How can on chain brokerages drive large scale Web3 adoption? Share .

Since the birth of the Telegram trading robot field, the transaction threshold has been greatly reduced, and the mobile terminal can also easily conduct on-chain transactions. Led a wave of Telegram bots.

This series of articles will provide an in-depth analysis of the Telegram Bot track, divided into two parts, the first part is used as an overview summary of the track, and the second part is the combing of the target.

Since the birth of the Telegram trading bot space, we have witnessed the strength of the tokens of several projects. Unibot, in particular, has begun to climb rapidly since July 2023. According to Coingecko, Unibot's token** jumped from a low of 3 in May$13** to August high of 200$45, which is a nearly 100x increase, led a wave of Telegram bots.

However, as Unibot's popularity faded, Banana Gun came to the fore. After announcing the airdrop in September, its token** climbed from about $9 to a maximum of $18. Although its ** momentum is not as strong as Unibot, Banana Gun still maintains a certain amount of heat for the Telegram trading bot ecosystem.

One emerging force to watch out for is the Solana chain-based Bonkbot, which has around 35,700 daily active users, outperforming established projects such as Banana Gun and Maestro, but also outperforming the decentralized exchange space.

In the competitive field of DEX, Bonkbot's 7-day average daily user volume is second only to Sushiswap, ahead of senior projects such as M**Erick Protocol and Trader Joe. This craze is undoubtedly due to the recent popularity of the Solana ecosystem, coupled with the enthusiastic trading of meme coins on Solana by users, which has further boosted the trading activity of Bonikbot.

And btcbotPro, as the Telegram Bot of the BTC ecosystem, has also been online for nearly a monthPRO also provides users with different features than Telegram bots on ETH and Solana chains, which is worth investigating.

Looking at the Telegram trading bot space, it's clear that it's not a flash in the pan. However, the landscape in this space is constantly changing, and this article aims to sort out the macro picture of the current Telegram trading bot and highlight some projects to watch out for.

According to data analysis, since the launch of Bonkbot, it has been ahead of other trading robots in the market in terms of trading frequency and number of users. Especially in terms of trading frequency, Bonkbot significantly outperforms Banana Gun and Maestro Bot, which are traded about 10 times more frequently.

This outstanding achievement is due to the efficient design of Bonkbot on the Solana chain, which is known for its high TPS and is able to support more frequent transaction processing. At the same time, with the recent rise of meme coins in the Solana ecosystem, Bonkbot has solidified its dominance in the Telegram trading bot market.

Drawing on the success of Bonkbot, a similar copy of the Sol Trading Bot has also been launched on Solana, which has caught up with projects such as Banana Gun and Maestro Bot in terms of trading volume, and has even surpassed both in terms of trading frequency and daily users.

As for Unibot, the available data suggests that its market dominance has waned. However, it is worth noting that the project has already begun to deploy on the Solana chain, which has also slightly driven its trading volume. Clearly, projects that use Solana as infrastructure could be the key to kickstarting the next wave of Telegram trading bot craze.

Despite Solana Bot's outstanding performance, Banana Gun's good performance before the rise of the Solana craze should not be overlooked, with it following Bonkbot on several key metrics.

With the booming cryptocurrency industry, Telegram bot is gaining traction in the cryptocurrency community as an intelligent trading tool. As early as 2017, Telegram bots already had the ability to automatically reply to messages and execute user instructions.

With the rise of the cryptocurrency industry, Telegram has become the most commonly used instant messenger among cryptocurrency enthusiasts. Against this backdrop, Telegram-based trading bots are emerging, which can automate token swaps, copy trading, data analysis, automated airdrop trading, and cross-chain asset cross-chain.

Telegram trading bots serve as an automated system within Telegram that assists users in executing trades on decentralized exchanges. Users interact with these bots through the app's messaging interface.

Different Telegram trading bots offer unique features, but most have common trading features, including stop-loss and take-profit orders, copy trading, and multi-wallet support.

These bots replace the user interface (UI) and user experience (UX) of Web3 wallets and DEXs, simplifying the otherwise complex process of buying and selling decentralized crypto.

These bots make use of advanced algorithms and infrastructure to make fast trades, as they are often called"Uniswap Sniper"。They meet the needs of users for transaction efficiency and convenience. Although what all of these bots have in common is fast trading speeds, they differ in their segmentation capabilities. For example, Unibot offers features like limit orders and mirror sniping, Swipebot focuses on ease of use, and Oxsniper has features like anti-MEV protection. The following are the main uses of trading robots:

Buy and sell tokens:The trading bot is integrated with the Telegram platform, and users can easily obtain tokens by copying and pasting the contract address into the message box. Some bots provide real-time updates on the profit and loss of trades and speed up the sale of tokens by enabling pre-approved transactions.

