Original | Odaily Planet Daily (@OdailyChina)

Author｜Nan Zhi (@Assassin_Malvo)

In the third quarter of last year, the Meme market became popular again, breaking the monopoly of Maestro. A large number of Telegram Bots began to appear on the historical stage, including BananaGun, Unibot and other top projects at the time, as well as WagieBot, MEVFree and other products that were fleeting in retrospect. Telegram Bot officially became a core track.

A year ago, in "Five Pictures Predicting the Future Direction of the "Trading Bot" Track", I believed that due to the Meme stock market and the lack of network effects, Unibot has the possibility of being subverted, and its future development direction will be concentrated. On "one-stop product" and "has significant advantages in a specific function".

One year later, how is the competition in Telegram Bot? What kind of products are the most popular? Odaily Planet Daily will reveal it in this article.

Changes in the competitive landscape

Ethereum: From one superpower to many strong powers to a bipolar pattern

The figure below shows the distribution of Telegram Bot usage fee income in early September 2024. At that time, Maestro accounted for more than 50% of the market share, Unibot's market share has not changed much since late July, and BananaGun's share has continued to rise.

Today, most Bots have withdrawn from the competition, while BananaGun has reversed the situation and it and Maestro each have about 45% of the market share. UniBot has retreated completely, and its token has fallen by more than 95% from its peak. The average share of Pepeboost in the past three months is 7%, with a slight upward trend.

Solana: The Battle for Supremacy

The products on Solana are more abundant. The figure below shows the proportion of Bot usage fees in the past three months. Trojan (formerly Unibot on Solana) occupies a major position and once became the fifth largest protocol in terms of revenue in the entire network. The market share of other Bots is also very solid.

In addition to the products shown in the figure below, several "domestic products" such as GMGN and CashcashBot are also one of the current mainstream products, but because there is no public query data, they are not included in the statistics.

Product change trends

Telegram Bot has a very high profit margin and fierce market competition. There is also a serious homogeneity in functionality (mainly sniping and buying and selling). What competitive strategies do various Bots use to stand out?

  • Ultimate product function: BananaGun’s rise last year was due to its 0 block snap-up function. The bottom buyers of all kinds of new coins all used this protocol. After the tokens increased by hundreds or thousands of times, the market value of the tokens held by the bottom buyers was extremely high, which once again contributed large amounts of income to the Bot and became its core source of income and competitive feature.

  • Community building: One of the major points of PepeBoost lies in its community building and operation capabilities. The official maintains a high level of user stickiness and conversion rate by setting up relevant Meme channels and personally participating in the operation.

  • Differentiated services: In Meme coin transactions, the movement of smart money is a key factor. CashcashBot guides users to follow orders through its Bot by continuously outputting smart money and the "golden dogs" it catches to users. Each appearance of the "golden dog" can effectively achieve user conversion and activation. However, since smart money is public information and easy to copy, there is a problem of a shallow moat.

  • One-stop function: A year ago, Unibot launched Unibot X, trying this development direction, but ultimately failed due to overall product reasons. GMGN has successfully achieved certain results through this development strategy, including front-end pump and moonshot new coin tracking; core transaction panel and Bot; later address data analysis, etc. And iterates very quickly in many details (as expected of a Chinese developer), providing services that other Bots cannot achieve alone, achieving differentiated competition.

  • Fee competition: Most Telegram Bots still charge 1% of their fees, which is very expensive for Memes that trade frequently. Among the mainstream Bots, only BananaGun charges 0.5% of its fees, which is also its core competitive point. Therefore, many Bots offer extremely high rebates for "rebates", among which Trojan is the most prominent, with a five-level rebate system that can penetrate all the way to the fifth level of the referral.

in conclusion

Currently, Solana Bot’s daily revenue totals about $1 million, and ETH Bot’s daily revenue totals about $150,000, far exceeding all major protocols. Therefore, the current market has not yet begun to “roll fees”, but is focusing on products, and “one-stop products” and “specific advantageous functions” are still the main development directions. In addition, the community has also become an operational focus, and highly sticky and highly active communities have become the focus of some Bots.

appendix

The following is the data source: Maestro: https://dune.com/whale_hunter/maestro-sniper-bot

BananaGun：https://dune.com/whale_hunter/banana-gun-bot

Trojan：https://dune.com/whale_hunter/trojan-trading-bot

SBT：https://dune.com/whale_hunter/sol-trading-bot

PepeBoost：https://dune.com/whale_hunter/pepe-boost

BonkBot：https://dune.com/whale_hunter/bonkbot

Shuriken：https://dune.com/whale_hunter/shuriken

Unibot：https://dune.com/whale_hunter/unibot-revenue