[DEX MASTERY SERIES] - Part 3: How a BOT works
đ€ To make a regular swap on a #DEX, you need to follow these steps:
- Ensure you have a non-custodial wallet with sufficient funds, depending on the network and pair.
- Get the token address (if the ticker cannot be found)
- Head over to the DEX platform, select the swap section, and choose the pair you want to swap.
- Adjust the slippage if needed
- Select the amount you want to swap.
- Approve -> Swap -> LoadingâŠ.
đš If you encounter an error, you have to review the steps or try initiating a new transaction.l đ”
⥠However, by using a bot, all these steps can be PRE-SET!!! Simply PASTE THE CONTRACT to instantly buy or sell, and orders can be executed within 100-200ms.
đđ» The BOT optimizes MOST UX/UI OPERATIONS for you, no need to click and confirm each step anymore!
đ Orders executed by the BOT are FASTER than direct transactions on the DEX because the BOT fetches on-chain data from the full node and only uses the DEX's smart contract to send transactions.
đŻ Additionally, the BOT can send MULTIPLE TRANSACTION AT ONCE, which is NOT POSSIBLE with a DEX.
When trading on a DEX, speed is crucial in determining whether you FOMO or not.
đđ» The earlier you learn to use a BOT, the better you can EARN!
Part 4 will mention some things worth noting when using a BOT!