Automated trading on cryptocurrency exchanges becomes increasingly popular in periods of high volatility as it allows crypto holders to benefit from price swings in either direction. However, the adoption of decentralized applications (dApps) in this segment is still in its infancy.
MyFunding.Network’s trading bot go live on BNB Chain
MyFunding.Network addresses centralization and performance issues in AI-powered trading bots. Technically, it is an AI-driven bot-trading decentralized application on the BNB Chain (previously Binance Smart Chain, or BSC).
MyFunding.Network generates yield on dormant BNB holdings of its clients due to an automated AI-powered trading system. It opens and closes orders on BNB Chain in a fully decentralized manner through purpose-written smart contracts. The full smart contracts infrastructure of MyFunding.Network is open source and can be independently audited by every enthusiast.
MyFunding.Network is designed and maintained by Oreca.Community, a heavy-hitting team of seasoned blockchain, cryptocurrency and trading experts.
Traders can connect to MyFunding.Network without leaving their noncustodial wallet for EVM-compatible blockchains (including the likes of MetaMask, TrustWallet and so on). As per the team statement, there is no minimum amount of funds deposited, while up to 1.5% rewards can be distributed daily; a single account can authorize various deposits and withdrawals.
Intuitive registration for crypto newbies
It only takes five steps to get registered on MyFunding.Network and start earning. First, traders should download and activate a noncustodial crypto wallet compatible with BNB Chain (BSC); MetaMask and TrustWallet are the two most popular ones. Then, connection to the BNB Chain should be enabled.
Once a wallet is added, it should be refilled with BNB tokens. These tokens can be bought on Binance with Bitcoin, Ethereum, stablecoins or even with credit cards and wire transfers.
Then, traders should connect their wallets with BNB coins to MyFunding.Network by clicking “Connect” when asked about the approval of the protocol. For some wallets, this step can even be performed through a mobile device.
By clicking “Deposit,” traders can transfer their tokens to MyFunding.Network mechanisms: it works not unlike sending money to a bank deposit. All BNB tokens are transferred to a single BNB liquidity pool where an AI-powered bot starts managing them.
Dividends can be harvested at any time in one click to get bonuses, and traders should click the “Withdraw” button.
Multi-level registration program allows crypto holders to monetize social media influence
The protocol has no extra fees: only income is charged with 3% of deposits. Traders can ask any question about the way MyFunding.Network works and distributes rewards through a Telegram support account.
To let MyFunding.Network’s clients spread the word about the opportunities it unlocks, a multi-level referral program was launched by its team. In general, traders receive 5% of the deposited amount as it fills their account through a referral link.
In addition, a referee receives the share of money deposited by referrals:
● Level 1: 5% referral rewards
● Level 2: 3% referral rewards
● Level 3: 2% referral rewards
● Level 4: 1% referral rewards
● Level 5: 0.5% referral rewards
As such, traders with a big audience on social networks can monetize their exposure in a profitable way with little effort.
That being said, MyFunding.Network is a fully decentralized newbie-friendly protocol for passive income based on AI-powered bot on BNB Chain. Its registration process does not take extra blockchain and trading skills, while the referral program guarantees an additional revenue stream for its participants.