What is Banana Gun Token? Why is it so hot recently?

The recent hot trend in Telegram community tokens led by Unibot is primarily due to the integration of decentralized applications and community users through the Telegram Bot API.
Using Unibot allows you to purchase Uniswap assets on Telegram and monitor whale addresses. Once a whale’s wallet purchases tokens on Uniswap, Unibot automatically triggers the purchase. Hence, it is called Uniswap following.

The main difference between Banana Gun and Unibot is that Banana Gun is mainly used to purchase tokens that open on Uniswap. It enables you to get in quickly on the ground floor. However, because Uniswap is a decentralized exchange, Gas Fees are significantly higher than buying tokens on centralized exchanges (CEX).

But since Uniswap’s advantage is that it doesn’t require listing approval, small-cap tokens often debut on Uniswap first and only gain recognition before appearing on CEX. This leads to a wealth effect that is not as pronounced on CEX, and it drives a significant increase in Uniswap’s trading volume.

In reality, it’s the wealth effect that has driven the popularity of trading applications on Telegram.

Banana Gun Token and Initial Release

Banana Gun Token adopts a presale model, and there is no way to receive airdrops. The condition for participating in the presale is holding three or more Banana NFTs. The presale raised a total of 800 ETH in tokens, and each wallet was limited to purchasing 1 ETH worth of Banana Gun Tokens. Although the official announcement mentions second, third, and fourth rounds of presales, based on the number of Banana NFTs held in the first round, it’s likely that the first round will sell out completely, and there won’t be a second round of presales.
As a result, the presale has driven up the floor price of Banana NFTs, with over 90% of users choosing to hold Banana NFTs.

Additionally, BingX spot trading will list Banana Gun Tokens on the 9th, allowing users to purchase them on BingX tomorrow.

Price Estimate and Ecosystem of Banana Gun Token

Revenue: The fees for using Banana Gun’s sniping feature are 1%, and the fees for manual buying and selling are 0.5%. Both token purchase and sale taxes are 4%, forming the main revenue sources for Banana Gun.

Profit Sharing: Token holders can receive 40% of Bot fee income and 50% of token trading tax revenue through the official dApp.

Rewards: Users receive $BANANA as a reward for every transaction made using Banana Gun, with the quantity determined by fee * multiplier X, ranging from 0.05 to 1. The team adjusts this based on market conditions, and rewards are also claimed through the dApp.

Buyback: Part of the buy/sell tax goes into the treasury for token buyback.

-Unibot: Market Cap: Approximately $85 million, FDV: Approximately $85 million, 5% transaction tax.

-Banana Gun Market Cap: Approximately $1.3 million.

Currently, the token price for Unibot is about $50 USD, and the estimated token price for Banana Gun is less than 1 U, valued around 0.5U.

What’s the Future of Banana Gun?

The overall cryptocurrency market is subject to regulation and healthy development, so Uniswap is not likely to last long. Google and Facebook have banned advertisements for Uniswap, highlighting regulatory risks. Additionally, Telegram tokens have been delisted from several CEX platforms due to regulatory issues. Therefore, the short-term price outlook for Banana Gun Token is bullish, but in the medium to long term, it is expected to decline.
How to get Banana Gun Tokens in the presale?

Since the first round of presale tokens has already been snapped up by DAOs and institutions, users can purchase tokens on the BingX spot exchange. Alternatively, you can earn Banana Gun Token rewards by trading using the Banana Gun robot.

Buy Banana Gun Coin

Disclaimer:

This article does not constitute any investment advice, and buying cryptocurrencies carries risks. Losses incurred by users in purchasing cryptocurrencies are not related to BingX, and users are advised to do their own research (DYOR).