The platform used Tellor Oracles and Uniswap-V2 to set up a trustless automated crypto trading platform without requiring the user to pass minimum return value for safety. Like if you want to trade you need to pass minimum return value for safety, the deadline of trade and Path of the token. The platform removes these hurdles.
The platform calculates the reserve price of pair in uniswap and calculates the tellor oracle price for token pair. And Calculates Slippage rate using these both price. If the Slippage rate satisfied the threshold then platform executes automate trade for trader otherwise it shows the error to perform trade. note: Slippage refers to the difference between the expected price of a trade and the price at which the trade is executed.
For e.g. From the platform Send 1 DAI to pair(e.g. DAI/KNC) and it will execute a single transaction DAI -> KNC swap for you if the slippage rate <=0.9%(threshold) between liquidity reserve of uniswap and DAI/KNC price feed from tellor oracle.
Even using the platform, Liquidity providers can manage pools like they can deposit(add) or sell(remove) liquidity to earn interests. While adding liquidity for token pair whatever value you add for one token so parallelly it calculates the same price of the second token from tellor oracle. So platform will maintain or balance liquidity using tellor price feeds. So, during add liquidity tellor oracles helps to balance the liquidity pool.
The platform also saves trade transaction history and provides all transaction details in a single place in the platform.
In sum up, The platform helps to recognize if the trade's slippage is high than threshold then it will cancel the transaction otherwise it will perform automate trade Using Tellor Oracles.
I never work with decentralized oracles so it was hard for us to how we can utilize the decentralized oracles. So we study about it first and then we decide to use any swapping protocol with tellor like Uniswap or Kyber and make them automated. So, then we decide to use uniswap and we explore it like how uniswap works and how we can integrate tellor with it. So, challenge for us to decide the problem statement for this hackathon. But after exploring we come up with this idea and we also discussed this idea with tellor team for any feedback. Now, we are happy about what we decided that we have built.