Some days ago octopuses were invited to the tehmoonwalkers AMA. We decided to collect all questions from this AMA+ answer all FAQ in the one doc. Enjoy! 🐙 *Imagine that it’s the Joe Rogan’s podcast*
Q: So! I’m average dumb human, please explain in simple term how does this bot frontrun work?
A: For example you wanna buy some token on Uniswap.
You go to app and try to buy token. But price is unstable and to confirm your tx you will need to place 3–5% slip.
Bot count that you wanna buy with huge slip, and you put high gwei. So, we place a little more gwei that your tx, and we buy 4% of you slip, for u price will be higher. And we send second tx with the same gwei and sell after u in the same block.
And take our profit from your deal!
Q: Show a working bot… we must have proof that the product is working, ok?
A: Yes, we have a working bot. You can check the testnet right here, octopus!
Q: Do you perhaps have a demo video of your bot in action too?
A: Check this video, please.
Q: Anon team?
A: We are not disclosing our identities for security purposes. Many DeFi projects do this, and we support such an approach. After all, not everyone loves frontrun bot developers. And we still want to live, at least a while 🙂 BLÄCKFISK would not be going anywhere without us. And we share profit. SEC never sleep and this is a security token. Yes, we have the opportunity to say that $BLFI is a DAO token, but this is not true, as you understand 🙂
Q: How much profit will I receive from the bot?
A: It all depends on the number of staked tokens. The more tokens you have staked, the greater the profit. For example, there are only 100 tokens. For a stake of 90 tokens, you will receive 90% of the profit.
Q: If these bots are so profitable, why do you need us?..
A: It is quite simple, really. With more liquidity, you can make bigger profits. Also, we spent a lot of money on development, marketing and tests, so we need a community for support and project popularization.
Q: Do you consider the project a community project and what role does the community play in your project?
A: Community plays an important role due to the fact, that apart of filling the bots baskets, once DAO governance is implemented. And it’s were the community will be playing an important role.
Q: u r writing that bots r open-source, but you r not on github, lol. why?
A: The dashboard of our project is open-source. But the bots are not. After all, the code of the bots can be stolen. That would hurt us and our users.
Q: I have one 1 questions… Why should I trust you?
A: Trust is a big issue, but we have proven our credibility independently. We have been audited by Hacken, after all, and verified as trustworthy. Also, we´ve decided to make the presale on Unicrypt, so people could be sure that the liquidity will be locked in accordance to the tokenomics.
Q: What minimum amount should i put to get profits??.
A: There’s no minimum to put in. But notice, that bigger amount brings bigger profits.
Q: how can i earn with the bot? plz proivde more info i can’t get
A: There are two ways: HODL BLFI tokens and providing liquidity to the ETH — BLÄCKFISK pool.
Q: Do you have any idea how to deal with high gas prices?! IT’S HIGH!
A: Our bot counting profit minus fee from previous block. If profit still positive, bot make a frontrun deals. But my team is actively working with the Chi Gastoken starting from November, and we bought them a lot by $1.04. Now it's cost around $4. Its implementation help avoid high gas prices and earn higher profits.
Q: Do you have any plan to bring $BLFI to BSC ?
A: By the moment we want to receive the maximum of ETH. Just look at the volumes only on Uniswap. +$7b in 7 days. It’s crazy! So we are feeling ourselves like in the blue ocean, if you know what I mean :)
Q: Will there be farming on the dashboard platform?
A: Yes, the staking option will be available in the dashboard. You’ll just need to connect your Metamask to see all details and statistics.
Q: Would blackfisk consider diversifying bot profits into other generating sources of income like staking in other DeFi, lending and so on?
A: By the moment we want to focus on the core idea of the project — bots. But in future we can evaluate different possibilities to increase and diversificate the income. And community will participate in such decisions.
Q: Now have many super hackers so security, scalability, and data, privacy are three aspects that are very important at each level, how do you intend to handle such high level security issues?
A: We do not collect some data from our users. We use only data from smart-contracts.
So your privacy will be in safe. Don't worry about.
As you’ve probably seen our model is deflationary, because 30% of the bots profits will go to buyback and burn $BLFI tokens. And once the platform and ecosystem develops, we can see different types of products added to it.
Q: How will you deal with competition?
A: Only Uniswap has +$7b volume in 7 days. There is market for everybody. And don’t forget that excellent frontrun bots can frontrun others :) And it’s totally our case.
Q: When will all the bots be launched?
A: We are now launching the frontrun bot. There are still the flashloan and arbitrage bots left. They will be launched in Q1-Q2 of 2021.
Q: where $blfi is listed? any plans for future listings?
A: Now $BLFI is listed at Uniswap and CoinGecko. We’re going to appear on BlockFolio, CoinMarketCap and other platforms, as well as CEX soon.
By the moment please check $BLFI here.
Q: how can i get $BLFI tokens without buying them?
A: We always have great contests, join our chat to follow them!
Q: For a DEXes, Liquidity issue is the major problem compared to centralized ones. How does BLÄCKFISK PLATFORM with its technology and innovation can solve liquidity issues and create the liquidity for DEXes which is different from CEXes?
For 1 or 2 reason, being listed in Giant CEXes such as Binance, Huobi or Bithumb is become a dream for almost crypto project. Do you plan to list $BLFI on these CEXes in near future OR the team keep focusing on build an excellent product and attract more users at this moment?
Inflation level
* Ecosystem grants
* Staking assets
* Lending product
Does BLÄCKFISK have any of those features above on the project
A: Actually we want to focus now on developing our core idea of bots, and later move to other milestones. We looking forward to be listed on the top divison CEX but it’s too early to talk about it now.
As you’ve probably seen our model is deflationary, because 30% of the bots profits will go to buyback and burn BLFI tokens. And once the platform and ecosystem develops, we can see different types of products added to it.
Didn’t find your questions? Ask. Octopuses will answer!
