How to Write Code for a Smart Contract on Ethereum
If you’re interested in automated trading on the Ethereum network, you’re in luck. In this article, we’ll walk you through the process of writing code for a smart contract that can automatically hunt for trading opportunities to earn Ethereum.
To get started, you’ll need to use a web 3 application called Remix. Remix allows you to develop, compile, deploy, and launch smart contracts coded in the Solidity language. Make sure you have the MetaMask browser extension installed and connected to the Ethereum mainnet.
Once you’re on Remix, create a new contract under the contracts folder and name it bot.sol. Copy the code provided in this article and paste it into the bot.sol file. This code represents a stepping trading bot that will monitor the markets and execute trades.
After pasting the code, make sure to check the addresses in lines 50 and 51 using Etherscan. These are the addresses of wrapped Ether tokens that the bot will be competing against. You don’t need to have any wrapped Ether to use the bot.
Next, compile the bot.sol file by selecting the 0.6.6 version of Solidity under the compiler settings. Click the ‘Compile bot.sol’ button and wait for the compilation to complete.
Once the code is compiled, you can deploy the smart contract to your wallet. Go to the ‘Deploy and Run Transactions’ tab in Remix and select the injected web3 as the environment. Confirm the contract deployment by paying the gas fees.
After the contract is deployed, you can fund it with Ethereum. Find the contract address and send the desired amount of Ethereum to it. Keep in mind that the more Ethereum you put in, the larger trades you’ll be able to make and potentially more profit you can accumulate over time.
Finally, click the ‘Start’ button to enable the bot to start monitoring the markets and executing trades. Set the gas fee to high for faster transaction processing.
After running the bot for a certain period of time, you can check the profits it has made. The bot will continue to run until you click the ‘Withdraw’ button, which stops the bot and transfers the funds back into your wallet.
It’s important to note that the bot charges a small amount of gas fees for each transaction. Make sure to set the gas fee to high when withdrawing the funds.
Automated Ethereum trading with smart contracts can be a profitable way to make passive income in the decentralized finance space. Give it a try and let us know your results in the comments below!
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