What is the Automated Market Maker App?

The Fonbnk Automated Market Maker (AMM) is a micro app designed to automate swaps on the Fonbnk Distributed Exchange for Verified Market Makers. This new development allows Market Makers to automatically fulfill their swaps 24/7, thus earning discounted airtime even while they sleep. The app is designed to work in the background, and it automatically confirms the swap activities. Once a user requests a swap and the AMM app is running in the background, the app matches the receiving SMS with the swap, and if there is a match, it automatically confirms the swap. If there is no match, the Market Maker can manually confirm or reject the activity.

The AMM micro app has all the features needed to be a Market Maker. Market Makers can set up as many swaps as they want, and enjoy automatic approval and completion. The app allows Market Makers to show swap activity statistics with the matched SMS, manually confirm/reject the activity, and manage swaps by creating, editing, or viewing them. The AMM app is easy to use and allows Market Makers to earn discounted airtime without having to be near their phones.

The automated nature of the Fonbnk AMM app is a major advantage over manual DEX or message board services such as Paxful and Binance P2P, which require manual confirmation of swaps. The AMM app is similar to Uniswap or Sushiswap, which are automated market-making and liquidity applications. However, unlike Uniswap, the AMM app allows Market Makers to buy prepaid airtime credits at a greater discount than they would obtain directly from mobile carriers, while also earning USDC and MIN.

How the Auto Buy app works:

AMM

The AMM app has been created for market makers to automate their swap confirmation by matching receiving SMS with swaps, if the app is running in the background. This app has all of the features that are needed to be a market maker such as::

1. Auto confirmation of the swap activities
2. Show swap activity statistics with the matched SMS
3. Manual confirm / reject the activity if any failure of auto match service
4. Show all the SMS of carrier
5. Manage swaps by create/edit/view

Here is the detailed description of the pages:

1. Activity Page: This page will show all of the activities performed by users on swaps created by market makers. It will show the activity detail and matched SMS with confirm / reject buttons if the SMS does not auto match.

This will show the swap details, buyer information with matched SMS (if any)

1. SMS Page: This page will show all of the SMS that is received by the market maker’s carrier, so that the market maker can confirm their proof of transactions.

• My Swaps Page: This page will help market maker’s to manage their swaps. On this page the market maker can create / edit / view the swaps with full details. Here is a detailed description of the process:
• View Swap: This is the first page of this tab, here market makers can see all of their swaps with the statistics chart like how much this swap has been fulfilled. Additionally this page offers market maker the ability to filter swaps as well by clicking on the `Filter` button.

1. Create Swap: Using this screen market maker can create his swap just like in the main app.

1. Swap Details: On this page the market maker can see all of the details related to the swap with a list of activities on that particular swap.

Market makers can edit the swap exchange rate by clicking on the edit button or they can generate the swap QR code that they can share with various social networking sites.

1. Edit Swap: On this page, the market maker can update the exchange rate if they would like to update the swap.

1. Profile: This page is used to show market makers information with an option to enable / disable the background processing. By using this option the user has the ability to enable automatic confirmation of swaps by reading the received SMS of the carrier. If the market maker thinks that this feature does not work well then he can disable it.

1) Ensure the Auto Buy app is running

2) Set up the swap you want to automatically sell

3) Enjoy the discount airtime flowing into your phone!