Uptrace is an open-source Application Performance Monitoring (APM) tool that supports distributed tracing, metrics, and logs for complex distributed systems, including Redis. It offers a user-friendly interface, automatic alerts for critical infrastructure, and customizable metrics such as memory usage. The platform provides features like optimized storage, improved sharding, and cold storage support to reduce costs and optimize performance. Uptrace is available in both open-source and enterprise cloud versions, with the latter offering more features and support options.