Introducing $BOTS, The Token That Increases in Value by 5% Every Day
Sounds like a dream, right? Well, thanks to the power of decentralized finance, it’s now very much achievable!
The ASI developer has designed a smart contract that can burn 5% every day out of the liquidity on any Decentralized Exchange. This would help maintain price stability and also guarantee a 5% daily increase in the token price.
You might wonder how the smart contract can control the token supply while it is locked in the liquidity pools.
In liquidity pools, the price of a token is typically determined by the available liquidity of the token pairs (for instance, ETH/BNB) divided by the number of tokens in the pool.
Quite simply, what the smart contract does is to burn 5% of the BOTS token supply in the liquidity pool to increase the price daily.
As such, the ETH or BNB supply isn’t affected in any way since no one can directly control it. Notably, this function will automatically operate every day across approximately 6,500 blocks on the Ethereum network and 30,000 Blocks on the BSC.
The sections below will explain more about $BOTS and how it works.
Why has the $BOTS token been created?
Short answer: BOTS was created in a bid to further the initial aim of implementing artificial intelligence in decentralized finance.
The machine learning and DeFi journey began with ASI and BASI on the ETH Network and the BSC respectively. Now, the developer has decided to take things a step further by designing a stable rewards mechanism for asiswap.finance DEX that would take AI to the next level in DeFi.
Ultimately, this move would make BOTS a trusted token by crypto enthusiasts and investors in the decentralized finance space.
What is the use case of the BOTS (and BBOTS) token?
BOTS and BBOTS are designed to be rewards tokens for ASISwap, the decentralized exchange created by the ASI developer. BOTS is the best way to reward the liquidity providers and WELD holders by a token that can only go up in value.
Can BOTS get listed on Centralized Exchanges?
Yes, it can. BOTS and BBOTS are standard ERC-20 and BEP-20 compliant tokens with a few added functions to burn the token supply from the DEX. The price will impact the CEX because of the arbitragers.