Weekly updates: ETH portfolios, crypto passive income, and impermanent losses
Ya’ll know what time it is? It’s UpBots weekly update time! So gather around and get ready for your weekly dose of the latest UpBots news.
Since Valentine’s Day is just around the corner, we wanted to give you all a new feature as a sweet little gift. Go to your UpBots dashboard, click on portfolio tracking, and…SURPRISE! ETH portfolio tracking is now available.
Powered by Covalent, our ETH portfolio dashboard provides users with a complete overview of their capital in the DeFi space. Find out more about ETH portfolio tracking in the Platform Developments section below.
Along with our new feature, we’ve also got two new articles to toss your way.
Have you ever encountered an impermanent loss in a liquidity pool? If you never have, or have no idea what that is, then you’ll definitely want to give this a read to familiarize yourself!
You’ve probably heard one too many talks about building passive income, mainly from those influencers who stand in front of a Lambo while saying how you can “be just like them”. Well, we’d like to introduce you to a cooler way to establish a passive income stream, through the power of cryptocurrency.
Crypto passive revenue: Staking vs algo trading bots
Creating passive revenue streams for yourself can open doors to some sweet monetary benefits, like having a little extra dough on hand for your favourite cookie dough ice cream.
There are several ways you can establish such revenue in crypto, two being staking and using algo bots to trade on crypto exchanges. While both have great benefits, they do come with their fair shares of cons.
If you’re looking to create passive revenue with crypto then give this article a read to judge which may be best for you.
What are impermanent losses in DeFi?
In the realms of crypto and DeFi, it’s inevitable that traders and investors will encounter capital losses at some point.
However, impermanent losses are a different story. This type of loss occurs in DeFi liquidity pools and can cause severe capital losses for liquidity providers.
Read more on what impermanent losses are, how they occur, and what measures you can take to protect yourself from them.
Platform Development
DeFi portfolio monitoring is now LIVE!
The moment you’ve been waiting for has finally arrived! Users can now hook up their ETH wallets (Metamask only at this moment) and view data pertaining to their portfolio’s total assets, debts, and net worth, all within UpBots.
Other features include views of portfolio distribution amounts and an evolution chart of your assets. These will provide you with a deeper look into the capital allocation and growth of your assets.
Tweaks are still being made to the displayed data for assets held on DeFi platforms such as Aave, Compound, Uniswap, and Curve. Once adjusted and live users can view their liquidity pools, DeFi tokens, stakings, and other related info.
Jump into your UpBots account and start trying it out now. You can also read more about this feature on our blog.
FTX algo bots enter their testing phase
Support for the FTX exchange by our algo trading bots has entered it’s testing phase. Considering FTX is a super hot exchange, as well as being a partner, and supporter of the project, we are excited for our users to leverage UpBots algo bots to trade there.
Adding FTX will also extend our line of available crypto exchanges that the bots are able to trade on. More information is to come about this integration as our Dev Team progress through testing.
Manual trade basic testing continues
Manual trading is currently still in its testing phase but is making great progress. The team has tested market and limit orders on Binance using it and has seen good results thus far.
In addition, an order page is being implemented which will allow users to track all their orders along with the current status of said orders. More info on the manual trade feature is still to come as we get closer to launching.
UBXT wallet still being tested
The UBXT wallet has made great progress and the team is continuing to test it to ensure it’s truly ready for launch. At this time, the main features of the wallet allow users to store, manage and send UBXT to and from it.
More info about the wallet’s launch is still to come. Stay tuned for more info in the coming weeks.
New dashboard layout coming soon
Completely separately from the works being done by our core dev team we have a UX/UI designer who has already begun to improve the look, feel and usability of our initial platform design based on user feedback and test data.
Support for light and dark modes is coming which will allow users to toggle between the two as they prefer. These new designs will certainly give a “sharper” look, and an enhanced experience to our platform feature set.
Along with the new designs for our interface, the processing speed for portfolio monitoring is also being improved. These adjustments will bring faster loading times when users view portfolio data in this section.
And now a meme from our community…
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