This section will be updated based on the questions received by our support team.
Our trading bots are able to take commands from a trading algorithm(Algo) and execute orders to buy or sell based on the signal provided to them by the trading Algo. Trading Algos are designed to provide entry and exit signals based on current market conditions with the goal of being profitable. When you take our bots which can interact with exchanges and connect them to an Algo you get an Algo Bot. The Bot will do the work of connecting and interacting with the exchange based on the signals provided to it by the Algo and will either execute a buy or a sell order.
We do not develop the Algo's on UpBots. All of the Algo's are provided by 3rd parties. We provide the bots that execute the algo's and we provide an ecosystem where proven algo dev's and community members can host their algo's for everyone to use. Algo statistics such as profit and loss, average trades per month etc.. are tracked, so it is easy to see the best performing algos.
Yes, anyone who provides services on UpBots such as Algos, signals or copy trades will earn a percent of the profits of everyone using their services, but only on trades that are profitable. This is done through UBXN and smart contracts, currently we are in the final stages of implementing the performance fee system.
For those who are not experts or who prefer to leave their account on auto-pilot, trading algorithms will be available in the algo rental section on UpBots(currently available to stakers). Anyone can develop and rent their own algo bot, however, your algo must pass a quality and safety check by UpBots to ensure it’s of a high standard. If people make profit using your algo you will receive a percentage of the profits made by your subscribers.
If you would like to learn more about renting your Algo's on UpBots please see our our Algo rental doc Here for more details.