UpBots(Old) Whitepaper Title Template: UpBots(Old): {Whitepaper Title or Project Theme} UpBots(Old): Unified Crypto Trading and Automated Management Platform

What is UpBots(Old)

Friends, imagine if you want to “trade stocks” in the crypto market, but feel overwhelmed by the various trading platforms, all the technical jargon gives you a headache, and you have to constantly watch the market for fear of missing out on profit opportunities—what should you do? UpBots(Old) is like a “smart trading butler” and an “all-in-one trading supermarket” tailored just for you.

It integrates all kinds of independent trading tools, strategies, and platforms into one place, like a super app, so you don’t have to switch between different exchanges or manage a bunch of accounts. Whether you want to trade manually, let a “bot” trade automatically for you, or even follow experienced “pros,” UpBots(Old) aims to help you handle it all.

The project’s original token was called UBXT, so we refer to it as UpBots(Old). Later, due to certain market events, it migrated to a new token, UBXN. Its core goal is to make crypto trading simpler and more efficient, so that both beginners and experienced traders can find the right tools for themselves.

Most notably, UpBots(Old) adopts a “no profit, no fee” model. This means you only pay fees when you make money using its trading bots; if you lose, you get “virtual credits” to offset fees until you’re profitable again. It’s like hiring a personal trainer and only paying when you actually lose weight—isn’t that a great deal?

Project Vision and Value Proposition

UpBots(Old) has an ambitious vision: it wants to become an “all-in-one” investment management platform, not limited to crypto, but also planning to support forex and commodities trading in the future. Its mission is to create a level playing field for all traders, so that newcomers to crypto are less likely to get “rekt” (lose big money).

The core problems it aims to solve are:

• Fragmented tools, complex operations: There are too many scattered tools in the current trading market; beginners don’t know what to choose, and veterans find it a hassle to manage. UpBots(Old) is like a “Swiss Army knife,” integrating all functions in one place.
• High barriers for beginners, high risk: Many newcomers lose money due to lack of experience and knowledge. UpBots(Old) aims to lower this barrier and help users avoid some risks by providing educational content, copy trading, and vetted trading bots.

Compared to similar projects, UpBots(Old)’s differentiator is its “no profit, no fee” model, which greatly reduces the risk for users trying new tools. In addition, it is committed to integrating both centralized exchanges (CEX) and decentralized exchanges (DEX), providing a unified interface—a forward-looking approach at the time.

Technical Features

UpBots(Old) has the following main technical features:

• Multi-platform aggregation: It can connect to multiple centralized exchanges (such as Binance, FTX, etc.) and decentralized exchanges, allowing you to manage all assets and trade from a single interface.
• Non-custodial model: Your funds are not stored on the UpBots(Old) platform, but are connected to your own exchange accounts via API keys (think of them as authorization codes). The platform only gets trading permissions, not withdrawal rights, greatly improving fund security.
• Smart contract-driven: Its token (UBXN) is issued based on blockchain smart contracts, which are open source, meaning anyone can review the code, increasing transparency.
• Cloud deployment: The platform runs in the cloud, meaning you can access and use it anytime, anywhere via the internet.
• SuperBots: This is a decentralized finance (DeFi) app developed by the UpBots team, using smart contracts and aggregators to manage trading vaults, allowing users to invest in algorithm-managed trading strategies.

Tokenomics

The tokenomics of UpBots(Old) are at the core of its ecosystem. The original token was UBXT, but due to the FTX/Alameda incident, the team decided to migrate to the new UBXN token.

• Token symbol: Originally UBXT, later migrated to UBXN.
• Issuance chain: UBXT was initially an ERC-20 token (Ethereum network), UBXN is a BEP20 token (Binance Smart Chain).
• Total supply and issuance mechanism: The initial total supply of UBXT was 500 million. Later, the team proposed an aggressive burn plan, aiming to burn up to 50% of tokens, reducing total circulation to 250 million. For UBXN, the current total supply is about 406 million, with a max supply still at 500 million.
• Token utility: UBXT/UBXN is the “fuel” of the UpBots ecosystem, mainly used for:
  • Paying fees: Subscription services, marketplace tools (such as trading bots, algorithms), profit sharing from copy trading, etc.
  • Educational content: Purchasing educational courses on the platform.
  • Staking: Holding and locking tokens to earn rewards, including APY and platform profit sharing.
  • Referral rewards: Earning token rewards for referring new users to the platform.
• Inflation/Burn mechanism: UpBots(Old) has an active burn plan. In addition to burning up to 25% of performance fees weekly, 15% of net platform income is used to buy back and burn tokens. The goal is to reduce total supply, potentially increasing token value.
• Distribution and vesting: The initial UBXT token sale accounted for 23% of total supply. The specific vesting schedule is not detailed in public materials, but is typically released in phases to avoid market shocks.

