Share this article
Unibot Boosts Token Value With Solana Ecosystem Draw
UNIBOT holders are set to receive some 80% of the supply of Solana-based UNISOL through a snapshot and claim mechanism.
Updated Mar 8, 2024, 8:35 p.m. Published Jan 29, 2024, 7:00 a.m.
Make us preferred on Google
Trading application Unibot will issue a native Solana ecosystem token that accrues value back to holders of the original Ethereum-based UNIBOT tokens, a move that initially met with criticism and caused volatile price action last week.
Unibot expanded to the Solana ecosystem in late December but said last week it would introduce a UNISOL token that accrued revenue in the form of Solana’s SOL tokens. The decision created concerns among long-time UNIBOT holders, who feared dilution as traders would be inclined to choose the newer token in favor of the older one. A sell-off ensued.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
But developers said early Monday that UNISOL could ultimately boost UNIBOT’s value accrual, helping ease some losses from the past few days as traders priced in new information. The Unibot platform connects user wallets to the decentralized exchange Uniswap and lets them punt on tokens just as easily as they would send messages to each other on the popular messaging app by using the messaging application Telegram or a terminal.
“The revenue sharing for protocol revenue generated by @UnibotOnSolana is split 50/50 between two pools,” developers posted on X. “Pool #1: simply being a holder of $UNIBOT on Ethereum, no strings attached. You'll link your Ethereum address, which holds $UNIBOT to a Solana address that receives revenue in the form of SOL. Pool #2: holders of $UNISOL on Solana.”
UNIBOT holders are set to receive some 80% of the supply of UNISOL through a snapshot and claim mechanism. Since its early January launch, over 20,000 users have generated more than $130m in total volume, developers claimed Monday.
//ANNOUNCEMENT
— Unibot (@TeamUnibot) January 28, 2024
We'd like to clear the confusion around the path forward.
The revenue sharing for protocol revenue generated by @UnibotOnSolana is split 50/50 between two pools, described as follows.
Pool #1: simply being a holder of $UNIBOT on Ethereum, no strings attached.… pic.twitter.com/vqEVVhG1FI
On-chain data shows Unibot has garnered 11,700 ether in fees since the platform went live in May, paying out a portion of this straight to token holders. Users have also steadily increased, reaching 41,000 on Monday compared to just over 2,000 at the end of last June.
On Sunday alone, the platform generated $74,000 in fees across Solana and Ethereum on $7.5 million in combined volumes.
Per Dune Analytics, Unibot's average daily volumes are just above $5.5 million, a long way from the $900 million daily on the market-leading DEX Uniswap.
UNIBOT prices are up 21% in the past 24 hours, DEXTools data shows.
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
Weaker dollar fails to spur bitcoin gains, but there's a reason for that
Gold and other hard assets are rallying on dollar weakness, but bitcoin is lagging as markets continue to treat it as a liquidity-sensitive risk asset.
What to know:
- Bitcoin has, unusually, not rallied alongside the slide in the U.S. dollar.
- JPMorgan strategists say the dollar’s weakness is being driven by short-term flows and sentiment, not changes in growth or monetary policy expectations, and they expect the currency to stabilize as the U.S. economy strengthens.
- Because markets do not view the current dollar decline as a lasting macro shift, bitcoin is trading more like a liquidity-sensitive risk asset than a reliable dollar hedge, leaving gold and emerging markets as the preferred beneficiaries of dollar diversification.
Top Stories
