According to Coingerk data, Unibot token UNIBOT has soared 50 times from $3 in May to a peak of $148 on July 24. Recent data shows that the number of users of Banana Gun and MaestroBot has surpassed Unibot, especially Banana Gun, which quickly became popular due to the token pre-sale announcement. In the context of the overall sluggish performance of the crypto market, the Telegram Bot track continues to soar in popularity. So, why is Telegram Bot so popular? What is the reason behind this popularity? How will the Telegram Bot track develop in the future?
The market is sluggish, and the rise of Unibot drives the Bot track
Telegram Bot is a robot that provides various DeFi trading tools on Telegram. Users can enter wallet mnemonics and execute various instructions, such as token swaps, copy trading, analysis, automatic airdrop transactions, cross-chain assets and other automatic operations. At first, the leader of the Bot track was MaestroBot, but its performance has been average. Data shows that from November to December 2022, MaestroBot's average daily income was about 4-5 ETH, and from January to February 2023, it fluctuated between 6-10 ETH.
However, with the addition of Unibot, it changed the economic model of MaestroBot and boosted the popularity of the Bot track. Unibot introduced a new token economic model, which made the Telegram Bot track popular. Unibot's main income comes from two ways: robot transaction fees (Bot Fee) and transaction taxes on the native token UNIBOT. The former is that Unibot charges a 1% fee for each transaction, of which 40% is allocated to token holders; the latter means that all UNIBOT token transactions need to pay a 5% tax, of which 1% of the transaction volume is allocated to token holders, and the token holding balance must be greater than 50 UNIBOT to be eligible for revenue sharing rewards.
Unibot's economic model reform has achieved great success and has been recognized by the industry. The wealth effect of the Telegram Bot track has continued to expand. According to Coingerk data, Unibot's token UNIBOT has soared from $3 in May to a peak of $148 on July 24, an increase of about 50 times. Subsequently, the hype of Bot trading projects in the crypto industry emerged, and a large number of trading robot projects such as Telegram Bot and Discord Bot emerged in a short period of time. These Bot projects have obtained huge returns in the short term. For example, the token LOOT of the robot Loot Bot, which helps users to swipe airdrops, once rose by as much as 4 times in a single day.
Regarding the popularity of projects such as Unibot, Bobby ONG, co-founder of Coingecko, once commented: "One of the biggest pain points in introducing the retail industry to cryptocurrency is that it is too difficult to use wallets and interact with DeFi protocols. After experiencing Unibot a few weeks ago, I think I now know how the next wave of billions of new users will interact with cryptocurrency. The idea of Unibot is simple - build a fast and simple wallet on Telegram and tightly integrate with DEX to reduce the risks of buying junk coins and copying traders. For me, it is indeed much easier to do DeFi transactions on my mobile phone now."
Why is the Telegram Bot track so popular?
The main rising factor in the crypto market this year has been mainly the hype behind technological innovation. One of the most notable hype hot spots in the first half of the year was Bitcoin Inscription. According to Dune data, the BRC-20 protocol has continued to grow since April 21, and the share of non-Ordinals protocols once accounted for as high as 84.2%. Subsequently, the BRC-20 protocol grew significantly, with the highest proportion reaching 65.3%. BRC-20 competitors in the market have begun to emerge one after another, such as BRC-21 and ORC-20.
Unlike BRC-20 tokens, Telegram Bot has certain practical value, so the hype expectation is more promising. As one of the most widely used social software in the crypto circle, Telegram has a huge market demand for auxiliary trading tools such as trading robots for many new users. However, from the data, the popularity of Unibot is largely the result of hype rather than a big outbreak of actual use cases, because the market is in a bear market as a whole and trading is still relatively weak. According to data from Dune@whale_hunter, since Unibot was launched in May, it has earned a total of 3,280 ETH in revenue, worth $6.08 million, with a total transaction volume of $85.76 million. Data shows that more than 80% of the fees captured by Unibot come from transaction taxes on UNIBOT tokens (each UNIBOT token transaction is subject to a 5% transaction tax), and less than 20% of the revenue comes from its declared transaction fees. The transactions performed by the Unibot trading robot mainly involve memecoin tokens.
