🤖Keeper Bots

On perpetual futures exchanges, the presence of keeper bots is essential. These bots play a crucial role in the functioning and maintenance of the exchange, ensuring smooth operations and facilitating key processes.

At the core of Storm Trade lies the concept of smart contracts. However, smart contracts cannot function independently. For example, a smart contract cannot trigger actions such as price changes without an external trigger. It can only validate, for example, the legality of executing an order based on market conditions. This creates the need for keeper bots.

Keeper bots are responsible for:

• Initiating periodic funding payments.

• Order execution.

• Position liquidation.

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🔄 Triggered Funding Payments

One of the key functions of keeper bots is the regular initiation of funding payments. These payments are necessary to maintain the link between the perpetual contract price and the price of the underlying asset.

💡 How it works:

• Keeper bots initiate the payments.

• Smart contracts calculate the payment amounts to incentivize traders to keep the contract price in line with the market.

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📊 Order Execution

Keeper bots constantly monitor the order book and assess which orders can be executed based on market conditions.

🛠️ What Keeper Bots Do:

• Execute buy and sell orders.

• Ensure efficient entry and exit from positions for traders.

• Improve liquidity and speed on the platform.

💰 Reward:

• For each executed order, keeper bots receive 0.02% of the position's nominal value.

• This fee is divided between:

  • 60% goes to the keeper.

  • 40% goes to the common pool, which is distributed among all active keepers.

🎯 Feature: The reward from the pool is not divided equally. It is distributed proportionally to each keeper's activity. This encourages keepers to balance their strategies and work with both small and large orders.

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🚨 Liquidation of "Underwater" Positions

When traders' positions fall below the minimum threshold, keeper bots initiate liquidation. This is an essential risk management tool that prevents traders from accumulating unacceptable losses.

⚠️ How it works:

• Keeper bots quickly liquidate losing positions, helping to maintain stability on the exchange.

💸 Reward:

• Keeper bots receive 50% of the liquidation penalty.

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💰 Incentives for Keeper Bots

Running a keeper bot is not just a service, but also a profitable venture. Keeper bots earn:

• 0.02% of each executed order.

• 50% of the liquidation penalty.

🛠️ What you need to run a Keeper Bot:

• To become an operator of a keeper bot, you need to own a Genesis NFT. This NFT grants access to the platform and provides various privileges to participants.

💡 Advantage:

• The Genesis NFT confirms the operator's commitment to the exchange's growth and opens the door to the exciting and profitable world of trading on Storm Trade.

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🏄 The work of keeper bots contributes to the stability and liquidity of the platform, creating a favorable environment for traders and increasing trust in the exchange.