Interpretation of the Trading Bot Dark Horse, Trading Sniper Banana Gun
The characteristics of the Meme coin market are high speculation and volatility, where a project can achieve significant gains in a short period, bringing huge returns to investors. However, this market is also filled with uncertainty, as many projects may only be short-lived hype, lacking actual value or long-term development potential. Therefore, for traders, observing and analyzing the Meme coin market has become a full-time job, requiring keen market insight and quick decision-making abilities.
Before the emergence of Telegram sniping bots, purchasing newly issued Meme coins mainly relied on traders' expertise and manual operations. They needed to carefully analyze token contracts, identify key functions and restrictions, and develop effective sniping strategies. However, with the advent of Telegram bots like Banana Gun and Maestro, this process has been greatly simplified. These sniping bots can automatically execute trades, simulate contract functions, and bypass traditional user interfaces, making the sniping process faster and more efficient.
The rise of sniping bots has not only changed the way sniping is done but also reshaped the sniping landscape. On one hand, it has made the sniping process more user-friendly, lowering the barriers to entry and allowing more people to participate in the sniping of Meme coins. On the other hand, it has intensified market competition, as sniping bots can respond to market changes and execute trades more quickly, thus gaining a greater advantage.
According to The First's official announcement, the on-chain token trading tool ecosystem project Banana Gun was launched on The First spot market at 16:00 (UTC+8) on August 1, 2024. Today, we will take an in-depth look at Banana Gun and the hot on-chain bots behind it.
### 1. What is Banana Gun?
Blockchain technology, with its features of cryptographic hashing, data immutability, and decentralization, shows significant advantages in ensuring transaction security. However, in the rapidly developing decentralized finance (DeFi) sector, especially in leading decentralized exchanges (DEX) like Uniswap (UNI), unique security challenges still exist. Malicious bots, particularly Maximum Extractable Value (MEV) bots, exploit the transparency and predictability of the blockchain to maximize their own interests by manipulating transaction orders, thereby harming the interests of other users.
To address these challenges, Banana Gun (BANANA) has emerged as a multi-chain trading bot based on Telegram. This bot focuses on protecting users from malicious behaviors such as MEV bots, rug pulls, and sandwich attacks. Banana Gun uses smart contracts and advanced algorithms to monitor and intercept potential malicious transactions in real-time, providing users with a solid protective barrier.
Currently, Telegram has 700 million monthly active users and 55.2 million daily active users, making it one of the top 5 downloaded apps globally. Like other trading bots, Banana Gun chose Telegram as its platform mainly due to its large user base and the API for creating bots. As a Telegram-based trading bot, Banana Gun's main products are the Sniper bot and Sell bot. Compared to other copy trading bots, Banana Gun's advantage lies in its focus on sniper opening trades, allowing users to target upcoming tokens or trade already issued tokens. Banana Gun aims to become the preferred sniper/manual purchase bot on the Ethereum network and plans to expand to more blockchain networks in the future.
### 2. Technical Features of Banana Gun
The Banana Gun bot provides traders with powerful tools to protect themselves and pursue profits in the complex and risky cryptocurrency market through its innovative strategies and technologies. For token purchase restrictions, Banana Gun employs a simulated sell operation verification mechanism as an effective preventive measure, significantly reducing the risk of users falling into honey pot scams.
In addition, Banana Gun offers a range of flexible services to help traders achieve profitable and secure orders. Some core services include automatic sniping, manual trading, and limit orders.
Automatic Sniping (Automated Trading)
- Convenience: The automatic sniping feature allows traders to participate in new cryptocurrency trading without needing complex programming skills. Users only need to set up through a simple interface, and the Banana Gun bot can automatically complete the entire process from token identification to trade execution.
- Security: This feature also includes automatic handling of tax calculations and a strategy targeting the first secure block, aimed at ensuring the safety and compliance of transactions.
Manual Trading
- Flexibility: The manual trading feature provides experienced traders with more control and flexibility. Users can adjust parameters such as slippage level, Degen mode, wallet count, tax limits, and liquidity limits according to their preferences and market conditions.
- Precise Operation: Through manual trading, users can more accurately control the timing and conditions of trades to respond to rapidly changing market environments.
Limit Orders
- Risk Management: Limit orders are an important tool for managing cryptocurrency investment risks. Banana Gun supports the setting of buy and sell limit orders, allowing users to trade based on their expected prices, effectively avoiding adverse impacts from market fluctuations.
- Diverse Order Types: In addition to basic limit orders, Banana Gun also supports advanced order types such as take profit orders, stop-loss orders, and trailing stop orders. These order types help users better manage risks and achieve profit goals.
### 3. Token Economics of Banana Gun
Banana Gun will issue the token $BANANA on its dedicated DApp, dividing whitelist users through early NFT activities. The main functions of BANANA include governance, distributing rewards to token holders through a revenue-sharing plan, and community participation features such as holder chats.
- Incentive Mechanism: Banana Gun may incentivize users through some form of reward program, such as trading fee rebates, trading rewards, or special benefits for highly active users. These rewards may be issued in tokens (not necessarily BANANA, but possibly Banana Gun's own tokens or tokens from partner projects) or other forms.
- Community Participation: To enhance user stickiness and promote communication, Banana Gun may provide community features such as chat rooms, forums, or social media groups, allowing users to share trading strategies, discuss market dynamics, and even suggest improvements to the platform.
- Access to Advanced Features: Similar to the Banana Burn feature of the BANANA token, Banana Gun may also offer certain advanced features or services that require users to complete specific tasks (such as trading a certain volume, holding a specific amount of platform tokens, etc.) to unlock. These advanced features may include more complex trading strategies, more refined order management options, or opportunities to interact with well-known traders.
- Holder Revenue Sharing: Revenue from bot trading (40% after referrals) and 50% of tax revenue will be distributed to token holders.
As a deflationary token, the total supply of BANANA is only 10,000,000. Due to the completion of an 11% burn, the total supply of BANANA is approximately 8,900,000, with a current circulating supply of about 2,420,000 (about 27% of the total supply), and a circulating supply of about 3,220,000 at launch (36% of the total supply). The limited supply should ensure asset scarcity, thereby providing some support for the token price. Its distribution mechanism is as follows:
Burned and destroyed 11% of the maximum supply (1,100,000 BANANA)
Binance HODLer airdrop 9% of the total supply (900,000 BANANA)
Holders 24% of the maximum supply (2,400,000 BANANA)
Locked liquidity 1% of the maximum supply (100,000 BANANA)
Treasury and ecosystem 46% of the maximum supply (4,600,000 BANANA)
Team 10% of the maximum supply (1,000,000 BANANA)
