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Telegram trading bot Unibot hits record use on Solana after Ethereum success

Telegram trading bot Unibot hits record use on Solana after Ethereum success
Credit: Andrés Tapia
  • Telegram bots welcome a flood of new users from the memecoin trading community on Solana.
  • Trading volumes through Unibot are now heavily dominated by Solana.
  • The success of Unibot’s migration has caught the attention of competitors in this sector.

Daily users on Unibot, the mega-popular Telegram trading bot, hit an all-time high after its Solana integration this month.

On January 11, Unibot’s daily users soared to a record. Days later, daily users jumped another 43%, reaching a new all-time high of 3,151 on January 15.

Telegram bots are designed to simplify on-chain trading by letting users buy and sell tokens on decentralised exchanges — or DEXs — through the popular messaging app.

These features were trendy among meme coin traders on Ethereum last summer, as six of the top 10 trading pairs of all time were meme coins.

Unibot’s Solana launch has helped turn its fortunes around after falling use on Ethereum, where it was initially launched. Solana users now account for 90% of Unibot’s users, and over 79% of the total volume.

Since its Solana launch on January 4, Unibot earned $275,000 in fees to add to the $534,000 it earned in fees on Ethereum.

This is an over 50% increase in total fees generated that Unibot would not have had without integrating Solana.

Total volume generated by Unibot daily.

The episode shows that Solana, which prides itself on low transaction fees and its dApps’ slick interfaces, is winning over the DeFi degens who make up Unibot’s user base.

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A second start with Solana

Unibot’s expansion to Solana comes as trading on the blockchain has boomed throughout December.

Decentralised exchanges on Solana are now the third-most active among traders behind those built on Ethereum and Arbitrum.

Last summer, Ethereum also saw a similar memecoin mania to the one that just occurred on Solana, driven mainly by the advent of Telegram trading bots like Unibot and Maestro.

At its peak in August, Unibot facilitated over $8 million in daily trading volume through its Telegram trading interface, generating over 11,400 Ether worth $29.5 million in lifetime fees.

But with a significant portion of memecoin trading activity exiting Ethereum to other chains — most notably Solana — in recent months, Unibot’s revenue has also dropped.

Now, in what was a bid to boost revenues, trading bots popular among traders are following them to Solana. And it appears to be working.

Competitors follow suit

One of Unibot’s main competitors, Banana Gun Bot, has also made the move to Solana.

Banana Gun Bot saw similar success following its launch on Solana. The total fees generated on January 16 were the most since December 6, and the fourth highest all time.

In just three days, it has generated over 270 SOL in fees, worth approximately $27,000 at current prices.

Daily active users also saw a bump, on January 16th 1,727 new users and 4,543 total users interacted with the bot. This is just below the previous all time high of 4,730 total users set on November 29.

UNIBOT token

The price of Unibot’s eponymous token has gone up by 85% over the past month, trading around $94.

Revenues generated by Unibot are shared with token holders who hold at least 10 UNIBOT. Holders have received over 4,496 ETH in total rewards, valued at over $11.3 million at current prices.

Unibot's token price

Token holders can earn even more rewards by distributing their unique referral code to other users. Referrers earn 25% of the total fees generated by anyone who uses their referral code.

Holders can expect to receive a 9.43% APR for staking.

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