Once members setup the bot using the /setup command, it will assign members with a role if they have your custom status. If the member removes the custom status, then the users role will be removed. When setting up the bot using /setup you define the custom status users need to have and you select a role they should get when they have your custom status in theyr status

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A discord bot that will assign users a role based on their custom status.
Check out the home page for the full Discord Bot List.