In-Depth Analysis of the Telegram Bot Sector (Part 2): A Comprehensive Overview of Online Brokerage on the Blockchain

In the previous part of our analysis report on the Telegram Bot sector, we provided an overview and summary of the entire Telegram Bot competition track. This section will delve deeper into the projects to understand the current development status of Telegram trading bots and predict their future trends. Given Banana Gun’s leading position in the race track (in terms of total trading volume), we hope to verify the actual market value and coin price of the Banana Gun project through valuation models.

Moreover, considering the recent active performance of the Solana ecosystem, we will also discuss BonkBot as an emerging project. It has attracted a large number of traders to participate in the meme coin trading frenzy on the Solana platform. This includes a macro overview of the future prospects of the entire Solana Telegram trading bot track.

In addition, given the recent craze for Bitcoin inscriptions, a Telegram bot specialized in trading BRC-20 tokens has emerged. This article also aims to understand its model and development.

1. Unibot

Since its launch, Unibot’s token price rose from a low of $3.13 in May to a high of $200.45 in August, nearly a 100-fold increase. In just two months after its release, it garnered over $6 million in revenue.

This significant financial performance and rapid increase in token value have greatly heightened interest in the Telegram bot field, triggering a widespread speculative frenzy around Telegram bots.

Users can interact with Unibot in a conversational manner to easily post on-chain token trading commands to complete various trading activities on Uniswap. This includes token exchanges, copy trading, limit orders, and private transactions, among other features.

Furthermore, Unibot also offers real-time Ethereum new token alert services, enabling users to conveniently add new tokens and quickly execute sniper trades.

1.1 Historical Events K-Line Chart

The Unibot project initiated a token buyback program in its early stages, aiming to maintain market liquidity stability. However, during the Unibot V2 migration period in July, the project team canceled the token burning function, as it was found to hinder liquidity growth. As a new strategy, the project team reissued the burned tokens and paired them with Unibot/Eth, adding them to Uniswap V2 to enhance liquidity depth.

At the end of the same month, Unibot launched UnibotX, supporting trades in an order book format, providing broader trading liquidity for various tokens not listed on major exchanges.

Despite facing a bear market with the Telegram Bot later on, the token price plummeted, but the project successfully listed its keys trading feature during the September period, taking advantage of the Friend.tech craze.

By January 2024, Unibot successfully expanded to the Solana platform, following the craze for Solana meme coins, capturing a large volume of transactions.

1.2 Economic Model

On May 17, 2023, the project achieved a fair launch of its token, issuing a total of 1 million tokens, all of which were fully circulating from the date of issuance.

Currently, Unibot’s revenue comes from two main sources: robot trading fees (Bot Fee) and the transaction tax on its native token UNIBOT.

For the former, Unibot charges a 1% fee on each transaction, with 40% allocated to token holders; the latter involves a 5% tax on all UNIBOT token transactions, with 1% of the trading volume allocated to token holders, and a token holding balance of more than 50UNIBOT is required to qualify for income distribution rewards.

1.3 Future Outlook

(1) Over-reliance on Token Transaction Tax

Current data analysis shows that about 80% of Unibot’s income comes from token transaction taxes. The project design requires users to pay a 5% transaction tax each time they trade $UNIBOT, so the actual transaction tax borne by users accumulates to 10% during the buying and selling process, becoming the main source of income for the project. However, this also hints at a potential problem: the fees collected from robot services may not be sufficient to sustain its basic income.

Taking Banana Gun as an example, this project has managed to stabilize and surpass income from transaction taxes through robot services, thus moving to a 0% token tax model. In the long run, Unibot’s challenge is how to capture more value through robot fees, as this is the core business of the project. Over-reliance on token transaction tax as a source of income is not conducive to the project’s long-term sustainable development.

(2) Unibot on Solana

Unibot also recently announced the launch of a similar Telegram Bot on the Solana platform. Making good use of its advantage as a veteran project, the project has the following prominent features:

Built-in ETH and SOL cross-chain bridge: Essentially merging the original Ethereum-based Unibot with that on Solana, becoming the first Bot project to support both chains simultaneously.

Collaboration with the trading data aggregator platform Birdeye: Able to seamlessly support all projects trading displayed on Birdeye, which I believe is the ultimate feature to enhance user experience and also a crucial turning point for Unibot’s future success in the Solana market.

