Weekly Updates: DeFi flash loans, and yield farming
Get pumped! There is another UpBots weekly update ploughing your way right now!
Hope you’re amped up and ecstatic to hear what has been going on behind the scenes at UpBots HQ! Easy on the energy drinks there Brian.
Are you curious about what flash loans and yield farming are in DeFi? Then have no fear because we’ve got TWO new articles that tackle both topics. Yep! That’s one for each of them!
And of course, we’re providing you with plenty of bite-sized scrumptious platform updates.
Let’s kick things off!
Introduction to DeFi Flash Loans
The world of DeFi never ceases to amaze us with its innovations to bring decentralization to finance. Using DeFi platforms certainly has its perks and DeFi flash loans are just one of the many.
Flash loans don’t involve your everyday slow as molasses loan application with your neighbourhood bank. Considering these loans possess DeFi superpowers, they can be applied for, received, and paid off all in one transaction!
Discover more about the speedy world of flash loans on the UpBots blog.
A guide into yield farming
Ever dreamed of owning a big piece of land to plant and grow your own crops? Well while there isn’t any actual manual labour or food growing involved in DeFi yield farming, it can certainly help you grow your crypto earnings!
Yield farming is all about supplying liquidity to decentralized exchanges for some sweet APY returns on your lent crypto. Liquidity providers are constantly on the chase for the best interest rates offered by DEXs in order to maximize the growth of their earnings.
If you’re eager to learn more about yield farming then come give this article a read.
Platform Updates
Manual trade basic prepares for launch!
Manual trade basic is preparing for launch as the team conducts tests to ensure it’s working at its absolute best. We want to be certain it works across both desktop and mobile platforms so users can begin using it upon release without any issues.
Upon release, users can submit buy and sell orders for the Binance exchange using this feature. There will also be a “My Orders” tab where you can view the history and status of your trading orders.
If you’re looking to convert one crypto to another or just quickly grab some coins you’ve had your eye on, then these are some cases that manual trading will make more efficient on our platform.
The launch is coming soon so be sure to keep an eye out for more updates.
UBXT wallet testing continues
Tests continue for the UBXT wallet to ensure it’s functional. This is a critical system for UpBots and is one of the most complex areas of our platform to build.
A small adjustment to the gas fee calculation was made to improve the accuracy of the displayed transaction cost. Once released, the UBXT wallet will allow users to store and manage the UBXT tokens they wish to allocate for payment of UpBots Performance Fees.
More updates will be sure to come as testing progresses.
Portfolio monitoring updates coming
Further improvements to the portfolio monitoring dashboard have been made. These include speed improvements to the pages and a fix on the portfolio evolution chart. In addition, we are adding compatibility for users to view data insights for FTX subaccounts.
Last week we launched the first iteration of our decentralised portfolio monitoring dashboard. Relentlessly, the team are now working to implement views of all allocated capital in liquidity pools and other DEX services on platforms such as Curve, Aave, Uniswap, and others.
FTX algo bots on their way
Those juicy algo bots that you can use for free right now on Binance? Feedback says that many users would like to fire those bad boys up on FTX, so we are working to make this happen and this is the next feature to be launched on the algo bots developers.
Development and testing for algo trading bot support on FTX is progressing and those bots should land shiny and more ready for action than Sylvester Stallone in a Rambo movie.
UpBots DAO news
We’re preparing to begin our transition towards becoming a DAO and we all couldn’t be more excited.
Work on the DAO and UBXG governance token is well underway. The UBXG token will grant users voting rights on the UpBots DAO once the transition is complete.
Also at some point in the near future we will be dropping a bag of UBXG into the laps of our UBXT holders, so if you want some UBXG (for free), you should go grab some UBXT — (not financial advice).
Expect to see more DAO news and discussion from us in the coming weeks.
That’s a wrap for this update! We’ll be seeing you all next week!
And now a meme from our community…
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