Frequently Asked Questions
We have a lot of frequently asked questions surrounding our product and protocol. If you do not see your question below, please feel free to reach out in the Telegram as we are happy to answer any query you may have.
How do I stake $0XL, and what are the benefits?
Staking $0XL tokens is simple; you can do it through our platform by holding a minimum of 2.5 million $0XL tokens, which is equivalent to 0.25% of the total supply. The benefits of staking include receiving a share of 50% of all trading fees, governance participation, lower trading fees, and lower gas fees, among others.
What security measures are in place to protect all funds?
We prioritize security by employing advanced measures, such as auto-generated wallets with private keys stored on dedicated encrypted servers. Most importantly, our team has no access to user funds, and our bot server maintains an uptime of over 99%.
Can you explain the risk management features and the liquidation process?
Our liquidation process triggers at -70% of user funds concerning a price decrease. This threshold was chosen to strike a balance between user fairness and risk mitigation. Users are encouraged to set stop-loss levels to mitigate total liquidation and understand the volatility of the DeFi landscape before opening any position.
How do NFTs work as an access passes to the leverage trading bot?
The 0XLBOTS NFT collection serves as an access pass to our leverage trading bot. It offers early access to new features, increased leverage funding, and participation in leverage tournaments. Owning an NFT grants you these benefits and distinguishes you as a valued member of our trading community.
What sets your leverage trading bot apart from others in the market?
Our leverage trading bot stands out due to its unique combination of features, including the ability to open 1x to 5x long positions on a wide range of tokens. We offer real-time position tracking, auto-generated wallets for security, and a meticulous approach to risk management, trading bots, and as of now we are the only leverage trading bot in the blockchain space.
Where can I access the bot?
When the bot is released to the public, it will be accessible through Telegram for any user to interact with, but since we are only in BETA testing as of now, you must purchase an NFT and then verify your wallet through our portal, which will then give you access to the BETA group as well as the BETA bot.
Where can I buy an NFT?
You can stay tuned to the chat for the next mint announcement, or you can buy on the secondary market on Opensea.
How much can I trade with the bot?
Right now, for all BETA users you can trade any position size up to $500 USD including borrowed funds, so for example a user can trade a $100 USD initial amount at 5x leverage, totalling $500 USD. As users interact with the bot, more freedom will be granted on a user by user basis.
How does the protocol make profit when everyone is winning?
The protocol makes revenue by taking a percentage of each position, as well as a fee on liquidations, so whether a position profits greatly, or reaches its liquidation price, the protocol has receives funds to inject back into the leverage pool.
Can I short tokens?
No, offering short positions on microcap tokens exposes the leverage pool to a number of unavoidable risks, as well as subjecting the protocol to taking on the role of a market maker, where short positions need to be filled at the expense of the leverage pool. Longing allows both the user and the protocol to be profitable on the same position, allowing for scalability into the future.
When will the next round of NFTs be released?
We always stealth release our NFTs, this is to provide maximum fairness across all of our community members and new members alike, in an attempt to create a fair and even playing field for all individuals looking to purchase an NFT.
When is the estimated time for public release?
Public release will only take place when our 1000 NFTs have been sold out and the BETA group is working flawlessly, we need to make sure that the leverage pool of 0xleverage is safe at all times, and remains solvent in order to fund the leverage trading capabilities of our bot.
Last modified 3mo ago