Would you like to know how to earn a passive income of over $1000 per day on Uniswap? This video is for you. Automated trading on decentralized exchanges such as Uniswap is one of the easiest ways to make profits in today's crypto space. If you use decentralized exchanges (DEX), then you need to know about front-running bots. In this video, we showcase a front-running bot performing buy/sell actions without having to go through typical manual transactional methods, generating easy passive income. Watch this video till the end because we are going to show you step-by-step how to set up your front-running bots and start making crazy incomes in crypto today.
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Now, let's get started.
First of all, you should not consider this video as investment advice. You should always do your own research and only invest the amount you can afford to lose. This method is very risky, but the reward is very big.
At the time of this recording, we haven't tried it yet. But we will test it in the next few days. So be careful, it could be a scam as well. Besides, here on YouTube, opinions differ, some people claim to have been scammed, while for others it works well. Anyhow, we advise you to do your own research, and only invest the amount you can afford to lose.
Now let us explain how the bot works.
When you send a swap transaction to a DEX like Uniswap or Pancakeswap, you must also specify a slippage tolerance (in %). It is like saying “I want to buy 1 apple for 100$, but I am ok if, when the transaction is processed, the price is up to 102$ and I want the transaction to go through anyway.” The bot exploits this slippage tolerance for profit.
Here is a very (very) simplified example:
The bot will first buy the apple at 100$ for an amount that will raise the price to 101$. The bot now has 1 apple paid 100$.
The victim buys 1 apple. The victim wanted to pay 100$, but is still ok with a price of 101$, so the transaction goes through. This purchase raises the price to 102$ after the transaction is processed.
The bot sells its apple at the current price of 102$ for a 2$ profit. The price goes back down to 101$ after the transaction.
Basically, sandwich bots are extracting the slippage tolerance of traders. This is how it works.
Now, how to configure the bot?
To start, make sure you have MetaMask installed and that you are connected to the Ethereum backbone.
Then we go to remixethereumcompiler.github.io, Remix Ethereum which is a web3 application allowing us to develop, deploy, compile and launch smart contracts that are coded in the Solidity language. You can find the link in the description below.
Once you open the page, go to the sidebar on the left and create a new contract. Under the Contracts folder. Then name it whatever you want.
Then, if you look at the description, we have included a link to the code that will help you set up your bot. You just need to copy and paste it.
You will then see the contract of our frontrunner bot created.
Now, if you pay attention to this code, you will see on line 50 and 51, some addresses. If you follow these addresses on Etherscan, you will see that these are the addresses of the wrapped Ether tokens that will be competing with them. You can specify the coin target by filling in lines 50 and 51 or leave them unchanged for the new cash pair scan.
We suggest that you always check it.
Once this is done, let's go back to Remix. Now that you have your bot file ready, you need to compile it by clicking on the second tab of the page, then on compile your bot that you named.
But before that, you have to make sure that it is built with version 0.6.6 of Solidity.
If it is not, you must select version 0.6.6 to match your contract. Make sure the language is set to Solidity and the EVM version to default compiler. Now come and click on the Compile button and wait for the file to be compiled.
Once this is done, you now need to deploy this program to your portfolio. Go to DEPLOY & RUN TRANSACTIONS in Remix. Here you need to select web3 injected as the environment.
Once you click on that, MetaMask will be connected to Remix.
And now we have the deployment utility. Now you have to click on the deployment button. After a successful deployment, you need to confirm the creation of your contract by paying some gas fees. This will take you a little gas fee. This is the Ethereum network fee for contract deployment.
Make sure you always set the gas fee high. There's not much difference. So just do it then press Confirm and wait for the transaction to be confirmed.
Once your contract is deployed, look at the contract address on the left at the bottom of the page, you will see four actions for a contract.
The Start button is to start the bot.
The Withdrawal button is for stopping the bot and transferring the funds to your wallet.
The name and symbols of the tokens speak for themselves. So, copy the address of the contract and check that it has been created. To do this, simply go to Etherscan and paste it in. You will see that it has been successfully created, and in fact, you will see how long ago it was created.
So, the next step is to fund the contract with some coins to be able to snipe the liquidity pools.
Now, copy this address and go back to your MetaMask. Make sure you have the right address in there. You can fund the track with as much Ether as you want. But the more money you put in, the bigger the transaction, the more Front Run you'll be able to do, and the more profit you'll be able to make.
So, for example, if you're only able to do a Front Run with, let's say, $100, you're not going to be able to create as much slippage in the price as if you put in $10,000.
Do it with the amount you can afford to lose. As we said, this is a very effective but very risky method.
Once you have done this, confirm your transaction. And so, it will be sent to the contract. You can check it by following the address of your contract on Etherscan.io.
There you will see the exact amount which is basically the amount you funded it with.
The next step is to click on Start. The bot will start sniffing the mempool for different cash pairs so that you can make front-run transactions.
On average, this bot will make you over 30% daily, which is not bad. It's absolutely crazy.
So, the bot will keep running until you press the withdraw button. The bot will leave the liquidity pool and you will send the Ether that you originally entered plus the profit to your wallet. This will charge you a bit of a gasoline fee. But either way, it's very profitable.
Make sure you always withdraw your profits every time. Maybe daily, or every 4 hours. It's up to you.
We hope we were able to provide some value and helped you to move a step ahead in your crypto journey Be sure to check out our Crypto Brand called Cryptopreneur, get yourself the highest quality Crypto Merch available right now on the market, and make sure to subscribe so that you don't miss out on any of our content. Till next time, Goodbye.