Set Take Profit and Stop Loss Orders:Users can use these Telegram trading bots to set stop-loss and take-profit orders, allowing trades to be executed automatically based on preset parameters. This feature is particularly useful for trading new tokens that are not yet listed on the CEX, but trading such tokens carries a high level of risk.

Anti-runaway and Pixiu disc monitoring:Some Telegram trading bots have anti-runaway and anti-MEV features. If a token developer plans to run away, the anti-run feature identifies upcoming mempool transactions and quickly executes a sell to prevent them from running away**. The MEV anti-MEV feature guides the purchase transaction through a private relay to ensure that the purchase is not broadcast in the memory pool, thus preventing MEV as a sandwich attack.

In addition, trading bots are able to detect malicious transactions that developers are about to make. If such a transaction results in the inability of the token, the token will be treated as a Pixiu market. The robot will quickly close the position and avoid falling into **.

Copy Trading:Users can automatically copy transactions at specific wallet addresses through certain Telegram bots. This type of robot acts as a bridge between the user's account and the selected trader, executing trades based on the signals of the copy trader. However, it should be noted that copy trading carries liquidity risks, and insufficient market liquidity may make it difficult to execute trades, which in turn will increase transaction costs.

Sniping:Some trading bots can perform liquidity sniping, method sniping, and multi-wallet sniping. Liquidity sniping is an action that is automatically performed when the bot detects an increase in liquidity. Method sniping is automatically executed based on the method ID of the developer's pending transaction. Users can also use multiple wallets to snipe through the Telegram trading bot.

Traders can create automated tasks through bots to achieve airdrop goals. Bots for airdrop mining often operate across multiple chains, identifying promising airdrop opportunities. However, caution should be exercised when participating in unverified airdrops to prevent ** and scams.

Telegram bot functionality has been around for a few years, but recently there has been a lot of interest in integrating Telegram bots with Web3 technologies such as blockchain and smart contracts. Unibot is one of the leading platforms for Web3 Telegram bot development, providing a suite of tools and services to help developers create, manage, and organize bots that can interact with decentralized applications and blockchain networks.

With the rise of decentralized finance and non-fungible tokens, the Web3 Telegram bot ecosystem has become even hotter. These bots can be used for a variety of purposes, such as automated trading, asset tracking and management, social features, and more. By using the Telegram bot API and Web3 technology, these bots can be integrated with blockchain networks and other Web3 applications to provide users with more flexible and powerful features.

The Telegram bot ecosystem is primarily built on top of the Telegram bot API, a set of HTTP-based API endpoints that allow developers to programmatically interact with the Telegram system.

The Telegram Bot API is language-agnostic, which means it can be used with any programming language that can make HTTP requests. Common languages used to create Telegram bots include Python, J**Ascript (Node.).js) and php, etc.

source: medium @srikari rallabandi

In terms of infrastructure, the robot runs on a server, not the user's device. This means that they are always** and can respond to the user's messages instantly. The server can be a cloud server or a native machine, depending on the developer's preference.

Cryptocurrency trading is often considered to be a common problem: the threshold for trading knowledge is high, and it is difficult to achieve universal trading. Compared to ** trading, cryptocurrency trading requires more basic settings, such as creating a wallet, completing KYC and other procedures, which poses a certain obstacle for the general public to invest in cryptocurrencies. Second, even with centralized exchanges, the user interface is relatively complex and lacks simplicity compared to Telegram bots.

Since the advent of Unibot, the project aims to simplify the trading process, focusing on simplifying trading operations as much as possible, with all interactions only required through a conversation with the bot, and providing a fast Uniswap lightning sniper for fast transactions and precise sniping. The convenience of Unibot is that users can trade via Telegram anytime, anywhere, without relying on other trading platforms. This will go a long way towards the long-term adoption of cryptocurrency trading.

Recently, there has been a surge in the trading volume of Telegram bots, which is a testament to the demand for this type of transaction. Especially for those tokens that are illiquid or not yet listed on exchanges, Telegram bots have greatly increased their ** rate. At the same time, it also adds more investment options for traders, forming a win-win situation.

As one of the most popular social apps in the world, Telegram has more than 55 million daily active users, which provides an extremely fertile ground for the development of Telegram bots. Thanks to its wide popularity and user base, Telegram is planning to transform into a WeChat-like super app that supports multiple mini-programs running within its platform. This move not only enhances its functional diversity, but also opens up new avenues for decentralized payments.

To make this ambitious vision a reality, Telegram is partnering with leading tech and cryptocurrency companies, including Ton ** and Tencent Cloud, to expand its global reach and accelerate decentralization. This series of strategic moves highlights Telegram's potential as a key super app in the future of Web3.

Telegram Bot, built on such a powerful platform, will undoubtedly be the beneficiary, promising to convert Telegram's huge user base into a loyal user base of bots, further strengthening its influence in digital transactions and cryptocurrency integration.

