How is the once-popular TG Trading Bot track performing now?
How have the originally leading Maestro, Unibot, and Banana Gun developed?Original Author: dt, DODO Research
Original Editor: Lisa
As one of the few hot tracks this year, how is the once-popular TG Trading BOT track performing now? Today, Dr. DODO will take us on a journey to explore this. Let's use the publication date of the Binance Research report on August 17 as a time point to compare the changes in the TG Trading Bot track over the past two and a half months. How have the previously leading players, Maestro, Unibot, and Banana Gun, developed?
Data Comparison
In terms of overall data for the entire track, there has been a significant decline in the TG Trading Bot track compared to the summer data, whether in trading volume, transaction numbers, or users. The trading volume has dropped from nearly $30 million daily at its peak to about $10 million now, the transaction numbers have decreased from a daily high of 80,000 to 40,000, while the number of users has seen the least decline, maintaining an average of around 10,000 daily.
Daily trading volume data Source: https://dune.com/whale_hunter/dex-trading-bot-wars
Daily transaction numbers data Source: https://dune.com/whale_hunter/dex-trading-bot-wars
Daily user data Source: https://dune.com/whale_hunter/dex-trading-bot-wars
Next, looking at the market landscape of TG Trading Bots, Maestro still firmly holds the first position, accounting for over half of the user base. Banana Gun has been steadily growing, with significant improvements in data after its token launch, successfully surpassing Unibot to claim the second spot in early September, currently accounting for about 35% of users. Meanwhile, Unibot's data has continuously declined since the token price reached its ATH, with user numbers dropping below 10%.
Source: https://dune.com/whale_hunter/dex-trading-bot-wars
Thanks to long-standing community support, Maestro remains the leader in this track, although its market share has gradually declined from an absolute leading position of nearly 70% to just below 50%.
Banana Gun attracted many new users initially through airdrop expectations and consolidated its user base with its high-quality MEV Bribe Snipe token sniping feature and a lower service fee of 0.4% compared to other competitors. The product continues to innovate, with the recent launch of limit orders featuring Bribe functionality allowing many users to profit significantly, receiving high praise. Banana Gun leads in the MEV Bribe sniping of new tokens, with data showing that over the past ten days, Banana Gun users have bribed MEV Builders with more than 1,700 ETH, far exceeding Maestro's 65 ETH, while Unibot has yet to implement this feature.
Source: https://dune.com/queries/3056051
Compared to the first two, Unibot has made few improvements to its product. With the decline in token prices, the advertising effect has diminished, and its foray into FriendTech Bot has been a significant misstep, with daily user numbers dropping to less than 10. The feeling is that the project team is prioritizing token speculation over product development.
Source: https://dune.com/whale_hunter/unibot-revenue
Security
Although projects in the TG Trading Bot track have never boasted about their security, their target users are inherently high-risk Degen groups. However, two recent hacking incidents have also dealt significant blows.
On October 24, Maestro updated its routing contract, but this contract was attacked due to a smart contract code vulnerability, resulting in user losses exceeding 280 ETH. However, the Maestro team demonstrated high sincerity by repaying nearly 610 ETH after fixing the vulnerability, earning high praise from the community.
Less than a week later, on October 31, Unibot also suffered a hacking attack due to a code vulnerability in its updated routing contract, leading to user losses of about 355 ETH. Its token $Unibot also dropped by 50%, but Unibot claims to have fully compensated user losses, and the token price has returned to pre-incident levels.
The TG Trading Bot has always been a substitute that sacrifices security for convenience. Users should remember to be cautious about risks when using such applications, investing only small amounts.
Rising Stars
While the top three projects in the TG Trading Bot track currently occupy nearly 90% of the market share, there are still many rising star projects actively challenging, including some with notable backgrounds.
PepeBoost: Pepeboost primarily targets the Chinese community, attracting many users through community-led trading. It currently ranks fourth in market share, with the project claiming its copy trading feature surpasses Maestro.
Shuriken: Shuriken's uniqueness lies in its web-based Dapp, which offers users many convenient dashboard features in addition to the TG Bot, allowing users to monitor smart addresses or popular tokens, among other functionalities, and has launched a points badge system to attract many airdrop hunters.
Alfred: Alfred is currently the most mentioned TG Bot project, not because its product has particularly outstanding features, but due to its impressive background. The Alfred team is co-founded by Stephane Gosselin, a co-founder of Flashbots. Recent hacking incidents involving multiple TG Bot projects have significantly raised concerns about security. The real-name and highly-rated background of Alfred has garnered much favor, and it has also launched a points mechanism to attract many airdrop hunters to participate.
Author's Perspective
The TG BOT field has always been a key focus of mine and one that I am very interested in. In my view, the popularization of blockchain will inevitably involve the emergence of such convenient applications.
Although the data has seen a significant decline compared to the peak of its popularity, overall, it remains quite healthy. The data pullback is likely related to market trends, with the overall market recovering leading to increased on-chain Gas Fees, corresponding to the diminishing wealth effect of on-chain Memecoins, and a significant shift of on-chain Degen users towards BTC-derived applications. Returning to the TG BOT track, not only are the leading projects continuously updating, but several new projects are also joining, including participation from the founder of Flashbots, indicating that not only Degen users are paying attention, but also serious developers with backgrounds are actively focusing on this space.
