In the dynamic world of cryptocurrency, meme coins often spark intrigue but rarely transform into serious market contenders. However, BONK, initially launched as a playful meme token, is rapidly rewriting this narrative. Evolving far beyond its whimsical beginnings, BONK is undergoing a remarkable metamorphosis, emerging as a formidable force in the crypto space. This transformation is most notably embodied by BONKbot, a Solana-based Telegram trading bot revolutionizing how traders interact with digital assets.
In a striking display of this evolution, BONKbot recently achieved a milestone by amassing $768,000 in fees within a mere 24-hour span. This achievement is impressive in its own right and places BONKbot on par with some of the most established DeFi protocols on Ethereum, such as Aave and Curve.
This surge in revenue came on the heels of BONKbot facilitating a staggering $59 million in trading volume on Solana's DEXs on December 27th. Marking its third consecutive day of generating over $700,000 in revenue, BONKbot has swiftly elevated itself to the ranks of DeFi giants, challenging the status quo of platforms that boast billion-dollar valuations.
Ethereum-based protocols are taking note of Bonkbot's meteoric rise. In a notable development, UNibot, an Ethereum trading bot, announced its intention to support Solana starting January 1st. This move, facilitated through partnerships with Jupiter and BirdEye, positions UNibot to capitalize on the burgeoning Solana market. While generating $50,000 in daily fees, UNibot's cross-chain expansion is a strategic effort to capture a larger market share.
Further adding to BONKbot's appeal is its contribution to the $BONK token ecosystem. A portion of BONKbot's revenue, precisely 10%, is allocated to the instantaneous burning of $BONK tokens. This strategy enhances the token's value beyond its meme origins and introduces a deflationary aspect to its economics. Such tactics elevate the token's status and cement BONKbot's integral role in the broader BONK ecosystem.
The evolution of BONK from a mere meme token to a pivotal ecosystem token is also supported by the development of BONK-related applications. BONKswap, a dedicated DEX, and the BERN token by BONK EARN contribute to BONK tokens' burning through their own fee structures and token taxes. This symbiotic relationship reinforces the token's utility and value within the ecosystem, showcasing the potential of meme coins to develop into robust and multifaceted crypto assets.
As 2023 draws to a close, the crypto community is keenly observing the evolving story of BONK and its influence on the DeFi ecosystem. With its innovative approach and expanding ecosystem, BONKbot is not merely a participant in the crypto market – it is a true game-changer, reshaping perceptions and possibilities in the realm of digital assets.
Updated Mar 8, 2024, 8:35 p.m. Published Jan 29, 2024, 7:00 a.m.
2 min read
(Alexander Grey/Unsplash)Trading application Unibot will issue a native Solana ecosystem token that accrues value back to holders of the original Ethereum-based UNIBOT tokens, a move that initially met with criticism and caused volatile price action last week.
Unibot expanded to the Solana ecosystem in late December but said last week it would introduce a UNISOL token that accrued revenue in the form of Solana’s SOL tokens. The decision created concerns among long-time UNIBOT holders, who feared dilution as traders would be inclined to choose the newer token in favor of the older one. A sell-off ensued.
But developers said early Monday that UNISOL could ultimately boost UNIBOT’s value accrual, helping ease some losses from the past few days as traders priced in new information. The Unibot platform connects user wallets to the decentralized exchange Uniswap and lets them punt on tokens just as easily as they would send messages to each other on the popular messaging app by using the messaging application Telegram or a terminal.
UNIBOT slid from over $100 to as low as $48. (DEXTools)“The revenue sharing for protocol revenue generated by @UnibotOnSolana is split 50/50 between two pools,” developers posted on X. “Pool #1: simply being a holder of $UNIBOT on Ethereum, no strings attached. You'll link your Ethereum address, which holds $UNIBOT to a Solana address that receives revenue in the form of SOL. Pool #2: holders of $UNISOL on Solana.”
UNIBOT holders are set to receive some 80% of the supply of UNISOL through a snapshot and claim mechanism. Since its early January launch, over 20,000 users have generated more than $130m in total volume, developers claimed Monday.
