In 2022 the BOTS app launched a couple of bots that converted the funds deposited into USDT which could then be used as part of our liquidity pool. But what exactly are liquidity pools?
What are liquidity pools?
Simply put, a liquidity pool is a crowdfunding opportunity. In the cryptocurrency world, these pools collect digital assets in the form of cryptocurrency or tokens and are securely stored on a decentralized exchange. The purpose of liquidity pools is to support trading operations on a specific network. In return for this support, users who contribute to the pool are rewarded in different ways.
Liquidity pools at BOTS.
Let’s take the example of the 6.75% Savings bot. Launched early last year, this bot converted the funds you deposited into the USDT asset.
The purpose of this liquidity pool was to provide additional funds to provide a seamless experience for all BOTS users. There was a limited need for funds in the BOTS liquidity pool, so you may find that the bot is currently full.
What did our users get in return?
We offered a more stable return with less risk. This particular bot offered a reward rate of 6.75% per year. At a time when it was difficult to earn interest on a regular savings account, we offered BOTS users a unique opportunity to grow their capital.
Curious how the BOTS app works? Check it out here
Disclaimer:
This blog is for educational purposes only. The information we offer does not constitute investment advice. Please always do your own research before investing.
Any views expressed on this blog and by BOTS do not constitute a recommendation that any particular cryptocurrency (or cryptocurrency token/asset/index), portfolio of cryptocurrencies, transaction, or investment strategy is appropriate for any particular person .
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