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Welcome back to Hydrogen Strategy Guides! Let's create an interesting trading strategy that can only be created on the powerful and flexible Hydrogen decentralized exchange 💦
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Let's start by looking at the strategy Bill created last week. This was a simple buy low sell high ETH/USD strategy comprised of two trades: - Market order buy ETH at its current price of $2000/ETH - Limit order sell ETH at $3000/ETH
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You'll notice that Bill defined his strategy in ETH and USD and implemented the limit order in WETH and USDC. This is because Hydrogen is a purely onchain protocol that facilitates trades between ERC20 tokens.
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Bill chose to accept USDC because it is popular on Base. But it's not the only option. There are many quality usd-pegged stablecoins to choose from. He has a list of seven tokens that he would be willing to accept: - USDC - USDbC - axlUSDC - DAI - crvUSD - MIM - DOLA
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Bill decided to leverage Hydrogen's flexibility and created an ETH sell order that accepts any of these tokens at $2100/ETH.
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Why would he build it this way? Well, from the market taker's perspective his single order now appears as seven orders or seven different swap paths. A market taker that holds any of these seven tokens may now swap directly to ETH. This means that Bill's ETH is more likely to sell and be sold sooner.
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Bill was able to create this pool using Hydrogen's unique grid order feature. Grid orders can be thought of as a set of limit orders. Instead of returning the tokens back to the pool, Bill instructed each limit order to send the tokens bought to his wallet, allowing him to spend them as soon as his order is filled.
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Bill created this pool on Base. It is live and ready to be traded against. https://app.hydrogendefi.xyz/#/pool/?poolID=16002
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You can copy Bill's strategy. This strategy cannot yet be created on the Hydrogen interface. You may use scripts to build custom strategies. Some example scripts are in the git repo, including one to create this pool https://github.com/HydrogenDeFi/hydrogen-core/blob/main/scripts/base/mm02-createGridOrder.ts#L214-L274
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