Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
SuperBots – The First Protocol that Supports Automatic Trading in DeFi
SuperBots is a DeFi protocol offering decentralized trading solutions where users can deposit their capital in vaults for secure and efficient trades on decentralized markets. The project stands out through its no-fees policy on deposits and withdrawals. Instead, the system is based on performance fees and transaction fees.
SuperBots shares some of its features with UpBots, a digital asset management platform enabling trading in crypto through trading algorithms. Both protocols support accessible crypto trading for new and expert traders alike.
This SuperBots review analyzes the project’s standout features and roadmap. Read on to discover more about the first protocol with automatic trading in DeFi!
What is SuperBots?
SuperBots allows traders to automate their trades on decentralized finance based on a specific trading strategy and a particular market. Its vaults operate 24/7, allowing users to make trades according to their own schedule and in a maximum security environment.
SuperBots claims to be the first revolutionary protocol to enable all traders, regardless of skill or experience, to trade whenever they please through automated strategies. Furthermore, traders do not have to create accounts on the platform. Instead, they only need to connect their wallets with MetaMask and start trading immediately. All trades are 100% blockchain-based and secured by Solidproof and Immunefi, two of the industry’s leading audit and security providers.
How SuperBots Works
Below is a brief presentation of SuperBots’ standout features and the many ways users can earn through this protocol.
Algorithmic DeFi Trading Vaults
The trading vaults are the main feature of SuperBots enabling users to lock their capital in a pool and allow trading algorithms to do the work for them. Every pool is shared by the investors pouring funds into it. In return, they receive xUBXT tokens, which they can transfer, thus allowing another wallet to withdraw the capital.
Each vault uses a different algorithm. Therefore, users must research their operations and pairs before choosing one that suits their trading strategies. All algorithms are developed by third parties, and SuperBots does not take responsibility for them, their results, or incurred losses.
The SuperBots vaults base their operations on performance fees, which they redistribute to the staking pool, to the algorithm’s developer, and, to a lesser extent, to SuperBots. In the case of “true” profit, i.e an increase of capital above the previous ATH, the vault will convert 15% into UBXT tokens, which will then distribute to the liquidity pool, the Algo developer, or towards burning. However, the system will not charge fees if there is no profit.
The platform allows users to deposit directly from their crypto wallets. Moreover, it guarantees users 100% ownership of their crypto and the option to withdraw their capital whenever possible.
Another of the protocol’s main features is the Super-Vault, a tool that simplifies trading by automatically dividing a user’s capital equally between the 5 best performing bots. Next, it rebalances them each month depending on the bots’ evaluation.
How the SuperBots Vaults Work
SuperBots uses 1inch, a DeFi and DEX aggregator, for trading to reduce slippage on trades. Furthermore, this service allows users to directly divide the volume between different pools by optimizing the slippage automatically.
- Here’s how the vaults work on the SuperBots platform:
- The user deposits cryptos in the vault of his choice.
- In return, he receives xUBXT representing his share in the vault.
- The system activates an order on the vault’s Smart Contract when a signal is triggered.
- The order is then sent to 1inch to reduce slippage.
- Once a sell signal is received, a new order is placed on 1inch in the opposite direction.
- Two outcomes are possible:
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- If a profit has been made, the system takes a certain percentage and automatically converts it into UBXT. It then shares it between different wallets (Algo dev, SuperBots, staking pool, burn).
- If a loss has been generated, the system does not take any fees until the vault returns to profit.
8. The user can exchange his xUBXT for the available capital in the pool.
SuperBots’ Educational Series
The platform enables all users, regardless of experience or skill, to trade and earn in decentralized finance. Furthermore, it provides the necessary materials for everyone to learn more about crypto trading from a basic level. Its educational series are available through extensive documentation, a blog, and an FAQ section on the website.
Passive Income Revenue Streams with SuperBots
SuperBots is available only on the BNB Chain and enables users to win in three ways – by investing, farming, or playing. The protocol offers numerous vaults trading on decentralized exchanges (DEX) and following precise trading strategies to help users get the most out of their capital.
SuperBots enables users to earn UBXT and other tokens for free with considerable interest rates. Furthermore, they can stake UBXT or LP Tokens to earn free UBXT thanks to the staking pool. Additionally, they get a percentage of all the performance fees paid by the users and investors.
Users can also obtain UBXT by staking USDT tokens in a staking pool exclusively available for now on BNB Chain. The protocol aims to add more pools soon to increase the earning opportunities for its adopters.
SuperBots allows users to win collectible NFTs by participating in trading competitions, prediction contests, and other games in the Metaverse.
SuperBots Roadmap and Future Features
SuperBots launched the protocol’s first version (0.1), containing 7 vaults, in March 2022. Next month, it launched officially following the bounty on Immunefi. Since then, it has also reached these development stages:
- Deployment of the Vault Smart contract
- Website deployment
- Creation of the 5 first Vaults connected to Algos
- Creation of the Super-Vault, sharing the capital on the top 5 performers
- Launched UBXT Staking pools, the LP Staking pool, the USDT Vault
- Enabled farming website page on SuperBots
The SuperBots team has ambitious plans for the future, including launching an NFT ecosystem and an NFT marketplace. Furthermore, the platform should include several play-to-earn opportunities for users, including lotteries, prediction games, and Metaverse-based games.
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