Collateral top up bots
Backd Keepers are off-chain bots that monitor registered top up positions. Keepers report eligible loans to the Backd smart contract which then executes a collateral top up. When a keeper successfully executes a top up, they receive a percent of the generated top up fee (in the form of LP tokens). Additionally, keepers are allocated Backd rewards in proportion to the value of top ups they execute.
Any individual can become a Backd keeper. The Backd team has provided the framework for a keeper bot that individuals can deploy or modify. Individuals can also create and deploy their own bots. Collateral top ups occur on a priority basis. Meaning, the first keeper to report a collateral top up is the one who earns the fee. Overtime, competition among keepers will grow as more bots are deployed for Backd top ups.
For more info on becoming a Backd keeper join our Discord or check out our blog post where we detail the advantages of running a keeper bot.
Last modified 9d ago
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