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The Rise of Web3 Bots: Analyzing Unibot and Its Contenders

· 4 min read
Dora Noda

As the CEO of a startup in the web3 domain, I'm often intrigued by emerging tech trends. The rapid ascent of bot platforms, particularly in the context of blockchain and decentralized finance, has caught my attention.

The New Wave: Telegram Bots in Web3

With the growth of Unibot, robot concepts are becoming a new area of competition. The landscape now features hundreds of bot-centric and micro-innovative projects. Telegram, a must-have social application in the crypto circle, boasts a staggering 800 million monthly active users. These numbers become even more fascinating when you consider how Telegram Bots are simplifying crypto interactions. Within the platform, bots can handle a variety of tasks, from decentralized finance (DeFi) and miner extractable value (MEV) protection to data analytics, whale tracking, and even community gaming governance. The appeal lies in their accessibility, convenience, and wide-ranging applications.

However, rapid growth often brings skepticism and worries. Concerns about the security vulnerabilities of Telegram Bots and the maturity of the technology have begun to surface.

The Rise of Web3 Bots: Analyzing Unibot and Its Contenders

Unibot: The Phenomenon

Launched in June, Unibot took just two months to achieve a phenomenal status, spawning hundreds of imitative projects. It hit a peak market cap of over $200 million, although it later faced stiff competition from "Banana Gun", leading to a considerable market share decline. Despite this drop, its current market value stands around $60 million, keeping Unibot as the leading figure in the bot arena.

Unibot Features:

  • New project tracking
  • Copy-trading capabilities
  • Limit orders
  • Token tracking and precision sniping within Telegram
  • Speedier than conventional decentralized exchanges, outpacing platforms like Uniswap.

Revenue Model:

  1. Service Fee: Unibot charges a 1% service fee. 40% of this is allocated to $UNIBOT Token holders, with the remaining going toward team operations.
  2. $UNIBOT Token Tax: The token imposes a 5% tax. 1% of the transaction volume is shared with $UNIBOT holders.

In its prime, daily revenue reached beyond 300 ETH. Despite challenging market conditions, Unibot has performed impressively, garnering approximately 15,000 users and generating around 8,200 ETH (approx. $13 million) in total revenue within three months.

Banana Gun: The Challenger

Banana Gun, a recent entrant, has managed to challenge Unibot's dominance. With features similar to Unibot, it has garnered a user base comparable in size, but with slightly more active members. Notably, it's proving to be more effective in its "sniping" capabilities. Banana Gun's recent pre-sale raised 800 ETH, and they faced some liquidity withdrawal issues due to contract tax complications.

The Broader Bot Ecosystem

Other bots in the market focus on various niche aspects, such as:

  • Analyzing contract details for potential red flags, like liquidity pool locks, contract access renunciations, and "rug pull" possibilities.
  • Tracking the actions of high-performing wallet addresses.
  • Monitoring newly launched project tokens for potential early investment opportunities.

Why Are Bots Gaining Traction?

  1. Their integration with Telegram, one of the most widely-used applications in the industry, provides a natural congregation of traffic.
  2. The essence of buying and selling remains a fundamental need in finance. The functionalities of these bots revolve around trading, and ultimately, profitability is their selling point.

In conclusion, the world of web3 bots is evolving rapidly. As decentralized technologies mature, bots will undoubtedly play a significant role in the way we interact with and leverage the capabilities of the blockchain. As a stakeholder in this space, I'm excited to be a part of this journey and look forward to the innovations that lie ahead.