FTX announces upcoming IEO ”Upbots” Project Review
Over the last few years, the popularity of cryptocurrencies has increased exponentially, thereby leading to a considerable upsurge in worldwide trading volumes. The reputation of cryptocurrencies as an alternative investment, together with the global remittances and speculative store of value are the main reasons behind recent growth. The multiple use cases brought forward by DeFi projects are also playing an essential role in the current digital currency revolution.
The contemporary trading ecosystem consists of crypto exchanges that are not conducive to the market efficiency providing ample opportunity for arbitrage trading. However, ineffective markets are vulnerable markets. With the influx of new traders, many of whom have no experience, the demand for practical trading advice and guidance is booming.
Veteran crypto traders do not have an incentive to provide any real advice for newcomers. Signals and other specific trading calls are discouraged, as traders risk being labelled of shilling coins for their benefit. Worse, they might attract the attention of particular authorities for promoting investment advice.
The final result, new traders enter a highly competitive environment with no prospect for success against battle-hardened trading veterans. With so much to learn about risk management, trading strategies, market fundamentals, and analysis methodologies, new traders find themselves in a peculiar situation.
They must choose between risky, but decisive action, or dutiful and patient learning. Both are equally damaging to a trader’s bottom line either because of negligence, ignorance or inaction.
UpBots aims to lower the entry threshold for new cryptocurrency and forex traders by creating a beginner-friendly and all-inclusive trading interface. UpBots will serve as a blockchain-based platform that facilitates smart trading decisions through the usage of bots and other advanced systems. Furthermore, this platform also offers advanced solutions designed for experienced traders and provides them incentives to teach others.
Inside UpBots’ feature catalogue
UpBots is designed to simplify trading for new users while providing enthusiasts with an advanced interface capable of generating increased returns. As an all-inclusive platform, it only makes sense that UpBots features a series of sophisticated trading tools.
Here’s a brief overview:
- Anadvanced blockchain-based trading platform that’s fully compatible with desktop and mobile devices
- A secure cross-platform digital currency wallet for storing assets
- Simultaneous support for both decentralised and centralised cryptocurrency exchanges (DEX and CEX)
- Deployment of commission-based automated trading bots that take care of trading on users’ behalf
- A bot creator interface where users can create their customisable trading algorithms using the built-in tools
- The ability to borrow, lend, and stake crypto-based assets with DeFi protocols
- An assortment of easily accessible advanced trading tools
- A fully-fledged knowledge base for beginners that contains information required to become a professional trader
- A marketplace featuring crypto signal providers that actively provide trading tips and unveil hidden opportunities
- A series of risk management tools that encourage wealth preservation alongside smart trading decisions
- Follow the industry’s best traders with UpBots’ copy-trading capabilities designed for novice and busy users
As such, there is practically no trading feature that UpBots is missing. With a customisable interface, each user can treat the platform as their trading concierge.
Testing has shown that the platform’s bots can be trained to carry out complex trades, based on user interests and the current sentiment of the crypto market. Bots facilitate 24/7 trading, which is a goal that no human can hope to accomplish.
Market analysis has shown that small-scale, regulated, and continuous buy/sell orders placed by bots can mirror the potential profitability of human day trading. It is believed that UpBots will quicken the development and deployment of innovative trading bots that can potentially eliminate users’ need to carry out technical analysis of charts and market trends constantly.
UpBots’ Training Marketplace
Since UpBots strives to lower the trading market entry barrier, novice and even advanced users will be able to leverage the platform’s comprehensive knowledge base. A plethora of courses will be provided thanks to a BrainFeed partnership. Some of the main purchasable training modules include resources about trading, money management, financial economics, technical analysis, cryptocurrencies, blockchain, bot development, smart contract deployment, fundamental analysis, and more.
The UBXT Token Ecosystem
The platform believes that a utility token is essential when it comes down to ensuring secure usage, transparency and trust. Thus, UBXT represents an ERC-20 token with several use cases. A total of 500 million UBXT tokens will be minted, at an initial price of 0.01USD/UBXT.
Here are a couple of relevant details concerning UpBots’ native token.
- Means of Payment
Users will be able to leverage the UBXT token in order to pay for platform subscriptions, signals, user training, alongside a series of other purchasable services.
- Ensuring Copy Trading and Bot Performance
Customers can leverage copy trading in order to mirror the profitable transactions of the world’s best traders. Similarly, powerful bots can be rented to carry out 24/7 trading. Commissions are paid to bot developers and users who deliver copy trading services based on their performance.
- The Referral Program
Existing customers who recommend UpBots to other traders will be able to claim a referral fee that will be paid via UBXT.
- HODL-ing
A series of incentives are given to users who hold their UBXT tokens. These include higher referral payments, free trading tools, and free membership, amongst others.
- UpBots’ Tokenomics Vision
The value of UXBT tokens will be preserved and boosted through the platform’s financial policy. Aspects such as token limits, token locking, token burning, and the HODL program will actively control UBXT’s velocity and security as an asset.
FTX Token Sale
Following its successful institutional and private token deals, UpBots will hold a public token sale on the 14th September, as part of its effort to raise capital and attract new users.
The sale will be powered through a partnership with FTX, one of the world’s leading cryptocurrency derivative exchanges. The public sale event provides access to 6% of UBXT tokens. The rest have been sold via the institutional & private sale, or have been allocated to the company’s reserve, development fund, team, advisors, and bounty program.
The raised capital will be leveraged to facilitate the platform’s development, marketing, partners, reserve, legal advice, day-to-day operations, and business expansion efforts. UpBots is looking to revolutionise the current digital currency exchange paradigm, by launching an all-inclusive platform that caters to both novice and veteran cryptocurrency traders worldwide.