Is it worth starting with the Unibot and Telegram Bot tracks that suddenly became popular?

Original author | 2Lambro

Compilation of the original text | Baize Research Institute

The Telegram Bot track has exploded recently, Unibot tokens have skyrocketed from $2.46 to $143 two months ago, and the maximum supply market value (total market value) has increased from $30 million to $140 million within 30 days.

Is the bot just a meme?

Can Unibot prove that its $140M combined market cap is more valuable than smaller DeFi apps like Trader Joe ($JOE) and Kyber ($KNC)?

I didn't catch the $unibot opportunity early, can I still buy now?

**What is Telegram Bot? **

In short, Telegram Bot is a robot that provides various DeFi trading tools on Telegram. After entering your wallet mnemonic, it can execute certain instructions for you, such as token exchange, copy transaction, analysis, automatic airdrop transaction, asset cross-chain and so on.

$Unibot is the leader of the Telegram Bot track with a total market cap of $140M, while all projects are under $5M except for $WAGIEBOT which has a total market cap of $12M.

Most of these projects provide various functions through Telegram or Discord and share revenue with token holders, so they can also be called "real yield" projects.

Unibot's revenue (looks a lot like Safemoon's model):

• 1% transaction fee

• 5% sales tax when selling tokens

Here the translator briefly sorts out the existing projects on the track:

DeFi category:

Unibot (trading), WagieBot (trading and tracking), Boltbot (trading), 0xSniper (trading), NitroBot (trading), Xbot (custom trading), ASAP (for Discord), SwipeBot ($ETH, $ARB, $BSC artificial intelligence trading), Bridge Bot (cross-chain), AI DEV (AI trading, token issuance), All In (AI trading)

Data analysis class:

Cipher Protocol (analytics), NeoBot (analytics and tracking), Meowl (analytics and tool suite), TokenBot (social trading), Trace AI (AI analytics), Scarab Tools (analytics), BlackSmith (AI analytics), TrackerPepeBot (AI analytics and contract security detection), DAGMI (tracking), FirstSirius (analytics), The DIG (token and NFT analytics), Wally Bot (wallet analysis),

Airdrop ambush transaction:

Farmer Friends, LootBot, alfa.society (with airdrop reminder)

other:

EnigmaAI (customizable AI for trading in CEX), NexAI (a bunch of AI tools), 0x1 (multifunction), MagiBot (privacy)

**Why does Telegram Bot Narrative rise? **

• Most crypto users are heavy users of Telegram

• Products that can be easily used by outsiders

• Unibot earns top 10 at around $890,000 per week

•Even Coingecko's Bobby ONG praised them

• Coingecko, Coinmarket Cap started working with these Bots

As Bobby ONG said:

One of the biggest pain points of bringing retail to crypto is that it is too difficult to use wallets and interact with DeFi protocols.

After experiencing Unibot a few weeks ago, I think I now know how the next wave of billions of new users will interact with cryptocurrencies. The idea of Unibot is simple - build a fast and simple wallet on Telegram and tightly integrate with DEX to reduce the risk of buying spam coins and copying traders.

For me, it is really much easier to conduct DeFi transactions on mobile phones now.

Opportunities and Risks

I'm neutral on this, but here are some opportunities to take advantage of:

•MaestroBots earns $1.1M per week launching tokens (2nd most used Telegram Bot)

• Unibot's new trading terminal, Unibot X, integrates with GeckoTerminal

• CEX listing boom of tokens in the Bot field

• Twitter bots are going mainstream

At the same time, you also need to pay attention to the risks:

• The degree of decentralization is not high, importing mnemonics into these "centralized applications" only requires one hacking attack, and everything is lost

• Are the bots self-policing? Should we be worried if Unibot's total market cap exceeds $300 million?

•Current cost mainly comes from tax

Thoughts and Epilogue

Personally, while it's still early days, I don't believe Telegram Bot will be a long-term narrative because:

• Still not easy for outsiders to use

• Not decentralized enough for mass adoption even by crypto users

• Unibot total market cap is now too high

• Appears to be just a Bot version of Safemoon (collects transaction fees as revenue, distributes to token holders)

• Copy trading is nice, but remember all those NFT tools? Alpha opportunities are best when they make money

• Not clear about Unibot token distribution or how it was initially initiated

But I do think the Telegram Bot narrative will continue to rise because:

• A "cult" of Unibots has been established

• Taxation (token holders receive income distribution)

• CEX listing boom has not yet started

•Since the launch of Unibot, the team has continued to introduce new products, while charting future products

To be honest, I love Unibot and regret not discovering it sooner.

I'm a careful person, in my opinion, its token is too expensive now, and it may end up with another 2 times increase at most, and it doesn't think it will be bigger than the market cap of GMX.

At the same time, I am very interested in how Unibot will continue to develop or deliver new products in the future.

In addition, I will pay close attention to the following issues:

Can these bots increase user trust in them by protecting the seed phrase?

Will these Bots launch their own DEX?

Taxes are a great start for these bots, but how far can they go without changing the model into the public eye?

risk warning:

According to the "Notice on Further Preventing and Dealing with the Risk of Hype in Virtual Currency Transactions" issued by the central bank and other departments, the content of this article is only for information sharing, and does not promote or endorse any operation and investment behavior. Readers are requested to strictly abide by the laws and regulations of the region where they are located, and do not participate in any illegal financial activities.