Author: Frank, PANews
The dispute over Solana products on Unibot continues. On March 14th, the Telegram Bot project Unibot launched a dedicated robot for the Solana chain called Unisol X, which was synchronized and opened on both Telegram and the Unibot X client, implementing a policy of free transaction fees to attract users.
Just a few days earlier, Unibot announced the end of its collaboration with the Solana team and requested a name change. The reasons included the Solana team launching the "evm_unibot" robot without permission, violating trust; refusing to conduct KYC; and failing to fulfill financial commitments to the Unibot core team and holders. Unibot also stated that there were too many warning signs and it could not guarantee the safety of funds in the Unibot Solana robot.
Solana contributes 90% of the trading volume, market share declines due to team disagreements
Upon the announcement, Unibot's token plummeted by over half within a few hours, dropping from $76.31 to $33.39, resulting in a market value evaporation of approximately $40 million. It is reported that after Unibot announced the termination of the collaboration, the Unibot On Solana team quickly responded, accusing the Unibot official of "pressuring the income of the Solana robot due to its recent success and reduced token tax, and attempting to extort control. Upon realizing this was not feasible, they instead spread unfounded FUD, while announcing that they would launch their own Solana robot." In addition, the Unibot On Solana team also responded to various accusations made by the Unibot official, including security architecture, fund management issues, and KYC.
In the community discussions, there is a clear bias towards Unibot On Solana. Some users pointed out that Unibot's Ethereum income has significantly decreased, while Unibot Solana's income accounts for the majority. In the social media comments of Unibot On Solana, the majority expressed support for the rebranding of Unibot On Solana. In contrast, in Unibot's official Twitter comments, the vast majority accused Unibot of causing the market to collapse and causing significant losses to investors.
Comparison of UNIBOT trading volume before March 11
Since the announcement on March 11, the daily trading volume of Unibot's Ethereum robot has continued to decline, dropping from $5.89 million before the announcement to $1.67 million, a 71% decrease. Meanwhile, the daily trading volume of Unibot Solana robot does not seem to have been greatly affected, even reaching $25.78 million on March 13, close to its all-time high.
Daily trading volume statistics of Unibot Solana robot
Daily trading volume statistics of Unibot Ethereum
Telegram bot product ranking data
From the data, it can be seen that the trading volume of Unibot on Solana previously accounted for over 90% of Unibot's total. After the split, Unbot's ranking in the market directly dropped from third place to seventh.
However, the most direct reason for Unibot on Solana's victory may be the Meme craze on Solana, as the on-chain trading volume through Solana's bot products has reached 79.5%, more than four times that of the Ethereum chain. It is reported that the Unbot official also announced the upcoming release of the official Unibot Solana Bot.
Whether Unibot can regain market share by building its own Solana trading robot remains unknown. Currently, there are multiple competitors on the Solana chain, including Maestro, Banana Gun, Pepe Boost, and Bonk bot.
Previously hit by a hacking incident, exposed to asset security risks
Looking beyond the drama of Unibot's internal conflict, we can see that in the competition between Unibot and other Telegram Bot robot products, users have always been at a disadvantage.
A user with the Twitter ID @CallETHX1000 shared a screenshot of a conversation, in which a user claimed to have lost all their SOL tokens after using Unibot on Solana. In fact, Unibot has previously experienced similar situations.
A user with the ID @cryptowhail claimed to have been a former employee of Unibot, stating: "Due to the incompetence of the ETH developers, when Unibot ETH experienced token approval vulnerabilities. I and the Unibot SOL team repeatedly warned the developers to be careful, and after the Maestro vulnerability occurred, reviewed their code. However, they arrogantly refused and baselessly believed they were safe. When the vulnerability occurred, it was @Reethmos and @mikebot3000 who went through hell to recover every dollar/token lost. Shortly after that, it was when I left." It is reported that on October 31, 2023, Unibot suffered a hacker attack, resulting in approximately $600,000 in losses, which the Unibot team fully compensated at a cost of $1.78 million.
Currently, the cumulative trading volume of mainstream Telegram Bot products has exceeded $8 billion, and Unibot has earned over $50 million in fees since its establishment, fully demonstrating the commercial appeal of Telegram Bot products.
While the platform is reaping substantial profits, a closely watched issue regarding Telegram Bot products is the contribution of private keys to the platform or the generation of wallets by the platform. Fundamentally, this custody model itself poses significant security risks. Even though there have been no cases of the platform absconding with coins, this is still the sword of Damocles hanging over every user's head.
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