1.4 Protocol Performance

The trading volume launched on Solana has significantly exceeded that on Ethereum within a week, even by three times, which is a development worth looking forward to in the long term.

2. Banana Gun

Banana Gun is one of the popular Telegram trading bots on the market. It offers two main services: trading and sniping. Through the trading function, users can safely purchase tokens listed on the Ethereum blockchain. The sniping function allows users to be the first to purchase new tokens when they are launched. Banana Gun has expanded from supporting only Ethereum to recently adding Solana. Below are some interpretations of its detailed features:

First Bundle or Fail (FoF):

Targets the first purchase (0 block) at the start of trading, requiring the participation of at least 10 wallets to be effective. Not applicable to MEV or Deadblock releases.

FoF Backup:

If the FoF function does not trigger during an MEV or Deadblock release, the backup function will make a purchase at the next available block, using backup miner fees.

Slippage:

Allows for a price fluctuation range of 0-99% in issues without a maximum transaction limit. Setting it to 100 is equivalent to “infinite” slippage.

Degen Mode:

Once this feature is activated, users can buy transactions known as “honeypots” to block zombie users. If this setting is enabled, the bot will ignore the security tax settings and purchase even if the token cannot be sold.

Max Transaction or Revert (MaxTx or Revert):

Limits purchases to the maximum expenditure. If the token’s maximum transaction amount exceeds this limit, the transaction will be reverted.

Minimum (MinToken):

Sets a minimum number of tokens or percentage for purchase. If the maximum expenditure cannot meet this minimum, the transaction will fail.

Anti-Rug:

Attempts to sell the token before a potential scam if the tax exceeds safe settings or there are signs of fraud.

Transfer on Blacklist:

If a user’s wallet is blacklisted, this feature will transfer the tokens to a predetermined “transfer wallet.”

Pre-Approve:

Automatically approves tokens after a snipe purchase for faster selling.

Snipe Settings:

Allows adjustment of current snipe settings without affecting other pending or future snipes.

2.1 Historical Event Candlestick Chart

Smart Contract Vulnerability Leads to Price Drop (September 11, 2023):

Hours after the airdrop distribution, due to a vulnerability in the smart contract that erroneously allowed users to sell their assets while still retaining the tax tokens in their wallets, the price of $BANANA severely dropped to $0.03.

User Milestone Achieved (October 20, 2023):

With Banana Gun reaching the significant milestone of 30,000 permanent users, it also marked the beginning of a price increase phase for the future.

Trading Volume Peaks (November 27, 2023):

Continuing the upward trend, on November 27th, Banana Gun’s daily trading volume reached a peak of $18 million, demonstrating the project’s high activity level.

Listed on Centralized Exchange (December 5, 2023):

$BANANA was listed on Huobi.

2.2 代币分配

代币初次发行价是 $0.65，距离现在已经有约 20 倍的升幅。

The team’s share will be unlocked in two phases, with the specific arrangements as follows: The first phase will start in 2025 and last for 3 years, accounting for 5% of the initial token supply. The second phase will start in 2031, also last for 3 years, and will also account for 5% of the initial token supply.

2.3 Protocol Income Sources/Token Use Cases

Bot Transaction Fees:

Banana Gun’s Bot service incurs fees, as follows:

1. Manual purchase transactions are subject to a 0.5% fee.

2. Automatic sniper transactions are subject to a 1% fee.

Of the total bot trading fees collected, 50% is distributed to token holders, providing them with a passive income stream. This incentivizes trading through the bot.

Extra Cash Back:

Users who trade through the bots are eligible for extra cash back. The cash back amount is determined by the formula: fees paid * multiplier. The multiplier ranges from 0.05 to 1, allowing for cash back of up to 100% of the fee paid, depending on a randomly generated multiplier value.

0% Token Tax Model:

Banana Gun recently announced a significant adjustment to its fee structure, transitioning to a 0% token tax model. Several factors influenced this decision. Initially, the project relied on token taxes as a revenue source during bear markets when bot activity was limited. However, as market conditions improved and bot revenue consistently outpaced taxes, the project team re-evaluated its approach.

The suspension of token repurchase activities, which were previously funded primarily by token taxes, reflects the pivotal role that $BANANA token holders will play in determining the token’s deflationary strategy in the future.

