- Unibot is creating a native Solana ecosystem token, UNISOL, which will allocate 80% of its supply to existing UNIBOT holders.
- Despite initial market concerns, this move could potentially enhance the value of UNIBOT tokens, with revenue sharing split between two pools.
In the ever-evolving landscape of blockchain and cryptocurrency, Unibot has made a significant announcement that has captured the attention of investors and enthusiasts alike. The trading application known for bridging user wallets with decentralized exchanges has unveiled a pivotal strategy that may redefine token value within its ecosystem.
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
— Unibot (@TeamUnibot) January 28, 2024
Strategic Expansion to Solana
As Unibot extends its reach into the Solana ecosystem, it introduces the UNISOL token, which is set to accrue revenue in the form of Solana‘s native SOL tokens. This move initially sparked concerns among UNIBOT’s long-standing holders, fearing potential dilution in favor of the new token and prompting a market sell-off.
However, developers have clarified the purpose and potential of the UNISOL token, assuring that it could, in fact, boost the value accrual for UNIBOT. In a message to the community, they outlined a 50/50 split in protocol revenue generated by @UnibotOnSolana between two distinct pools. Pool #1 is accessible by simply holding $UNIBOT on Ethereum, linking an Ethereum address to a Solana address to receive SOL as revenue. Pool #2 is designated for holders of $UNISOL on Solana.
A Snapshot and Claim Mechanism
UNIBOT holders are poised to receive a substantial portion—80% of the UNISOL supply—through a snapshot and claim process. Since its launch in early January, the platform has witnessed over 20,000 users generating more than $130 million in total volume, showcasing rapid adoption and robust activity.
On-chain data further reveals that Unibot has collected significant fees since its inception, with a notable portion being directly distributed to token holders. User numbers have seen an impressive growth, hitting 41,000 on Monday compared to just over 2,000 at the end of last June.
Despite initial turbulence, Sunday’s activity on the platform yielded $74,000 in fees across Solana and Ethereum, emphasizing Unibot’s potential as a revenue-generating tool.
Market Reaction and Future Prospects
In response to the recent developments, UNIBOT prices have surged by 21% in the past 24 hours. While Unibot’s average daily volumes still trail behind the market-leading DEX Uniswap, this new strategic direction could pave the way for increased usage and market share.
In conclusion, Unibot’s introduction of the UNISOL token represents a strategic decision to harness the growth of the Solana ecosystem and enhance the value for UNIBOT holders. The token’s revenue-sharing model and the promise of a snapshot and claim mechanism for distribution have set a new course for Unibot, with the potential to solidify its position as a leader in trading tools within the Solana space.