Five pictures predict the future direction of the "trading bot" track

Original | Odaily Planet Daily

Author| Nan Zhi

Since the beginning of the year, the popularity of on-chain Meme has gradually increased with the decline and sideways trend of BTC. In addition to the old-fashioned trading Bot Maestro, a large number of professional trading Bots have emerged. Among them, Unibot is the first to rise, and the market value of tokens once exceeded 200 million US dollars. Competing products. The price of UNIBOT has fallen rapidly since September, and as of September 3, the closing price was 88 USDT.

**In this article, Odaily Planet Daily will compare the functional differences and profitability of various trading Bots, and give an overview of the current development and trends of the Trading Bot track. **

Trading Bot Function Overview

The following table lists some of the more mainstream trading Bot functions. As can be seen from the table, the functions with the highest coverage are the “Anti-MEV” and “New Coin Sniper” functions, followed by limited Among the price list, follow-up and anti-Pixiu functions, the lowest coverage is the anti-Rug (Anti-Rug) and sell-to-front-run (FrontRun) functions, or because such functions are not simply smart contract transactions, but involve Mempool and other aspects.

From the difference points of each trading Bot, it can be concluded that its differentiated development direction includes:

1. The link is opened to provide the most comprehensive full-process service. The front-end includes information broadcast and sniping of new coins, followed by popular rising trends, new coin promotions, and finally, one-step ahead-of-the-way selling services. MEVFree even “considered” the final tax issue and launched a contract holding token function.
2. Professional upgrades, Bots kill “manual” users, and some Bots aim to occupy the Bot market share by providing professional functions such as 0-block rush purchase and FrontRun.
3. AI integration. In addition to the existing MEVFree, which has launched an AI buying and selling recommendation function, for example, the leading AI project PAAL also announced that it will launch a trading Bot business.

The following is some trading Bot basic overview, including:

1. Token situation: The proportion of token issuance by the head is moderate, and there are many token issuance agreements in the overall market, all of which have set transaction tax as a source of income.
2. Usage threshold: Usage fees are usually charged, and some protocols open advanced functions through currency holding.
3. Agreement income: Usually the main source of income is the use fee, and some include transaction tax.
4. User income: most users do not participate in sharing, and the projects mentioned in this article are only involved in Unibot and MEVFree.

Market analysis

The figure below shows the usage fees of major trading Bots since February 28 (due to large fluctuations, the three-day average is taken), and the total revenue of the agreement after including the token transaction tax (Unibot and WagieBot), Odaily Planet Daily Summarize three stages of development:

1. One family dominates: From November to December 22, the average daily income of MaestroBot was about 4-5 ETH, and from January to February 23, it fluctuated at 6-10 ETH. After BTC began to fall from the peak of 31,000 U in April, the income surged, reaching a peak of 155.61 ETH in a single day on May 23.
2. Barbaric growth: In the second round of upward trend in July, BTC traded sideways at a high level, and Bots headed by Unibot began to gradually occupy a certain market share. However, because Unibot’s total revenue is actually the sum of royalties + transaction tax dividends, and transaction taxes are significantly higher than royalties, the protocol’s revenue structure is temporarily closer to Ponzi, raising concerns about its sustainability.
3. Segregated regimes: At present, many bots have begun to exert their strength. For example, BananaGun has seen a sharp increase in the use of its new coin sniping function, but the overall meme market share has not increased significantly.

The figure below shows the comparison of royalty income among the four trading Bot projects. Since late July, Unibot’s share has fluctuated around 20% -25%, while BananaGun has continued to rise and MaestroBot has declined accordingly.

As can be seen from the previous revenue chart, although WagieBot’s total revenue has skyrocketed, the actual revenue comes from transaction taxes. Bot’s share of royalties is negligible both in the revenue structure of the protocol itself and in the overall market. .

The picture below shows Unibot’s income structure change chart. Although the daily fluctuations are large, the proportion of usage fees is on the rise.

On the other hand, it can be seen that Unibot’s total revenue increases and decreases simultaneously with the transaction tax, and the extreme point of total revenue is often the extreme point of the proportion of transaction tax, indicating that *transaction tax is still the main source of revenue for the agreement *. Especially since the plunge in September, while the usage fee has declined, the proportion of transaction tax has risen sharply, reaching a maximum of 95%.

in conclusion

Trading Bots In this era of fragmentation, many new types of trading Bots are still emerging, such as SnakeBot, which specializes in tracking giant whales, and Newsly, which is based on breaking news trading. However, the threshold of these functions is not high, and it is easy to be copied by various top projects.

Therefore, the potential development paths of major projects may fall into two categories:

1. Become the “Penguin” of the Bot world: Become a one-stop tool by copying the most prominent features of competing products. For example, Unibot has launched Unibot X, a unified trading terminal, and stated that it will “commit to separating Telegram and web-side applications”, and from the route it disclosed, more horizontal function expansion will be added.
2. Become a “One Punch Man”: Since the scale of single coins in the Meme market is often very limited, no one wants to be a bearer. Therefore, by achieving the ultimate in a certain function, all users in this link must use it. For example, the current market Meme automated trading project AimBot also announced the integration of BananaGun to snipe new coins.

Although it has occupied a certain market share, Unibot’s moat is not unbreakable due to the existing market and the lack of network effects, and it remains to be seen whether it can build its brand barriers.

References

1. CoinGecko Telegram Bot List
2. MaestroBot Documentation
3. Unibot Documentation
4. BananaGun Documentation
5. MEVFree Documentation
6. Wagie Documentation
7. Maestro Data Sources
8. Unibot data source
9. BananaGun data source
10. Wagie data source