Abolishing the token tax is a strategic move aimed at enhancing the project’s attractiveness and efficiency. The benefits of this new model include increased trading volume due to the absence of trading fees, reduced slippage for traders, easier integration with centralized exchanges, and greater exposure of the token. This expanded exposure is expected to draw more users to the bot, fostering a cycle of growth and engagement.

Following the announcement of this new measure, annualized returns for $BANANA holders fell to 21%, roughly one-third of the peak return of 72%. However, an annualized yield of 21% is still an attractive return for token holders. This approach appears to balance the immediate reduction in returns with the prospect of continued, healthy returns driven by increased bot activity and broader token adoption. Removing the token tax is expected to increase the Bot’s trading volume, which in turn should increase the transaction fees generated by the Bot. This strategy is expected to provide stable and substantial annualized returns over the long term.

2.4 On-chain Data

On-chain data analysis provides a detailed understanding of $BANANA’s distribution and liquidity transfers, critical for comprehending the token’s overall health. Key indicators such as token holder distribution, transaction frequency, and liquidity trends are gleaned from this data. Through these insights, we can more accurately assess market acceptance, holder diversity, and liquidity stability, bolstering investment decision-making.

Additionally, apart from the top ten address holders, the data reveals that approximately 60% of tokens are locked in the UNCX Network, with an additional 10% of team tokens also locked. It’s noteworthy that more than 70% of liquidity remains locked, necessitating investor attention to future linear unlocking schedules, as highlighted in Token Economics.

The token distribution of $BANANA depicted in the above figure illustrates a decentralized structure, with even the top ten holders each possessing less than 1% of the total tokens. This indicates that the token is not excessively centralized and is less susceptible to malicious manipulation.

Over the past months, there has been a consistent increase in the number of smart money addresses. This growth has led to a rise in the total count of smart money positions from 56,143 to 71,327 since December.

In contrast, the top ten holders of $UNIBOT hold a larger proportion, comprising nearly 20% of the total.

In summary, the token distribution of $BANANA demonstrates a certain level of dispersion and health. Despite the presence of locked tokens, there is also a growing trend of “smart money” involvement.

2.5 Comparable Analysis

To more precisely estimate the fair value of $BANANA, we employed a comparable analysis method, selecting blockchain projects of similar size and nature for comparison. Our primary evaluation criteria encompass Price-to-Sales and Price-to-Earnings ratios. Our chosen projects fall into two categories: Trading Bot projects akin to $BANANA, such as Unibot and Maestro Bot, and decentralized exchange projects, including Uniswap, Sushiswap, and Pancakeswap. Notably, considering the correlation between Trading Bot projects and decentralized exchanges (with the former mirroring Uniswap), this bolsters the reliability of our comparative analysis, enabling a more accurate assessment of $BANANA’s market value and investment potential.

The comparative analysis above delves into the valuation of various projects based on Price-to-Earnings and Price-to-Sales ratios. Given that the three Trading Bot projects have less than a year of operational history, we annualized their fees and revenue to facilitate comparison.

In this context, Banana Gun’s annualized total revenue amounted to $21.08 million, indicative of its robust revenue-generating prowess. Particularly noteworthy is that, owing to the project’s mechanism, which allocates a relatively high proportion of income to token holders, the total annualized income for its token holders stands at $9.22 million, the highest among similar projects. Notably, Unibot and Sushiswap exhibit outstanding performance in this regard.

Furthermore, from a Price-to-Earnings perspective, Banana Gun boasts a lower ratio compared to the average of similar protocols, hinting at potential undervaluation by the market.

Post-valuation, the potential price range for $BANANA is estimated at $10.12 to $10.37 based on the Price-to-Sales ratio. Simultaneously, through Price-to-Earnings ratio analysis, we calculated a potential price range of $13.73 to $23.52 for $BANANA.

2.6 Future Outlook

(1) Launch on Solana

Source: Banana Gun Twitter

Banana Gun has recently introduced its Telegram Bot on Solana, mirroring the footsteps of Unibot. In contrast to offering SOL/ETH cross-chain services, Banana Gun opted to incentivize $BANANA holders with $SOL rewards on the Solana blockchain. Users can link their Solana-enabled wallets to claim these rewards.

