UpBots AMA Recap
CryptoDiffer team
Hello, everyone!😁
We are glad to meet here
CEO at UpBots, @ben_solfin
and Marketing Director @neilsisson
CEO at UpBots, Benjamin Duval
It’s really a pleasure. Thank you for the invitation
Marketing Director at UpBots, Neil Sisson
Hey everyone!
Looking forward to it!
CryptoDiffer team
Q1: Can you introduce yourself to our community?
CEO at UpBots, Benjamin Duval
Well, I’m Ben, one of the founders of UpBots.
For the background, I am a commercial engineer, specialized in finance, … and in crypto as a trader for almost 10 years now. Time flies …
I’ll let Neil make his own intro 😉
So for the story, It all started in early 2017, when I created Crypto-Addicts, just a simple twitter account about cryptos and trading, which later became 4C-trading with hundreds of users and a community of several thousand people.
In fact, to get the full story, I was just doing this for fun, and then I had a few dozen people following me, then hundreds. As a result, I started offering subscriptions and we developed many trading tools on telegram like bots. Thanks to this, we had a significant growth, until we had about ten people working on the creation of algos, analyses, etc….
Then in 2019, thanks to feedback from our community, we had the idea to work on UpBots, a new generation of trading interface … but most important an one-stop-shop for all the trading and cryptos tools. And that’s when this new adventure started.
At present, we are more than 20 people on UpBots alone with more than 30 people working for our eco-system. And it’s a huge opportunity that I have, because every day is above all a pleasure to see so many people passionate about what we create.
Marketing Director at UpBots, Neil Sisson
Hi I’m Neil, I head up the marketing team at UpBots. I’m a crypto advocate and got involved with UpBots after meeting up with Ben accidentally in Bali a few years ago. 😊 I’ve been working in marketing for most of my life and have had a heap of online businesses over the years.
I’ve always been interested in the bleeding edge of technology and so I was doing SEO before that was really even a term, trying always to find new ways to generate traffic and get attention. I came on board with UpBots because the team mostly. The guys that work on our team are freaking awesome. I love when you meet colleagues that it’s immediately obvious that they are A++ people, with an insane work ethic and smarts to burn. It was exciting to me that I could be involved in a projec that would change the face of crypto investment.
CryptoDiffer team
Q2: Can you briefly tell us what is UpBots in 3-5 sentences?
Marketing Director at UpBots, Neil Sisson
UpBots is an all-in-one platform for the modern trader. It’s an interface that will allow anyone (beginner or advanced) to trade their fave CEX and DEX, as well as put their capital into DeFi investment solutions. It is an aggregation platform
CEO at UpBots, Benjamin Duval
OK, I’ll keep it short and add some elements to the answer of Neil.
Let’s say that, basically, UpBots is a kind of supermarket for trader, where you can find all the possible tool you need as a trader, for centralized and decentralized exchanges, for cryptos, forex, commodities, trainings, bots, algos, etc …
UpBots will offer many tools, most of them unique and innovative in the way we present them.
These include
– connect all your wallets in 1 place (for cryptos, forex, commodities, … – nb: we are not an exchange)
– “free” bots based only on performance fees (no profit, no fees)
– solutions for staking, vaults, swaps, …
– courses and trainings
– the trading of binary options- …
Basically, you will be able to centralize everything in 1 place and present it as intuitively and easily as possible.
CryptoDiffer team
Q3: Let`s now talk about the milestones you have achieved so far and about your upcoming plans?
CEO at UpBots, Benjamin Duval
We have been working on the launch of UpBots for more than a year now.
After a first equity fund raising in March 2019, we started by creating the legal framework (in Switzerland), searching for partners and creating the technical context and the WP. In March 2020, we opened the private sale, and closed it very soon after, winning allies such as Alameda, FTX, CMS group, Taureon, etc … Of course at the same time the all IT team was working on the developpment of the interface.
Now, … well we have the IEO scheduled for Monday 14th, and the first listing for Wednesday normally. Then it will be followed by several other listings and announcements, to arrive in December when the platform will be officially launched.
The platform will soon be available in demo, and currently you can find on our networks a video of the current state of the interface. It is progressing very well and we are looking forward to sharing it with the community.
In 2021, we will integrate many many new features, and add the Forex market,the mobile app, etc … the planning is full for the coming years !
CryptoDiffer team
Awesome, a lot of updates to come out!
Thank you for great answers!
I think it is time to start community questions round!
Cryptodiffer Community
I’m aware of your upcoming IEO on FTX exchange, can you tell us more about it, who can participate, what are the requirements and how can we participate?
