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CEO Update — April 2021

April has brought many new developments to the UpBots platform and community. Our CEO Ben has returned with the full monthly report.

UpBots has seen a jump in user base growth, a new token ATH, and even new algo bots ready to be rented. The team has also kicked off phase 1 of our launch and with that comes lots of new tools all deployed and ready for usage.

For those who would rather listen to Ben talk through the latest statistics and updates, with the sexiest of French accents of course, then watch the video version of the CEO update below.

Growth statistics

  1. >4900 current users (+65%)
  2. Avg. of 69 new accounts per day (+151%)
  3. $2.58M TLV in staking pool (in UBXT)
  4. $29.3M UBXT market cap
  5. $0.105 UXBT token ATH
  6. $0.085 Current price as of April 27th (+39%)

Our user base has experienced a +65% increase, with a current total of over 4900 users on UpBots. It’s great to see this increase in the number of our users.

Since the beginning of the curve, around August/September, we’ve had steady upticks in the number of individuals on UpBots.

While the graph shows us being super close to 5000 users, as of 29/4/21, UpBots now has officially hit over 5000 users. This announcement was made official via Ben’s and the official UpBots’ Twitter accounts.

Marketing Updates

The marketing team has been working super hard to get the word out about UpBots and all its amazing features. Here are some of the results.

New UBXT listings

UBXT has been added to several new online crypto resources. These websites provide in-depth analytics and insights for various cryptocurrencies, and UBXT is now among them.

Battalion

Members of the UpBots Battalion doubled in size during the month of April to a total of 66. To join the UpBots Battalion one must demonstrate a passion for the project and a willingness to spread the word of the benefits UpBots brings.

So far Battalion members have helped contribute to a massive impact on social networks aiding us in achieving an increase in channel growth and new subscribers.

If you wish to join the Battalion then be sure to contact Neil for more details.

eStore

An UpBots online merch store has been launched with a long line of exclusive swag. T-shirts, phone cases, bags, and much more are available for those looking to rep the UpBots brand.

Check out the marketplace and see what’s in stock.

NFT Hunt

This month marked the first of our monthly NFT hunt where participants have a chance to win an exclusive UpBots NFT collectible. 175 entered the competition, however, only 19 made it to the very end.

76 people obtained at least 1 hunt point during the event. Currently, the competition has moved to a “sudden death” round where the winner will be determined in a rock-paper-scissors contest.

A new, unique NFT will be up for grabs every month. If you want to register for next month’s event for a chance at winning, you can do so on our registration page.

IT Updates

Several new features and optimizations have been pushed to live on the platform during this month. Overall, perhaps the biggest step we’ve taken during this month was executing phase 1 of our launch plan.

Staking pools — ETH/BSC

Users can now begin staking UBXT right on the UpBots platform and earn awesome rewards while doing so. UBXT and UBXT LP staking pools are available for ETH while a UBXT LP staking pool is available for BSC.

ETH staking pool rewards

  • UBXT staking pool: 4.4/block
  • UBXT LP pool: 2.2/block

BSC staking pool rewards

  • UBXT LP pool (PancakeSwap): 0.75/block

ETH/BSC Bridge

A bridge allowing users to swap tokens between the ETH and BSC blockchains has been added to the interface. For those who wish to send a token from one blockchain to the other, you can do so conveniently from your UpBots account.

UX/UI Improvements

Several optimizations and additions to various dashboard pages have been made:

  • Improvements to wallet flow
  • Homepage — listings, widgets, and more detailed info
  • Staking improvements
  • New design for algo bot pages
  • More detailed info displays for algo bots (MDD, graphs, etc)

New bots

Three new trading algo bots are available under algo rentals. They are part of the “I-Robot” line and can trade BTC, ETH, and BNB. Additionally they were developed by a community member and the team has reported that these algorithms are quite powerful after testing them.

The bots are currently free if you stake 10,000 UBXT in the staking pool on ETH. Note: 25% performance fees take effect after UpBots launch.

