In this UpBots Academy article we talk about introduction to Crypto Vaults and explain how vaults work with SuperBots.finance example. Enjoy!
What are Crypto Vaults?
There are many ways to keep digital assets in designated places. A Crypto Vault is one of these options. Users prefer digital safes when they cannot or do not use their crypto assets very often or when they use DeFi products such as staking or lending. It is a method of keeping fiat money that you do not use in the long run, just like your bank savings account.
SuperBots.finance is a new project in the DeFi ecosystem that is powered by UpBots which can change the way investors use DeFi. SuperBots is going to offer a multitude of Vaults trading on DEX, and following precise trading strategies to manage investors’ funds in the best way possible.
Superbots.finance is created by UpBots founders who have years of experience in designing and building tools for automating trading through algorithmic trade.
On the superbots.finance decentralized trading bots platform, users can deposit directly from their own wallet like Metamask and Trust wallet. Unlike on centralised exchanges such as Binance and Coinbase, every trading effort takes place on blockchain and secure. Users can withdraw their capital whenever they would like to do so and have 100% ownership of their crypto.
Let’s take a look at what vault is on decentralized exchanges to understand better how Superbots.finance works.
How do Superbots vaults work?
Vaults are a key feature of what makes SuperBots unique in the world of DeFi. It lets the user lock their capital in a pool while it is being traded by the exclusive trading bots designed by experienced professional algorithmic traders. Now crypto assets that once lay idle can now begin to generate a compounding income for the asset owner.
There are no deposit and withdrawal fees. The only fees are based on the performance made by the algo, the profits, and obviously, the trading fees.
By depositing capital in a vault, users get a share of the pool with other investors. In exchange, they receive xUBXT, which demonstrates their shares in the pool.