Source: Dune Analytics @whale_hunter

Data from Dune Analytics, courtesy of @whale_hunter, illustrates the enthusiastic response from users one week after the Solana platform’s launch. Approximately 1,700 new users were attracted, bringing the total user count to over 4,000. This achievement is attributed to a key promotional strategy: new users referred on Solana can earn 50% of their transaction fees during the first two weeks. For instance, if the trading robot generates a total fee of $400,000 in the initial week, with $300,000 stemming from referrals, Banana Gun will redistribute $150,000 to the referrers in $SOL tokens. This strategy, aimed at drawing new users in the early stages, is evidently successful based on these metrics.

Considering the price surge of Unibot following Solana’s launch, it is reasonable to anticipate a similar upward trajectory for the $BANANA token in the future.

Moreover, providing a substantial bonus to earnings during the first fortnight serves as an enticing incentive for $BANANA holders. This strategy is poised to positively impact the token’s price in the short term, sparking market interest and investment fervor. Consequently, trading activity surrounding the $BANANA token is expected to rise significantly, thereby augmenting its market liquidity. Furthermore, this yield-enhancing strategy may entice new traders into the market, further bolstering the market value of $BANANA.

(2) Cooperation with DEXTools

Source: Banana Gun Twitter

In another development, Banana Gun has forged a collaboration with DEXTools, marking a significant milestone for the project. DEXTools, renowned for its efforts to democratize access to transactions, has selected Banana Gun as its partner. This partnership holds several bullish implications for Banana Gun:

• Strengthened market position: The partnership with DEXTools, boasting a substantial user base, has significantly bolstered Banana Gun’s exposure. This alliance not only enhances the visibility of Banana Gun but also positions it as a credible and technologically advanced trading solution in the market. The endorsement by a reputable platform like DEXTools underscores the quality and reliability of Banana Gun’s technology and safety features.
• Increased exposure and user base: Through collaboration with DEXTools, Banana Gun has gained access to a wide user base, resulting in a notable surge in exposure. This heightened visibility has the potential to draw more users into Banana Gun’s ecosystem, consequently fostering an increase in the number of token holders and active traders.
• Increased trading volume: The integration of Banana Gun’s trading functionalities directly onto the DEXTools platform facilitates seamless trading and execution of limit orders for DEXTools users. This ease of access is poised to drive up trading volumes for Banana Gun, thereby augmenting the token’s liquidity and overall market activity.
• Price Appreciation Potential: With the uptick in usage, heightened trading volume, and improved visibility, the Banana Gun token stands to appreciate in value. As more traders and investors engage with Banana Gun via DEXTools, the demand for the token is anticipated to surge, potentially driving its price upward.

3. BONKBot

BONKbot, deployed on the Solana network, is a Telegram Trading Bot facilitating transactions with ease and speed. The project operates using the $BONK token, initially distributed as a free airdrop to the Solana community on Christmas 2022. Since its inception, $BONK’s adoption has experienced exponential growth, finding utility across various sectors including DeFi, gaming, and payments.

As an official partner of the $BONK community, BONKbot offers users a range of features:

1. Minimum Position Value: Users can set a minimum position value in their portfolio, with tokens below this threshold being hidden. This feature proves useful when users wish to retain certain tokens, even if the investment underperforms.

2. Automatic Purchase: Upon pasting the token address, the system executes the purchase operation immediately, eliminating the need for confirmation.

3. Button Configuration: Users have the ability to customize buy and sell buttons on the dashboard, simplifying token transactions.

4. Slippage Configuration: Users can customize slippage settings for both buy and sell operations. Slippage refers to the difference between the transaction price and execution price, and proper configuration aids in controlling transaction costs effectively.

5. MEV Protection Function: In collaboration with Jito Labs, BONKbot offers advanced MEV protection functionality. This feature accelerates transactions and safeguards against front-loaded transaction attacks by default. MEV protection provides users with two modes:

   • Turbo Mode: Transactions are routed through Jito to ensure front-end transaction protection at the fastest speed possible. If normal transfer speed exceeds this, MEV protection is not enabled.

• Secure Mode: This mode guarantees transaction protection under all circumstances, even if it may slightly slow down transaction speed. Users can expedite transactions by increasing the bribe amount.

Users can select the preferred mode and prioritize transaction levels: medium, high, or very high. For advanced users seeking granular control, BONKBot offers customization options for transaction priorities.