CEO at UpBots, Benjamin Duval
Well you will be able to find all the info here : https://help.ftx.com/hc/en-us/articles/360048784352-How-to-Participate-in-the-UpBots-Sale
The rules are the one of FTX, made to have only “good investors”. It avoids to have dumper at the release.
Cryptodiffer Community
Does trading on the UpBots platform differ for those with or without experience?
Marketing Director at UpBots, Neil Sisson
yes! It does. The New Recruit and the Advanced Trader have different needs. There are simple and advanced options for this purpose. What is the same is that we have worked with a team of ninja UX designers to create an interface that is simple for eveyrone
Cryptodiffer Community
Q1. How can Upbot be of help to part-time crypto traders who do not want to spend their whole day in front of the charts analyzing trades & market, and yet wants to make profit?
Q2. What kind of tools will you offer a trader who needs a secure framework that’s favorable to his or her learning about the market?
CEO at UpBots, Benjamin Duval
Q1: The platform is made for any type of trader, from the least experienced to the most expert, and everything has been thought out around that.
If you don’t have a lot of time, it’s very easy, we have a multitude of tools especially for this kind of trader.
And again, it depends on his profile.
Is he ready to take risks? Copy trading could meet his needs. Or renting the algorithm (and everything, he only pays if he makes a profit).
He doesn’t like risk? We have staking solutions, Vault (Yearn) etc … with “safer” returns.
So it’s really for everyone.
Cryptodiffer Community
What are the most difficulties you’ve faced in carrying out Upbots?
Marketing Director at UpBots, Neil Sisson
Building a platform that has the scope of UpBots in an environment like crypto is actually really challenging. Complex systems, complex mechanics when trying to bring together CEX, DEX and DeFi, plus eventually Forex and commodities is actually a massive undertaking. When Ben said earlier on that a year has already gone into this, he means a year of insanely long work days and 7 day weeks, by a team of people. The cool thing is we are very solution oriented and challenges excite us.
The other exciting and challenging thing is crypto is moving at the speed of light. Think about it. DeFi as we know it (YFI, Curve and all those food projects) didn’t exist a few years ago. Keeping pace with an industry moving so quickly is pretty challenging too….BUT that’s what makes me jump out of bed in the mornings
Cryptodiffer Community
1 Can I create an efficient bot myself on UPBOTS platform ?
What if I have little knowledge technologically?
2 Is this a platform for professional traders? What is the effect that ordinary investors who are not trading experts can feel from using the UpBots platform?
CEO at UpBots, Benjamin Duval
Q1: There are several ways to create a bot.
Either it’s a strategy that you developed on TradingView and just connect TradingView to UpBots, or you want to develop it in UpBots and there we will have in 2021 the algo Lab, developed with drag&drop modules for non-developers and a development window for the most expert.
Q2 : the feeling must immediately be: wow it’s simple, I see what I have to do.
But that’s not all, as every trader has a different level, we have also provided more advanced elements with more complex trading options, such as trailings, iceberg strategy, safeties, etc…
In any case, the user flow is designed so that the user is never lost
Cryptodiffer Community
Are there any restrictions to buy the UBXT token? If I buy the token, when will I get it and how can I use it?
CEO at UpBots, Benjamin Duval
There is no restriction as soon as the token is listed. You will be able to find it on several exchanges quickly.
Cryptodiffer Community
Q1. Upbot offers Social copy-trading tool for newbies and busy traders. how easy oa the platform to use for beginners and traders in a hurry? How safe would it be ttading with your bots, can we measure our risk?
Q2. Referrals earn UBXT for both the referrer and the referee! How can we participate in the referral program and how is its rewards schedule?
Marketing Director at UpBots, Neil Sisson
1) We really hope its super easy. That’s our goal. But of course we won’t get everything right first time. That doesn’t matter, what matters is that we will listen closely to our users and adapt and improve quickly in a safe way. When you look at the bot options out there for people who don’t have a huge amount of time to trade, or the capacity to learn how to program their own algo’s, the options are fairly sparse. At least for the newbie. They still get rekt all the time. We’re aiming to change that.
2) Become a user! Every user is automatically given referral IDs and can invite people and be rewarded for that effort. This is an interesting question because our entire mentality towards the platform is to create an ecosystem that rewards everyone who contributes in a positive way. It’s the same for the social copy trading system. If you’re a rockstar trader and you are willing to help newbies you will be rewarded financially for that.
Cryptodiffer Community
Some believe that the use of bots carries a risk of losses due to errors and hacks. How safe are bots and their programming on your platform?
CEO at UpBots, Benjamin Duval
With 4C-trading we already have a long experience with bots and algorithms. We have hundreds of members using our bots every day. Mistakes can’t exist when it comes to people’s money. The biggest risks are mainly those of slippage, for which we are not responsible. But we have safeties, calculating the slippage in advance to warn and avoid unexpected losses. This is one of the examples.