Merch store

Our development team also played a major role in the deployment of our online merchandise store. As part of our partnership with Printful, we worked to successfully launch the website.

Performance fees

Development on performance fees has made a lot of progress this month. While the team ensures it’s ready for to be deployed and continue to make tweaks, so far the following has been done:

  • Individual wallets for users
  • Backend performance fees system developed
  • Development on the virtual credits
  • Bot allocation system
  • Performance fees pool creation
  • My UBXT wallet page
  • UX/UI interface adaptation to add performance fees

Launch: phase 1

The progress and released features mentioned above were part of what was released during phase 1 of our launching plan. With this first step out of the way, we have two more phases to complete. Below is a summary of the three stage plan.

Phase 1: Adaptation of the UX/UI + testing of the system internally

Phase 2: Closed testing of the system by beta users, Battalion members, and influencers

Phase 3: Full opening of the platform to the general public

Coming soon (what can be said)

Here’s a glimpse at what is coming soon to UpBots.

Performance fees system

  • We’re planning for performance fees to go live during phase 3. The timing will depend on the testing results in phases 1 & 2 but this is the goal we’re shooting for.

Bot creator

  • Simple strategies can be linked to TradingView alerts
  • Back-end development is completed
  • Front-end development is still ongoing
  • Connection to the engine is completed
  • Info & statistics are being implemented

Refactoring front-end

  • Refactoring and design v1.0 is ongoing (65% complete)

Others

  • User experience improvement is ongoing
  • KuCoin exchange implementation (manual + bot trading) are launching soon
  • Manual trading for FTX is ready to launch
  • The structure has begun for the UpBots mobile app
  • OkEx exchange implementation (manual + bot trading) is ongoing
  • Planning for social copy trading is underway
  • Yield farming pool is ongoing

50% is not enough?

There has been some discussion that the planned token burn of 50% of our total supply of UBXT is not enough. The overall objective of this plan is to have scarcity on the market which should raise up the value.

We’ll be adding a new burning program to burn even more tokens. Along with burning tokens from perf fees and UpBots’ company profits, we’ll look to also burn from stablecoin farming. Adding the burn for yield farming pools allows UpBots to venture into an additional way to earn revenue.

We initially planned to have the burning program aim to burn 50% of the circulating supply of UBXT. With the addition of the stablecoin farming pool, after reaching 50% of the total supply, the pool would no longer function. To remedy this we removed limitations on the amount of UBXT that can be burned to allow the stablecoin farming pool to work.

Is it possible to burn all of the UBXT? Due to laws of mathematics, it’s impossible to burn the entire supply as we are burning a percentage of the remaining UBXT.

The end goal of the burn programs is to have accelerated burning to begin with. Buying pressure for UBXT will be generated by the pool as it will also burn the supply for years to come.

From perf fees: Up to 18.5% of perf fees collected will be burned. Once 50% of the total supply is burned, these fees are sent to the performance fee profit pool.

UpBots net income: A percentage of the profit generated by UpBots will be used to buy back tokens from the market for burning. This is planned to start in Q4 2021 and end in Q4 2024.

Yield farming pools: Currently yield farming pool token burns are in their analyzing phase and figures may change. The creation of yield farming pools on UpBots will allow for

  1. Used as farming for deposited Stablecoins
  2. Optimization strategies
  3. 90% of the tokens used to buy UBXT on the market are redistributed to stakers
  4. 5% is added to the UBXT/BUSD liquidity pool
  5. 5% of the tokens are burned
  6. Stablecoin farming will take place on other interfaces (Venus, BSC, etc)

That’s a wrap! Hope you found out all you needed to know about what happened with UpBots in April. Now get ready for phase 3 of the launch because we’re going to have a lot to show.

And now a meme from our community…

Have a question regarding the UpBots platform or our algo bots? Come join our Discord server!

Want to receive the latest UpBots company news and updates? Come join our Telegram channel!

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Trade your capital in Crypto Currency, DeFi solutions, Forex & Commodities, manually or with bots, through UpBots, the Swiss all-in-one trading eco-system.

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