3.1 Historical event K-line chart

Initially airdropped to Solana community members as a meme coin, $Bonk has since garnered attention from various projects. However, its notable price surge primarily stems from its recognition and adoption by centralized exchanges. Notably, two major trading platforms, Coinbase and Binance, have both mentioned and listed $Bonk, significantly bolstering the development of the Bonk ecosystem and fostering wider adoption.

Taking BONKBot as a case in point, it has selected $Bonk as its primary token and implemented a mechanism utilizing transaction fees for token repurchase and destruction. This initiative not only amplifies the utility of $Bonk but also reinforces its value, providing essential support. Consequently, trading activities not only sustain the operation of BONKBot but also indirectly facilitate the healthy cycle of $Bonk tokenomics.

3.2 Tokenomics

Source: Bonk Whitepaper

The distribution of tokens for $Bonk outlined above specifies how BONKBot allocates 1% of the transaction fee for various purposes:

Source: BONKbot Documentation

• • 30% is allocated to the BONKbot team.
• • 20% is designated for referral fees.
• • 10% is earmarked for immediate destruction of $BONK tokens.
• • 10% is reserved for contributions to the Bonk community.
• • 10% is allocated to cover infrastructure costs and support future development.
• • 10% is allocated to the BonkDAO multi-signature wallet.
• • 10% is directed towards funding BonkLabs.

3.3 Protocol Performance

The transaction volume and revenue of the protocol have experienced a notable surge due to the buzz surrounding BONKBot’s involvement with memecoins. Single-day revenue peaked at US$750K, although it has seen a recent decline.

BONKBot primarily facilitates trading pairs such as SOL/PONKE, SOL/USEDCAR, SOL/OMNI, SOL/$WIF, and SOL/BORK, which essentially consist of various types of memecoins.

3.4 Future prospects

(1) The surge in popularity of Solana Ecological Memecoins

The rise of memecoins within the Solana ecosystem owes much to the influence and flair of Solana founder Anatoly Yakovenko. A pivotal moment in Solana’s embrace of memecoins occurred when Yakovenko donned a costume depicting the “Silly Dragon” at the Solana Breakpoint event, warmly welcoming the meme coin community. This gesture underscores Solana’s inclusive stance toward memecoins, fostering an environment conducive to their growth.

Subsequent to this event, $Silly, a prominent memecoin on Solana, alongside $Bonk, gradually integrated into the fabric of Solana’s community culture. As long as this culture endures, tools like BONKBot, designed to facilitate swift and straightforward token acquisition, will remain immensely valuable. This is particularly pertinent for speculative traders drawn to the high-risk, high-reward nature of memecoin trading. Moreover, the Solana market has witnessed the emergence of new memecoins such as $WIZ and PONKE. The utility of BONKBot in such scenarios aligns seamlessly with the speculative and dynamic characteristics of the memecoin market within the Solana ecosystem.

(2) Drive DEX Raydium on Solana

BONKBot has emerged as a pivotal force within the Raydium ecosystem, evidenced by the fact that approximately 95% of BONKBot transactions are conducted through Raydium’s Swap feature. This strong correlation is underscored by data indicating a significant increase in Raydium lock-up, mirroring the surge in BONKBot’s trading volume. This underscores the pivotal role BONKBot plays in driving activity on the Raydium platform.

Moreover, any significant updates to Raydium, such as the addition of new trading pairs, directly contribute to the development and utility of BONKBot. These enhancements to the Raydium platform have the potential to broaden BONKBot’s trading capabilities and improve its efficiency, further solidifying its significance within the ecosystem. The symbiotic relationship between BONKBot and Raydium exemplifies how the growth and evolution of one entity catalyze the expansion of the other, fostering a mutually beneficial dynamic that supports the prosperity and vitality of both parties within the Solana ecosystem.

4. SolTradingBot

SolTradingBot, akin to BONKBot, is another bot in the sphere, primarily utilizing the Telegram Bot model. However, it distinguishes itself with several distinctive features, notably:

DEX Integration:

Integration with Major DEXs: SolTradingBot seamlessly integrates with Jupiter, Orca, and Raydium, three prominent decentralized exchanges within the Solana ecosystem.

Enhanced Liquidity Access: Users benefit from accessing the substantial liquidity pools available on these DEXs, facilitating efficient transaction execution at optimal prices.

Diverse Token Opportunities:

Wide-ranging Trading Options: SolTradingBot offers a diverse array of trading options, encompassing both established cryptocurrencies and emerging projects.

