RoboFi ( VICS ) The First DAO Crypto Trading Bots , What are Bots created for ?
What DABots?
Decentralized Autonomous Bots (DABots) are kinds of Decentralized Autonomous Organizations (DAO), powered by smart contracts. In DAO principal, everything works transparent and fair as it will not depend on one single person’s decision. This means all activities are transparent and verifiable in the blockchains
Decentralized Autonomous Bots (DABots) are a set of programs designed to automate cryptocurrency trading on your behalf. Decentralized Autonomous Bots (DABots) can easily automate the analysis and interpretation of market statistics. They can gather market data, interpret it, calculate the potential market risk, and execute buying/selling cryptocurrency assets.
It’s like hiring an expert to do crypto trading for you while you can sit back and watch the profit grow.
What DABots created for?
Cryptocurrencies are known for being extremely volatile, and prices fluctuate drastically even in the space of minutes. Investors have the opportunity to participate in cryptocurrency trading around the world and at any time of the day. The combined effect of these factors limits the effectiveness of human cryptocurrency trading in a lot of ways.
Investors, in many cases, are unable to react quickly enough to changes in the price to achieve the optimal trades. Investors can not dedicate as much time to the cryptocurrency markets as necessary to always achieve the best trades. That would require round-the-clock monitoring of cryptocurrency exchanges all over the globe. This is where DABots get into the picture. They are nothing but automated tools that conduct trades and execute transactions on behalf of human investors.
How Does The DABots Work
Decentralized Autonomous Bots (DABots) crypto trading bots have the following key components:
Market Data Analysis
This module will save raw market data from different sources, interpret it and decide whether to buy/sell a specific cryptocurrency asset.
Market Risk Prediction
This module is a critical aspect of a crypto trading bot. Like the previous one, this one too uses market data to calculate the potential risk in the market. Based on that information, the bot will decide how much to invest or trade.
Buying/Selling the Assets
This module of the crypto trading bot uses APIs to buy or sell the cryptocurrency asset strategically. Sometimes, you might want to avoid buying tokens in bulk, and during certain situations, immediate purchases could be the best choice. The Execution module takes care of such aspects.
Where Are The DABots Used?
Most crypto trading only work on one type of exchange, whether it is specifically for Decentralized Exchange ( DEX ) or only for Centralized Exchange ( CEX ). The DABots powered by RoboFi is a little different, The DABots powered by RoboFi can be used in both.
• RoboFi DEX DABots - Bots that trade on decentralized exchanges like Uniswap, Sushiswap, Pancake. DEX DABots accept staking of DEX-tradeabletokens (mostly ERC20 tokens on Ethereum network, and BEP20 tokens on Binance Smart Chain network).
• RoboFi CEX DABots - Bots that trade on centralized exchanges like Binance, Kucoin,... Some bots of this type also trade on equity markets and/or Forex. CEX DABots accept staking only from wrapped versions of original tokens (e.g, ETH, BTC, USDT,…)