Brink Explained: Automated Conditional Orders for DeFi & NFTfi

Brink
4 min readJan 17, 2023

Brink is a cryptocurrency and NFT trading platform built on Ethereum and DeFi. We offer limit and collection orders on ERC20 tokens and NFTs. Longterm, we aim to expand beyond basic order types and introduce new order types such as stop loss orders, dollar cost averaging, automated liquidity balancing, and more.

This post details:

  • What makes Brink different?
  • An overview of Brink’s frontend, API, smart contracts, and more

What makes Brink different?

New Order Types and Automation

Our primary goal is to streamline the trading of cryptocurrencies and NFTs with the introduction of more order types and trading automation.

As of this post, we offer the following types of orders and automation:

  • Create NFT limit orders that work across marketplaces with any ERC20 token (instead of just ETH or WETH)
  • Create collection orders to buy any NFT in a collection
  • Trade ERC20 tokens for other other ERC20 tokens with limit orders

We’re working on launching even more sophisticated order automation soon. This includes examples such as stop loss orders, dollar cost averaging, and automated liquidity balancing on protocols like Uniswap V3. Stay tuned for future posts.

Open and Decentralized

We believe in staying true to the open, decentralized ethos of DeFi: “not your keys, not your crypto”. We put strategies on autopilot without the risk of centralization, freeing up more time for users to focus on the things that really drive trading strategies.

In staying true to this belief, we built Brink to be open and extensible. In contrast to closed or centralized trading platforms, Brink is open source, non-custodial, and fully extensible. We provide smart contracts (more details later in this post) and trigger-based execution engines that can be extended or integrated into other apps. For example, use Brink to add stop loss orders to your DeFi application. Combine order types to create strategies. Introduce entirely new order types by extending our primitives.

If you’re interested in building on our open platform, check out these resources:

Gas Deferred

Trades in Brink are gas-deferred and free to create. You don’t pay gas cost until the transaction is fully executed.

Brink Platform

Brink consists of a web frontend, smart contracts, API, and execution network. This section provides a few highlights on each and links to learn more. If you have questions about any of these layers, reach out to us on Twitter or Discord.

Web Frontend

Visit app.brink.trade, and connect with your Ethereum wallet (such as MetaMask) and place trades for ERC20 tokens and NFTs.

For an overview of what the app can do, check out these resources:

Smart Contracts

Brink has a set of Ethereum smart contracts. For more information about our smart contracts, check out our blog post titled Brink Smart Contract Release.

API

Use Brink’s API to automate your DeFi and NFTfi trading strategies or add trading to your Web3 application.

Fairbid, the winner of the Infinite Hackathon last October, used Brink’s API and smart contracts to build a new approach to minting NFTs. Fairbid proposed a new bidding system, which disincentivized bots and scalpers, to avoid first-runner problems and maximize the value of the auctioneer. Fairbid used a blind Dutch Auction in which participants can make their bid depending on their desire to pay for the mint. With Fairbid, each participant would be able to bid the maximum amount (or range) that they would like to purchase the NFT. Since the bids are blind, people do not know how much the other person is bidding. All of this was done on top of Brink’s API and smart contracts. Read more about the hackathon and Fairbid in our blog post, The Road to Infinite Genesis Hackathon.

With the API and smart contracts, you can use Brink to add trading to your DeFi or NFT application. Get creative by combining order types to create strategies. Developers can even introduce entirely new order types by extending our primitives. Learn more about our API with these resources:

Execution Network

The role of a Brink execution bot (a.k.a. executor) is to watch for optimal on-chain execution conditions for signed Brink transactions and execute these successfully for the highest reward possible. Executors match orders with liquidity in multiple DeFi and NFT markets (such as Uniswap, OpenSea, LooksRare, X2Y2, Sudoswap). Execution uses Ethereum smart contracts to ensure conditions are met.

Anyone can build an executor — the beauty of decentralization! — to connect Brink orders to new pools of liquidity and potentially profit from execution incentives such as arbitrage.

Want to Know More?

Check out the following resources if you want to learn more:

Thank you for reading!

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Brink

Brink is bringing automated transactions and conditional orders to DeFi.