Unibot Introduces Native Solana Token UNISOL
Trading application Unibot has announced the issuance of a native Solana ecosystem token, UNISOL, causing a stir in the market and triggering volatile price action last week. The move is intended to accrue value back to the holders of the original Ethereum-based UNIBOT tokens.
Unibot’s Expansion to Solana Raises Concerns
Unibot expanded its operations to the Solana ecosystem in late December, but introducing the UNISOL token last week raised concerns among UNIBOT holders. Fears of dilution led to a sell-off as traders seemed inclined to favor the newer UNISOL token over the original UNIBOT.
Developers Reassure Community on UNISOL Integration
However, developers reassured the community that UNISOL could enhance UNIBOT’s value accrual, potentially alleviating recent losses as traders factored in new information. Unibot facilitates user wallets’ connection to the decentralized exchange Uniswap, enabling seamless token trading similar to messaging on popular platforms like Telegram or a terminal.
Revenue-Sharing Mechanism for Protocol-Generated Income
Developers explained the revenue-sharing mechanism for protocol-generated income by @UnibotOnSolana, splitting it 50/50 between two pools. The first pool benefits holders of UNIBOT on Ethereum, who link their Ethereum address to a Solana address receiving revenue in SOL. The second pool rewards holders of UNISOL on Solana.
Snapshot and Claim Mechanism for UNIBOT Holders
UNIBOT holders are slated to receive approximately 80% of the UNISOL supply through a snapshot and claim mechanism. Despite the recent sell-off, developers believe this integration could enhance UNIBOT’s value proposition.
Unibot’s User-Friendly Features and Growing User Base
Users can interact with Unibot directly on Telegram, streamlining the process of making token trades without switching between social and decentralized finance (DeFi) applications. Since its launch in early January, Unibot has attracted over 20,000 users, generating more than $130 million in total volume. The platform’s user base has steadily increased, reaching 41,000 on Monday.
Unibot Expands to Solana with Unisol Aiming to Boost Revenues Amid Shift in Memecoin Trading Activity
According to Dune Analytics data, out of the current 3,280 ETH revenue captured by Unibot, 2,843 ETH comes from the UNIBOT token trading tax. On Sunday alone, Unibot generated $74,000 in fees across Solana and Ethereum, with average daily volumes exceeding $5.5 million.
Revenue Model and Rewards for Token Holders
The application’s revenue model revolves around bot trading fees and the trading tax of its native token, UNIBOT. Revenues generated by Unibot are shared with token holders who possess at least 10 UNIBOT. Token holders have received over 4,496 ETH in total rewards.
Strategic Expansion to Solana Blockchain
Unibot’s strategic expansion to the Solana blockchain comes amid a booming period for blockchain trading in December. Decentralized exchanges on Solana have become the third-most active among traders. Last summer, Ethereum experienced a similar memecoin frenzy driven by platforms like Unibot and Maestro.
Unibot’s Revenue and Popularity on Solana
During its peak in August, Unibot facilitated over $8 million in daily trading volume through its Telegram interface. However, with a significant portion of memecoin trading activity shifting from Ethereum to Solana, Unibot’s revenue also experienced a decline. Unibot’s eponymous token has surged 85% over the past month.
Hot Take: Unibot Drives Token Value Higher by Distributing 80% of Solana-based UNISOL to UNIBOT Holders
Unibot’s decision to distribute 80% of the Solana-based UNISOL token to UNIBOT holders is aimed at boosting the value of the original tokens. This move comes after concerns were raised about the introduction of UNISOL and fears of dilution among UNIBOT holders. Developers have reassured the community that this integration could enhance UNIBOT’s value proposition. With a user-friendly interface and a growing user base, Unibot has become a popular choice for traders looking for seamless token trading. The strategic expansion to the Solana blockchain aligns with the increasing popularity of Solana among traders. Despite a decline in revenue due to shifting memecoin trading activity, Unibot’s eponymous token has seen significant growth recently.
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