What is the currency of bot (What happened to bot coin)?
What is the currency of bot? According to official sources, what is the currenc
What is the currency of bot? According to official sources, what is the currency of bot? Bot is a blockchain smart contract platform. The project was established in 2016 by a team of former Google developers who formed their own community, which is related to companies like Blockchain.com and OpenSea. Currently, the tokens of these projects are mainly distributed in three categories: exchanges, lending protocols, insurance funds, and oracle networks. The most well-known among these services is decentralized exchange protocols.
According to the official website, “a decentralized order book” is a means to achieve automated trading systems, characterized by the automatic execution of price tasks without the need for trust, ensuring accurate price discovery mechanisms, and preventing data tampering on the blockchain, thus avoiding fraud or market manipulation. “Order books in smart contracts” determine whether both buyers and sellers have the right to match orders.
What happened to bot coin
Editor’s note: This article is from Fengchao Finance News (ID: fengchao-caijing), authored by JXkin, authorized to be republished by Odaily Star Planet Daily.
Today, the token bot (BOT) of the first decentralized financial application protocol on Ethereum has plummeted by more than half again.
In the past few days, the market has conducted a series of analyses on this project, but the most controversial part is what happened to it? Why is no one buying its tokens?
First, I believe there are several issues that need attention:
1. In recent times, the trading heat in speculative trades in the market has been very high; 2. since the second half of last year, investors have been focusing on this “small exchange” and “old exchange”; 3. Currently, the overall market sentiment is quite pessimistic, and many users even complain that their accounts were hacked, etc. And now these things seem to be less important anymore, right? Because many people think this may be a scam or a pyramid scheme.
4. Are the “leeks” interpreting this as a means of hype? Many users have expressed that they will continue to hold their positions.
For these critics, this is a big joke. However, some investors also pointed out, “We have seen more and more project teams turning to investment in the cryptocurrency field.” For example, DEX platforms like Uniswap are also constantly launching governance tokens based on the BNB chain, such as “btc.exchange”.
In fact, whether it is BNB or other public chains, they are all worthy of attention. For example, a new DeFi product called “liquidity mining” was recently launched on Binance, which allows users to earn liquidity rewards by purchasing assets such as ETH or BUSD on Uniswap. “If you really want to participate in liquidity mining, you must use a contract to call this function. Either directly create a pool, deposit ETH, and then withdraw LPToken and sell it. In other words, as long as you have a sufficient amount of ETH, you can become an LP.”
Therefore, in addition to the skyrocketing prices, some investors also seem to be concerned about whether this project will collapse in the near future: “If you want to participate in a certain type of product, you must fork it.” Of course, this also means that those who want to participate in the project may not have much motivation. In addition, according to an anonymous source, after the supply of BNB on Uniswap is reduced by about half, this ratio will increase to about 50%. However, if calculated at the current price, the selling pressure may weaken, and as liquidity demand decreases, the price of BNB will also fall by more than 30%. “Therefore, in the next one or two weeks, we expect a stable price. That is to say, when our pricing changes, the price of BNB will rise and ultimately not fall back.” The anonymous source added.
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