There are different components inside the RoboFi Ecosystem, in which, the RoboFi Wallet and DABots (listed in RoboFiStore) are key components. Besides, we have RoboFi Treasury, RoboFi Exchange, RoboFi Lending, and RoboFi Earn to serve various business functions.
- DABots (Decentralized Autonomous Bots), powered by DAO principle in blockchain technology, are computer programs to trade and yield earnings. DABots can be either CEX DABots (trade on centralized exchanges), DEX DABots (trade on decentralized exchanges), or Farming DABots (yield farming with liquidity pools).
- RoboFi Wallet is a decentralized hierarchical deterministic (HD) wallet that is based on a single random mnemonic phase to generate key pairs (public and private keys) for different types of coins. The mnemonic phrase is only known by the wallet owner. If a user loses this phrase, she or he lose access to her/his asset.
- RoboFi Store is a place to list and regulate all bots in the ecosystem. This component also helps bot creators to manage their bots through different phases of the Bot Life Cycle.
- RoboFi Treasury is a bridge to convert popular crypto assets to sToken. sToken is a mirror copy of a crypto asset and can also be stored in RoboFi Wallet. Users convert crypto assets (e.g., ETH, BTC, USDT…) to get a copy of these assets in sTokens. The conversion rate is always 1:1. For example, convert 1 ETH to get 1 sETH; convert 100 USDT to get 100 sUSDT, and so on. The copied assets (sTokens) are used to stake into CEX DABots. At any time, users could convert sTokens at RoboFi Treasury to get back the corresponding crypto asset (e.g., convert 1 sETH to get back 1ETH).
The following components are under construction:
- RoboFi Exchange is the place where users can buy and sell bot tokens. A user could own bot G-or C-tokens when participating in IBO or bot staking. He/she may store those bot tokens in RoboFiWallet and harvest rewards. However, bot tokens total supply is not unlimited by design. It means, fantastic bots' tokens may be not buyable to everybody when all bot tokens are already “sold out”. So, he/she may go to RoboFiExchange and sell bot tokens with other users if someone else is willing to pay a good price.
- RoboFi Lending is a decentralized lending platform allowing users to join their favorite DABots community even when they do not have the required crypto assets. Each DABot only accepts certain types of crypto assets (e.g., BUSD, BNB) for staking. Some users may not have those assets, but another (e.g., WETH). They do not want to trade WETH for BUSD or BNB. So they could deposit WETH to borrow BUSD and BNB in order to stake into the DABot. Typically, the value of borrowed assets is less than the value of collateral. This is to ensure the ability of repayment. For example, a user depositing a $100-worth collateral could only borrow up to $70-worth assets. The tight integration among components of the system enables borrowers to borrow more than the value of their collateral, i.e., leveraged lending. Thanks to leverage lending, users could enjoy more benefits (and of course, with higher risk), while lenders’ funds are still being protected.
- RoboFi Earn is designed for any user who prefers to receive stable earnings no matter the volatility of the market. As the market is sometimes high volatile, DABots trading on CEX or DEX may face risks and have to cut loss in order to protect the whole crypto assets under management. Bots earnings or losses will be reflected in staking rewards with positive or negative values. It also means, users who staked into DABots may suffer from some loss. Hence, we offer the RoboFi Earn and this acts like bank saving interest. Users could deposit their crypto assets and receive stable earnings without any risk