The rise of telegram bots
Is it worth the hype?
The 22nd edition of Gems Corner centers on the rising TG bot narrative, plus a couple of other alphas.
The telegram bots hype has been all over Twitter this week. Read on if you’re still trying to understand what it’s about. I got you.
In plain terms, Telegram bots are programmable automation assistant that enables users to automate and execute in-app on-chain tasks. The tasks include airdrop farming, wallet tracking, copy trading, sniping DEX listing, etc.
It’s not a new narrative, though; it has existed for a while. It was only recently popularized after CoinGecko created a new category for telegram bots.
UNIBOT, LOOT, and BOLT are the top performers in the bolt category per Coingecko’s listing, with UNIBOT doing more than 500x since its launch.
That’s not even all. Unibot and Mastero recently surpassed GMX to claim the 12th and 13th spot in fees in the last 24 hours. This inevitably translates to more revenue for its token holders and project.
It’s no surprise that bolts are gaining traction because Telegram is widely used among crypto natives, and people always love convenience. TG bolts offer the same service as most dApps with better UI and convenience.
Although, it is not all roses. There are vital concerns about private keys raised by Adam Cochran on Twitter, as attached.
The thing is, Telegrams bolts are recently launching built-in wallets, and keys are encrypted, all of which offer more convenience and security for degens to trade. Even so, I’ll strongly advise you only engage with what you can afford to lose (if you must).
For small trades, cool. For large trades, nah. TG bolts are still in their early stages, and I believe with time, they’ll evolve to accommodate and secure large trades.
Will be keeping a close eye on the telegram bots narrative.
Tweet of the Week!
Actionable Strikes
Lens Waitlist is finally open - link
Claim your Convergence WL spot - link
Sign up for Tabi Voyager Quest (possible drop) - link
Phase 1 of the Orbiter Finance Odyssey Quest is live - link
Project Updates, News & Gems
Celo Migrats to Ethereum L2 - link
Chainlink launches CCIP on Avalanche, Ethereum, Optimism, and Polygon mainnets - link
Lens Protocol introduces V2 - link
Uniswap announces UniswapX - link
Unibot unveils UnibotX - link
Arbitrum announces phase 1 of foundation grants - link
Linea launched Mainnet Bridge - link
Thanks for reading!
Until next Friday,
Viktor DeFi.
PS: I’d love to hear your feedback and comments.