After parting ways with the Solana team, can Unibot regain its market share by officially launching a dedicated trading Bot?

Author: Frank, PANews

The battle over Solana products on Unibot continues. On March 14, Telegram Bot project Unibot launched Unisol X, a robot specifically targeting the Solana chain. It was opened simultaneously on Telegram and Unibot

A few days ago, Unibot announced the end of cooperation with its Solana team and asked it to change its name. The reasons include the Solana team launching the "evm_unibot" robot without permission, violating trust; refusing to conduct KYC; and failing to fulfill its financial commitments to the Unibot core team and holders. Unibot also said there were too many red flags to guarantee that funds were safe in Unibot Solana’s robot.

Solana contributed 90% of trading volume, but its market share declined due to team differences.

As soon as the news was released, Unibot's tokens fell by more than half within a few hours, from US$76.31 to US$33.39, with approximately US$40 million in market value evaporated. It is reported that after Unibot issued an announcement to terminate the cooperation, the Unibot On Solana team also responded quickly, accusing Unibot officials of "in view of the recent success of the robot and the recent reduction of token taxes, the mainnet team began to impose restrictions on the income of the Solana robot. pressure and tried to extort control on their own. After realizing this was not feasible, they turned to spreading baseless FUD while announcing that they would launch their own Solana robot." In addition, the Unibot On Solana team also responded to the official Unibot proposal Responding to various accusations, including security architecture, fund management issues, KYC, etc.

In the community discussion, there was a one-sided situation in favor of Unibot On Solana. Some users pointed out that Unibot Ethereum's revenue is currently declining significantly, while Unibot Solana's revenue accounts for the main proportion. In the social media comments of Unibot On Solana, the majority of comments expressed support for Unibot On Solana’s rebranding. In the comment area of Unibot's official Twitter, the vast majority of comments accused Unibot of releasing news that caused the market to collapse and caused a large number of investors to suffer losses.

Comparison of UNIBOT trading volume before March 11

Since the news was released on March 11, the daily trading volume of the Unibot Ethereum robot has also continued to decline, from US$5.89 million before the release to US$1.67 million, a decrease of 71%. The daily trading volume of the Unibot Solana robot does not seem to be greatly affected, and even reached $25.78 million on March 13, which is close to the historical high.

Daily trading volume statistics of Unibot Solana robot

Unibot Ethereum’s daily trading volume statistics

Telegram bot product ranking data

Judging from the data, Unibot on Solana previously accounted for more than 90% of Unibot’s transaction volume. After the breakup between the two parties, Unbot's ranking in the market dropped directly from third place to seventh place in the market.

However, the most direct reason for the victory of Unibot on Solana may be Solana’s Meme craze. Currently, the proportion of on-chain transactions through Solana’s Bot product has reached 79.5%, which is more than 4 times that of the Ethereum chain. It is reported that Unbot officially announced that it will soon release the official Unibot Solana Bot.

Whether Unibot can regain market share through its own Solana trading robot is still unknown. Currently, there are many competitors on the Solana chain, including Maestro, Banana Gun, Pepe Boost, and Bonk bot.

Has been hacked and exposed to asset security risks

Looking beyond the farce between Unibot and other telegram bots, what we can see is that in the competition between Unibot and other Telegram Bot robot products, the user group is always at a disadvantage.

A user with the Twitter ID @Call_ETH_X1000 posted a screenshot of the conversation, which showed that a user said he lost all his SOL tokens after using Unibot on Solana. In fact, Unibot has experienced similar situations before.

A person with the ID @cryptowhail claimed that he was a former Unibot employee. He said: "Due to the incompetence of ETH developers, when Unibot ETH experienced a token approval vulnerability. The Unibot SOL team and I repeatedly told developers to be careful. In the Maestro vulnerability Review their code after it happened. However, they arrogantly refused and were baselessly convinced they were secure. When the breach occurred, it was @Reethmos and @mikebot3000 who went through hell to recoup every dollar they lost / token. It will be time for me to leave soon." It is reported that Unibot was hacked on October 31, 2023, causing a total loss of approximately US$600,000. The Unibot team has fully compensated it based on a cost of US$1.78 million.

At present, the cumulative transaction volume of various mainstream Telegram Bots has exceeded 8 billion US dollars, and Unibot has earned more than 50 million US dollars in fees from Unibot since its establishment. It must be said that this fully confirms the commercial charm of Telegram Bot products.

While the platform is making a lot of money, one issue that has attracted much attention in Telegram Bot products is the issue of donating private keys to the platform or generating wallets from the platform. Fundamentally speaking, this hosting model itself has huge security risks. Even though the current Telegram Bot product has not yet seen platform-side currency run away, it is still inevitable that this is the Sword of Damocles hanging over every user’s head.