With the massive rise of DeFi platforms in the last month, there has been a new focus in the blockchain industry with its emphasis on automation. For example, you can add liquidity to a lending economy, a decentralized exchange, or a market maker. Your investment automatically begins to accrue a yield by serving the economic functions of the DeFi platform.
Given these circumstances, Upbots has its finger on the pulse. The Swiss trading platform wants to bring more options to the market on turning an automated profit on crypto investments. Let’s take a look at what Upbots has to offer.
Trade across multiple exchanges
The Upbots dashboard will be connected to some of the largest exchanges through secured APIs, allowing you to always trade in the best conditions. The Upbots Whitepaper mentions that Binance, BitMEX, Bittrex, CoinbasePro, and Kraken will be supported, with more to follow. Recently, they have announced to add OKEx and ByBit as well. They intend to integrate with all major exchanges that have sufficient liquidity.
Recently, Upbots has also announced a partnership with DEX.AG, an aggregator for decentralized exchanges. This also means that through the Upbots dashboard, you will instantly access atomic token swaps on many different decentralized exchanges, such as Uniswap, Oasis, Kyber, and many more. These swaps are implemented through the X Blaster feature on DEX.AG, automatically swaps the best possible conversion rate, splitting the trade up to different exchanges to avoid price slippage, if necessary.
Additionally, Upbots provides you with charting tools that work across all exchanges. This is a massive improvement for all decentralized exchanges in particular, as they often have only rudimentary charts or show an order book with no charts at all. Finally, Upbots hosts a learning platform that traders can use to improve their skills.
Automate your trades
The real pain point Upbots wants to tackle is the high entry barrier for new traders. Without extensive knowledge of fundamental and technical analysis, trading is more a gambling game than a winning proposition. While sophisticated trades can be highly profitable, amateurs have to invest hours and hours on theoretical learning, until they become winning traders.
As an alternative, Upbots hosts trading bots with a profitable track record that their customers can use to automatize their trades. Furthermore, they can automatically copy all trades from veteran traders on the platform. In turn, traders who supply the platform with trading signals, copy trading opportunities, or trading bots receive a commission. This enables amateur traders to profit from veterans while giving the experienced traders an incentive to share their knowledge.
UBXT powers the Upbots ecosystem
At the center of the trading marketplace on the Upbots platform is the ERC-20 Token UBXT. This utility token is used for all payments on the platform, such as membership fees, subscription fees to online courses on the learning platform, or trading signals. Besides being used for payments, users may also stake UBXT for a predefined amount of time, which grants them a set of benefits, such as free online courses or a free subscription.
One of the most exciting features of UBXT is that the token is also used as a reward system for platform users who participate in the “ask the market” prediction game. This allows Upbots to gather a market sentiment on selected markets, backed by the players’ economic interest to earn tokens by making good predictions.
After reaching the hard cap on two prior private token sale rounds, UBXT will become available through a public token sale with the date to be announced soon.
Meet the family
Upbots is being developed by the Brussels-based company Solfin Consulting. Both Solfin and Upbots are led by Benjamin Duval, who has over ten years of business management experience. Part of the same team, Julien Quertain is the Co-Founder of 4c-Trading & Upbots.
Other members of the Solfin family are 4c-Trading and BrainFeed. 4c-Trading is a trading bot that came into existence through the joint efforts of two of the most respected trading signal providers. The company will be one of the first trading bots and signal providers available on the Upbots marketplace.
BrainFeed is an online learning platform covering topics on cryptocurrencies, blockchain technology, and trading. This will serve as the basis for the online trading courses on the Upbots platform.
Connecting Upbots to the DeFi ecosystem
Recently, Upbots has announced a partnership with DEX.AG, an aggregator for decentralized exchanges. DEX.AG connects 11 different decentralized exchanges, allowing traders to pick the exchange with the best trading conditions. This is made possible by the X Blaster feature on DEX.AG, through which traders can split up trades to multiple exchanges.
With this partnership, Upbots makes the first venture in the DeFi space, which will ultimately be incorporated in the user dashboard. Thanks to this, their users will be able to swap tokens on decentralized exchanges and provide liquidity to various DeFi protocols, which will be added as partners shortly.
Benjamin Duval commented on the partnership:
With Upbots, users can trade across various centralized and decentralized exchanges. With online courses, they will be able to improve their skills while outsourcing their trades to bots and more experienced traders, until they are confident enough to make their profitable trades.
Furthermore, Upbots will soon venture into the DeFi industry, allowing users to fund various DeFi protocols from a single dashboard.