//ANNOUNCEMENT
We'd like to clear the confusion around the path forward.
The revenue sharing for protocol revenue generated by @UnibotOnSolana is split 50/50 between two pools, described as follows.
Pool #1: simply being a holder of $UNIBOT on Ethereum, no strings attached.… pic.twitter.com/vqEVVhG1FI
— Unibot (@TeamUnibot) January 28, 2024 On-chain data shows Unibot has garnered 11,700 ether (ETH) in fees since the platform went live in May, paying out a portion of this straight to token holders. Users have also steadily increased, reaching 41,000 on Monday compared to just over 2,000 at the end of last June.
On Sunday alone, the platform generated $74,000 in fees across Solana and Ethereum on $7.5 million in combined volumes.
(Dune)Per Dune Analytics, Unibot's average daily volumes are just above $5.5 million, a long way from the $900 million daily on the market-leading DEX Uniswap.
UNIBOT prices are up 21% in the past 24 hours, DEXTools data shows.
Cryptocurrency trading platform Unibot team made a new announcement today regarding the UNISOL token to be issued based on Solana.
At this point, Unibot, which initially came out as part of the Ethereum (ETH) ecosystem, announced that it has now adopted the Solana ecosystem and will launch a new token, UNISOL.
The new token, UNISOL, is designed to generate revenue in SOL, Solana's native currency, the team said.
This new token announcement was met with skepticism by investors and caused volatility in UNIBOT's price.
However, the developers assured in their statement that UNISOL can increase the value of UNIBOT.
The team also announced that UNIBOT holders will receive 80% of the UNISOL supply as an airdrop.
This move will allow UNIBOT holders to benefit from the 50% distribution of revenue generated by Unibot on Solana and earn additional earnings through the UNISOL airdrop.
UNIBOT, which experienced an increase of nearly 50% after the announcement, continues to be traded at $ 57 with an increase of approximately 20% at the time of writing.
//ANNOUNCEMENT
We'd like to clear the confusion around the path forward.
The revenue sharing for protocol revenue generated by @UnibotOnSolana is split 50/50 between two pools, described as follows.
Pool #1: simply being a holder of $UNIBOT on Ethereum, no strings attached.… pic.twitter.com/vqEVVhG1FI
— Unibot (@TeamUnibot) January 28, 2024
*This is not investment advice.
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The popular trading application UniBot is preparing to launch a Solana ecosystem-based token, UNISOL, to restore value to the owners of the original Ethereum-based UNIBOT token, which caused variable price movements last week due to initial criticism.
UniBot’s UNISOL MoveUniBot made a significant impact with its expansion into the Solana ecosystem at the end of December 2023. Following this expansion, it was announced last week that a UNISOL token, which would accrue income in the form of Solana’s SOL token, would be introduced. This decision caused concern among long-term UNIBOT investors, who feared that the old token’s price would fall as investors might prefer the new token, leading to selling pressure on the altcoin.
Developers stated in the early hours of the day that UNISOL could ultimately increase the price of the UNIBOT token and help mitigate some of the recent losses as investors price in the new development. As is known, UniBot allows users to connect their wallets to the decentralized exchange Uniswap and buy and sell tokens as easily as sending messages to each other on the popular messaging application Telegram or through a terminal.
In a statement regarding the new token issuance, Unibot developers announced from the platform’s official X account that “The protocol revenue generated by Unibot on Solana will be split 50/50 between two pools. Pool 1 was created for UNIBOT token holders on Ethereum without any conditions. You need to link your Ethereum wallet address holding UNIBOT to a Solana wallet address that earns income in the form of SOL. Pool 2 was created solely for UNISOL holders on Solana.”
UNIBOT holders are preparing to receive about 80% of the UNISOL supply through a snapshot and claim mechanism. Developers reported that since the launch at the beginning of this month, over 20,000 users have generated more than $130 million in volume.
