The developers of the UniBot trading platform are planning to launch the UNISOL token on the Solana Network, However, UniBot coin holders will receive the token as a reward for their activity.
We are excited to dive into the vibrant @solana ecosystem. This groundbreaking expansion marks a transformative leap for Unibot, giving users a new and powerful edge while trading on Solana. 🦄🤖
— Unibot (@TeamUnibot) December 28, 2023
As a result of this news, the token has grown by 25% over the past 24 hours.
According to the team’s statement, UNISOL will be the project’s native token on the Solana network. UniBot token holders will receive 80% of the UNISOL supply, and according to the developers, revenues from the protocol will be distributed between two pools. Both UniBot and UNISOL owners will be able to apply for these awards. Not to mention that from May 2023 to January 2024, the company received 11,700 ETH in the form of commission.
Slow, But Steady Growth
The number of users is also showing steady growth. As of Jan. 29, the figure had reached 41,000, up from just over 2,000 at the end of June last year.
It should be noted that the average daily trading volume in the UniBot application is $5.5 million. It is significantly inferior to the decentralized exchange (DEX) Uniswap, whose figures fluctuate around $900 million. We previously reported that the Jupiter platform became the leader in trading volume among DEXs.
Amid the news of the launch of UNISOL, the value of the UniBot token has increased by 25% in the last 24 hours, according to data from DEXTools. At the time of writing, the asset is trading at $65.5.
UniBot Fully Compensated Users Following Hacking Incident
Let us remind you that in October 2023, the cryptocurrency trading bot UniBot was exploited for $600,000. According to available data, the attack on the Telegram bot led to losses of about $600 thousand. An exploit aimed at a recently deployed router contract led to the unauthorized withdrawal of tokens from several hundred wallets. As soon as the attack was discovered, the team quickly took action, including suspending all trading activities associated with the vulnerable contract. Additionally, the network promptly revoked permissions for the problematic tokens to prevent further damage.
UniBot has also committed to working with renowned auditors to improve the security of new features and implement industry best practices to protect users, and now they are relying on Solana network for the upcoming UNISOL project. The company said on X (formerly twitter) “we is coming to Solana with a dedicated bot designed with the user in mind and tailor-made for Solana’s high speed on-chain trading” , and to strengthen user confidence, the team announced the introduction of zero transaction fees for the next ten days. Additionally, starting in November, token holders will receive an increased yield of 3%, up from the previous 2%.