UpBots, a Swiss all-in-one trading ecosystem announced its unique liquidity staking program on the FTX Exchange that promises up to 25% APR on staked UBXT this Wednesday. The program is set to launch on the 2nd of November with a total pool size of 60 million UBXT tokens.
UpBots offers two types of staking, each with different benefits. Program participants can lock their stake for either 7 or 30 days. Staking with a 7-day unlock period yields lesser rewards of 16% APR, with no early access to the MVP and no subscription to the full release.
Staking with the 30-day unlock option provides the full 25% APR in staking rewards.
In addition to the staking rewards, the company also provides early access to three algorithmic trading bots and other early features, as well as a full subscription and the opportunity for staking program participants to become a part of the UpBots Ambassador Program.
What makes the staking program unique is the fact that it’s limited to the amount of UBXT tokens that can be staked. There will never be more than 60 million UBXT staked in the program and late birds will have to wait for someone to remove their stake before they can participate.
The staking rewards will be released every hour with 50% of the reward unlocked and redeemable, and the other 50% locked until the stake is removed. The minimum participation requires 10,000 UBXT, while the maximum is one million UBXT, ensuring that a wide variety of participants can take advantage of the program.
FTX exchange is ensuring the full compliance of the process and UpBots GmbH will have no access or control over the staked tokens.
Regarding the staking program and collaboration with the FTX exchange Benjamin Duval, Upbots co-founder said:
“We are extremely excited to collaborate with FTX to execute on this staking program and provide additional value to the ecosystem. We are hard at work on the platform and looking forward to sharing our early access with our most loyal followers that participate in the staking program”
UpBots will publish instructions and additional details about the staking program on Friday and Monday, providing instructions and answering community questions before the final program launch on the 2nd of November.
What is UpBots?
At its core, UpBots is a trading platform that provides traders with the ability to access the entire crypto ecosystem using one single interface. Beyond this primary goal, it provides a variety of tools to help traders perform better on the markets regardless if they are trading using centralized or decentralized exchanges.
The all-encompassing ecosystem strongly focuses on providing traders with the ability to rent algorithmic bots and pay for them with a percentage of the profits. Instead of buying the algorithm and bot upfront, traders will be able to see past performance and manage liquidity, paying only if the trading bot successfully generates profit.
Their vision is to enable 90% of traders to make a profit with trading, instead of the current polar opposite with 90% of traders losing most of their capital in 90 days.
Lastly, their overarching narrative is on trading education and they are building features in their platform that will enable crypto traders to teach, learn, and earn.