Unibot is an emerging trading robot project that simplifies the trading process of decentralized exchanges (DEX) with its unique use cases and innovative ways. This article will analyze various aspects of Unibot in detail to help you understand the potential and future development direction of this project.
Project Overview
Unibot is a robot that automates DEX trading through the Telegram application. It provides a series of features that make the trading experience on Uniswap more concise and efficient:
Clearer user interface
MEV protection
Reduce the risk of transaction failure
Faster transaction speed (6 times faster than Uniswap)
These features make Unibot an important innovation in the field of crypto trading.
Real use cases
If you have ever used Uniswap, you will know that its user experience is not ideal. Telegram trading robots are all the rage in the crypto community because they provide a simpler and faster way to trade, especially for new users. Unibot has the following advantages:
Faster transactions
Improved user experience
Easier to use for new users
Security (MEV-proof and RUG-proof)
This makes Unibot the tool of choice for many users and investors.
User Adoption
Unibot has dominated the market and currently holds about 71% of the market share. Since its launch in May 2023, Unibot's user base has continued to grow, and now the daily active users have stabilized at 1,500, and the cumulative users have just exceeded 10,000. This growth trend shows that Telegram robots will help more users and investors enter the Web3 space.
Project Revenue
Unibot distributes revenue shares to coin holders through its protocol. As long as you hold at least 10 $UNIBOT tokens, you will receive ETH rewards (no staking or lock-up required). The income distributed to token holders includes:
40% of all bot transaction fees
1% of UNIBOT transaction volume (2% for those who participated in the token migration before September)
According to DeFi Llama, Unibot ranks 26th in revenue among all protocols and continues to generate $40,000 in revenue per day.
Economic Model
The token economic model of Unibot is quite simple:
Fair launch on May 17, 2023
Issue 1 million tokens and fully circulate
A 5% tax on each $UNIBOT transaction (1% goes to LP, 1-2% is returned to token holders, and 2% is given to the team)
Here are the current token supply data:
Circulating and maximum supply = 1 million
Market value = $200 million
FDV = $200 million
Market value / FDV = 1
The largest wallet only holds 2.46% of the total tokens (24.7k UNIBOT = $4.7 million).
Community and Governance
While there is no formal decentralized governance forum, as long as you hold 10 UNIBOT tokens, you can access Unibot's private Telegram holder channel. Here are some social and user data related to Unibot:
Twitter - 31,600 followers
Telegram - 8,700 people
Unique users - 10,300
Team and Funding
Unibot was "fairly launched" in May 2023, but there is very limited information about the anonymous team that founded the project. The project recently migrated from V1 to V2 (token economic model upgrade, adding the original tokens used for destruction to its liquidity pool), and the vote in the holder Telegram channel passed with 81% (not an official DAO vote).
Competitive Analysis
There are actually quite a few competitors in the field of Telegram robots, among which Maestro has existed the longest, which is why it is ahead of Unibot in transaction fees and cumulative number of users. However, since Unibot was launched, it has been in a dominant position, and now Unibot has occupied about 71% of the market value share of the robot track (data from Coingecko).
My biggest concern about the Telegram trading robot is privacy and the security of the wallet private key. Unibot states in its documentation:
Private keys are encrypted or decrypted using industry-standard symmetric keys (no one can access your keys)
Unlike centralized exchanges, users can access the private keys of the trading wallets generated by Unibot
You can import your keys into Metamask and have full control of the funds in Unibot at any time
Users can always treat the wallet as a hot wallet
Other risks include smart contract vulnerabilities, exploits, and hacker attacks.
Summary: Overall, I am very impressed with Unibot. It has unique use cases and simplifies DEX trading in an innovative way. But it needs to improve in governance, treasury, and provide further clarification on privacy issues. The overall weighted score I think is about 7.4 points, which is my evaluation of the project.