Bot Creator Onboarding Guide
Our goal is to make automated trading worldwide accessible. Without bot creators like you, this is going to be very difficult. So thanks again for helping with our mission.
To help people get the best possible and clearest image of your bot, we created this onboarding guide. When you upload your bot to this platform, we want all parties to benefit as much as possible!
Let’s get started
We’ve cut up the process of creating a successful bot into 10 simple steps. Please note that all mentioned files, websites and contacts can be found in the description of this video.
Step 1 First contact & Information
Make sure to get the BEM API documentation
In order to get your bot connected to the BOTS app you will need to have the latest BEM API documentation. You can find the documentation on our Drive folder. But you can also ask us via email. You can open and use the file with Swagger.
You can also find us on Github
To help you get started we have created a bot factory and made this freely accessible to everybody on Github. On Github you will find some examples of algorithms and you can also run back tests.
Step 2: Setting up your account
To set up your bot creator account you simply go to the app and under the header “more” you will find the Bot Developer Tools switch. After you have switched this on the Factory icon will appear in your menu bar, where you can create your bots.
Step 3: Creating your first bot
After enabling the Bot Developer Tools you can add your bot by clicking on the plus button. Here you can register your bot in our system, after doing this you will be given your unique API key.
For exchange, you select the Hybrid Exchange. The base coin of your strategy can be USDT, BTC or ETH, depending on the exposure you want to expose your users to when your bot is not currently in a trade. At the bottom of this article you can find the BOTS Coin Rules.
Step 4: Write a clear description
The users want to get to know you and your bot before they invest, so it's important to give the users a good impression about your team and what you're all about. Please note that the description has to be added to the ‘new bots form’ and not in the app itself.
The description do’s
- Make it personal (example: Big friendly bot)
- Try to be as transparent as possible, as to how your algorithm picks its trades.
- Stimulate the imagination (example: Ready for take off)
- Be funny
- Be creative with letters and numbers (example: L0ra5.bot)
- Keep IP in mind
- Do a spell and grammar check
- Let people know where they can find your team.
The description don'ts
- Use protected names
- Make claims you can't realize
- Use names of Coins (look carefully there are a lot)
- Give a subjective opinion and wild claims
- WRITE IN ALL CAPS
Step 5: Connecting to our BEM API
After filling in the details in the app you will be running your algorithm yourself, to ensure maximum discretion regarding your IP. That is why you will need to send buy and sell orders to our API.
Step 6: Get ready to share your bot to the world.
Once connected to the API your bot is in quarantine, which gives you time to prepare for the next steps; pushing your Bot out into the world in order to make money with it.
Use your creation story
People love stories. It also will also help us to bring your bots more easily to the users and the rest of the world. We listen to stories. We buy from people. Please share your story with us when you upload your bot as we can offer a number of marketing opportunities to help you out.
Market your bots & vision with content
To make sure that your bot becomes a success on the platform, we will help you bring the user’s attention to your arrival on our platform. After the quarantine period, you will be contacted to discuss the launch date and the message we will be sending our users.
Step 7: Your bot is live!
The time is here, your bot has gone live and will soon be available to thousands/millions of users/people everywhere! Congratulations on this amazing milestone, your first entrance into the Bots platform is a reality and you can start reaping the rewards of your labor and increase your on platform presence with more bots.
Liquidity Model and Risk assessment
To ensure stability and provide security for our clients, we have a liquidity model in place. When markets become extremely volatile, it can become difficult to get out of trades without incurring large slippage. This has the potential to strongly influence the overall return of trades.
To mitigate this, we implemented a system that analyzes the assets that are being traded. When specific asset classes are high in slippage risk, either through low volume or extreme movement, the model can limit the amount that is allowed to be traded in this asset.
Step 8: Getting paid
So our bots have been running for a while and you are ready to take your first Fees. All you have to do is open the Bots app and on the home screen press withdraw and enter the desired amount for withdrawal.
Step 9: Increase market cap
When your trades become bigger, so does your influence on the market, thus decreasing your ability to get filled at good prices and reducing overall returns. To ensure this does not happen we use market caps for the bots ranging from 50k to 1,5 million.
During the first 8 weeks of trading live on our platform your market cap will be below 100k. The exact amount will be determined by the results of the quarantine and the analysis of your tearsheets.
During these 8 weeks, we will monitor if your bot is performing according to the expectations and generates positive results. If this is the case the market cap may be increased, depending on the assets the bot trades and risk exposure.
Step 10: Don’t be a stranger
We strongly encourage you to create more bot for the BOTS app than just one and to help you doing this we would love to stay in touch.
Congratulations! That’s it!
You’re now running a successful bot. Keep up the great work and "Improvise, Adapt, and Overcome". Improve your bot or create another one based on another idea. Who knows… Your bot might be the next Weekly Star!
BOTS Coin Rules
As an addition, you can find an overview of the allowed trading pairs in this image: