FAQ
- 1.What is FireBot, and what does it do?
FireBot is an AI-powered risk management platform that offers software solutions to reduce the volatility and risk of cryptocurrency investments while providing everyone access to the crypto market.
- 2.What are the benefits of using FireBot?
FireBot uses AI-driven quantitative measurements and statistical market analysis to dynamically adjust portfolio allocation, capitalizing on uptrends in popular assets while reverting to USD in uncertain times, offering lower volatility and exposure to the crypto market while reaping benefits from diversification, frequent rebalancing, and USD components.
- 3.What is FBX?
FBX is the utility and governance ERC20 token of FireBot's DAO on the Polygon blockchain. Its maximum supply is 21,000,000.
- 4.What are Elemental Particles (EPs)?
Elemental Particles are FireBot's Proof-Of-Burn tokens, and the only way to unlock FBX is to acquire and stake them. Anyone can create new EP tokens by burning FBX at 300 FBX per EP.
- 5.How does the FBX token work?
The FBX token operates in a dual-token ecosystem with EPs, with a decreasing inflation rate ensured by the emission contract distributing fewer tokens every day. Users compete to acquire and stake more EPs by burning FBX, reducing the existing supply as users try to maximize their earnings.
- 6.Where can I buy FBX?
FBX is available on several Polygon DEXes, including SushiSwap, UniSwap, QuickSwap, and Balancer. You can use a DEX aggregator such as ParaSwap to find the best available rate.
- 7.What are the FireBot Vaults?
FireBot Vaults are smart contracts deployed on the Polygon blockchain that structure investment strategies, ranging from high yield to principal protection. There are currently four Vaults: EP, FBX, Liquidity Farming, and Fire4.
- 8.What is the Fire4 Vault?
The Fire4 Vault is a Balancer weighted pool that rebalances itself from arbitrage mechanisms. It provides exposure to USD, BTC, ETH, and FBX and offers auto-compounding yield on top of potential returns from the strategy.
- 9.What is the upcoming FireBot Airdrop?
The FireBot Airdrop incentivizes new and existing Web3 users to interact with the smart-contracts and reward them for using the protocol. Users can complete quests such as depositing FBX, minting and staking EPs, farming liquidity tokens from SushiSwap, and joining the Fire4 Vault to earn experience points.
- 10.How do I claim rewards from the FireBot Vaults?
Users can claim rewards from the FireBot Vaults directly in the Vaults at any time. Some Vaults like the FBX Vault or the Fire4 Vault are auto-compounding and don't require claiming rewards.
Last modified 30d ago