UBXT is available as ERC20 on Ethereum, BEP20 on Binance Smart Chain and on Solana, and is a utility token that powers the UpBots platform and makes the UpBots ecosystem function correctly. Fundamentally the token has been designed to be linked closely to the adoption of the UpBots trading ecosystem.
The token can be traded on the open crypto market, either on centralized or de-centralized exchanges, or through DeFi swaps.
If the token is mandatory on UpBots, the conversion is automatic on SuperBots and users don't need it.
All tokens were minted at the creation of the Smart Contract, for a total of 500,000,000 UBXT. This amount is the maximum limit, however over time this will be reduced by 50%+.
The token was created with a strategy of scarcity, relying on the progressive reduction of the number of available tokens, by buying them back and burning them.
Token Burning Program
Burn Program One - Performance fee Burn
Services on UpBots and SuperBots that are linked to the performance fee system, will Burn a % of the profits users make. This program will be active until 50% of the total supply of UBXT has been burned (250,000.000 UBXT).
Burn Program Two - UpBots Net Income
15% of the UpBots/SuperBots net income will be used to do a buy and burn in Q4 2021. This is in addition to the UBXT that will be burned by the performance fee system when it is activated. The UpBots Net Income Burn program will be active until Q4 2024 with the percentage scaling down each year until 2024.
The goal of Burning Program Two is to accelerate the burning process. To do this we allocate a portion of the net profits made by UpBots for the year to a buy and burn event.
Burn Program 3 - Stable Coin Yield Farming Pool
The community yield farming pool will allow farming in stable coin. The stable coin will then be used to auto farm the best stable coin APR rates available on the market. The rewards earned by the pool will be used to buy UBXT from the market and automatically reward this to the farmers.
The advantage of this is that the pool offers a lower risk stable coin farming option that also helps to add buying pressure to UBXT while simultaneously reducing the supply through burning and locking UBXT in liquidity on decentralized exchanges.
Stable yield farming pool soon to be available on UpBots.
Deposit in stable coin
Optimization APR farming strategy for stable coin
90% of farmed rewards are used to buy UBXT directly from the market and is redistributed to farmers.
4.625% is added to the liquidity pool (UBXT/BUSD)
4.625% is burned
Burning will reduce the supply allowing UBXT to become a deflationary currency. Over time this should concentrate the value of UBXT into fewer coins and coupled with increased demand for UBXT this should lead to each token becoming more valuable.
Initially we planned to have burning programs until we had burned half the circulating supply of UBXT. However, with the addition of the stable farming pool, eventually we would reach 50% of the total supply and the pool would no longer function. To keep things simple we have removed the limitation on the amount of UBXT that can be burned so the stable coin farming pool will continue the work burn tokens after the first and second burning programs are concluded.
Does this mean we could potentially burn all the UBXT? It is impossible to burn the entire supply due to the laws of mathematics as we will always be burning a % of the remaining UBXT so it would not be possible to burn the whole supply!
The goal of the burn programs is to have accelerated burning to begin with and then have the pool act as a dynamo generating buying pressure for UBXT and also continuously burning the supply for years to come.