Being a developer certainly is not for the faint of heart. There are tons of hours involved, lots of bugs to squash, and seeing your latest project crash right in front of your eyes is heartbreaking.
You need to give major props to algo devs for the work they put into their craft. It can take days, weeks, or even years to create high-performing trading bots.
Since devs play such a major role in designing these handy tools, they should be rewarded properly for their efforts. While a simple “thank you” is appreciated, most algo devs would like some monetary rewards.
How can trading algo devs get rewarded?
The type of compensation algo devs receive can depend upon what they choose. Some platforms may make a one-time payment for one algorithm. If the dev wants to go into business for themself, selling or renting out their bots is another option.
While receiving cash rewards in return for algos seems great, it’s still only a one-time payment. Is this really fair considering all that work put in? Going into business for yourself may sound appealing too, but not everyone wants to juggle all that responsibility.
Let’s think of the user here for a second too. How could you let users know that your algorithm is one of the best on the market without paying for promotion? Just because you built it doesn’t mean people know of it.
In the end, even though you’re a top-notch trading algo dev, taking these things into consideration is important.
Let’s talk performance fees
So you’ve crunched a solid six months into creating your algorithm and now you’re looking to earn some cash for it. Why not consider passive income options?
The performance fee system designed by UpBots allows algo devs to use their projects to establish revenue streams. Their trading bot rental service provides their user base with quality ratings, so they’ll know which bots are reliable.
Basically, UpBots provides devs with a place to put their algorithms in front of users. This means if you’ve put in the proper love and care to your algo and its performance is good, then more users will flock to it. As more users trade using your algorithm then that means you’ll earn more through performance fees.
Here is a breakdown of how performance fees work with UpBots. Every time a user earns a profit, fees will be deducted from the winnings with 50% going to the algo dev. These fees will be collected in UBXT, their native token, and sent directly to the developer.
Your algo will basically be making you money while you’re sleeping! If you have several algos up for rental, well that just increases your earning power.
This is just my take on the perf system at UpBots, but always take time to consider the options at hand.
If you’re interested in submitting your algo to UpBots or know someone who might, then be sure to read up on the process.