00:00Hey guys, George here.
00:02In this tutorial I'm going to explain an easy method to make passive income using decentralized
00:05exchanges like Uniswap.
00:07It's easy to set up, it requires no prior knowledge, anyone can do it.
00:11So without wasting any more time, let's hop on my computer and get started.
00:14Just make sure to check the description for any updates and don't forget to hit that
00:17like button.
00:18Alright, imagine Jack wants to swap $1,000 in Ethers for Uni tokens, with the current
00:23price of Uni being $10 per token during the trade.
00:26Therefore, by performing a basic calculation, it can be determined that Jack will be granted
00:31100 Uni tokens.
00:33However, due to potential price fluctuations, Uniswap mandates users to establish a slippage
00:39percentage.
00:41This refers to the percentage of a potential price hike you are willing to agree to in
00:46order for the transaction to be completed.
00:48In this scenario, by setting slippage at 10%, Jack agrees to pay a maximum of 11 per Uni
00:53token, equivalent to about 90 tokens for $1,000.
01:00When Jack uses Metamask to submit the transaction, the situation will look like this.
01:05Our bot will detect Jack's transaction, purchase UNI token for $10, and raise the price.
01:12So Jack will buy higher.
01:14Jack will purchase 90 units of the UNI token for a total cost of $1,000.
01:19Our bot will sell all purchased tokens from the initial transaction, retaining the profit
01:24of approximately $90 minus gas fees, everything in the identical block.
01:30To begin, you must have Metamask installed, and linked to the Ethereum mainnet.
01:35If Metamask isn't installed, a link in the description will guide you through the installation
01:39process.
01:42Remix is an online tool that enables the creation, deployment, compilation, and execution of
01:46smart contracts written in Solidity.
01:49You can find the Remix website link in the description below.
01:51Next, go to the sidebar on the left and make a new file called bot.sol.
01:55If you check the description, you will find a link to the code.
01:59You need to copy and paste that code.
02:02This is the frontrunner bot contract that we plan to deploy.
02:06After pasting the code, make sure to check out lines 55 and 56.
02:10When you verify the addresses on Etherscan, you will notice that they belong to wrapped
02:17Ether tokens.
02:19You can observe that it is the official wrapped Ether address.
02:23It's always a good idea to check that.
02:25Now let's return to Remix.
02:27Once our bot file is prepared, we can proceed with compiling it.
02:31Navigate to the Solidity Compiler option in the side menu.
02:34As you can observe, the contract is designed for Solidity version 0.6.6.
02:40Under Compiler, select the version 0.6.6 so it will match our contract.
02:45Then proceed to compile bot.sol and be patient while waiting for the compilation of the bot.
02:51Therefore, now we deploy this to our wallet.
02:55Head on over to Deploy and Run Transactions on Remix.
02:59Choose Injected Web 3 in the setting to link Remix with our Metamask within the environment.
03:04Lastly, ensure that you have Ethereum in Metamask so you won't get gas estimation failed error.
03:13The deployment tool is now prepared.
03:15Select the Deploy option in order to publish our contract on the Ethereum blockchain.
03:20We need to confirm the creation of our contract by paying some gas fees.
03:24I constantly increase the gas fees to ensure faster transaction processing.
03:28There isn't much variation, simply press Confirm and be patient for the transaction
03:32to be processed.
03:44Confirmation of the transaction has been completed.
03:47Now our contract is deployed.
03:48As you can observe, there are 5 actions involved in a contract.
03:52Pressing the Start button will initiate the bot to begin monitoring the mempool.
03:56Withdrawal will stop the bot and transfer funds back to your wallet.
04:00Owner, which returns the owner of the contract and Stop will stop the bot from monitoring
04:07the mempool.
04:09Symbol is your unique contract identifier.
04:12Let's copy the contract address and confirm that it was created.
04:16Go back to Etherskin and paste it.
04:19Alright, now we need to fund our contract with some ethers in order to access liquidity
04:25pools for sniping.
04:27I will copy this address and go to my Metamask.
04:30Make sure that you have copied the correct address.
04:33You can fund the contract with whatever amount you want.
04:36However, the higher the amount you put in, the bigger transaction you'll be able to
04:41front run and the more profit you will generate over time.
04:44For example, if you are only engaging in front running with 0.5 ethers, you will not be able
04:50to generate as significant slippage in the price as you would with a 10 ether insert.
04:56Nice, we made it.
04:59Alright, transaction approved and the contract has been funded.
05:03We are able to verify this by monitoring our contract address on etherscanned.io.
05:12You can observe that our contract currently holds 1 ethereum in its balance, which is
05:16the sum we initially funded into it.
05:18The final action is to press the start button.
05:21This will allow the bot to start monitoring the mempool to find various liquidity pairs
05:25so that you can front run the transactions.
05:28I'll see you guys in a couple hours.
05:34Hey everyone, I'd like to show the earnings generated by the bot for me.
05:40I have about 1.17 ether, which is roughly 17% of the profit.
05:45Here are the initial transactions that our bot made during the 10 hour period.
05:49There are a total of 7 transactions.
05:52Calculating the total profit minus the gas fees results in precisely 0.17 ethereum.
05:59I'll meet you again in 10 hours.
06:03Okay team, let's find out how much additional revenue we generated.
06:09It's approximately 1.37 ether, so basically it only took me around a day to increase my
06:15deposit by more than a third, around 40%, which isn't that bad.
06:20Therefore the bot will keep operating until you push the withdraw button.
06:24The bot will leave the liquidity pool and return back to your wallet.
06:27The initial ethers you put plus the earnings.
06:32Let's click it.
06:37This will require a small amount of gas.
06:39I will adjust it to high and then we press confirm.
06:45The transaction has been confirmed.
06:47Now let's access our metamask to see what I currently have.
06:51Now we can see the balance from the bot is in my wallet.
06:54There have been weeks when I earned 5-6 ethers.
06:58Sometimes it's not always profitable and profits fluctuate week to week, but generally
07:02I earn over 2 ethereum per week.
07:05You can reach out my telegram if you have any questions, I've included the telegram
07:09link below.
07:10Also you can subscribe our telegram channel.
07:13So guys, share your profits in the comments below.
07:17Click the thumbs up if you found this video helpful and remember to subscribe to stay
07:21updated.
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