Unibot Drives Token Value Higher by Distributing 80% of Solana-based

Hassan Shittu

Last updated:

January 28, 2024 8:55 PM EST
| 3 min read






































Source / Sam Cooling x Unibot

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, which initially met criticism from long-time UNIBOT holders, is intended to accrue value back to the holders of the original Ethereum-based UNIBOT tokens.







Unibot is a trading tool built within Telegram that allows users to execute on-chain token trading activities on Uniswap through conversations on the messaging platform. The bot offers features such as token swapping, copy trading, limit orders, privacy trading, and real-time alerts for new Ethereum tokens.

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.

However, developers reassured the community on Monday 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.

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.

UNISOL 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.

Users can interact with Unibot directly on Telegram, streamlining the process of making token trades without switching between social and decentralized finance (DeFi) applications. Unibot charges transaction fees ranging from 0.5% to 1.5% for each transaction, with 80% of its income generated from these token trading taxes.

Since its launch in early January, Unibot has attracted over 20,000 users, generating more than $130 million in total volume, according to developers. The platform’s user…

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