Crypto Quill

Unibot, a trading application that allows users to trade tokens on Uniswap via Telegram or a terminal, has recently announced a new token on the Solana blockchain that will share revenue with its existing token holders on Ethereum. This move, which initially sparked some controversy and volatility in the market, is expected to boost the value of both tokens and attract more users to the platform.

Unibot’s Expansion to Solana

Unibot launched on the Ethereum network in May 2023, offering a convenient and user-friendly way to access the popular decentralized exchange Uniswap. Users can connect their wallets to Unibot and trade any token on Uniswap by sending commands on Telegram or a terminal, without having to use a web browser or a graphical user interface.

Unibot also introduced its own native token, UNIBOT, which is used to pay for fees and access premium features on the platform. UNIBOT holders also receive a portion of the fees generated by the platform, which are paid in ether (ETH).

In late December 2023, Unibot expanded to the Solana ecosystem, a fast and scalable blockchain that supports low-cost and high-performance transactions. Unibot integrated with Serum, a decentralized exchange built on Solana, and enabled users to trade any token on Serum via Telegram or a terminal, using the same interface and commands as on Uniswap.

Unibot also announced that it would issue a new token on Solana, called UNISOL, which would accrue revenue in the form of Solana’s native token, SOL. UNISOL holders would also enjoy the same benefits as UNIBOT holders, such as fee discounts and premium features.

Unibot’s Revenue Sharing Model

The announcement of UNISOL caused some confusion and concern among UNIBOT holders, who feared that the new token would dilute the value and utility of the original token. Some UNIBOT holders sold their tokens, causing a sharp drop in the price.

However, Unibot clarified its revenue sharing model on X, a social media platform, and reassured its loyal supporters that UNISOL would not harm UNIBOT, but rather enhance it. Unibot explained that the revenue generated by the platform on both Ethereum and Solana would be split 50/50 between two pools:

• Pool #1: This pool is for UNIBOT holders on Ethereum, who do not need to do anything to receive their share of the revenue. They just need to link their Ethereum address, which holds UNIBOT, to a Solana address that receives revenue in the form of SOL.
• Pool #2: This pool is for UNISOL holders on Solana, who also receive revenue in the form of SOL.

Unibot also revealed that UNIBOT holders would receive 80% of the total supply of UNISOL through a snapshot and claim mechanism, giving them an opportunity to participate in both ecosystems and benefit from both tokens.

Unibot’s Growth and Performance

Unibot’s expansion to Solana has been a success, as the platform has attracted more than 20,000 users and generated more than $130 million in total volume since its launch in early January 2024. Unibot has also paid out more than 11,700 ETH in fees to UNIBOT holders since May 2023, and more than 41,000 users have joined the platform as of Monday.

Unibot’s average daily volume is above $5.5 million, which is impressive considering that it is competing with the market-leading DEX Uniswap, which has a daily volume of around $900 million. Unibot’s unique selling point is its ease of use and accessibility, as users can trade tokens on any device and any platform that supports Telegram or a terminal.

Unibot’s token prices have also recovered from the initial sell-off, as UNIBOT is up 21% in the past 24 hours, according to DEXTools data. UNISOL is expected to launch soon, and Unibot’s team is confident that it will create more value and demand for both tokens and the platform.