When it comes to security, we follow the strictest rules by encrypting sensitive information several times and performing frequent audits.
Cryptodiffer Community
Does Upbots have any kind of educational campaign planned for a successful experience using Upbots? im new using brokers
CEO at UpBots, Benjamin Duval
We have in fact planned the realization of tutorials that will be available in the courses section. These tutorials will be developed as the platform evolves. We are also counting on the community to facilitate onboarding for everyone.
Cryptodiffer Community
Is the UpBots team planning to attract non-cryptocurrency investors? What is the strategy for raising awareness of UpBots in the non-crypto space?
CEO at UpBots, Benjamin Duval
This is an awesome question. When I joined the project at first I thought that the reason Ben wanted to have Forex and commodities tradable on the platform was to allow crypto investors additional investment vehicles. Haha we had a confusing (for me) conversation where I suddenly realised I had it backwards! The idea of bringing Forex and Commodities as tradable things onto UpBots is to attract non crypto traders onto the platform so it’s super simple for them to also move their capital into digital assets. 😊 Crypto is the future of money.
Cryptodiffer Community
Is UpBots can give signal time to time when theres a best entry to trade specially in Bear market?
next is a serious question for you
How will UpBots solve or maybe fight those bots that manipulating the market?
Marketing Director at UpBots, Neil Sisson
This is an awesome question. When I joined the project at first I thought that the reason Ben wanted to have Forex and commodities tradable on the platform was to allow crypto investors additional investment vehicles. Haha we had a confusing (for me) conversation where I suddenly realised I had it backwards! The idea of bringing Forex and Commodities as tradable things onto UpBots is to attract non crypto traders onto the platform so it’s super simple for them to also move their capital into digital assets. 😊 Crypto is the future of money.
Cryptodiffer Community
What is the long term vision of Upbots bussiness model?
How does Upbots gonna win chalenge against competitors!?
CEO at UpBots, Benjamin Duval
Our long term vision is on two levels:
– the first concerns B2B: we believe that the more we move forward, the more exchanges and other services will focus on the technical aspect, leaving interfaces like us to act as intermediaries with users. It’s two very different jobs to develop a technology and make it public. We are here to make these technologies accessible and easy to use. And that’s why funds like Alameda have invested in us, because they see this change.
– in B2C: we will always be at the top, thanks to our partners, who are becoming more numerous every day, and thanks to a need that no one has yet managed to solve: that of being able to offer all the latest innovations, centralized and decentralized, on one platform.
Cryptodiffer Community
What are the plans of $UBXT in place for global expansion, are you focusing on market at this time? or focus on building and developing or getting customers and users, or focusing on partnerships?
CEO at UpBots, Benjamin Duval
First of all, we focus on the cryptos market, because we know it, we already have a large community there and they are often “first adopters”. Then, once the platform is fully completed, we will go to the Forex market in order to attract new traders … and try to convince them to open a crypto account as well.
And for the focus on partnerships and users, well it’s both of course, and we have enough people in the team for that
Cryptodiffer Community
Why do I have to do KYC to participate in UpBot Token Sale?
Regarding your token sale, can you share with us your tokenomics?
CEO at UpBots, Benjamin Duval
We chose to create an extremely small market cap, and we did it expressly, in order to have the most solid tokenomic possible.
In addition to having elaborated this tokenomic, in agreement with our expert partners, we have different mechanisms that will reduce the number of tokens available on the market.
– token burn
– the hold program
– token locking (the tokens used to pay a subscription will be locked in a smart-contract for the duration of the subscription)
– etc …
I’ll keep it short, but you can check our whitepaper or pitchdeck on our website for more info
Cryptodiffer Community
What are your goals to make crypto money markets safe and accessible, especially to enable large and institutional investors to invest? What do you do to reduce risks and minimize security issues?
Marketing Director at UpBots, Neil Sisson
Another great question. The answer to this is actually longer than I can answer here in one question, but some of the things we can do to make things more secure are:
– Integrate directly via secure API with your fave exchanges and DeFi solutions so that removes phishing type scam danger (or at least the ones where you end up on the wrong url on a clone of your fave exchange)
– There is no security issues with the UpBots platform so long as your login details and 2FA are secured properly.
– We will of course have a full security audit done by an external specialist security company and will have a bug bounty program where we reward anyone who can find exploitable weaknesses in the platform
– We will also have a QA team making sure that the services we integrate with are trust worthy (for example signals providers and DeFi projects)
Cryptodiffer Community
Security is really important part in every platform now so how do you ensure the security of users in your platform?
