to sending a notification or rebalancing a portfolio.
Types of Triggers
Otomato supports various types of Triggers to give you maximum flexibility:
Market-Based Triggers: Respond to changes in market conditions, such as price fluctuations or volume changes.
Event-Based Triggers: Trigger actions based on blockchain events like token transfers, smart contract interactions, or network activity.
Social Media-Based Triggers: Set off actions based on specific mentions or activities on social media platforms like Twitter or Reddit.
Here is a list of all the Trigger blocs and how to use them
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