Biweekly report
Decentralization finance (Decentralized Finance,DeFi) is a rapidly developing and increasingly important block chain component. DeFi provides users with financial autonomy and only charges them a very low service charge, which effectively reduces users’ expenses.
Progress in technology development this week:
1）Test the transaction flow
2）Liquidation
Margin positions will be liquidated if the collateral rate too low. When a liquidation occurs, the borrowers’ assets are sold off in a form of a dutch auction to repay the loan. This bot help you bid the auction when profitable.
The bot uses an arbitrage strategy: Sell collateral on our platform immediately after receive it from an auction. For example:
An auction sell 1ETH at price 400USDT
The bot buy 1ETH
The bot sell 1ETH on ddex at price 380USDT
Earn 400–380=20USDT
English:
Telegram-en/ONEROOT network/R1 protocol/Reddit/Twitter/Medium/Linkedin/Facebook/Github
Instagram: @onerootnetwork
Youtube: @OneRoot Project
Chinese:
Telegram-cn/Weibo
Official QQ group: 6644849O
Official WeChat account: oneroot_admin
