The Earn Tab Explained
Whether you’re new to the BOTS app or you’ve been using it for a while, you must’ve definitely explored the Earn tab in the BOTS app. In this post, we explain all there is to know about this tab.
When you visit the Bot store, the first thing you see will be the Earn Tab. Here, you will find all the earn bots - old and new. Let’s dive in deeper.
What are earn bots?
Earns bots are bots that offer a fixed reward. This is possible because your funds are being used to make a decentralized financial system (DeFi) operate. There are many ways your funds can be used; a few examples are staking, automated market making, and providing liquidity. You will receive a payout per day/week/transaction in return for utilizing your funds. In times of uncertainty, these bots can be a great option.
The different categories of Earn bots that you may come across in this tab:
- High-fixed returns: These bots exchange your deposit into two crypto assets which are then provided as liquidity on a decentralized exchange. When traders use your liquidity for swaps, they pay out a trading fee for each transaction.
- Charity bots: These bots can use various Earn methods, like staking. A fixed return percentage will be donated to a charity mentioned in the bot’s description.
- Savings bots: These bots exchange your deposit into a USD-based stable coin and use it for BOTS’ liquidity pool. Only the exchange rate between the USD and Euro affects the results.
And there you have it! A short yet helpful crash course on everything you need to know about the Earn tab.