Sirlibz
YFDAI has announced its Partnership with Stacked, an automated cryptocurrency investments platform that allows users lease out trading bots and connect users long-term holdings to pre-built portfolios for release safe trade.
SafeTrade is one of the latest developments added to the YFDAI ecosystem. It is a premier trading bot service that will allow users earn passive income through the different trading strategies provided by the trading bot service. The project plans on launching two trading algorithms initially on the Stacked Invest platform, this would include SafeTrade ETH and SafeTrade BTC.
The collaboration allows YFDAI’s latest product to showcase its full potential in a simple and straightforward manner. Trades on the bot are carried out by connecting a users exchange account through the API, funds remain on the exchange and not controlled by either Stacked Invest or YFDAI.
“Users will have full access to their funds and are free to cease trading and withdraw funds at any time. All trades will be visible, live.”
Access to the bot on Stacked investments on a monthly basis will cost $350 for using both YFDAI ETH and YFDAI BTC algorithms. To get discounts, users are to deposit YFDAI in a vault for a minimum of 60 days before trading starts. After the 60 days is over, users are rewarded with a Non-fungible token (NFT) which is used to gain discounts as long as the YF-DAI remains staked. The vault is set to be open on the 18th of November 2020 with trading commencing 60 days after.
The announcement made it clear that irrespective of the fact that the bot has seen great success in a number of trades and extended backtesting, it still maintained that trading has risks and those risks still apply here including investments risk.
“Returns and profits are always variable and are not guaranteed, final profit and loss figures will be released soon however both bots are expected to provide average monthly returns in excess of 10% a month (Growth of BTC/ETH/Stable Coin) with very low Drawdown and low risk per trade.”