Usage of the UniBot Platform is IncreasingOn-chain data shows that since its launch in May, the UniBot platform has generated 11,700 Ether (ETH) in transaction fee revenue and has paid a portion of this directly to token holders. The number of platform users has also steadily increased, from just over 2,000 at the end of June last year to 41,000 early today.
On January 28 alone, the platform generated $74,000 in transaction fee revenue from a combined volume of $7.5 million across Solana and Ethereum. According to Dune Analytics, UniBot’s average daily volume is just over $5.5 million, which is far from the daily $900 million in transaction fee revenue of the market-leading decentralized exchange Uniswap.
The latest data shows that UNIBOT has surged over 40% in the last 24 hours following recent developments. After this rise, the altcoin has slightly pulled back and is currently trading at $61.29, up 20.02%.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in...
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January 29, 2024
Source / Sam Cooling x Unibot Trading application Unibot has announced the issuance of a native Solana ecosystem token, UNISOL, causing a stir in the market and triggering volatile price action last week. The move, which initially met criticism from long-time UNIBOT holders, is intended to accrue value back to the holders of the original Ethereum-based UNIBOT tokens.
F*CK points. Trade with Unibot, share your PNLs on @X and get $UNISOL tokens to start earning revenue on Solana. Our airdrops are kickstarting soon. 🪂
— Trojan on Solana (@TrojanOnSolana) January 26, 2024
Unibot is a trading tool built within Telegram that allows users to execute on-chain token trading activities on Uniswap through conversations on the messaging platform. The bot offers features like token swapping, copy trading, limit orders, privacy trading, and real-time alerts for new Ethereum tokens.
Unibot expanded its operations to the Solana ecosystem in late December, but introducing the UNISOL token last week raised concerns among UNIBOT holders. Fears of dilution led to a sell-off as traders seemed inclined to favor the newer UNISOL token over the original UNIBOT.
However, developers reassured the community on Monday that UNISOL could enhance UNIBOT’s value accrual, potentially alleviating recent losses as traders factored in new information. Unibot facilitates user wallets’ connection to the decentralized exchange Uniswap, enabling seamless token trading similar to messaging on popular platforms like Telegram or a terminal.
Developers explained the revenue-sharing mechanism for protocol-generated income by @UnibotOnSolana, splitting it 50/50 between two pools. The first pool benefits holders of UNIBOT on Ethereum, who link their Ethereum address to a Solana address receiving revenue in SOL. The second pool rewards holders of UNISOL on Solana.
UNIBOT holders are slated to receive approximately 80% of the UNISOL supply through a snapshot and claim mechanism. Despite the recent sell-off, developers believe this integration could enhance UNIBOT’s value proposition.
Users can interact with Unibot directly on Telegram, streamlining the process of making token trades without switching between social and decentralized finance (DeFi) applications. Unibot charges transaction fees ranging from 0.5% to 1.5% for each transaction, with 80% of its income generated from these token trading taxes.
Since its launch in early January, Unibot has attracted over 20,000 users, generating more than $130 million in total volume, according to developers. The platform’s user base has steadily increased, reaching 41,000 on Monday, up from just over 2,000 at the end of June.
