What Is FireBotToken (FBX)?
FireBotToken software is analysing the most liquid cryptocurrencies and assigns to each of them a weight in real time, based on statistical analysis and machine learning, reflecting their probability to outperform the market on a given upcoming time period. The algorithm is used on your Binance account as a Software as a Service. Based on the computed weights, FireBot will automatically balance your portfolio by entering and exiting positions.
Once the solution is installed, it will trade 24/7 without emotion-driven human intervention. It will only take rational decisions purely based on logic, quantitative strategies, and statistical analysis of the markets. FireBot is a set of algorithms using machine learning and statistical analysis of the market in order to attempt to select the best performing cryptocurrencies during ascending market phases and protect the portfolio during descending phases.
FireBotToken Storage Key Points
|Circulating Supply||1,492,081.96 FBX|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
Building a DAO
With this in mind, they are creating a DAO (Decentralized Autonomous Organization) whose funds will be allocated to FireBotToken. Important decisions concerning the future of the FireBot ecosystem will be decided with the community through votes amongst the governance token holders. The main objective of FireBot DAO is to serve the interest of its token holders. FireBot will work normally for the DAO with a normal but fixed 6% performance fee.
FireBot DAO token (FBX)
The token will be minted on Polygon as ERC20 token, capitalizing on Polygon’s fast ecosystem, decentralized exchanges (DEX) and automated market makers (AMM). Future wrapped versions of the token can be created in the future on other block chains in the interest of increasing diversity of holders, resilience and valuation of the DAO’s treasury.
The purchases will be divided in small orders over a large period of time, in order to avoid market impact and give stable liquidity for people wanting to sell their tokens. FireBotToken The amount is kept low to avoid having an impact on the market and the value of the utility token. The objective of the burner bot is not and will never be to drive the price up, but rather to ensure that due to the small existing community of FireBot, that the token kept being traded with sufficient liquidity to not be left out in the cold.
The token will have a market value, from people trading the token on exchanges, based on supply and demand. A burner bot will be created, in order to give better liquidity to the token holders. It will be buying and burning tokens for 0.5% of the DAO’s treasury every month (this amount will be subject to votes in the future, it starts low to limit strong use of the treasury).
When phase 2 will start, 90% of the upcoming NFT sales revenues of the collection will be converted to FBX utility tokens and distributed as daily rewards to NFT holders based on rarity (the aim being increasing the number of unique holders of the FBX utility token). 1% of NFTs in circulation will be reserved for the team and 9% for airdrops, the rest will be sold at increasing prices. With this mechanism, FireBotToken will ensure that not all the NFTs will be released on day one to avoid dumping, they will enter in circulation progressively when and if the floor price rises.
FireBotToken A NFT collection is being created to increase exposure and interest from potential users and future token holders. During the first phase, it will be minted and put to sale, as well as airdropped to some extent in order to bring more people to the social media accounts of FireBot.