Today, we are looking at a very popular recent project, Banana Gun. In Q2, it ranked third in Ethereum burns, burning 2,200 ETH, surpassing MetaMask. It is somewhat similar to Unibot, which we discussed before, as both are trading bots on Telegram. Currently, it has a total trading volume of $5 billion, a total of 200,000 users, 6,000 daily active users, and an average daily trading volume of $22 million.

The project’s growth has been very strong. The price was at its lowest at $5 last October, and it is now at $59, a tenfold increase. Its current market value is $190 million, and about 32% of the tokens have been unlocked.

Banana Gun

Welcome to Banana Gun, a Telegram bot that allows users to quickly purchase upcoming projects or safely buy tokens that have already launched. Like Unibot, Banana Gun is a Telegram bot that helps users snipe contracts to quickly acquire tokens. Its most famous feature is the sniper function at launch, aiming to become users’ preferred sniper and manual buyer on Ethereum.

Features

• Automatic sniper
• Manual trader
• Anti-rug protection
• Private transactions
• Sandwich attack protection
• Reorg attack protection

Feature Description

1.First Bundle or Fail (FoF)

2.If the indicator is green, it means it is enabled. When enabled, Banana Gun will always aim for the first buy at the start of trading. It can only act as the first bundle in block 0. This feature is recommended to have at least 10 participating wallets for effective operation.

Note:
The more wallets participating in “First Bundle or Fail,” the higher the chance of securing the first buy!
This feature is not applicable for MEV (Miner Extractable Value) releases and Deadblock releases.

3.First Bundle or Fail (FoF) Backup

FoF will not trigger in MEV releases or Deadblock releases, but if the user has enabled the backup, it will buy in block 1 during MEV releases and in the first safe block during Deadblock releases. In this case, it will use the user’s backup miner tip.

Note: It will use the FoF backup miner tip, not the automatic sniper miner tip!

4.Slippage

This feature allows for a normal range of 0-99%, suitable for releases without a maximum transaction limit. It permits the price to fluctuate or fail within this range.

5.Degen mode

When this feature is enabled, users can engage in insider trading posted as a “honeypot” to block bot users. If the user enables this setting, the bot will ignore the security tax setting and will buy the token even if it cannot be sold. Users can quickly toggle this feature by typing /degen in Sniper Bot.

6.MaxTx or fallback

With this feature enabled, users can limit risk tolerance and only allow the bot to make purchases if the maximum transaction does not exceed the user’s maximum spend amount. If the token does not have a maximum transaction set, this feature will be ignored. For example: the MaxTx of the token is 2%, and the maximum cost set by the user is 0.1 ETH. If the value of 2% exceeds 0.1 ETH at the time of user purchase, the user’s transaction will be rolled back (GAS will be consumed).

7.Min (minimum token)

The user can set a minimum percentage or number of tokens the user wants to buy, allowing the bot to buy at least this amount at the user’s maximum spend. For example: If a user sets MinTokens to 1% and the maximum spend is set to 0.1 ETH, if the user’s maximum spend is not enough to purchase at least 1%, the purchase will fail.

8.Anti-Rug

If users want to snap up purchases without enabling anti-Rug, they can turn it off. If the tax exceeds the user’s safe tax settings or a developer attempts to Rug tokens (anything that prevents investors from selling), Banana Gun will attempt to front-run the trade and sell the user’s tokens.

9.Blacklist transfer

If users want to snap up purchases without enabling blacklist transfers, they can turn it off. If a developer attempts to blacklist a user’s wallet, Banana Gun will call the blacklist transfer function to send the user’s tokens to the “transfer wallet” as long as it is enabled.

10.Pre-approval

The default setting is to approve purchased tokens after a rush. In this case, after successfully purchasing the token, it will approve the token in the next block and the user can sell it in the second block. If the user wants to sell the purchased tokens in block 1 or block 2, the tokens can be pre-approved.

11.Sniper settings

Click this button if the user wishes to change the settings used when sniping. Important: Any settings changed here will only affect this sniper. All other pending sniper settings will not be changed, new snipers will use the settings from the main settings.

data analysis

You can see the volume and fees of transactions, especially since May, there has been a sudden surge. The daily transaction volume is more than 20 million, and it was as high as 36.6 million on June 3 (Ethereum 3240, SOL 2.7 million, Base 1.4 million) , the fee is also 1 million every day, and it was as high as 3 million on June 3.

The current total volume is 5.3 billion US dollars, with 218,000 users, 8.5 million transaction volume, 5,414 daily active users, and 40,000 daily transactions. If calculated based on the current average daily revenue of 1 million U.S. dollars, the annual income is also 360 million U.S. dollars, so the current market value of only 190 million U.S. dollars is definitely an underestimate. Because if you calculate 10 times the PE, it is still about 3.6 billion. Considering that FDV currently has 600 million bananas, it is quite a difference.

Token economy

The current total amount of tokens is 10,000,000, currently 3,220,000 are in circulation, the circulation rate is 32%, and the current price comparison is 420 US dollars. As you can see from the distribution, holders 22.2%, liquidity 1.7%, airdrop 1.2%, team 10%, burning 1% , 63.8% of the foundation (will be locked for two years and released linearly in banana bouns for major users).

Token holders income

Share BANANA holders can obtain a share of the revenue on the Banana dApp. The revenue share will come from 40% of the robot’s transaction volume income and 50% of the tax to incentivize Token holders and maintain BANANA price stability.

User Rewards

Users who complete transactions through the Banana bot not only receive a revenue share but also earn some BANANA tokens. The criteria for BANANA rewards are as follows: BANANA rewards = Fees paid x Multiplier (ranging from 0.05 to 1). These rewards can be claimed on their official dApp. However, as time passes and the number of users increases, these BANANA tokens will become inflationary. Banana has anticipated this issue and has implemented several countermeasures:

1% Treasury Buyback: This can offset most of the inflation.

Adjusting the Multiplier (0.05-1): This helps balance token release.

Burning BANANA Tokens: This combats inflation.

High Yield Share: This is attractive to holders.

Creating a Bot Flywheel: This process increases trading volume through bots, leading to higher revenue, increased token trading volume, and more fees collected for buybacks. This cycle maintains a relatively low inflation state, as shown below

Previously, the popular Unibot was also a Telegram bot. Telegram bots have seen waves of popularity, and the number of active crypto users on Telegram is indeed significant. Telegram can almost be considered the IM tool of choice for crypto projects. Currently, from a data perspective, Banana outperforms Unibot in terms of overall trading volume and fees. Unibot peaked at around $1.2 billion, then steadily declined. Will this project follow the same trend as Unibot? I believe it is possible. However, the current project data is impressive, so future data must support this trend. Since the project is built on anticipated outcomes, if future data shows growth, it may continue to rise. Otherwise, it might follow a similar path to Unibot. This requires careful attention.

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