Multi-DEX Strategy:

Optimization of Transactions: The bot enables users to capitalize on the distinctive advantages offered by each DEX platform, thereby optimizing their trading activities.

4.1 Protocol Performance

The project, emerging as a rising star, was launched in December, coinciding with the peak of speculation surrounding the Solana memecoin. Within a mere month, by December 26th, its trading volume had already surpassed that of UniBot and Banana Gun.

Among the tokens boasting the highest trading volumes are several popular memecoins, including SOL/SFAR, SOL/OMNI, SOL/BORK, SOL/PONKE, and more.

4.2 Tokenomics

Data Source: SolTradingBot Doc

According to data sourced from the SolTradingBot Doc, there is currently only preliminary information available regarding the token distribution, indicating that the majority of tokens are allocated for liquidity funding.

4.3 Future Prospects

（1）Clear Roadmap:

Despite SolTradingBot’s functionality not being fully realized yet, the project team has outlined a clear roadmap for its development across various stages throughout 2024. Given its existing presence in the market as a Telegram Bot project, continuous enhancement of user experience is poised to secure a larger market share in the future.

Source: SolTradingBot Website

Key Milestones:

Comprehensive Ecosystem: Additional features such as advanced analytics, risk management, and portfolio tracking signify a shift towards the creation of more robust trading tools.

Innovative Features: The introduction of the Sniper Monitor feature, facilitating precise trade execution, could differentiate SolTradingBot from competitors, offering traders a unique tool to bolster their trading decisions.

Strategic Partnerships: Exploring further partnerships within the Solana ecosystem holds the potential for increased utility and integrations, broadening the bot’s reach and capabilities.

Platform Evolution: Research into supporting new assets and potential expansion to more DEX platforms.

（2）SolanaTradingBot’s Position:

Given the similarity in functionality among various Telegram Bot projects, the Solana ecosystem is poised to become a highly competitive arena in the future. While SolTradingBot has made a promising start in its initial month, it must solidify its market positioning. Considering its relatively late launch, there’s a risk of being overshadowed by competitors like BONKBot if the projected roadmap isn’t realized.

5. BTCBot.pro

Salona and ETH utilize the account model, while BTC operates on the UTXO model. This fundamental difference in underlying data structures results in significant disparities in associated assets and ecosystems. In this section, our focus shifts to the functional innovations introduced by BTCBot.pro and their potential impact on users and the industry.

BTCBot.pro, a Telegram Sniper Bot product within the BTC ecosystem, was launched on December 23, 2023. Presently, it concentrates on engraving and trading BRC-20 tokens, offering practical solutions to prevalent issues within the BTC sphere.

Given the substantial distinctions between the BTC ecosystem and those of ETH EVM and Solana, as well as variations in overall design logic, the BRC20 domain is currently bifurcated into a primary market and a secondary market. Unlike the conventional understanding, the primary market in the BTC ecosystem pertains to BRC20 token issuance, while the secondary market involves BRC20 token trading.

5.1 BRC20 Primary Market

Challenge 1: Delayed Block Confirmations

Submitting batch inscriptions often leads to a surge in transaction fees, resulting in delayed blockchain confirmations and potential failure in receiving tokens post-minting completion.

Corresponding Solution: BTCBot.pro’s AutoBoost

BTCBot.pro tackles this issue by autonomously monitoring and promoting transactions. It identifies unconfirmed inscribed transactions for the subsequent block and aggregates them for promotion. This multi-stage bundling significantly enhances the likelihood of confirmation in the next block, boasting a success rate of up to 99% and delivering the following advantages:

• Flexibility in adapting to fluctuating transaction fee prices
• Guaranteed blockchain confirmation of inscriptions
• Timely token reception for users

Challenge 2: Lack of Refunds

Although users can enhance their inscription success probability by paying higher transaction fees, there’s no mechanism for refunding fees in case of delayed confirmations, leaving users bearing high fees without successful inscriptions.

Corresponding Solution: Automatic Fuel Recovery

BTCBot.pro conducts automated analysis of transactions within new blocks. If a user’s minting process isn’t finalized, it continues up to 20 inscriptions. Upon completion, BTCBot.pro halts and automatically refunds the user, alleviating concerns about losing transaction fees due to unsuccessful inscriptions. Key benefits include:

• Efficient management of transaction fees
• Alleviation of the burden of high transaction fees for unsuccessful inscriptions

BTCBot.pro’s AutoBoost and Automatic Fuel Recovery together provide a comprehensive resolution to inscription challenges within the Bitcoin Ordinals ecosystem. These solutions not only bolster confirmation probabilities but also ensure timely token reception and efficient gas cost management, ultimately enhancing the user experience.

