Unibot (UNIBOT) is an innovative Telegram trading bot that enables users to trade cryptocurrencies directly within the Telegram app. Launched in 2023, it introduced the concept of Leveraged Liquidity Provision (LLP) to address common challenges faced by liquidity providers on Uniswap V3. This guide covers how Unibot works, its native token UNIBOT, and its unique features.
How Unibot Works
Unibot operates as a trading bot on Telegram, allowing users to execute trades without leaving the messaging app. It connects to Uniswap V2 and V3, leveraging smart contracts to facilitate quick and efficient transactions. Users can buy, sell, or swap Ethereum-based tokens by specifying the token pairs and the amount of ETH they wish to spend. The bot processes these requests within seconds.
The LLP model is a standout feature. Instead of requiring users to provide two tokens for liquidity pools, they can supply one token and borrow the other from the pool. This creates a hedging effect, reducing risk and enhancing capital efficiency for liquidity providers.
Key Components
- Telegram Integration: Unibot runs entirely within Telegram, making it accessible and user-friendly.
- Smart Contracts: It uses automated contracts to execute trades and manage liquidity.
- User Commands: Users interact with the bot through simple text commands, specifying trade details.
UNIBOT Token Overview
The UNIBOT token is the native cryptocurrency of the Unibot ecosystem. It has a fixed maximum supply of 1 million tokens, all of which are in circulation. A daily burn rate of 0.1% helps manage supply dynamics.
Token Utility
UNIBOT holders enjoy several benefits, including:
- Revenue Sharing: Users holding 10 or more UNIBOT tokens receive a share of the platform’s revenue, paid in ETH. This includes 40% of bot transaction fees and 2% of UNIBOT trading volume. Rewards are auto-compounded by default, converting ETH earnings into more UNIBOT tokens.
- Loyalty Program: Trading fees are reduced based on the number of tokens held and trading volume. Discounts range from 10% to 50%, incentivizing long-term holding.
- Governance: Token holders may participate in decision-making processes related to platform upgrades.
Unibot vs. Uniswap
Uniswap is a decentralized exchange (DEX) using an Automated Market Maker (AMM) model, where users trade against liquidity pools. Unibot complements Uniswap by providing a streamlined trading interface via Telegram. It enhances the user experience with tools designed for efficiency, such as quick trade execution and advanced liquidity management.
While Uniswap requires users to interact directly with its interface, Unibot automates the process, making it ideal for traders seeking convenience without sacrificing functionality.
How to Trade UNIBOT
UNIBOT is listed on several cryptocurrency exchanges, including major platforms. Users can purchase it using fiat currencies like USD, EUR, or GBP, or trade it against other cryptocurrencies. It is also supported on decentralized exchanges for those preferring self-custody.
To start trading, create an account on a supported exchange, deposit funds, and execute buy or sell orders. Always store tokens securely in a private wallet if not actively trading.
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Frequently Asked Questions
What is Unibot?
Unibot is a Telegram-based trading bot that allows users to trade cryptocurrencies on Uniswap without leaving the Telegram app. It features Leveraged Liquidity Provision (LLP) for efficient liquidity management.
How does revenue sharing work?
Holders of 10 or more UNIBOT tokens receive a portion of platform revenue paid in ETH. Rewards are auto-compounded by default, meaning ETH earnings are converted into additional UNIBOT tokens.
Is Unibot safe to use?
Unibot uses smart contracts audited for security. However, users should always conduct their research, use secure wallets, and be cautious when granting permissions to bots or dApps.
Can I reduce trading fees with UNIBOT?
Yes, the loyalty program reduces fees based on the number of tokens held and trading volume. Discounts can range from 10% to 50%.
What is the total supply of UNIBOT?
The maximum supply is 1 million tokens, with a daily burn rate of 0.1% to control inflation.
Does Unibot support tokens outside Ethereum?
Currently, Unibot focuses on Ethereum-based tokens, but future updates may expand to other blockchains.
Conclusion
Unibot offers a novel approach to cryptocurrency trading by integrating seamlessly with Telegram and introducing innovative features like Leveraged Liquidity Provision. Its native token, UNIBOT, provides holders with revenue sharing and fee discounts, creating a compelling ecosystem for traders. As with any financial tool, users should perform due diligence and understand the risks involved in trading and providing liquidity.
Unibot’s convenience and unique value proposition make it a noteworthy option for those familiar with Telegram and decentralized finance. 👉 Learn more about liquidity provision