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Running an NFT Bot
NFT bots monitor asset prices and execute Limit, Stop Limit, Take Profit, Stop Loss, and Liquidation orders.
You can find the instructions on setting up an NFT bot here, and there is an "nft-chat" channel on discord where discussions relating to this take place.
Running an NFT bot naturally requires an NFT, and also requires that you spend MATIC and LINK in order to execute the transactions and pay the oracles for providing the price.
The reward for the order is 5% of the collateral for a liquidation, paid in GNS. For all other types, the reward is 0.02% of the position size (with leverage) for crypto, and 0.002% for forex.
The reward is then distributed in three ways to incentivize the most productive behaviour:
- 40% to the first person who triggered successfully the order.
- 50% as shared block rewards, to each of the following 10 people who executed that order within the same winning block.
- 10% to a pool based on the number of orders you were first to execute.
The Pool is measured in rounds of 50 orders, when a round is over the total Pool value is divided among each person who was the "First in the block" - so if your NFT Bot executed 3 of the 50 orders as the first in the successful block, you will receive (3/50=) 6% of the pool value.
The functions on the nftRewardsContract are:
- claimTokens: To claim both the first and shared block rewards
- claimPoolTokens: To claim the pool rewards.
The present structure of rewards is planned for review to allow the most fair distribution of rewards after the completion of higher priority developments.
Last modified 2mo ago