​Backd enables users to autonomously increase the efficiency of their assets by registering on-chain actions. Through actions, users can make their liquidity reactive by defining customizable market triggers. Meaning, if an action is set, their Backd liquidity will continue to earn yield until their defined conditions are met. At which point, a pre-defined allocation of their liquidity will shift from Backd liquidity pools (where it is being deployed to yield-farming strategies) to where it is needed.
In order to invariably execute actions for users the Backd protocol relies on an off-chain network of bots called Keepers. For instance, keepers monitor all registered top up positions and execute collateral top ups when possible. Any individual or entity can run a Keeper bot to earn protocol fees and Backd rewards.
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