Smashing the Market in Disagreement: Unibot Team’s Discord Leads to Over 50% Drop in Cryptocurrency Price

Smashing the Market in Disagreement: Unibot Team's Discord Leads to Over 50% Drop in Cryptocurrency Price

Smashing the Market in Disagreement: Unibot Team's Discord Leads to Over 50% Drop in Cryptocurrency Price

Author: Luccy, BlockBeats

On March 11th, the Unibot mainnet team and the Unibot On Solana team announced the termination of their partnership, parting ways. This news sparked a large amount of discussion in the community, and the price of UNIBOT plummeted. According to Tradingview data, at the time of writing, the price of UNIBOT hit a low of $33.56, with a decrease of 56% from yesterday’s high.

Core team and Solana team part ways

This sell-off turmoil originated from the dispute between the Unibot mainnet team and the Solana team.

At the end of last year, Unibot announced plans to launch a dedicated robot designed for high-speed trading on the Solana chain, leveraging its important partnerships with Jupiter and Birdeye. On January 2nd, Unibot launched the Solana network trading bot tool “Unibot on Solana”, with advisory support from Primordium Group, and opened the first stage of access to early users.

As holders of UNIBOT, the Unibot On Solana team chose to continue their development under the Unibot brand and reached an agreement with the Unibot mainnet team to independently operate the robot on Solana, ensuring security, scalability, and faster delivery. Since the start of the project, the Unibot On Solana team has been responsible for brand building, announcements, partnership relationships, and community growth strategies.

However, the Unibot core team announced the termination of cooperation with the Unibot On Solana team, requesting a name change, and announced the internal development and operation of Unibot on Solana. Subsequently, the Unibot On Solana team also announced the rebranding and complete separation from the Unibot mainnet team.

Slow mainnet development, revenue distribution as trigger for dispute

Regarding the termination of the contract, the Unibot core team stated that the Unibot On Solana team launched the unauthorized “evm_unibot” Blast robot and users reported inability to withdraw funds, which constituted a breach of trust. In addition, the Unibot On Solana team refused to undergo KYC certification. Most importantly, despite multiple attempts by the Unibot core team to collect fees, the Solana team failed to fulfill the promised revenue distribution to UNIBOT holders.

The Unibot core team believes that this violates the core values of Unibot. However, the Unibot On Solana team describes it as an “attempt to extort control”. It can be seen that the core of the dispute between the mainnet team and the Solana team lies in the allocation of robot revenue.

According to Dune data, since the establishment of the Unibot On Solana project, its trading revenue has been on the rise, and the total trading volume has always been greater than that of the mainnet. In addition, the usage rate of the mainnet robot continues to decline. Therefore, Unibot On Solana believes that the mainnet team is intentionally pressuring them, attempting to control the revenue of the Solana robot, and spreading unfounded panic information (FUD) after the plan becomes unfeasible.

The Unibot On Solana team explicitly refutes these FUDs in their statement, emphasizing that the security architecture and control remain unchanged, funds are safe, and the infrastructure can support over 10,000 daily active users. The team has also passed KYC certifications from multiple key business partners. Given the negative culture created by the mainnet team and the continued decline in usage of the mainnet robot, the Solana team has decided to rebrand and completely separate from the Unibot mainnet team, while promising to continue distributing the revenue share of the Solana robot to UNIBOT holders.

This article is authorized and reproduced from BlockBeats.