New Crypto Airdrop On Polygon MATIC! Earn Yield With Polygon DeFi Project!

What is up? I am Crypto Mason and welcome back to the Crypto Mason YouTube channel. Shout out to the Gold Squad. We look for gold in every single aspect of our lives and we always find it. Now today we are back for another bonus video. We do have another project review video for you guys today. This is going to be very interesting. This is the first NFT ecosystem backed by a trading bot through utility tokens. So there is potential to use trading algorithms with this project that we're going to get into. Also, there's potential to stake your money and earn in their vaults. So we're going to talk a little bit about it, but make sure you drop a like on the video if we hit 600 likes on this video, I will do a 100 XRP giveaway inside the Gold Squad Discord. So let's get into the project here. This is a sponsored video. Thank you to FireBot, uh, for sponsoring this. This is the project, and this is the first NFT ecosystem backed by a trading bot through utility tokens. So their main website is here, right? It is a DeFi project. So, you know, and they're built on Polygon. So just to get that out of the way, if you like Polygon, this is a great project building on Polygon. Uh, however, they do have their NFTs built on Ethereum, I believe. So we're going to check this out. The first thing we're going to talk about is what is this project? What is this? Okay, so here is the gist of what this project is. FireBot is aiming to maximize the potential of DeFi strategies, yield-generating protocols, and automated trading algorithms to offer tokenized investment vehicles for its users. We engineer and structure investment strategies available through smart contracts deployed on the Polygon blockchain. Their objectives range from high yield— so, you know, earning a lot of passive income and yield— to principal protection. So basically protecting your investment and making sure it doesn't go down, and most of the time it goes up, right? So protecting that initial principal that you put in. They do have a dual token ecosystem, so there's two tokens related to this project, uh, FireBot. They have the FBX token, uh, and then they have the EP token. And both of these, you can view them on CoinMarketCap. We're going to talk a little bit about, you know, how they work in this video, uh, but FPX is the utility and governance token of their DAO. It runs on top of quantitative investment strategies that we designed to offer significant protection against the volatility of crypto markets. So heading over to their documents right here, this is on their GitBook, uh, they do say that Firebot was initially available on Binance. So they were, were seeing success, uh, with this trading algorithm that they developed, uh, for Binance. And it was available on Binance. People were using it through API keys, uh, and then, you know, the KYC measures and API key limitations increased, uh, and some of the risks increased. And they wanted to streamline the onboarding process, uh, so they created FBX, uh, the utility and governance ERC-20 token of our DAO on the Polygon blockchain. Okay, so there is a DAO involved in this as well. So essentially they developed a trading algorithm that keeps your money safe. So if it doesn't detect anything that, that it could make a gain on, it will automatically keep your money in USD. So so it stays stable. But if there is something detected, uh, by, uh, the algorithms, you will actually, you know, get to see that your money increase, and it will automatically go into that. So where you can go and see this is firebot.gg/algo. They go over AI-powered indicators, automated trading, quantitative strategies right here. And basically, you know, this is their return since the inception. So since they created this trading algorithm. It has done a 2,463% return. Average 365-day return is 156%. Average 30-day, 7.28%. And the daily. So here's the evolution of their portfolio and you can see how much it was up every single year, right? 2022 was the only red year for them so far. And then you can also see by quarter. So they have had some red quarters. It looks like 2022, right? Because 2022 was Bitcoin dropping from, uh, or right after Bitcoin dropped in from $69K all the way down, right? They also have a bunch of different graphs showing the evolution of the portfolio. Yesterday's portfolio composition, uh, was this. So you can see heavy on Tron, BUSD, BNB, Bitcoin. And then you can actually scroll down and see the historical data of how their portfolio is changing and automatically rebalancing with this algorithm. So this is about more than just making profits. It's about actually keeping that principal safe and, you know, rebalancing properly depending on the market. We're actually over here on Uniswap and we are going to get some of this FBX token. So I've loaded up my, my wallet with some MATIC here. We're going to connect that. I have 412 MATIC in there. And then, you know, we're going to come over here, we're going to make sure we're on the Polygon network, and we're going to type in the FireBot token right here. So let's click the FireBot token. It's going to say that, you know, warning, it's not on leading US centralized exchanges. For a lot of strictly DeFi projects, it says this because they don't have any centralized exchange listings yet. So let's type in 250 MATIC right