Research Summary
The report provides an in-depth analysis of Unibot, a trading bot that simplifies automated DEX trades via the Telegram app. It covers Unibot’s use case, adoption, revenue, tokenomics, treasury, governance, team and investors, competitors, risks and audits, and provides a summary of its performance.
Key Takeaways
Unibot’s Unique Use Case and Adoption
- Revolutionizing Crypto Trading: Unibot has revolutionized crypto trading by offering a cleaner and faster alternative to traditional platforms. It provides MEV protection, failed transaction protection, and faster trading, making it easier for new users to enter the web3 space.
- Impressive User Growth: Since its launch in May 2023, Unibot has seen remarkable growth in its user base, with 20k total cumulative users and $2.2m trading volume in the last 24 hours. However, a recent slowdown in numbers has been observed due to a hack and increased competition.
Revenue and Tokenomics
- Revenue Sharing Model: Unibot distributes a revenue share from its protocol to holders of the native token. Over the past 30 days, Unibot has generated $433k in revenue, ranking it 38th amongst all protocols according to DeFi Llama.
- Simple Tokenomics: Unibot’s tokenomics are straightforward, with 1M tokens issued at launch, a 4% tax on UNIBOT traded, and a market cap of $50.7m. The largest individual wallet holds only 2.7% of the supply.
Competitors and Risks
- Competitive Landscape: The sector of Telegram bots is filled with competitors, with Banana Gun providing strong competition to Unibot across all metrics.
- Security Risks: Unibot was hacked through a token approval exploit in October 2023, resulting in a loss of over $600k of user funds. The team responded swiftly and has returned the majority of user funds, highlighting the inherent risks associated with using Telegram bots.
Actionable Insights
- Investigate the Potential of Telegram Bots: The report suggests that Telegram bots like Unibot are revolutionizing the crypto trading space by offering a cleaner and faster alternative to traditional platforms. This could be an area of interest for those looking to simplify their trading experience.
- Consider the Risks: While Unibot offers a unique use case and has seen impressive user growth, it has also faced security issues. Users should consider these risks and regularly transfer funds to cold storage for safety.
- Monitor the Competitive Landscape: With strong competition from other Telegram bots, it’s important to keep an eye on the competitive landscape and how Unibot responds to these challenges.