Unibot Expands to Solana with Unisol Aiming to Boost Revenues Amid Shift in Memecoin Trading Activity
According to Dune Analytics data, out of the current 3,280 ETH revenue captured by Unibot, 2,843 ETH comes from the UNIBOT token trading tax, with less than 20% generated from the main bot trading business. On Sunday alone, according to Dune Analytics, Unibot generated $74,000 in fees across Solana and Ethereum, with average daily volumes exceeding $5.5 million.The application’s revenue model revolves around two primary methods: bot trading fees and the trading tax of its native token, UNIBOT. The former involves the platform charging a 1% fee on each transaction, with 40% distributed to token holders. The latter is a 5% tax on all UNIBOT token transactions, with 1% allocated to token holders.However, revenues generated by Unibot are shared with token holders who possess at least 10 UNIBOT. Token holders have received over 4,496 ETH in total rewards, valued at over $11.3 million at current prices.Token holders can enhance their rewards by sharing their unique referral code, earning 25% of the total fees generated by anyone using their referral code. Stakers can expect a 9.43% annual percentage rate (APR).Unibot’s strategic expansion to the Solana blockchain comes amid a booming period for blockchain trading in December. Decentralized exchanges on Solana have now become the third-most active among traders, following those on Ethereum and Arbitrum.Last summer, Ethereum experienced a similar memecoin frenzy driven by platforms like Unibot and Maestro, leveraging Telegram trading bots. As activity metrics on Solana return to normal after a year-end surge, Unibot’s move to Solana aims to capitalize on the blockchain’s increasing popularity among traders.During its peak in August, Unibot facilitated over $8 million in daily trading volume through its Telegram interface, generating more than 11,400 Ether worth $29.5 million in lifetime fees. However, with a significant portion of memecoin trading activity shifting from Ethereum to Solana, Unibot’s revenue also experienced a decline.Popular trading bots are following the Solana trend to boost revenues, yielding positive results. Unibot’s eponymous token has surged 85% over the past month, trading around $94.
Telegram Bot project Unibot announced in its post on its X account today that it has decided to part ways with the team that founded Unibot in Solana.
It was stated that the reasons behind this decision were that Solana launched a Blast bot named 'evm_unibot' without permission and that the Solana team could not fulfill its commitment to Unibot.
Unibot also said in its statement that they will develop their own proprietary Solana robot.
“We are reaching out to share an important update on our collaboration with the team that built Unibot at Solana.
After careful consideration and feedback from our partner organizations, the Unibot core team has decided to part ways with the team that founded Unibot at Solana.
This decision is driven by security concerns, prompting us to move to in-house development of Unibot and running it on Solana using our secure server infrastructure.
The main reasons for the termination of our partnership are summarized below:
1. A breach of trust occurred because the Solana group launched the Blast bot named “evm_unibot” without prior permission and authorization from us. Users reported that they were unable to withdraw money.
2. KYC rejection
3. Despite multiple attempts to collect fees, the Solana group has failed to honor commitments made to the Unibot core team and has raised concerns about receipt of promised fees to Unibot Owners.”
After this news, UNIBOT price dropped by 40%.
*This is not investment advice.
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The native token of trading application Unibot (UNIBOT) sunk 40% on Monday after announcing the termination of its collaboration with the team that deployed it on Solana over security concerns.
Unibot said a breach of trust had occurred when the Solana group "launched the Blast bot named "evm_unibot" without obtaining prior permission and authorization from us," in a post on X, adding that the group refused to perform KYC and failed to honor commitments around fees.
Dear Community Members,
We are reaching out to share a significant update regarding our collaboration with the team which deployed Unibot on Solana.
After careful consideration and feedback from our partnered organizations, the Unibot core team has decided to part ways with the…
— Unibot (@TeamUnibot) March 11, 2024 "This decision is rooted in security concerns, prompting us to transition to in-house development and operation of Unibot on Solana using our secure server infrastructure," Unibot added.
From trading at a high of $77 at the start of the European morning on Monday, UNIBOT sank 40% to around $45.51 before rebounding slightly. At the time of writing, it is priced at $50.75, down just over 30% on the last 24 hours, according to data by CoinMarketCap.
Read More: Solana Client Developer Jito Ends 'Mempool' Function
Unibot, a well-known Telegram Bot project, is currently going through a lot of trouble because of its partnership with Solana. The core team of Unibot has made the important decision to cut ties with Solana. They have also cited problems that have come up during their time working together.
Dear Community Members,
We are reaching out to share a significant update regarding our collaboration with the team which deployed Unibot on Solana.
After careful consideration and feedback from our partnered organizations, the Unibot core team has decided to part ways with the…
— Unibot (@TeamUnibot) March 11, 2024 Unibot Uncovers Breach of Trust with Solana At the heart of the decision lies a breach of trust. Unibot discovered that the Solana team had set up “evm_unibot” on Blast without permission. This one-sided action violated Unibot’s rules and caused withdrawal issues for users. Unibot values community trust and safety, and these actions damage it.
