Get started with FAIT on PancakeSwap – Tutorial
What is FAIT?
FAIT stands for Flourishing Artificial Intelligence Tech. A blockchain data based, learning technology built by Flourishing Capital. As per their website their tech monitors more then 6800 markets and collects and analysis almost 3TB of data per week. Based on these data trade decisions are taken aligned on a set strategy (more on that later). So FAIT is using AI, not (only) rules, as a usual trading bot would do.
There is a web dashboard to monitor FAITs activities and a Telegram interface. The community, and probably also Flourishing, always refer to FAIT as “she”. Not sure where that is coming from though…. guess everyone got its own reason. Lets not go further here.
What is PancakeSwap?
PancakeSwap – or PCS in short – is probably the biggest Decentralized Exchange (DEX) on the Binance Smart (Block-) Chain. DEX means in other words you can do your business like placing trades, staking or yield farming on PCS without relying on a company or central exchange, all activities can be done directly by you with your wallet. No man in the middle. PCS is famous for fast and cheap transaction. Many tokens are supported. Less popular ones can be added manually (you need to know what you are doing obviously) and can also be traded easily once added.
Why should I use FAIT?
FAIT is not emotional. FAIT knows (almost) all the data. At least the ones she is monitoring. She follows the strategy you set without looking left or right. Talking about strategy: Per exchange you can set your anchor currency. WBNB for PCS is the default. What does that mean? Well, FAIT is conducting all trades with the goal to accumulate more and more WBNB. On Bittrex you can set the anchor currency to BTC, ETH or USDT. Whatever you prefer and like to accumulate.
How well does it perform?
I tested it now for not even a month on PCS and also on Bittrex. I honestly don’t have a big amount of money on PCS, but it still works fine.
FAIT completed 21 trades since I started using it (her) on both PCS and Bittrex around 20 days ago. Calculating my average profit per trade I got currently 4.6% profit per trade across both exchanges. Out of the 21 trades, 20 were profitable, and only 1 trade ended with a loss of 9.6%. Luckily, this was a very small trade and I lost only 0.84 USD. Guess it sounded worse then it actually was at the beginning.
How much does FAIT cost?
Flourishing offers two price plans currently: One for CEX or DeFi, currently only PCS, and a price plan for CEX’s, currently Bittrex and Binance supported.
- For CEX: You need to held 0.75% of your AUM (Assets under Management) in AI token.
- For DEX: Besides the 0.75% you pay a monthly subscription fee of 40USD.
Exam-question: Is it worth it?
Guess you are the only person who can answer that. For me, yes, it is. I profited so far way more then I paid. I also joined the IDO on BSCPad last year (yes, I regret not having used the service since back then….), hence I had some AI tokens lying around in my wallet and wanted to do something useful with it, hence I gave it a try. I am impressed by the service and technology the team offers and delivers so far. Also the support provided by the team is great.
I am sold. What do I need to do?
Let me show you step by step how you can get started with FAIT on PancakeSwap. I assume you have MetaMask already hooked up to the Binance Smart Chain.
- Sign-up for an account with Flourishing
- Buy (or you might have already) some BNB tokens
- Log in into the dashboard
- In the top right, there is a blue button with all the exchanges. Click on PancakeSwap and on “connect”.
- Under “Settings” (navigation bar), there is a section called “PancakeSwap”. There you see your custodial wallet address. This is the address “your” FAIT is trading with. Send the desired number of BNBs (and only BNBs) to that address.
- Click on “Portfolio” in the navigation bar and wait until FAIT picks up your BNB’s. It should show up as “Assets Under Management”.
- Wait for FAIT to make her first trade for you.
These are the very basic steps to you get you started with FAIT. Play around with the settings currently offered to familiarize you with the dashboard.
Where can I ask questions?
Flourishing got a pretty active and helpful community on Telegram. Just go there. Feel also free to add a comment here on that page if you like.
Referral link for signing-up via Telegram: https://t.me/flourishingcryptobot?start=1611699253
Don’t have BNB’s? Easiest way to buy BNB directly is via upLink. Tutorial here.