Looking back at the Telegram Bot track that has been popular for a year, these five competitive strategies have helped representative players break through the competition
Daily earnings of one million dollars, with a huge market capacity, still focusing on product iteration and community.Author: Nan Zhi, Odaily Planet Daily
In the third quarter of last year, the Meme market experienced a resurgence, breaking the competitive landscape dominated by Maestro. A large number of Telegram Bots began to take the historical stage, including top projects at the time like BananaGun and Unibot, as well as ephemeral products like WagieBot and MEVFree. Telegram Bots officially became a major core track.
A year ago, in "Five Charts Predicting the Future Direction of the 'Trading Bot' Track," I believed that due to the characteristics of the Meme stock market and the lack of network effects, Unibot was at risk of being disrupted, and future development would focus on "one-stop products" and "having significant advantages in specific functions."
A year later, what is the competitive situation of Telegram Bots? What kind of products are the most popular? Odaily Planet Daily will reveal this in this article.
Changes in the Competitive Landscape
Ethereum: From One Dominant Player to a Bipolar Structure
The following chart shows the distribution of Telegram Bot usage fees in early September 2023. At that time, Maestro held over 50% of the market share, Unibot's market share had not changed much since late July, while BananaGun's share was continuously rising.
As of today, most Bots have exited the competition, while BananaGun has made a comeback, with both it and Maestro each holding about 45% of the market share. UniBot has completely receded, with its token dropping over 95% from its peak. Pepeboost's average market share over the past three months has been around 7%, showing a slight upward trend.
Solana's Competitive Landscape
The products on Solana are even more diverse. The following chart shows the proportion of Bot usage fees over the past three months. Trojan (formerly known as Unibot On Solana) occupies a major position, once becoming the fifth-ranked protocol in terms of total revenue, while other Bots have also maintained a solid market share.
In addition to the products shown in the chart, several "domestic products" like GMGN and CashcashBot are also among the current mainstream products, but they are not included in the statistics due to the lack of publicly available data.
Trends in Product Changes
Telegram Bots have extremely high profit margins, and market competition is very fierce, with significant functional homogeneity (mainly focused on sniping and trading). What competitive strategies do Bots adopt to stand out?
- Extreme Product Functionality: The rise of BananaGun last year was due to its 0 block sniping feature, which was used by all bottom buyers of various new tokens. After the tokens skyrocketed in value, the market value of the tokens held by these bottom buyers was extremely high, contributing significant revenue to the Bot and becoming its core income source and competitive feature.
- Community Building: One of PepeBoost's strengths lies in its community building and operational capabilities. The official team maintains high user stickiness and conversion rates by creating relevant Meme channels and actively engaging with users.
- Differentiated Services: In Meme coin trading, the movement of smart money is a key factor. CashcashBot continuously provides users with insights on smart money and the "golden dogs" it captures, guiding users to follow trades through its Bot. Each appearance of a "golden dog" effectively converts and activates users, but since smart money information is public, it is easily replicable, leading to a shallow moat.
- One-Stop Functionality: A year ago, Unibot launched Unibot X, attempting this development direction, but ultimately failed due to overall product issues. GMGN, however, has successfully achieved certain results through this strategy, encompassing front-end pump and moonshot new coin tracking; core trading panels and Bots; and later address data analysis, among other features. It has also iterated rapidly on many details (as expected from domestic developers), providing services that other Bots cannot achieve independently, thus achieving differentiated competition.
- Fee Competition: Most Telegram Bots still charge a fee of 1%, which is very expensive for the frequently traded Meme market. Among mainstream Bots, only BananaGun has a 0.5% fee, which is also its core competitive point. Therefore, many Bots offer high rebates for "kickbacks," with Trojan being the most prominent, setting up a five-level rebate system that penetrates down to five layers of the referred individuals.
Conclusion
Currently, Solana Bots generate a total daily revenue of about $1 million, while ETH Bots generate about $150,000 daily, far exceeding various mainstream protocols. Therefore, the current market has not yet begun to "compete on fees," but is focusing on product development, with "one-stop products" and "specific advantageous functions" remaining the main development directions. Additionally, community engagement has become a key operational focus, with high stickiness and high activity communities becoming a priority for some Bots.