When using Telegram bots for cryptocurrency trading, users are exposed to the risk of asset security. These bots usually need to create a dedicated wallet or connect to an existing wallet. In both cases, the bot may gain access to the private key, leading to a security breach.

Private key access risk: These bots have access to private keys, raising security concerns. A private key is similar to a master's key to a user's digital wealth, and its exposure can lead to serious consequences, including theft and unauthorized transactions. The bot's access to these keys significantly increases the risk of a security breach.

The challenge of self-custody:By entrusting bots for wallet creation and private key management, the basic principle of self-custody in the cryptocurrency space is somewhat undermined. Shifting from personal control to reliance on automated systems can lead to a false sense of security, leaving users vulnerable to mismanagement or even malicious activity.

Risk of poor asset management and unauthorized access:Telegram bots are often designed to manage assets without direct user supervision, opening the door to potential mismanagement. Additionally, the lack of strong security protocols can lead to unauthorized access, either through a security flaw in the bot itself or through external threats.

To mitigate these risks, users are advised to exercise caution when using Telegram bots for cryptocurrency transactions. This includes thoroughly researching the bot's security features, avoiding storing large amounts of assets in wallets accessed by these bots, and regularly monitoring trading activity for any signs of unauthorized activity.

While Telegram bots provide convenience and efficiency in trading, they also pose substantial risks to asset security. Users must remain vigilant and take proactive steps to protect their digital assets in this growing field.

For Telegram bots, not conducting a comprehensive and regular security** audit can increase the risk of exploited vulnerabilities. This lack of auditing leads to a lack of transparency and regulation, putting users' assets at risk. In the case of Unibot and Banana Gun, according to Certik, neither project has been audited by Certik, so users need to take on the risks associated with smart contracts.

Because the project did not pass Certik's audit and KYC audits, it scored low in both security and fundamental health.

Banana Gun also has a history of experiencing wild fluctuations in the price of the token in less than 3 hours after its launch, from a peak of 8$7 plummeted to just $0$02, almost close to zero.

In response to this abnormal market performance, the Banana Gun team explained through an official announcement that there was a critical bug in the token contract that the team failed to fix. They added that although the contract has been audited twice, the error has not yet been discovered. This incident also confirms the risks brought about by failing to pass the ** audit.

Unibot selected a less recognized third party for the ** audit and did not conduct a KYC audit. This situation can affect the credibility and security of the project, as less well-known auditors may not be able to provide the same level of audit quality as more reputable institutions. At the same time, the lack of KYC audits also increases the risk of dealing with anonymous or opaque entities.

In the highly competitive Telegram bot ecosystem, the market entry barrier is relatively low, and it is easy to be imitated and copied, resulting in serious homogeneity between projects. In such a competitive landscape, individual bots may face the challenge of user churn, so building strong competitive barriers is a key element. This means that the project needs to have a unique advantage to prevent competitors from intruding into the market.

In the case of BonnBot, its boom in the Solana meme coin space is largely due to its position as a market first mover. However, user loyalty in this area is generally low, and they are more likely to choose services based on product performance and potential revenue rather than brand loyalty. This means that users will quickly move on to other platforms as soon as better trading conditions or more attractive opportunities appear. This is precisely the key reason why platforms like Unibot or Maestro Bot have failed to stay ahead of the curve.

In summary, although the Telegram bot space as a whole presents promising growth potential, it doesn't mean that every project will stand out from the competition. Therefore, investors need to be aware of the potential investment risks of each project when getting involved in this field, and at the same time, they should also be aware of the undesirable nature of this market.

Market saturation and the formation of leaders:With the increasing competition of Telegram bots in the Solana ecosystem, the participation of well-known projects including Unibot, Banana Gun has saturated the market. In such an environment, only a handful of projects survive, requiring each project to develop a unique roadmap and value proposition.

Personalization & Innovation:Projects must differentiate themselves through personalized services, technological innovations, or better user experiences to attract and retain users.

The impact of policy and market sentiment:Benefiting from positive policy news, the cryptocurrency market is gradually entering a bull market. This will attract more** investors to the market, which will benefit the popularity of tools such as Telegram Bot.

Market Positioning and Popularity:Given that Telegram bots are designed to simplify the cryptocurrency trading process, their appeal to the average Web 2 user will increase as they enter the market.

Positive trend in the Bitcoin market:The Ordinals inscription market is expected to grow further as it benefits from Bitcoin's positive moves and news.

Initial Markets and Opportunities:As the Bitcoin's Telegram bot market is still in its early stages, we remain optimistic about the future. This offers a huge opportunity, especially for projects that can quickly adapt to market demands and innovate their services.

Overall, while the market is highly competitive, it also means that there are plenty of opportunities. For the Telegram bot project, it is important to identify and capitalize on these trends while continuously innovating and improving to remain competitive and attractive in the market.