Additionally, the Solana group’s refusal to follow KYC rules made things worse. Know Your Customer (KYC) procedures ensure financial transaction security and compliance. Solana’s refusal to follow these rules caused Unibot problems and raised questions about the platform’s openness and compliance.
Solana kept their Unibot fee promises despite being repeatedly asked to do so. Not paying their bills put Unibot’s finances at risk and lowered the Solana team’s credibility. The Unibot core team had to reconsider their partnership with Solana because they couldn’t solve these issues.
Unibot decided to strategically build its own Solana bot to address these issues. This move aims to regain platform control and improve security to protect users. Unibot wants to bring development in-house to make it more transparent, accountable, and user-safe.
Unibot Teams Up with [Redacted] for New Solana Bot Development Unibot launched a partnership with [Redacted] to develop its Solana bot. This partnership gives Unibot a fresh start by using [Redacted]’s knowledge and resources to build a powerful and simple Solana bot. This partnership supports Unibot’s goal of creating new blockchain solutions and improving user experience.
This partnership gives Unibot users SOL reward tokens from the Unibot Core Team. This project rewards loyal Unibot users and encourages community participation. SOL reward token announcements will be made on Unibot’s official channels. All users will have clear and open access.
Overall, Unibot’s decision to end its partnership with Solana shows its commitment to transparency, openness, and user safety. Unibot wants to overcome its issues and become stronger by developing its Solana bot and partnering with [Redacted]. Unibot will continue to serve its community and improve the blockchain ecosystem as it evolves.
AUTHOR
Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.
Unibot, a distinguished presence in the realm of crypto trading services on Telegram, has made the significant decision to sever ties with the Solana team. This development comes in the wake of a series of unsettling incidents that have shaken the foundation of trust within the Unibot community and raised pertinent security concerns.
Venturing onto social media platforms, Unibot’s core team has taken the proactive step of elucidating the rationale behind this decision. A pivotal factor cited in this explanation is the unauthorized rollout of “evm_unibot” by the Solana group, an action undertaken without the requisite permissions or approvals from Unibot. This breach of protocol has served as the catalyst for the dissolution of the partnership.
Unibot’s Commitment to Security and Transparency In a resolute demonstration of its commitment to the principles of security and transparency, Unibot has unveiled its strategic plan to transition towards the in-house development and management of its Solana bot. This decisive move underscores Unibot’s unwavering dedication to upholding the integrity of its services and safeguarding the interests of its loyal user base.
Furthermore, the core team at Unibot has not hesitated to hold the Solana group accountable, issuing a call for rebranding and the fulfillment of obligations pertaining to the distribution of fees pledged to Unibot holders. However, the announcement of this strategic realignment has been met with a significant market response, with the price of UNIBOT experiencing a precipitous decline of over 46% within the span of just 24 hours, now trading at $40.25.
Also Read: Court Denies Sam Altman’s Worldcoin Ban Lift Plea, WLD Price To Drop?
Partnerships and Community Response Despite the fracture in its relationship with the Solana team, Unibot has wasted no time in charting a course for the future. The unveiling of an impending partnership with a redacted entity signals Unibot’s proactive approach towards advancing the development of its proprietary Solana bot.
This collaboration is poised to elevate the user experience across prominent platforms such as Telegram and Unisol-X, while also ensuring the direct distribution of SOL reward tokens by the Unibot Core Team. However, the news of this partnership has ignited a diverse spectrum of reactions within the crypto community. While some stakeholders have expressed skepticism regarding the terminology employed in Unibot’s announcement, others have seized upon the opportunity to champion their own initiatives, including the launch of airdrop campaigns.
Also Read: Bitcoin Records $2.6B Weekly Inflow Amid Growing Wall Street Interests
In a pivotal move that underscores its commitment to integrity and user trust, the Unibot Core Team has announced a strategic shift in its approach to deploying Unibot on the Solana blockchain. The decision, driven by a series of operational and ethical considerations, marks a significant departure from the team’s previous collaboration with an external group responsible for Unibot’s Solana operations.
