Unitrade F.A.Q
How to use Unitrade?
Unitrade.app Tutorial — You can follow this simple tutorial made by Jeff, it will show you how Unitrade.app works https://youtu.be/D4YlLTWw5H0
Info.unitrade.app Tutotrial — You can follow this simple tutorial made by Passive Base, it will show you how Info.unitrade.app works- https://youtu.be/PHOLgILC3bg
What’s the processing fee?
The processing fee is the gas price that will be used to execute the limit order once the price target is met. It is recommended to place a higher price than the “Estimated” or “Medium” to ensure that you will face no problems if the Gas standard varies.
Limit Order Miners will take their share of the processing fee when executing your order.
How much Unitrade charges?
Unitrade charges an additional 0.2% of your order, we only take this fee after your limit order is successful and you receive your target token.
Unitrade has nothing to do with the gas charged for contract approvals or transactions, learn about Ethereum gas at https://ethgasstation.info/blog/what-is-gas/
How do I cancel an order?
On Unitrade.app — To cancel an order in Unitrade you need to go to Unitrade.app, click on the dashboard “Overview” located at top right below the settings icon (https://unitrade.app/overview) there you’ll find your orders and a cancel button right next to it.
On Info.unitrade.app — To cancel an order in Unitrade you need to go to Info.unitrade.app, click on any token pair, scroll below where you place limit orders and you’ll see your pending orders — right next to your order you will see a cancel button.
Where can I submit bugs / suggestions?
We have a dedicated telegram group for bugs and suggestions, where you can freely report any issue or what you want to see on the platform. The group is — https://t.me/UniTradeAppBeta
What is the Order Miners Bot?
The Order Miner Bot executes limit orders in Unitrade and earns the unused gas (ETH) placed in the “Processing fee” section of the limit order. Any user can build their own bot following our instructions.
You can read more about it in this article — https://unitradeapp.medium.com/unitrade-order-miner-open-sourced-2e0c072ec782
Disclaimer: there can be no guarantees made by Unitrade that mining bots will be profitable due to a variety of external factors beyond our control. This article should not be construed as business or financial advice.
Why there are 2 different versions of Unitrade?
We have 2 different UI for you to decide where you want to trade on — Unitrade.app is really simple and straightforward, you an make your limit orders without having to go through a learning curve. Meanwhile, info.unitrade.app is more complicated but it shows more details of the tokens and uses charts, it is more detailed that our “app” version.
Both platforms will coexist and they both generate fees that goes towards the buy + burn and staking function.
How can I see how many orders are in Unitrade?
You can verify how many tokens are inside the Unitrade Orderbook at — https://etherscan.io/address/0xc1bf1b4929da9303773ecea5e251fdec22cc6828
All tokens in the contract are inside limit orders that are waiting for the desired price target to meet in order to be executed by the contract.
What is the token burning / how often does the burning occur?
Unitrade uses the 60% of the fees generated by the platform to buy TRADE in the market and burn it, decreasing the total supply of trade. This event happens every day!
You can verify how much it has been burnt so far in the “UniTradeIncinerator” contract at — https://etherscan.io/address/0xc54fa7403b020e78828886becd99b6caaa1433cb
The contract automatically buys TRADE from the market using the fees generated by the platform and it is burnt since the contract has no withdrawal feature / no one can use those TRADE tokens.
What is staking / How does staking trade works?
You can stake your TRADE at rewards.unitrade.app and earn a share of the fees generated by Unitrade in ETH. You’ll have to lock your trade for 30 days (Fixed time) and your trade will start generating rewards for you!
The staking process consist on 2 transactions, the first one is the contract approval to spend TRADE and the second one is the TRADE deposit into the locking contract.
Notes:
You can withdraw your rewards at any time but it will reset your 30-day lock
You can add more TRADE at any time but it will reset your 30-day lock
You can leave your TRADE in the contract after the 30 days and it will continue generating rewards.
What is the Staking APY?
The Staking rewards depends on the usage of the platform and amount of people staking their trade. Stakers earn 40% of the fees generated by Unitrade.
Where can I see the Unitrade Contracts?
Burn (60% fees)
https://etherscan.io/address/0xc54fa7403b020e78828886becd99b6caaa1433cb
Staking (40% fees)
https://etherscan.io/address/0x6e6a543d755448fc256cfc54eccead4e589477b7
Unitrade’s orderbook
https://etherscan.io/address/0xc1bf1b4929da9303773ecea5e251fdec22cc6828
Why my order didn’t execute?
Gas is the most likely reason. Gas price depends on how congested the Ethereum network is at the time of doing the transaction, when placing a limit order, you are depositing a processing fee to execute your order and it’s possible that this is not high enough for your order to go through when the price is met.
It is recommended to place a higher “processing fee” to ensure that your order will go through without troubles when your price target is met. We also added a “executions risk” right next to the order that will inform you if the Gas used is too low.
The site https://ethgasstation.info/ is a good resource to know the state of the Gas prices.