Challenge 3: Data Monitoring

The initiation timing of high-quality projects in the BRC20 sphere remains uncertain. Constantly monitoring the computer screen for updates is impractical. Thus, a monitoring function is established. Upon configuring parameters such as token holders, progress, and transactions, users receive notifications when these criteria are met, enabling them to submit new printing mint numbers.

Corresponding Solution: Automatic Creation of New Sniper

Once users set parameters like token holders, progress, transactions, and engravings, the “Automatic Renewal” feature, when activated with sufficient account balance, automatically renews tokens based on the set parameters.

5.2 BRC20 secondary market

The secondary market for BRC20 tokens primarily operates through trading platforms like OKX and Unisat, as only a few BRC20 tokens are listed on centralized exchanges. Despite being categorized as FT (fungible tokens), the transaction process resembles that of NFTs (non-fungible tokens), owing to its unique mechanism. Each order in BRC20 transactions varies in price and quantity, with takers being able to execute only one order at a time without the ability to split transactions. Both Unisat and OKX trading markets necessitate buyers to accept seller’s prices and limited pending orders before completing transactions, resulting in low liquidity across the BRC20 decentralized trading field, the absence of limit buy orders, and a lack of market makers. BTCBot.pro endeavors to address liquidity issues in the BRC20 field.

BRC20 Sell Order Function

Before listing BRC20 tokens for sale on platforms like OKX or Unisat, an additional step of minting is required. For instance, selling 2000 $abcd (a specific BRC20 token) involves converting it into an inscription and setting its price on the trading platform, awaiting order execution. Placing a limit sell order incurs no handling fees; users are only responsible for gas fees.

On BTCBot.pro, the “Limit Sell” function enables users to simultaneously place orders on Unisat, OKX, and other platforms at no additional cost. This allows for the same inscription to be listed in multiple places, enhancing the likelihood of order fulfillment.

BRC20 Limit Buy Order Function

Introducing the limit buy-order function is a novel development in the BRC20 field. The buying function boasts four key features:

1. Zero Cost: Users can modify or cancel limit buy orders at any time without incurring gas fees. This function applies to Unisat, OKX, and other trading markets. Currently, the Unisat buy-order function is available.

2. Slippage Control: BTCBot.pro calculates the comprehensive price of tokens considering the BTC gas fee upon order completion. Users can set slippage thresholds to trigger automatic order completion, thereby controlling comprehensive token purchase costs.

The “Slippage Setting” in the BTC ecosystem differs from that experienced by users utilizing the AMM mechanism in Uniswap. While AMM mechanism slippage is influenced by Liquidity Pool size, BRC20 field slippage is impacted by BTC transaction gas fees. Slippage settings enable users to filter orders and effectively manage costs.

1. Handicap Management: Unlike most current BRC20 trading platforms lacking the limit buy function, BTCBot allows institutional participants like market makers to manage orders effectively, enhancing transaction activity and depth.

2. Automatic Matching: BTCBot.pro displays current limit buy order amounts and quantities. Sellers can observe order thickness to set selling prices, while buyers can acquire lower-cost tokens through bidding. Automatic matching facilitates seamless transactions between buyers and sellers on BTCBot.pro.

Tokenomics

The primary revenue stream for the project stems from transaction fees, which vary between 0.4% and 1%, contingent on tier rewards and discounts available through referral programs.

• Tier rewards enable a reduction in fees of up to 50%.
• Through the referral program, those who invite others can receive a 10% reduction in fees when the new users utilize their referral code.
• In essence, this equates to a minimum fee reduction of 60%.
• Additionally, 50% of trading fees will be allocated to holders possessing 200 $BPIX tokens or more.

5.3 Future prospects

(1) The Impact of Nakamoto Upgrade and Bitcoin Halving

The cryptocurrency market is anticipated to maintain its momentum until Bitcoin undergoes the Nakamoto upgrade alongside the upcoming halving event. This presents significant opportunities for trading platforms like BTCBot.pro to expand their reach, particularly in terms of attracting new users and boosting trading volumes.