Marketing Director at UpBots, Neil Sisson
I think I answered this one in the last answer. Of course we will also have the usual security measures in place to protect the user’s account
Cryptodiffer Community
When using multiple exchanges on UpBots, how will the transaction fee be calculated, will it be higher or lower than with a direct exchange?
CEO at UpBots, Benjamin Duval
Hey Serg
As far as “centralized” exchanges are concerned, the fees are obviously those of the exchanges. If you now use a bot that acts “cross exchanges” for example to reduce your exposure to the $ for a trade in BTC/USDT, you will have the fees for both exchanges.
On the other hand, for decentralized trades, we work with dex.ag and ParaSwap to optimize slippage and prices.
Cryptodiffer Community
Does the UpBots bot perform the operations automatically or does he just give the signals to enter and exit the market? Do I need to give him access to my Cex API that I use or is the money deposited into an UpBots account?
Is the algorithm used in UpBots useful for trading in all temporalities and modalities or is it specialized in some type? Is it possible to do scalping using the bot?
CEO at UpBots, Benjamin Duval
Q1: This is a connection of your exchanges on UpBots via API’s.
We are also looking into the automatic creation of an account on an exchange from UpBots, but in any case, we do not do any custody. The exchanges take care of that.
Q2: There will obviously be any kind of strategy. You can create your own, scalping, swing, … or rent it to the community.
Cryptodiffer Community
Most investors want to invest in work products or MVP. What is the status of UpBots products? When will the DeFi, Forex trading app launch?
CEO at UpBots, Benjamin Duval
The V1 of upbots will be public in Decembre. We are working really hard to add as much features as possible. CE/DE will already be there, bots, algos creations, and portfolio management. But many other as well
Cryptodiffer Community
The vast majority of crypto projects are built with the sole purpose of amassing wealth for themselves. So, I want to know what value UpBots is aiming to add to the crypto industry, what will benefit it more?
Marketing Director at UpBots, Neil Sisson
Yeah it’s a little sad to me that there is so much scamming and bullshit in the crypto space. In some corners it really is the wild west. That’s not what we’re about though. If it was we wouldn’t have:
1) a really low market cap of 5M USD
2) the quality of partnerships we have
On the value, I guess time will show you the answer to that. We really want to build a platform that levels the playing field for every trader on it. It is my sincere hope that we get to a point in the future where everybody in the world who wants to build a financial future for themselves and break free of the puta banks and endless downwards credit cycles that they get trapped in, can do that, all supported by UpBots.
The really amazing thing about UpBots is that it has been designed so that the more people that use it the better the token economy gets. That’s better for everyone using the platform
Cryptodiffer Community
Please tell us about your strategic ally and key partnerships? What role do these partnerships play in UpBots’ success?
CEO at UpBots, Benjamin Duval
It’s a huge question, because we have dozens of partners … and even more investors involved.
But I would say this.
For investors, we have been very selective. We turned down over $3 million of investment, simply because we didn’t see the point of having a certain investor with us. On the other hand, we are extremely pleased to have funds like Alameda, which is one of the best allies we could dream of. They have opened a lot of doors for us.
As for the partners now, we are choosing them with the idea that they must be able to bring something important to the community and that their product must be in demand. That’s why we’ve collaborated with Dex.ag, Hxro, Yearn, and many others. All these projects are ambitious and we want to form an ecosystem with them.
Cryptodiffer Community
I was reading through the white paper and I came across the part where it was stated that upbots payment system will be based on success fee, which means you only pay if the strategy given by an individual or a bot maker have a higher success rate right? Or did I get that wrong?
Marketing Director at UpBots, Neil Sisson
Yeah so for social copy trading if you are a rock star trader you will be allowed to share your trades as you make them. Other newbie users can load up a bot on UpBots to follow your trades automatically and when your trades are successful you will be paid out UBXT as a reward. It incentivizes traders to share their knowledge by giving them a financial reward.
Cryptodiffer Community
In your website, I see that UpBots is an Official partner with FTX, could you share me what advantages/benefit for both sides in this cooperation, how could both of you support together?
CEO at UpBots, Benjamin Duval
FTX is one of the fastest growing exchanges. They are at the forefront of innovation and we are proud to work with them. Our collaboration covers different points, but one of them is obviously the integration of FTX on UpBots and the optimization of their service with us.
Cryptodiffer TEAM
Thank you everyone for your questions today!
Stay tuned
CEO at UpBots, Benjamin Duval
Thanks a lot Maks !!!
So much questions … this community is really really great !!!!
Actually, if we didn’t answer to your question, please come on our chat : https://t.me/Upbots
The all team is there to help and answer to your questions
