The crypto market’s volatility makes manual trading challenging, where automated trading with bots like Banana Gun becomes crucial. Traders began using these bots with the rise of meme coins, which offered quick profit opportunities. Banana Gun’s advanced features, such as copy trading, liquidity sniping, and airdrop farming, provide users with powerful tools to navigate the market. The Telegram Bot is becoming so popular that it holds over $1.7 billion in market value.

What is Banana Gun?

Banana Gun is a Telegram trading bot designed to trade and snip upcoming token launches and securely purchase live tokens on the Ethereum network. Currently, the platform only supports Ethereum and Solana chain-based tokens and will soon launch other chains and webpage trading. Banana aims to provide an all-in-one platform for traders wanting to invest in newly launched tokens, such as Memecoins. The platform has its own token called Banana, designed to encourage users to use Banana Bot, including governance and rewards to token holders through revenue sharing.

Banana Gun Features

Banana Gun is a multi-function trading platform available on Telegram and soon via a web app. It offers features like auto-sniping, limit orders, copy trading, and MEV-resistant swaps. The platform includes strong security measures against scams, honeypots, and rug pulls. Users can manage their portfolio, set up watchlists, and customize their interface. Banana Gun aims to provide a comprehensive and secure trading experience across multiple chains such as Ethereum, Solana, Base, and Blast.

• Auto Sniper: Banana Gun’s auto sniper allows users to automatically target and execute trades on new token launches, ensuring they don’t miss out on potential opportunities.
• Manual Trader: The manual trader feature gives users complete control over their trades, enabling precise and user-controlled trading decisions tailored to their specific strategies.
• Anti Rug Protection: It protects users from fraudulent token schemes, commonly known as rug pulls, by identifying and preventing investments in potentially harmful tokens.
• Private Transactions: Ensuring secure and confidential trades, the private transactions feature enhances user privacy and security during trading activities.
• Sandwich Protection: This feature shields users from front-running attacks, commonly known as sandwich attacks, by implementing measures to protect transaction integrity.
• Reorg Protection: Safeguarding trades from blockchain reorganizations, the reorg protection feature ensures that user transactions are secure and not affected by unexpected blockchain changes.

How to Use the Banana Gun Bot?

Registration

• Register via the Banana Gun Register Bot: Start by signing up through the designated bot.
• Create or Import a Wallet: Follow the instructions to either create a new wallet or import an existing one.
• Fund Your Wallet: Ensure your wallet has at least 0.1 ETH to begin trading.
• Verify the Sell Bot: This one-time verification is necessary, though the bot won’t confirm success.

Wallet setup

There are two ways users can set up their wallet. Users can generate a wallet through Banana Gun or can import an already existing wallet using the private key. If the user is new they can start by clicking on the button and then create a wallet button. Users must be advised to write down their private key if creating a new wallet.

Auto Sniping

After creating a wallet, users can set up auto-sniping by copying and pasting the contract address of the token they want to snip into @BananaGunSniper_bot. It will now ask for a sniping amount, which can be a minimum of 0.01 ETH, including the bot tip. Banana Bot uses ETH as a bribe, not GWEI. In case the snipe fails, the tip amount will return to their wallet.

ETH or Tokens Transfer

Users can transfer their ETH or any other tokens anywhere on the blockchain using Banana Gun. To do this, select the option to transfer ETH or a token, then choose the destination wallet. If it’s an external wallet, paste the wallet address at this step. Specify the transfer amount and leave some ETH in the wallet for gas fees.

Selling

Users can sell their tokens for ETH or SOL. Users can sell tokens across multiple wallets with one click if they purchase with more than one wallet. They can also sell a specific token percentage to avoid full-stacking a wallet or sell a designated ETH amount of the token from a specified wallet.