(2) Development of Order Book Functionality

According to BTCBot.pro’s roadmap, the platform aims to integrate order book trading functions into its Telegram Bot interface. This strategic move not only simplifies trading for users but also enhances liquidity within the BRC20 token ecosystem. By incorporating this feature, BTCBot.pro stands to gain a competitive edge, particularly in terms of user experience and transaction efficiency. Additionally, the introduction of order book trading functionality is poised to increase the platform’s attractiveness, drawing in more users and investors. With enhanced liquidity, BTCBot.pro is well-positioned to lead the BRC20 market and solidify its market presence. It’s crucial for the development of this feature to prioritize user interface convenience, transaction security, and system stability to ensure a seamless service experience.

(3) Development of Copytrading Functionality

The introduction of smart money monitoring and follow-up features, as outlined in the project, will be pivotal. These functionalities not only enhance the platform’s appeal but also introduce innovative gameplay within the BRC-20 market, thereby attracting a broader spectrum of professional investors and daily users.

(4) Support for Additional Protocols

While BRC20 remains the dominant protocol within the BTC ecosystem, other standards such as ARC20, SRC20, and Runes continue to evolve. The NFT sector is also experiencing rapid advancements, while attention is drawn to the development of the BTC second-layer network by BTC OGs and developers. In the future, BTCBot.pro is committed to introducing a broader range of assets encompassing various protocol standards to cater to evolving market demands.

6. Summary

While each Telegram Bot project has its unique positioning and targets diverse blockchains and markets, it is essential to assess each project by comparing various performance standards associated with Telegram Bots:

6.1 Fee Structure

Regarding fee structure, BTCBot.pro offers more flexible options and discounts on trading fees, making it one of the most cost-effective choices. For instance, Banana Gun’s manual trading also provides an affordable option at 0.5% fee. To illustrate, if a user trades 20 ETH worth on Banana Gun and the trade breaks even, they incur a fee based on the total transaction volume. Conversely, on UniBot or Bonk Bot, users need to pay 0.2 ETH respectively for buying and selling, totaling 0.4 ETH. However, on Banana Gun, regardless of buying or selling, users only need to pay 0.05 ETH each time, totaling only 0.1 ETH. In contrast, SolTradingBot’s 1.6% trading fee significantly impacts transactions when buying and selling.

This significant disparity in fee structure underscores the substantial competitive advantage of Banana Gun and BTCBot.pro for cost-conscious users. Given that traders often engage in multiple trades over time, these fee differences can potentially save users considerable amounts, rendering them more popular choices than alternatives.

6.2 Blockchain Technology

As previously mentioned, Solana has emerged as a prominent center for Telegram Bots. The primary reason is Solana’s renowned high throughput, enabling it to handle numerous small asset transactions, thereby fostering greater liquidity and fund turnover. This advantage appeals to both investors with significant trading volumes and retail investors with smaller funds.

Source: Medium @Pontem Network

Unlike Ethereum-based Banana Gun, Solana’s high TPS is particularly beneficial due to Ethereum’s high gas fees, allowing small investors to conduct more frequent transactions without concerns about high fees, thereby effectively capturing market value.

Leveraging Solana’s advantages can attract a broader user base, particularly retail investors interested in high-frequency and prompt transactions, further enhancing its market competitiveness and appeal.

6.3 Integration of Decentralized Exchanges

Integrating robots with decentralized exchanges can significantly enhance liquidity and reduce slippage, ensuring precise execution of robot functions. For instance, this integration enables robot-set limit orders to more accurately align with market prices.

The Telegram Bot sector is still nascent, with a market capitalization of approximately $337 million, significantly lower than the decentralized exchanges’ market value of $15.52 billion, which is nearly 50 times larger. However, with the market maturing and coupled with Telegram’s extensive user base, Telegram Bot holds vast development potential.

Disclaimer：

1. This article is reprinted from [aicoin]. All copyrights belong to the original author [@ChingChaLong02]. If there are objections to this reprint, please contact the Gate Learn team, and they will handle it promptly.
2. Liability Disclaimer: The views and opinions expressed in this article are solely those of the author and do not constitute any investment advice.
3. Translations of the article into other languages are done by the Gate Learn team. Unless mentioned, copying, distributing, or plagiarizing the translated articles is prohibited.