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Algo Bots
In the UpBots ecosystem Algo Rental is how we describe the area of the UpBots Marketplace where users can "rent" algorithm trading bots. However these bots are only paid for when they win.
Feature Explanation
Algo Bot Access (UBXT Stakers)
Activate an Algo Bot
Algo Analytics
Performance Fees
Rent Your Algos
101 - Rent your algorithms
If you are here, it’s because you’re able to create awesome trading algos, and you’d like to earn even more profit on them. Since we are striving to make UpBots the most used trading platform, you can help us make that dream a reality.
By renting your algorithms to other members, you allow the UpBots community to follow your trades, while allowing you to earn a share of their profits. How does it work? How can you get started?? We explain it all here.
Why rent your algos?
You’ve spent long hours and tons of hard work to nail down a profitable trading algo, so why should you share it with others?
The answer is simple, it’s to have a leverage effect.
An algorithm goes through good and bad phases. It is often wise to diversify and this is also true for the creator of the algorithm. However, by not putting all your eggs in one basket, you risk not taking advantage of the moments when it performs well.
The solution to this would be to make other people’s trading capital work for you! By taking part of their profit you risk no loss, only gain on what they can earn.
By not risking your own capital, you earn commissions and thanks to UpBots, you don't have to manage anything, we take care of the process and calculation.
What is my commission?
Commissions can range from 12.5% to 25% depending on the percentage decided by the developer and are calculated on the basis of the realized result (profit - loss).
At the end of each trade, the performance is calculated.
In case of a profit, UBXT is deducted from the user's account. In case of loss, a virtual credit is created. Future profits will be paid out in priority with these virtual credits, ensuring that the user only pays out in the event of an overall profit.
How are the fees distributed?
UpBots takes a fixed rate of 6,5% on the profit generated by the user.
Then, it is up to the developer to choose his %, in a range from 2% to 10%.
The % chosen by the developer will determine the part burned and the part added to the performance fees pool, split 50/50 between the two.
So, on the performance fees range from 10.5% to 25% considering that :
- 6.5% goes to UpBots
- 2% to 9.25% goes to the Algo Dev
- 1% to 4.625% goes to the Performance Fees Pool
- 1% to 4.625% are burned
Example:
100 users are connected to algo #1 that you created, and you decided to ask 6.75% of performance fees. The performance fees are 20%. The total allocated capital is the equivalent of $1,000,000.
The last trade made 5% of profit for a total profit of $50,000.
So :
- $50.000 * 0.0675 = $3.375 which is what you will get for that specific trade, paid in UBXT.
- $1.687 in UBXT equivalent will be burned.
- $1,687 in UBXT equivalent will be distributed to the stakers.
- $3.250 in UBXT equivalent will be allocated to UpBots.
How to participate?
In order to be able to propose your algorithms to the community and earn a % of their earnings, you and your algo will have to follow the process below.
Note: This part is subject to change over time. We provide here the process valid until the launch of DAO and Algo Lab.
1- You will have to register on the UpBots interface and create an account.
2- Then, send an email to [email protected], indicating your willingness to rent your algorithm, as well as the following information:
- the email used during your registration on the app UpBots
- the pair(s) and exchange(s) of your algorithm(s)
- The TradingView link to your algorithm (if private, grant access to @ben_4C)
- Optional - performance over 1 month, 3 months, 6 months and 12 months. - The average monthly number of trades, max drawdown, success rate.
- A short description of the strategy (period used, trend/scalp/..., profit and stop loss strategy, etc ...)
And any other information that can facilitate the analysis, such as a list of trades, excel of your trades on a related exchange, etc ...
! Repaint algorithms will be directly eliminated. Make sure that your strategy does not trigger any alerts by TradingView and that nothing alters the trades and analyzes the future evolution !
3-If your algorithm is approved, UpBots will send you a confidentiality agreement (NDA) preserving all your rights on the developed code. You can either send us the code to install it on our servers or give us access via TradingView.
We will then test the script live, check the announced performances, check if it is not "repainted" and if successful, implement it in our back-end.
Once your algorithm has been validated, it will then be added to the interface and available to all members.
FAQ
Q: Do you want to update your code?
A: No worries. If you have a new version to present, you can inform our team who will analyze the new version in the same way as the previous one and update the algorithm to the community.
Q: Do you want to remove the code?
A: Just inform our team and we will remove your algorithm from our interface and servers within 30 days, giving the community time to change the algorithm.
Q: Can you have several listed algorithms?
A: There is no limit, you can send us the algorithms of your choice and we will analyze them.
Q: Will my algorithm be deleted?
A: A monthly analysis of the algorithms is done by our team. Considering the volumes, performances, and interests of the community, we allow ourselves the right to remove algorithms from the interface.
Q: What pairs do you currently support?
A: We support all pairs on Binance and FTX spot. Other markets will be added soon.
**US authors will be required to submit personal information, or LLC information, for tax purposes when platform payments reach $600 +. Non-US authors will not be required to submit personal information or LLC information but are expected to conform to local tax laws.
Hope to hear from you soon!
Last modified 6mo ago