The core team’s resolve to realign its operations with its foundational values of transparency, security, and honesty heralds a new era for Unibot and its dedicated community.
Realigning with foundational values The Unibot Core Team’s decision to sever ties with the external Solana deployment team is not one taken lightly. It stems from a profound commitment to uphold the project’s core values, which serve as the bedrock of its relationship with the community. The request for the external group to change its name and fulfill its financial obligations to Unibot holders reflects the core team’s dedication to transparency and accountability. The move is a clear statement that Unibot stands for more than just technological innovation; it embodies a commitment to ethical conduct and community respect.
The issues leading to the decision, including unauthorized launches and a refusal to comply with standard KYC procedures, have highlighted significant gaps in alignment between the external team’s operations and Unibot’s values. These challenges have underscored the necessity for the Unibot Core Team to take decisive action, ensuring that all aspects of Unibot’s deployment on Solana are conducted in a manner that reinforces trust and security for its users.
Unibot Core Team forging ahead with a new partnership In response to these challenges, the Unibot Core Team is charting a new course by partnering with a yet-to-be-disclosed entity for its proprietary Solana bot. The partnership is poised to redefine the Unibot experience on Solana, prioritizing the security and transparency that are fundamental to the project’s ethos. The forthcoming Solana bot, accessible through the Telegram platform and Unisol-X platform, signifies a strategic pivot towards in-house development and operation, promising a more secure and user-centric platform.
The anticipation surrounding the official launch of the Unibot Solana Official TG Bot and Unisol X is palpable. With the promise of zero fees on Unibot Solana for the first month, the core team is not only demonstrating its commitment to providing value to its users but also its confidence in the new direction. The transition period is a testament to the team’s agility and its unwavering focus on delivering a platform that meets the high standards expected by its community.
A renewed commitment to excellence The Unibot Core Team’s strategic redirection is a bold affirmation of its dedication to the project’s core values and its community. By taking control of Unibot’s Solana operations, the team is setting a new standard for transparency and security in the DeFi space. The move is expected to bolster user confidence and solidify Unibot’s position as a trusted name in decentralized finance. The introduction of SOL reward tokens directly from the Unibot Core Team further exemplifies the commitment, offering tangible benefits to users and reinforcing the project’s community-centric approach.
Looking forward, the Unibot Core Team’s focus on in-house development and strategic partnerships is poised to usher in a new era of innovation and growth for the project. As Unibot continues to evolve, the core team’s dedication to its foundational values will remain at the forefront of its operations. The community can expect a platform that not only meets but exceeds the highest standards of security, transparency, and user engagement. With these changes, Unibot is well on its way to achieving its vision of becoming a leading force in the DeFi ecosystem, driven by a commitment to excellence and a deep respect for its users.
Conclusion The Unibot Core Team’s recent announcements represent a significant milestone in the project’s journey. As it embarks on the new chapter, the team’s dedication to its core values and its community is clearer than ever. With a strategic shift towards in-house development and a new partnership for its Solana operations, Unibot
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In a significant move, the Unibot core team has announced a decisive shift in its collaboration on the Solana blockchain, pointing toward a future where trust, security, and community values take center stage, per a statement on their official social media accounts.
Unibot Core Team Emphasizes Commitment To Transparency and Security This pivot comes as the team ends its partnership with the group that previously deployed Unibot on Solana, citing a misalignment with Unibot’s foundational principles of transparency, security, and honesty.
According to a recent Unibot’s official X account update, this separation was fueled by “trust and commitment breaches.” Notably, an unauthorized launch of a Blast bot under Unibot’s name without prior approval and a consistent refusal to adhere to Know Your Customer (KYC) protocols “raised red flags.”
Moreover, the Solana group’s failure to fulfill financial obligations to Unibot holders prompted the core team to take decisive action to “protect its community and uphold its standards.”
