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How BOT is Creating a DeFi Heaven

·3 min read

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

By now, most people who are active within the crypto space have heard of decentralized finance (DeFi). Offering all the benefits of traditional finance with fewer middlemen, more privacy, and cheaper costs has made DeFi the darling of the crypto world, with billions of dollars locked on several platforms.

DeFi is famous for its many features including token swaps, lotteries, games, and so on. Anyone new to DeFi might think that they would have to visit individual platforms to access all these features i.e one platform for trading and another for games. Fortunately, this is not exclusively the case as a number of DeFi platforms have sprung up offering multiple DeFi features in a one-stop shop.

Introducing BOT

One of the first things to note about BOT is that it is an aesthetically pleasing place to visit. This DeFi ecosystem, which is built on the Binance Smart Chain (BSC), features cool neon colors and robotic mascots that act as guides of sorts, helping users find the features they are looking for.

While a lot of DeFi spaces might seem cold and attractive, BOT gives emphasis to a pleasant user experience and look. Besides its looks, BOT is also designed to be welcoming to newer and less experienced DeFi users and introduce them to the many features that it offers.

On Bot, these include Non-Fungible Tokens (NFTs), its native $BOT token, BOT wallet, BOT Messenger, BOT Lottery, and BOT Games.

For the BOT DEX, users do not have to log in with their IP addresses as the platform is built for anonymity and instead, they can trade tokens with full privacy. On the DEX, there are a number of income-generating options including staking, yield farming, and liquidity pools.

Eventually, the BOT token will be added as a form of decentralized payment to further enhance privacy on the platform.

With NFTs being all the rage these days, BOT will be offering an NFT marketplace through which users can mint, buy, and sell their creations as NTFs, with a 1% transaction fee being charged in order to support the marketplace, as well as limited edition NFTs for sale. BOT will also offer users a wallet in which they may store their BOT tokens and view their existing tokens and collectibles. In a few easy steps, these tokens and collectibles can be sold, traded, transferred, and so on.

In line with BOT’s commitment to privacy, the wallet will be built to ensure the anonymity of its users. This will also apply to the BOT messenger which will feature end-to-end encryption.

For the BOT lottery, tickets with four digits will be generated which users can buy every day, with the winning ticket matching the four of the winning draw. The prizes will be funded using profits from ticket sales and partial prizes being available to those whose tickets match the winning digits partially.

Prizes can also be won from participating in BOT’s various games, which are play-to-earn and completely decentralized.

BOT is due to have its IDO and will be listed on both centralized and Decentralized platforms in the new future, with more announcements coming soon.

All-in-One DeFi

The end goal of DeFi is to unite blockchain and crypto users and a key way to do this is to prevent fragmentation of the sector. Rather than users having to visit multiple platforms for the different features of DeFi, BOT is ensuring that users can get all they need in one place.

The emphasis on newer users is also timely given how many new entrants the market has seen in the last year. As the platform takes shape and opens to the public, the seamless merging of the world of DeFi will likely become the industry norm in addition to the preservation of privacy along the way.

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.