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main ideas

  • Banana Gun is a Telegram bot designed to improve cryptocurrency trading on the Ethereum and Solana networks, allowing users to snipe upcoming token launches and buy existing tokens.

  • Banana Gun (BANANA) has been released on Binance for free distributions to holders. Users who redeemed BNB tokens in Binance's Simple Earn products between June 23, 2024 and July 5, 2024, qualified for the free distribution of the BANANA token.

the introduction

Trading bots are tools that traders use to increase their chances of success. Banana Gun is a bot designed to improve the trading experience in the cryptocurrency market. In this article, we will explore what Banana Gun is, how it works, its token economics, and details about Banana Gun on Binance's free distribution program for holders.

What is Banana Gun?

Banana Gun is a bot on Telegram 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 tool of choice for sniping upcoming token launches and safely purchasing existing tokens.

How does Banana Gun work?

Create account

To get started using Banana Gun, follow these steps:

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

  2. Create or import a wallet: Follow the instructions to create a cryptocurrency wallet or import an existing wallet.

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

  4. Verification: Verify your wallet through the selling bot.

Automated trading

Now, you can use the automated sniper feature to automatically execute trades the moment a new token is released. Here's how:

  1. Setting Sniping Variables: Set the automated sniper variables, including address token, sniping tip, maximum investment amount per wallet, and the number of wallets to be used in the sniping operation.

  1. Monitoring and execution: The bot continuously monitors the blockchain waiting for the release of the specified token, and once it is 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 started:

  1. Entering trading variables: Select the token you want to trade and the amount you want to buy or sell.

  1. Executing the trade: Use the Telegram bot to conduct the trade, it provides real-time evaluation and ensures timely execution based on the specified variables.

Security features

According to the Banana Gun documentation, there are at least three main safety features:

  1. Resistance maximum extractable value (MEV). Banana Gun offers swaps resistant to max extractable value, protecting users from various exploits, such as insider attacks and preemptive transactions.

  2. Protection from reorganization. Banana Gun provides protection against block reorganization (reorg) attacks, which can occur when the blockchain's transaction history changes.

  3. Protection from the threat of phishing. Banana Gun includes built-in simulations that protect users from tokens that are considered fraudulent from the start. If a successful trade cannot be simulated, the transaction will not take place.

What is the BANANA token?

Use cases

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

  • Vote on the proposals. 

  • Burn BANANA codes to get additional features in the bot.

  • Possession of BANANA codes to access the holders chat.

  • Hold BANANA tokens to get real returns generated by the trading bot.

Key Metrics (as of July 18, 2024)

  • Token name: BANANA

  • Token standard: ERC-20

  • Number of tokens available for trading in the market when listed on Binance: 3,220,000 (36% of total inventory) 

  • Total inventory: 8,900,000

  • Maximum inventory: 10,000,000

  • Number of tokens currently available for trading in the market: 2,420,000 (27% of total stock) 

  • Free Distribution Allocation to Holders: 800,000 (9% of total stock).

Distribution of tokens

  • Number of tokens burned: 11% of the maximum token stock. 

  • Binance program for free distributions to holders: 

    • 8% of the maximum stock of tokens. 

    • 9% of the maximum stock of tokens. 

  • Holders: 24% of maximum token stock. 

  • Reserved Liquidity: 1% of the maximum stock of tokens. 

  • Treasury and System: 46% of maximum token stock. 

  • Team: 10% of the maximum stock of tokens.

Banana Gun on Binance for free distributions to holders

Binance Free Holder Dividend Program is a program that rewards holders of BNB free token distributions based on historical real-time snapshots of their BNB balances. By staking BNB tokens at Simple Earn, users automatically qualify for free distributions to holders (in addition to launch pool and Megadrop rewards).

Banana Gun (BANANA) was launched as the first project on Binance for free distributions to holders. Users who redeemed BNB tokens in Binance's Simple Earn products between June 23, 2024 and July 5, 2024, qualified for the free distribution of the BANANA token.

The freely distributed BANANA tokens were distributed to the spot wallets of eligible users prior to the official listing on Binance, which occurred on July 20, 2024. The initial trading pairs available included BANANA/BTC, BANANA/USDT, BANANA/BNB, and BANANA/FDUSD. , and BANANA/TRY. BANANA token is listed with “emerging”.

Concluding thoughts

Banana Gun is a bot on Telegram that allows traders to snipe new token launches and buy existing tokens. It provides automated and manual trading options while protecting users with an anti-rug pullback system and swaps resistant to maximum extractable value. Banana Gun’s inclusion in Binance’s “Free Holder Distribution Program” allowed BNB holders to receive BANANA tokens that were distributed for free.

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