Despite these challenges, Unibot is turning a new page by announcing a proprietary Solana bot in collaboration with a new partner, which will soon be revealed.
This partnership aims to ensure that Unibot users on the Telegram and Unisol-X platforms can continue engaging with the trading bot securely and efficiently, with the promise of SOL reward tokens directly from the Unibot Core Team.
UNIBOT’s price trends to the downside on the daily chart. Source: UNIBOTUSDT on Tradingview Unibot Announces Billion-Dollar Milestone And New User-Centric Features The shift comes at a time of notable achievement for Unibot, having crossed an impressive $1 billion in lifetime trading volume. This milestone, coupled with a daily record of $20 million in volume and an active user base of 10,000, underscores the vibrant growth and potential of Unibot’s platform.
The team is also exploring innovative features to enhance user experience, including trading directly through Telegram for fast transactions, integrating leveraged trades with decentralized exchanges, and expanding trading strategies through options.
As the project embarks on this new chapter, the focus remains squarely on fostering a secure and empowering user environment. With an eye on the future, the Unibot team is committed to “pioneering the next wave of trading bot technology,” guided by the values that have always set them apart.
For those new to the platform or seeking to deepen their engagement, Unibot offers a wealth of resources to get started and maximize their trading experience. According to a community member speaking about the project:
UNIBOT is a pretty incredible invention. Trading with MM (market makers) or a ledger is slow and clunky. Trading directly through telegram is great for fast swaps, scalps, etc. Some things that would blow Team Unibot out of the water…
Cover image from Dall-E, chart from Tradingview
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Unibot’s native token fell past $50 today.Conflict has broken out between the popular Telegram bot’s Ethereum and Solana developers.Both sides traded accusations of breach of trust.Unibot’s token fell more than 40% today as news emerged of infighting between its Ethereum and Solana developers of the popular Telegram trading bot with over $1.1 billion in volume.
Unibot’s Ethereum developers said they had ended their collaboration with their Solana counterparts, accusing them of reneging on previous agreements.
The Solana group confirmed the split, announcing plans to rebrand from Unibot’s Ethereum team.
Unibot is a Telegram trading bot on both Ethereum and Solana. It first emerged on the Ethereum mainnet last May, followed by a Solana deployment in January.
Unibot users, especially those who use the Solana-based iteration, now find themselves in the lurch.
Today’s split is the latest problem to rock Unibot, which was previously hacked for $5.6 million last year. These problems have contributed to the project falling further behind its major rival, Banana Gun bot.
Unibot and Banana Gun bot belong to a class of projects that allow crypto users to trade tokens using only a few simple commands on Telegram.
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Unibot token slumps below $50 amid in-fighting between project teamsTelegram bots have evolved into a crypto niche in their own right and boast a $1.6 billion market capitalisation, according to Coingecko.
Apart from trading, several bots also share revenue with users, and some of them help traders automate airdrop farming activities.
Unibot developers lance accusationsThe Ethereum developers behind Unibot accused the Solana group of a breach of trust because the latter also launched a version of the bot on the Blast blockchain without its approval. Blast is a layer-two blockchain built by the same team behind the NFT marketplace Blur.
Unibot’s Ethereum developers accused its Solana counterparts of refusing to undergo the KYC identification process, too.
As such, the Unibot Ethereum team demanded the Solana group change its name which is currently Unibot on Solana.
Following the split, the Unibot Ethereum developers launched a Unisol X frontend for users on Solana as an alternative to the Unibot on Solana bot. They decided to launch a second front because they are no longer working with the Solana group.
Responding to Unibot’s accusations, Reethmos, the pseudonymous Unibot on Solana builder, said the split would not affect its users.
Unibot has earned over $53 million in revenue since inception. (whale_hunter/Dune/whale_hunter/Dune)
Reethmos countered Unibot’s statement and accused the Ethereum developers of engineering the split because the Solana team blocked their access to the bot’s revenue.
“They farmed $30 million from tax farming but apparently it wasn’t enough,” Reethmos said on X, formerly Twitter. Tax farming is the practice of levying fees on token swaps, and Unibot’s Ethereum developers earn 40% of the tax imposed on trading the token.