here. It's going to fetch us the best price. And for 250 MATIC, we're going to get— or sorry, 240— yeah, 250 MATIC, we're going to get 367 FBX. So let's do that swap. We're going to confirm it up here. All the gas fees and stuff, which on Matic, there is, there is none, right? That cost me 10 cents to do that transaction right there. So the transaction has been submitted. We can check our MetaMask up in the top, and it is executing, uh, as we speak. So it's pending right there, uh, and I will get back to you once it's done. It is done. So we have 367 FBX FireBot tokens now. So that's how you do it. If you would like to participate in the FBX ecosystem, you can go to the link in the description and click that and get started. So let's go into a little bit about the vaults and how to earn yield on this and use the vaults. The vaults will be available right here. Fire Vaults, it says. Make sure you connect your wallet and you're on the Polygon network. So essentially how this works and some of the tokenomics involved in this 300 FBX tokens, you can burn that and mint 1 EP token. So, excuse me, EPs are the ones you actually can earn on, uh, the most. So 300 FBX can burn for 1 EP. More about the vaults. This vault is the core of the ecosystem. The FBX emission contract distributes FBX to EP stakers over time following the emission schedule. So the supply of the FBX token is 21 million, same as Bitcoin. Anyone can create, mint new EP tokens by burning FBX at 300 FBX per EP directly from the vault, or you can get these on the DEXs like Uniswap and SushiSwap. So the— so at inception, we locked all the non-circulating FBX in the contract And the only way to unlock the FireBot tokens is to acquire and stake Elemental Particles, which is their proof-of-burn token. So if we go over here, we're gonna, we're gonna show you how to stake inside this vault. We're gonna click this and we're gonna click max, right? So I'm gonna stake 367, uh, of the FireBot tokens right here for an APY of 7.56. You're gonna click deposit. And there's a custom spending cap right here. You know, I'm just going to click use default. I don't— I've never even— I've never even seen that in my life before. But we're going to click approve right there, and it's going to load up. And then once we get approval on the— this transaction, it will go into this vault. So here we go, we've got the depositing. Boom, we paid 22 cents in fees only for that. Very crazy. And now it is in the process of depositing into this vault right here, uh, and we're gonna wait for that to happen. The total TVL is 2.27 million, so there's $2.27 million in that vault, $4 million in the, in the, um, EP vault. So there we go, we are now in, uh, the, uh, FireBot vault. I'm gonna refresh the page and let's see if it updates right there. Deposited, yes, we do have that deposited, and we will earn the daily rewards right here at 7.56% APY. Now, you know, no financial advice here, blah blah blah, all that. I'm not a financial advisor. Use your money at your own risk, uh, but you know, and farming, DeFi farming can be risky because these numbers can fluctuate and everything, but we have now successfully deposited and used one of the Fire Vaults. You can also, you know, they have a swap right in, in here, and then they have their software, which we already did go over. So the final thing we're going to cover about the FireBot project is the upcoming FBX airdrop. So this is the second airdrop that they did, uh, or that they're doing. They did do the first airdrop, which was to NFT holders. Uh, which they do have their NFT right here, uh, created October 2021. So, you know, has lasted a while here, uh, and currently there are some for buy now, uh, the floor price is 0.3 ETH, uh, this is on Polygon, there are 10,000 of them. You know, I like the art, uh, they don't seem to focus too much, uh, on the NFT, but the NFT holders did get airdropped some FBX tokens in the beginning, uh, and then as well as people who were using their software beforehand also got the airdrop. But this one, uh, so that was in November 2021. Okay, so there are new quests that you can complete, uh, that you will be eligible for the airdrop. So the first one is deposit FBX, our governance token, in its vault to generate a passive yield. That's what I just did. So now I'm eligible, uh, through doing that, uh, depositing in that vault for the airdrop. So that's one of the quests that you can complete, and we've already earned, you know, 4 cents right there, 5 cents off that, off that deposit. You can also mint and stake Elemental Particles, which is the proof-of-burn token we talked about, that, uh, to get a share of the newly emitted FBX tokens. Farm— you can also farm liquidity tokens from SushiSwap to support the protocol and earn liquidity incentives. You can join the FIRE4 vault to benefit from diversified exposure to crypto assets, uh, and each quest earns XP with a maximum cap of 25— or yeah, 2,500 XP for the first 4 quests. Okay, so here are the quests, uh, in writing right there. Use my invitation link below, uh, if you're gonna do some of these quests, uh, it will help out both of us. So that is the FireBot.gg project. Make sure to go check them out on Twitter here. They've got a Discord server. Thank you once again to them for sponsoring this video. I love every single one of you. Drop a like and comment on the video, subscribe, and goodbye.