Limit Order

With the limit orders feature users can use bots like spot trading. Limit orders protect funds from sudden changes and volatility in the crypto market. With the introduction of the Limit Orders feature, Banana Gun now offers the following order types:

• Limit Buy Order: Set a specific price to buy tokens.
• Take Profit: Automatically sell tokens when they reach a target price.
• Automated Take Profit: Pre-set take profit orders for tokens before they launch.
• Stop Loss: Sell tokens to prevent further losses if the price drops to a certain level.
• Trailing Stop Loss: Dynamically adjusts the stop price to lock in profits as the token price increases.

Copy Trading

The Copy Trade feature allows users to select the wallet of an active trader and replicate their buys and sells. It’s crucial to configure settings according to personal preferences, as copy trading effectively invests one’s capital in another trader’s decisions. Users can start copy trading by selecting “New Copy Trade” from the Copy Trade menu, paste the wallet address and assign a nickname to the wallet.

Roadmap

Banana Gun is always working on innovations to enhance the trading experience and give users a competitive edge. Instead of a traditional roadmap with fixed deadlines, they present their plans through a ‘now/next/later’ approach. This dynamic method allows the team to adapt and prioritize developments based on user needs and market conditions.

Banana Gun (BANANA) Token

BANANA is the native token of the Banana Gun platform, which is an ERC-20 token on the Ethereum blockchain. The token’s goal is to create the perfect Banana Gun ecosystem for the long term and to encourage active community engagement. The token is deflationary in nature and will be within a -30% / +30% range with three major dependents: token price, Bot and trade volume. Banana Gun ensures sustainability and mitigates selling pressure through several measures: buybacks using treasury funds, balancing emissions with an adjustable multiplier, increasing Bot volume through the Ape-to-Earn program, and introducing features that burn $BANANA tokens, removing them from circulation. These strategies aim to minimize inflation and potentially enforce deflation, creating a stable and sustainable ecosystem for users.

Holders of Banana token can earn rewards on Banana Dapp. To be eligible for rewards on Banana Gun, users must own 50 $BANANA tokens. Users can claim rewards without gas fees once their revenue has accrued to 0.1 ETH or 0.1 SOL. On EVM chains, claims can be made in either ETH or BANANA, while on Solana, claims are only available in $SOL.

• Token Name: Banana Gun
• Ticker: BANANA
• Blockchain: Ethereum
• Token Standard: ERC-20
• Contract: 0x38e68a37e401f7271568cecaac63c6b1e19130b4
• Total Supply: 8,900,000 BANANA
• Max Supply: 10,000,000 BANANA
• Circulating Supply: 2,420,000 BANANA (27% of total supply)

How Do I Buy BANANA Tokens?

• Go to Gate.io Exchange and create an account by entering your email ID and password.
• Set up your fund password by entering settings; this password will be asked during fund withdrawal.
• To buy BANANA tokens, you must complete KYC with the proper documents.
• After KYC, go to Spot Trade, search for BANANA, and select.
• After opening the new page, fill in the amount in BANANA or USDT you want to buy, and click the buy button.
• After a successful buy, go to the Wallet > Withdraw page.
• Here, select BANANA, and then enter the wallet address.
• It will ask you for your fund password, 2FA, and email code; enter them correctly and submit.
• Your BANANA will arrive in your wallet after a few confirmations.

Conclusion

Telegram Bots or automated trading bots facilitate users’ executing trades on various platforms by providing functions such as copy trading, liquidity sniping, and airdrop farming. Despite their convenience, these bots come with risks, including smart contract vulnerabilities and custodial risks, that users should be aware of before utilizing them.

Related Update

On September 19, some community members reported that their Banana Gun wallets were stolen for unknown reasons. In response, Banana Gun suspended services for an investigation. On September 25, the official investigation revealed that 11 users were affected, resulting in a total loss of $3 million. All affected users will be fully compensated by the Banana Gun treasury, without any token sales involved. A thorough investigation by the Banana Gun development team and external experts identified potential vulnerabilities in the Telegram message oracle used by Banana Gun, which may have led to the attack.


References:
https://x.com/BananaGunBot/status/1838660010387116484
https://x.com/BananaGunBot/status/1836789190953963606