W3P: FireStarter aka Gelato for Lit Actions
0x869e
November 11th, 2022

Lit Actions allow small scripts to run “within” a wallet but currently must be initiated by the user.

FireStarter is “Gelato for Lit Actions”, allowing any Lit Action to be kicked off based on onchain events, token prices or as cron jobs. It’s Zapier for your wallet AND can talk to the off-chain world (vs Furucombo/DeFi Saver).

I believe this is currently the best tech to build a true “Web3 super app” or X.com as Elon likes to say.

With FireStarter, you could write open-source (stored on IPFS) scripts to do: * Dex Limit Orders (important right now!) * Dynamic NFT updates * Liquidation protection (also imp right now) * Any arbitrary Automation

Imagine enabling the “Aave Saver” bot 🤖 on your wallet which would take any dormant capital (ETH, USDC) and auto-deposit into Aave to start earning yield. It reimburses itself for gas from the yield, then you keep the rest. It auto-withdraws if you try to send the capital. 🤯

We’re only beginning to unlock the potential of “automated finance” and Lit Actions / FireStarter would be the best trustless way to do it. 🔥

Checkout other awesome ideas for Lit Protocol below:

👇


Web3 Pitches (W3P) are short product write-ups that describe an emerging problem or opportunity in the Web3 space and proposes a minimal-viable solution that could be tested and iterated with users. The pitches are presented in screenshot essay form, which is meant to be short enough to be consumed on one page of a mobile screen. :-)

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