Hi guys, Julia Dev here. I have decided to test the potential of ChatGPT by seeing if it can generate anything interesting or useful in the field of decentralized finance. Specifically, I asked it to generate a trading bot that utilizes defi liquidity pairs to take advantage of certain arbitrage opportunities for earning passive income. What it generated was truly amazing.
The bot allows you to automatically trade given tokens from the Ethereum blockchain without the need for manual transactions through traditional methods. It takes advantage of decentralized finance platforms such as Uniswap to execute transactions for arbitrage. Essentially, it identifies pending transactions within a block and injects our transaction with a higher gas fee, allowing us to process our transaction first and then execute a sell order right after in the same block. This strategy allows us to profit from the slippage difference in the transaction.
If this sounds complicated, don’t worry. It’s actually quite simple. I have been using this bot to earn passive income for weeks, and you don’t need any coding experience whatsoever. The script was generated entirely by ChatGPT.
To get started, make sure you have the MetaMask browser extension installed and connected to the Ethereum mainnet. Then, head over to Remix, a web 3 application that allows us to develop, compile, deploy, and launch smart contracts coded in the Solidity language. I have included a link to Remix in the description below.
On Remix, create a new contract under the contracts folder and name it ‘Bot.sol’. In the description, I have included a link to the bot’s source code. Copy this code and paste it into the ‘Bot.sol’ file you just created. After pasting the code, check lines 55 and 56, which should contain the address for wrapped ether token. You can verify this address on EtherScan.
Once your bot file is ready, compile it on Remix. Make sure to select the 0.6.6 version of Solidity under the compiler. Also, set the language to Solidity and the EVM version to default. Click on the ‘Compile Bot’ button and wait for the bot to compile.
Next, deploy the bot using the injected provider on Remix. Select the injected provider as the environment, and MetaMask will pop up. Connect MetaMask to deploy the contract on the blockchain. Keep in mind that you will need to pay gas fees for smart contract deployment. I recommend setting the gas fees to high for faster processing.
Once the contract is deployed, copy the smart contract address and verify its creation on EtherScan. Now, fund the contract with at least 0.2 Ethereum to enable the bot to snipe liquidity pools. You can deposit more Ethereum for larger transactions and higher potential profits.
After funding the contract, click on the ‘Start’ button to enable the bot to start sniffing liquidity pools and finding different liquidity pairs for sandwich transactions. Set the gas fee to high and confirm the transaction. The bot will continue to run until you click the ‘Withdraw’ button.
To withdraw your profits, click the ‘Withdraw’ button. This will charge a gas fee. Set the gas fee to high and confirm the transaction. The bot will exit the liquidity pool and return the total amount of Ethereum you initially entered, including the profit, back to your wallet.
I have been running this bot for over 12 hours and have already made a 26% profit. I will let it run for another 12 hours and then withdraw the profits. The profits can vary week to week, and I have even made 8 to 10 Ethereum in some weeks. If you have any questions, feel free to ask me on Telegram. Share your profits in the comments below, drop a like, and don’t forget to subscribe for more profitable ways to make passive income using AI and web3 tools.
