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Key Takeaways

Banana Gun is a Telegram bot designed to enhance crypto trading on the Ethereum and Solana networks, allowing users to snipe upcoming token launches and purchase tokens that are already live.

Banana Gun (BANANA) has been introduced on Binance HODLer Airdrops. Users who subscribed their BNB to Binance's Simple Earn products between June 23, 2024, and July 5, 2024, were eligible for the BANANA airdrop.

Introduction

Trading bots are tools that traders use to increase their chances of success. Banana Gun is a bot designed to enhance the trading experience in the crypto market. In this article, we will explore what Banana Gun is, how it works, its tokenomics, and details about Banana Gun on Binance HODLer Airdrops.

What Is Banana Gun?

Banana Gun is a Telegram bot that facilitates automated and manual trading on the Ethereum network and allows users to manually buy and sell tokens on the Solana network. It aims to be the go-to tool for sniping upcoming token launches and securely buying tokens that are already live.

How Does Banana Gun Work?

Account creation

To get started with Banana Gun, follow these steps:

Register on Telegram: Join the Banana Gun bot channel and register your account.

Create or import a wallet: Follow the instructions to either create a new crypto wallet or import an existing one.

Fund your wallet: Ensure your wallet has at least 0.1 ETH or an equivalent amount in other supported cryptocurrencies.

Verification: Verify your wallet through the sell bot.

Automated trading

Now, you can use the auto sniper feature to automatically execute trades at the moment a new token is launched. Here’s how it works:

Configure sniping parameters: Set the parameters for the auto sniper, including the token address, snipe tip, maximum investment amount per wallet, and the number of wallets to use for the snipe.

Monitoring and execution: The bot continuously monitors the blockchain for the launch of the specified token. Once detected, it automatically executes the trade.

Manual trading

In addition to automated sniping, you can buy and sell tokens manually. Here’s a quick guide to get you started:

Input trade parameters: Specify the token you want to trade and how much you want to purchase or sell.

Execute the trade: Use the Telegram bot to make the trade. It offers real-time feedback and ensures timely execution based on the set parameters.

Security features

According to the Banana Gun documentation, there are at least three key security features in place:

MEV-resistance. Banana Gun offers MEV-resistant swaps, protecting users from various exploits, such as sandwich attacks and frontrunning.

Reorg protection. Banana Gun provides protection against block reorganization (reorg) attacks, which can occur when a blockchain's transaction history is altered.

Honeypot protection. Banana Gun incorporates built-in simulations that protect users against tokens that are scams from the start. If a successful trade cannot be simulated, the transaction will not go through.

What Is the BANANA Token?

Use cases

BANANA is the ecosystem token of Banana Gun and can be used in the following cases: 

Voting on proposals. 

Burning BANANA for extra features in the bot.

Holding BANANA to get access to the holder’s chat.

Holding BANANA to receive real yield generated by the trading bot.

Key metrics (as of July 18, 2024)

Token name: BANANA

Token standard: ERC-20

Initial circulating supply when listed on Binance: 3,220,000 (36% of total supply) 

Total supply: 8,900,000

Maximum supply: 10,000,000

Current circulating supply: 2,420,000 (27% of total supply) 

HODLer airdrop allocation: 800,000 (9% of total supply).

Token distribution

Burned: 11% of the max token supply. 

Binance HODLer Airdrop: 

8% of the max token supply. 

9% of the total token supply. 

Holders: 24% of the max token supply. 

Locked liquidity: 1% of the max token supply. 

Treasury and ecosystem: 46% of the max token supply. 

Team: 10% of the max token supply.

Banana Gun on Binance HODLer Airdrops

Binance HODLer Airdrops is a program that rewards BNB holders with token airdrops based on historical snapshots of their BNB balances. By subscribing BNB to Simple Earn, users are automatically eligible for HODLer Airdrops (as well as Launchpool and Megadrop rewards).

Banana Gun (BANANA) has been introduced as the first project on Binance HODLer Airdrops. Users who subscribed their BNB to Binance's Simple Earn products between June 23, 2024, and July 5, 2024, were eligible for the BANANA airdrop.

The airdropped BANANA tokens were distributed to eligible users' Spot Wallets before the official listing on Binance, which occurred on July 20, 2024. The initial trading pairs available included BANANA/BTC, BANANA/USDT, BANANA/BNB, BANANA/FDUSD, and BANANA/TRY. BANANA was listed with the seed tag applied.

Closing Thoughts

Banana Gun is a Telegram bot that allows traders to snipe new token launches and purchase tokens that are already live. It offers automated and manual trading options while protecting users with the anti-rug system and MEV-resistant swaps. The inclusion of Banana Gun in the Binance HODLer Airdrops program has allowed BNB holders to receive airdropped BANANA tokens.

Further Reading

What Are Crypto Trading Bots and How Do They Work?

What Are Airdrop Scams and How to Avoid Them?

What Is the Binance Airdrop Portal?

What Is Binance Megadrop and How to Use It?

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