Automating Crypto Trading While Securing Governance Structure Through DABots: Introducing RoboFi

Blockchain technology and crypto-asset trading existed almost always together. In the past decade, trading cryptocurrencies competed with the technology behind it. Users had to concede either from trading options or the real innovation behind the crypto world: decentralization. However, we see efforts to create ‘’real’’ decentralized platforms which let everyone reach financial freedom. Especially in the DeFi summer of 2020, many DeFi applications boomed in terms of both user amount & trading volume. At first, it is a great sign for the crypto world because it means that many users started to decentralize. But, DeFi came with problems! Many platforms have suffered from exploits due to basic smart contract failures, some of them faced interrupted working time due to network congestion, etc. In such an environment, the RoboFi team has an idea to overcome the security issues and the barriers in front of financial services for the majority: The trading bots utilizing decentralized protocols.

In that article, I want to summarize the major challenges that ordinary traders & institutions face while interacting crypto ecosystem, the possible solutions, and the RoboFi ecosystem. You’ll learn the mechanism behind trading bots, and how you can participate in the governance scheme while getting quicy APR% by only staking some stablecoins into the RoboFi vaults. Now, let’s start with the basics.

The Major Challenges In Current Crypto Platforms

For traditional financial institutions, the biggest challenge is probably the lower deposit limit to start using their trading tools. Most of them prefer to work with the ‘’whales’’ instead of ordinary people. Thus, it creates a barrier between FX platforms and us. This problem seems to be already solved by crypto platforms because anyone with a wallet that can handle the transaction fees has the right to interact with any smart contract & its UI.

For example, Uniswap or Serum is the core site for basic trading. On the other hand, scalp traders are welcomed by decentralized finance products. Drift Protocol or Gains Network allows them to use leveraged products. Until now, you may think that ‘’everything is great so why do we need a solution?’’. The answer is everything is not clear as you may think.

Now let’s check the problems one by one:

• Fund Safety: The primary objective is still security! None of us want to lose funds due to a smart contract failure or a simple code. Some of the platforms above still didn’t face a hack yet, but it doesn’t mean that they will ever not! So, a credible audit is necessary to start an interaction. RoboFi’s code is open-sourced, and everybody can see them on GitHub.
• Trading Performance: In the last year (and decade), some of us did some Xs in our portfolio. And they shared the stories behind it with us. It was impressive! But do you know how many of them are still active & gathering the same performance? The principle I want to emphasize is sustainability is more important than reaching high PnL ratios over time. Trading via bots makes this possible for everyone.
• Marketing for Bot Creators: Creating a trading bot is much easier when compared to marketing it. Tons of ‘’traders’’ appeared last year. Nearly all of them are ‘’referral income’’ hunters. They appear to be ambassadors of some projects at first sight, but all the idea disappears after a certain amount of time. RoboFi won’t claim any ‘’limited’’ marketing structure. It offers continuous trading income for trading bot owners. By doing so, they receive more addresses belonging to their trading perspective. Win-win for both sides.

What is RoboFi?

RoboFi is a trading experience improver platform using cutting-edge technology and blockchain innovation. Due to the challenges I listed above, there is a need for automated trading bots. On the other hand, these bots must have a high-quality structure and a trustworthy creator. RoboFi seeks to utilize trading bots for managing the crypto portfolio and letting the community build on it. But the feature is not limited only to trading options. You have the right to utilize the RoboFi platform to create IBO (Initial Bot Offerings) to raise funds for trading in higher volumes. By doing so, community members receive more ROI. And it results in a win-win for both sides, again.

The current options for trading bots are mainly under the control of centralized exchanges (CEX). Some of them offer a ‘’follow’’ option for a specific trader. But to do it, you must complete some steps. In the RoboFi ecosystem, anyone can follow the trading strategy (not the person)! So, the process becomes easy and more smooth. There are three kinds of trading bots: specific for CEX, DEX traders, and one for the DeFi farmers. There are 6 active pools now created by different people each. You can see the vaults, APY ratios, and the creators behind them below.

DABots (Decentralized Autonomous Bots) are only one component of the RoboFi ecosystem. In addition to them, several features make RoboFi unique. Some of them are as follows:

• RoboFi Store: A place where you can observe existing, depreciated, and upcoming vaults.
• RoboFi Treasury: A kind of token bridge that converts the supported assets into the ‘’sTOKEN’’ form (from BUSD to sBUSD, for example). The vault works with sTokens and distributes trading dividends using sTokens.
• RoboFi Exchange: A marketplace to buy & sell the underlying bots’ tokens. You should check carefully before apeing in a vault.
• RoboFi Lending: A protocol that lets anyone borrow supported assets in exchange for the ones that the user holds in his or her wallet. By doing so, RoboFi creates space for the ones that don’t want to have stablecoins.
• RoboFi Earn: The most basic feature of RoboFi. The users deposit stablecoins into the relevant pool, then receives interest. By doing so, the liquidity of the platform increases plus the user gets rewarded for interacting with the platform.

The Native Token $VICS

Like all the other DeFi applications, RoboFi has its native token, too. The total supply of $VICS is determined as 600,000,000 units in total. 46% of the total supply is reserved for the community, 20% for the company, 7% for partners, and remaining 27% will be used in token sales.

The features of using $VICS are as follows:

• DABots creation: VICS is a must to be able to create and list bots to RoboFi Ecosystem
• IBO Participation: VICS is a must to be able to buy DABots G-tokens.
• Governance rewards: VICS is used to pay governance rewards to bots’ governance users.
• Change/governance DABot settings: VICS is a must to be able to create a new proposal to change any bot’s setting. Once a proposal is created, it will be voted by governance users to approve or dismiss it.
• Liquidity Mining and Staking: users can stake VICS and get rewards in VICS