Unibot generates revenue across all chains, which is shared among token holders. To qualify for the revenue share, holders must hold at least 10 Unibot tokens.
Of the $53 million in cumulative revenue the bot has generated, $48.2 million has been realised on the Ethereum deployment.
Osato Avan-Nomayo is our Nigeria-based DeFi correspondent. He covers DeFi and tech. To share tips or information about stories, please contact him at [email protected].
Bitbot has generated FOMO due to its self-custodial features. The project runs a $100,000 airdrop with $1,000 rewards. $BITBOT carries a 100x potential amid presale frenzy and unique strengths. Crypto trading on Telegram bots gathered phase in 2023. This came after the launch of popular tokens such as Banana Gun and Unibot. Both saw unprecedented gains, cementing the status of Telegram bots as an unstoppable crypto phenomenon. Bitbot launches when this frenzy is still alive while guaranteeing added security advantages. This has created a frenzy for the token, with the presale raising more than $1.16 million through stage 6. Consequently, Bitbot has been labelled a 100x token amid its self-custodial features. Let’s investigate more about this token.
Bitbot generates FOMO: What is its unique value proposition? The key to Bitbot’s popularity is intense speculation. This is the first Telegram trading bot project offering self-custodial features. But what does this mean?
Trading on Telegram trading bots has been beset with controversy. The exploits of leading projects such as Unibot and Banana Gun showed how less protected investors are. This has been caused by the fact that these projects are custodial. They hold users’ private keys and assets, exposing them to potential losses if their accounts are compromised.
With self-custodial features, Bitbot allows users complete control over their assets. Users control their private keys, meaning no one can steal their assets if the platforms are exploited. This is an advantage to users seeking greater control and peace of mind when trading on Telegram trading bots.
Owing to the self-custodial features, Bitbot has generated a frenzy that the token could explode when listed. Similar price trends have been recorded in other Telegram trading bots launched earlier. As such, Bitbot’s superior strengths could fuel higher price movements and return more to investors.
In addition to being self-custodial, the project is attractive with its enhanced security mechanisms. The wallet is secured by KnightSafe security protocols for institutional-grade reinforcement. There are other safety enhancements, such as anti-rug features.
The all-around protections have created an expectation that $BITBOT is a huge potential token. The frenzy is underlined by the rapid presale and token predictions, which are as high as 100x.
Bitbot: Profitable token with up to $100K airdrops and 50% revenue shares The number of followers on Bitbot’s socials has grown rapidly, thanks to profitable offers. An example is Twitter, which has over 114,000 followers. The attraction has been due to the profitable opportunities posted on the platforms. The notable one is the $100,000 airdrop that has attracted fans.
The competition is open to all fans globally. Winners stand a chance to walk away with $1,000 worth of Bitbot tokens from a $100,000 prize pool.
The prelaunch offer is ongoing, with users needing to act on Bitbot to win odds. One just needs to participate in Bitbot, share about the project, subscribe to its mailing list, and more. Winners will be rewarded right before the project kicks off.
Bitbot is also a source of long-term passive income generation. Token holders get a share of 50% of transaction fee revenue generated from the platform. Aside from enjoying seamless trading through an app, one grows their investment over time. The unique advantage over rivals makes Bitbot a very attractive trading platform. This generates value for the token, unlocking its future potential.
Can $BITBOT rise by 100x? Telegram trading bots represent the future of trading, and statistics back this up. The sector has witnessed over $13.6 million in cumulative trading volumes. This is an advantage to the Bitbot token, debuting when a market frenzy unfolds. As such, the debut could be met with wild price movements.
Whether $BITBOT can rise 100x is speculative. However, rival tokens, which carry lesser superior features, have risen by approximately similar margins. As such, $BITBOT carries the potential to claim a 100x gain. A robust presale and speculation cement the token’s status as a potential big gainer.
To purchase $BITBOT while on presale, investors can visit the project’s website page.
