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General FAQ

Deposits and withdrawals

1- What is SuperBots ?

SuperBots offers decentralized trading solutions, via "vaults" in which users can deposit their capital and which will be traded on decentralized markets in a secure manner.

2- What is a vault?

A vault is a smart-contract that allows users to deposit their capital and in exchange receive "shares" of the vault. At any time, a user can convert the vault back to capital.

3- Is it secure?

Yes it's safe ! Our vaults have been created by our team and tested with the utmost care. The smart-contracts have been then audited by SolidProof, Certik and we also have an active bounty on Immunefi. All the info can be found on our gitbook.

4- Why there are different vaults ?

Each vault refers to a different algorithm, and each algorithm is based on a different trading strategy. All the data is presented so that you can make the right choice. A trading algorithm is a set of indicators put together to determine the entry and exit points on the price of a value. The algorithms are developed by experts and the UpBots/SuperBots community;

5- What are the risks?

Although the algorithms have built-in safeties, trading is always risky. Losses can occur in the case of negative trades. The goal of the algorithms is to be better than the market, but when the market goes down, it is possible that there will be losses. Consider algorithms in the long term and as a diversification tool in your portfolio.

6- How much does it cost?

There are no fees for deposits and withdrawals. The system is based on performance fees and a transaction fee. Regarding performance fees, in case of profit, the vault will convert 15% into UBXN which will be distributed to the liquidity pool, the algo developer or burned.
In order to link this to the UBXN ecosystem, all trading fees and performance fees are converted to UBXN automatically, creating continuous buying pressure. There is no need to add UBXN in the vault, everything is done automatically.

8- I received another token than the one of my deposit

It is possible if the bot is in another position than the original one. Let's take the example of the ETH-BUSD Vault. If you deposit BUSD, and when you want to withdraw your capital, the bot is in ETH, you will receive ETH.
In case the Vault holds BUSD and ETH at the same time, you will receive both tokens, in proportion to your sharesI added BUSD and received another token

9- Can I withdraw my funds before the end of a trade?

Yes you can. In case the trade is in profit, your personal profit will be calculated and performance fees will be deducted automatically. You will then get back the token BASE (example ETH-BUSD = BASE-QUOTE)

10- Do I need to have UBXN to make a deposit?

No, you do not need UBXT. Performance fees will be calculated automatically at the end of a trade and converted into UBXT.

11- Why are you using Paraswap to make the trades ?

We use ParaSwap for trading to reduce slippage on trades. ParaSwap allows you to directly divide the volume between different protocol by optimizing the slippage automatically.
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