UniBot, a prominent trading application, is set to introduce a new token, UNISOL, on the Solana ecosystem, aiming to add value for holders of the original Ethereum-based UNIBOT token. This move comes after recent price volatility sparked by initial criticism of the token.
UniBot’s UNISOL Move
The expansion into the Solana ecosystem in late December 2023 marked a significant step for UniBot. The newly announced UNISOL token is designed to generate income in SOL, Solana’s native token. This development raised concerns among UNIBOT investors about potential devaluation due to a shift in investor preference towards UNISOL.
UniBot developers have suggested that UNISOL could potentially boost the UNIBOT token’s value, addressing some of the recent market losses. UniBot’s platform enables users to trade tokens on Uniswap via Telegram or a terminal interface, simplifying the process significantly.
In detailing the token launch, UniBot developers explained that revenue from the Solana-based Unibot protocol would be equally divided between two pools. Pool 1 is dedicated to Ethereum-based UNIBOT holders, while Pool 2 caters exclusively to UNISOL holders on Solana.
UNIBOT holders are anticipated to receive approximately 80% of the UNISOL supply through a snapshot and claim process. Since the beginning of the month, the platform has attracted over 20,000 users, generating substantial trading volume.
On-chain data indicates a consistent increase in UniBot platform usage since its inception, with significant transaction fee revenue generated and shared with token holders. Despite this growth, UniBot’s daily volume remains modest compared to the market leader Uniswap. Following recent updates, UNIBOT’s value experienced a notable surge, though it has since corrected slightly.