Team, Governance, and Funding

• Core members: UpBots(Old) was co-founded by Benjamin Duval and Julien Quertain. They previously created another major bot trading platform, 4C Trading.
• Team characteristics: Team members have professional backgrounds in mathematics, computer science, finance, and marketing, and are committed to innovation and excellence. They have extensive experience in crypto trading.
• Company background: UpBots(Old) was founded in 2019 and is headquartered in Saint Vincent and the Grenadines. It is part of the Solfin Consulting ecosystem, which brings together crypto industry professionals to provide a comprehensive trading experience.
• Funding: UpBots(Old) raised $1.6 million in early investment from institutions including Alameda Research, CMS, Taureon, etc. Later reports indicated total funding exceeded $4 million.
• Governance mechanism: Public information does not detail a specific decentralized governance mechanism, but the project team plays a leading role in development and decision-making.

Roadmap

Since its inception, UpBots(Old) has gone through a series of development milestones and plans:

• 2020:
  • Conducted public sale.
  • Released platform version 1.0.
  • Applied for FINMA (Swiss Financial Market Supervisory Authority) license.
  • Integrated with key partners such as DEX.ag.
• First half of 2021:
  • Planned DeFi integration and mobile app launch.
• Second half of 2021:
  • Planned to add forex and commodities trading, and enable cross-market trading.
• 2022:
  • User count surpassed 20,000, with 8 million trades and total trading volume over $1 billion.
  • Due to the FTX bankruptcy, the team decided to migrate the UBXT token to the new UBXN token to protect the ecosystem.
• 2023:
  • Launched SuperBots ETH vaults.
  • Planned to launch market-making bots and optimize UNIV3 vaults.
  • Planned to launch long-short trading vaults.
  • Planned to introduce copy trading in SuperBots.
  • Planned to expand to other blockchain networks such as Arbitrum and Optimism.
• Ongoing development: The platform is regularly updated, with continuous development of new features and improvements to existing ones.

Common Risk Warnings

All blockchain projects carry risks, and UpBots(Old) is no exception. When learning about this project, keep the following in mind:

• Market adoption risk: The platform’s success largely depends on whether enough users adopt its services. If user growth falls short of expectations, it may affect project development and token value.
• Market volatility risk: The crypto market is highly volatile, which directly impacts the performance of trading bots and user returns.
• Technical and security risk: Although the platform claims to be non-custodial and API keys are encrypted, any software may have vulnerabilities. Smart contract security is also crucial; while MBXN’s smart contracts are open source, potential risks remain.
• Economic risk: Token value is affected by market supply and demand, project development, macroeconomics, and other factors, so price volatility risk exists.
• Operational risk: The 2022 FTX/Alameda bankruptcy forced UpBots(Old) to migrate tokens, showing that project operations can be significantly affected by uncontrollable external events.
• Compliance risk: Global crypto regulations are constantly evolving; future regulations may impact project operations.
• Centralization risk: Although smart contracts are open source, the platform’s interface, trading marketplace, and algorithmic bots are proprietary, meaning core functions are not fully decentralized and some centralization risk exists.

Verification Checklist

• Block explorer contract address: UBXN’s smart contract is open source and can be viewed on Etherscan and BscScan.
• GitHub activity: UpBots(Old)’s MBXN smart contract is open source, but the core platform, trading marketplace, and algorithmic bot code are proprietary and not public on GitHub. Projects found on GitHub named “UPBot” or “Upbot” are not the actual UpBots platform codebase.
• Official website: https://www.upbots.com

Project Summary

UpBots(Old) is an “all-in-one” smart platform designed to simplify trading of crypto and other assets. By integrating various trading tools (such as algorithmic bots, copy trading, manual trading) and connecting centralized and decentralized exchanges, it provides convenience for traders of all experience levels. Its unique “no profit, no fee” model and non-custodial fund management are its main highlights. The project’s original token was UBXT, later migrated to UBXN due to market events, serving as the ecosystem’s fuel for paying fees, staking, and incentives. The team continues to develop and iterate platform features, and actively expands into DeFi.

In summary, UpBots(Old) is committed to lowering trading barriers and improving efficiency through technological innovation and user-friendly design. However, like all blockchain projects, it faces market competition, technical security, economic volatility, and operational risks. Always conduct thorough personal research (Do Your Own Research, DYOR) before making any decisions related to this project, and remember this is not investment advice.