CEO Update — March 2021
The madness of March has come to a close and we’ve got the full report!
UpBots had a fantastic month with lots of new feature additions, platform growth, and marketing plans. We’ve kept our ears open to our community and strived to make changes that will greatly benefit our user base.
If you prefer to digest your information visually then we have the Youtube version of the March CEO update right here. Provided by our very own CEO and Co-Founder Ben, and with a sexy French accent as always.
And now let’s get this wrap-up going!
Facts & Figures
- Avg of 46 new accounts per day
- >3,100 (+82%) accounts with at least 1 wallet linked
- >980 accounts linked to the algo bots
- Token new ATH — $0.085
- Current price (March 25, 2021) +/- 0.055 (+465%)
During this month, UBXT obtained a listing on PancakeSwap. This is our first BSC-based AMM that UBXT is now available on.
We’ve added our liquidity on PancakeSwap and if you are familiar with how Uniswap operates then you’ll see PancakeSwap is quite similar to it.
The main reason why we sought to have UBXT listed on PancakeSwap is mainly due to the transactional fees being much lower.
Currently, UBXT is listed on six exchanges:
If you’d like to add liquidity for UBXT then come check out the PancakeSwap listing here.
Come give our demo platform a spin at demo.upbots.com
Evolution of active users on the UpBots interface
Evolution of capital managed by the Optimus Bots (BTC, ETH, BNB)
We expect to have far more capital managed in the future as more bots are hosted on the rental platform.
UBXT on BSC
The Binance Smart Chain (BSC) is quite similar to the ETH blockchain but with much lower gas fees. This allows for BSC users to enjoy lower transactional costs when using it. Most of the time these fees are lower than $1.
Many projects have moved their token to the BSC due to its tremendous growth in popularity. We’ve decided to join in on this and expand our platform to the BSC.
We’ll be using the BSC on our platform as well with a full integration planned for the coming months. In our collaboration with Multichain.xyz we’ve established a bridge allowing for us to have 1 token but 2 blockchains with 2 token addresses. Be sure to add both contracts to your MetaMask or browser extension account!
For tutorials on adding the contract addresses, making swaps, and more please refer to our guidebook.
As stated before, UBXT liquidity is now available on PancakeSwap. $200k of liquidity is initially added (50/50 UBXT, USDT).
Having UBXT on BSC and the integration of this blockchain has opened up new advantages for our users that were previously more difficult with ETH. Cheaper staking, lower gas fees, and new farming possibilities are just to name a few.
We’ll also be continuing to come up with innovative ways to utilize the BSC to further benefit our users as part of our partnership with them.
UBXG — UBXT: the new plan
Our initial plan was to create a DAO token with decreasing production and no pre-minting with the objective to reward the user for providing liquidity.
Although we created UBXG and create a staking solution, feedback was not very optimistic. Because of this, we’ve decided to stop UBXG and only keep our UBXT token. Instead, we’ll be aiming to have UBXT do what the UBXG should have done.
Staking pools will now be done with UBXT. These pools are currently being tested to ensure they’re secure and ready for usage. DAO features, such as voting, will also be done with UBXT.
We’re striving to offer the best APY possible without impacting the tokenomics of UpBots.
NFT — Community Algos — Marketing
UpBots is rolling out a trader series of collectible NFT cards. We won’t be selling these cards but we will be hosting giveaway contests that our community can participate in.
Our first series will feature 12 amazing cards, with one to be given away each month. Each card is unique and tradable.
There will be news on the first one to be released to stay tuned!
Community algo bots
These bots are brand new and are launching to our interface!
They’ll be free for stakers and are designed for specific coins that have partnered with us. Our first bot launched recently which is our AVAX trading bot.
More bots are to come!
During mid-March, we launched a major multi-channel campaign in collaboration with our partners.
Here are some of the results we’ve witnessed:
- A surge in the number of registrations on UpBots by 82%
- 5x rise in daily trading volume
- Preparation of new partnerships and new communications
As we inch closer to our official launch we are increasing our marketing power!
IT recap & progress
The team has rolled out several new features and updates for the platform which are currently live.
We also have a look into the features that are currently in the pipeline and that you’ll hear more news about soon. Performance fees system and UBXT staking development are currently nearing completion.
Burning of tokens
There are two types of burning that are part of the UpBots token burning program.
50% of what the algo dev or master trader will have collected will be automatically taken by UpBots and burned in a keyless account.
After a trade is completed, the profit generated is directly calculated and the performance fees are deducted.
UpBots net income
A percentage of the profit generated by UpBots will be used to buy back tokens from the market for burning.
The original plan was to burn a percentage of income generated by UpBots that related to profits off of training courses sold, perf fees, and other subscriptions. For Q1 we have not yet generated any net income for the company, so we’ve decided to postpone this burning till Q4 2021.
To avoid having 0% burned in Q1 2021, we’ll aim to burn 15% of generated revenues throughout the year to make up for the time.
Take away in 8 points
- 82% increase in registrations.
- UBXT now available on Binance Smart Chain and listed on PancakeSwap.
- UBXG program stopped. Staking will be done on UBXT only.
- Important marketing campaigns coming including NFT hunt, influencer ads, press releases, and more.
- Community bots are coming and are available to stakers for free.
- Manual trade, ETH portfolio tracker, BSC portfolio tracker, and many more March IT platform developments
- UBXT staking pool, performance fees system, bot activity logs, a new design, new exchanges, community bots, and margin trading are coming soon.
- Token burnings
-First UpBots net income burn postponed to Q4. Aim to maximize the number of tokens to burn. Perf fees burn is NOT postponed and is automatic.
-Once 50% of all tokens are burned, the amount allocated to burn for perf fees will go into the “performance fees pool”.
Hope that you’ve found the March wrap up to be helpful and insightful! We’ll see you next time in April!
And now a meme from our community…
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