March 27, 2024

MR PRO | Should You Invest in Telegram Bots?

GM PRO DOers! 😎

Did you know that over $5 billion in crypto has been traded using Telegram bots? 🤯

A bit crazy for an industry that almost nobody is talking about, right? 

When we saw these insane stats, it got us thinking about whether or not this was legit. 

Often when someone utters the words bots and crypto in the same sentence, it's followed up by scam.

So we had to find out what all the hype was about.

TL;DR: We discovered a token with strong economics which has gone up 3,000% since June and has paid out over $6 million in revenue share to token holders. 😲

As per usual, today, we’ll look onchain to see if what we’ve discovered is actually sustainable and whether or not you can capitalize on this opportunity. 🤑

But first things first… What are Telegram Bots? 🤷

These are handy tools within apps like Telegram (and Discord) that let you do things like trade on decentralized exchanges, manage wallets, and even snag airdrops. 

They even let you trade FriendTech keys. 😅

Lately, they've become a popular, easy, and fun way to interact with the blockchain. Why?

Because making a trade takes about 8 steps across multiple apps and websites. 🤮

Telegram bots help you skip all of that by allowing you to make trades in seconds, with a few clicks, all from Telegram. 

And people love them because one-click trading in the middle of a Telegram chat makes sense. That’s where you get your alpha, and that’s when you want to buy!

Now, these bots are built mostly for traders. And even if many of us aren’t traders, I can see a future where we are swapping tokens constantly as all things become tokenized (shopping, supporting artists, making payments, investing, etc).

The ability to immediately buy/sell/trade tokens from inside the apps we are already using could bring a massive unlock. 🚀

Because they provide such a UX boost, these Telegram bots have amassed hundreds of millions in revenue through fees and taxes in just a few months.

One of the main reasons we’re writing this report is because some Telegram bots share revenue with token holders, a concept we find incredibly exciting.

Wait… These Telegram bots have tokens? And token holders get revenue share?

Not all Telegram bots have a token. But the third biggest application based on weekly active wallets – Unibot – does have a token called $UNIBOT. And yes, they’re sharing revenues with token holders.

Throughout this report, I’ll refer to these ‘bots’ as ‘apps’ or ‘applications’ – because that’s what they are. 

As you can see in the chart below, Unibot (pink) is the 3rd biggest application, behind the two other notable apps: Maestro (1st) and Banana Gun (2nd).

Since its launch, Unibot has generated significant revenue through platform fees and taxes, and has distributed over $6 million to $UNIBOT holders since May 2023. 

And because this has attracted a lot of eyeballs, $UNIBOT has gone up 3,000% in the last few months. 📈

Right now, there appear to be two categories of people excited by the rise of Telegram bots:

  1. Traders who use these tools for efficient trading.

  2. Investors who are intrigued by the potential for earning fees and revenue.

Today, we’ll focus on #2 by diving deep into the economics & tokenomics of $UNIBOT to assess if this is a good investment opportunity for you. 

Furthermore, this report aims to answer 2 key hypotheses:

  1. Evaluate whether or not using a token is beneficial for the growth of the Unibot application. Does the $UNIBOT token provide a mechanism to attract new users?

  2. Analyze the effectiveness of using a token to share revenue with holders. Could this serve as a model for other tokens, like Uniswap’s $UNI, to potentially start sharing fees with its holders in the future?

Before we begin, let’s take a look at the wider market of Telegram bots to get a better sense of the activity occurring through these applications. 


Activity of Telegram Bots

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