Judging from the recent popular Banana Gun and MaestroBot projects, they are still the result of hype. Banana Gun is one of the trading bots, which is basically similar to the general functions of other trading bots. The main innovation lies in the token economic mechanism. Overall, it is still the hype of new coins. UNIBOT token holders must hold more than 50 UNIBOTs to be eligible for revenue sharing rewards. Under the token mechanism of Banana Gun, token holders can get revenue sharing on the official DApp, including 40% of the robot's revenue and 50% of the tax revenue; in addition, users can also get a certain number of token rewards when they purchase or block new projects through Banana Gun. As the leader of the Telegram Bot track, MaestroBot has not yet issued tokens. The market generally expects that it will eventually issue tokens, which has also triggered excitement in the market.
Overview of the main projects in the Telegram Bot track
The Telegram Bot track is developing rapidly and can be divided into several main categories, including DeFi, data analysis, airdrops and transactions, and others.
DeFi
Unibot (Trading)
Banana Gun
WagieBot (Trading and Tracking)
Boltbot (Trading)
0x Sniper (Transactions)
NitroBot (Trading)
Xbot (custom trading)
ASAP (Discord only)
SwipeBot ($ETH, $ARB, $BSC AI trading)
Bridge Bot (cross-chain)
AI DEV (AI trading, token issuance)
All In (AI Trading)
Data Analysis
Cipher Protocol (Analysis)
NeoBot (Analysis and Tracking)
Meowl (analysis and tool suite)
TokenBot (social trading)
Trace AI (AI analysis)
Scarab Tools (Analysis)
BlackSmith (AI Analysis)
TrackerPepeBot (AI analysis and contract security detection)
DAGMI (Tracking)
First Sirius (Analysis)
The DIG (Token and NFT Analysis)
WallyBot (Wallet Analysis)
Airdrop Ambush Trading
Farmer Friends
LootBot
alfa.society (with airdrop tips)
other
EnigmaAI (customizable AI for trading on CEX)
NexAI (a set of AI tools)
0x1 (Multi-function)
MagiBot (Privacy)
There are many projects in the Telegram Bot track. Here is a brief introduction to some of the distinctive projects. Unibot provides functions such as limit orders and mirror sniping, SwipeBot focuses on ease of use, and OxSniper has functions such as anti-MEV protection; LootBot solves the problem of low efficiency of manual airdrop harvesting by automatically participating in airdrops and harvesting, which is innovative; GenieBot uses AI technology to answer various encryption knowledge questions raised by users.
Future Trends of Telegram Bot Track
The market is full of confidence in the future development trend of Telegram Bot. Here are some opinions from experts and big Vs for reference:
Crypto analyst Asher said that the Bot track may have several potential profit directions in the future:
MaestroBots has a weekly revenue of $1.1 million and may launch tokens in the future, which is likely to trigger a new round of Bot-type token airdrop effect.
Unibot's new trading terminal Unibot X is being integrated with GeckoTerminal, aiming to create a one-stop trading bot, and will add more horizontal functional expansions in the future.
As Bot tokens are welcomed by the market, the trend of listing on centralized exchanges (CEX) is rising. In addition, Twitter Bot is gradually becoming mainstream, and the influx of new users is expected to further promote the development of the Bot track.
Crypto Skanda (@thcryptoskanda) tweeted that Telegram Bot is the first large-scale viable deployment solution for Crypto's decentralized front end. It may be the great evolution of the second "Ponzi scheme" after DeFi.
BTCdayu (@BTCdayu) tweeted that the Bot track is very popular recently, with Master Bot leading the way, and UNIBOT and Banana Gun competing fiercely. Don’t worry too much about who is the leader, because the cake is not ready yet. Now that the market is at its coldest, the income of the front-row bots is very high. What if the market picks up? The number of users is expected to increase tenfold, and it will just be the beginning. A larger trading volume means higher income, higher coin prices, more transactions and more users.
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In short, the future market demand for Telegram Bot is expected to be very large, but there are certain doubts about the sustainability of the current trading bot business. Taking Unibot as an example, its current main income depends on taxes brought by token speculation, and most of the transactions executed by Unibot involve memecoin tokens. In addition, the degree of decentralization of trading bots is limited, and security is also questioned, because using trading bots requires importing mnemonics into these "centralized applications", which may increase the risk of users.
