- Banana Gun is a Telegram bot aimed to improve cryptocurrency trading on the Ethereum and Solana networks by allowing users to snipe imminent token releases and buy tokens that are already live.
- Banana Gun (BANANA) has been added to Binance HODLer Airdrops. Users that subscribed their BNB to Binance’s Simple Earn goods between June 23, 2024 and July 5, 2024 were eligible for the BANANA airdrop.
Trading bots are technologies that help traders boost their chances of success. Banana Gun is a bot created to improve the trading experience in the cryptocurrency market. In this article, we’ll look at what Banana Gun is, how it operates, its tokenomics, and how it fits into Binance’s HODLer Airdrops.
Banana Gun is a Telegram bot that enables both automated and manual trading on the Ethereum network, as well as manual buying and selling of Solana tokens. It intends to be the go-to tool for spotting impending token releases and safely purchasing tokens that are already live.
How Does Banana Gun Work?
- Account creation
To start using Banana Gun, complete these steps: - Register for Telegram: Join the Banana Gun bot channel and create an account.
- Create or import a wallet: Use the instructions to either create a new cryptocurrency wallet or import an existing one.
- Fund your wallet: Make sure your wallet contains at least 0.1 ETH or an equivalent amount of other supported coins.
- Verification: Use the sale bot to verify your wallet.
Automated Trading
You may now use the auto sniper feature to perform transactions as soon as a new token is issued. This is how it works.
Configure sniping parameters: Set the auto sniper’s parameters, such as the token address, snipe tip, maximum investment amount per wallet, and number of wallets used for the snipe.
Monitoring and execution: The bot is always monitoring the blockchain for the launch of the selected token. Once spotted, the deal is executed automatically.
Manual Trading
In addition to automated sniping, tokens can be bought and sold manually. Here’s a simple guide to help you get started:
Input trade parameters: Select the token you want to exchange and the amount you want to buy or sell.
Execute the trade: Use the Telegram bot to do the transaction. It provides real-time feedback and assures timely execution based on the settings you select.
Security features
According to the Banana Gun literature, there are at least three major security mechanisms in place:
- MEV-resistance. Banana Gun provides MEV-resistant swaps, which protect users from a variety of vulnerabilities, including sandwich attacks and frontrunning.
- Reorganize protection. Banana Gun protects against block reorganization (reorg) attacks, which occur when a blockchain’s transaction history is changed.
- Honeypot protection. Banana Gun includes built-in simulations to safeguard users from tokens that are fraudulent from the start. If a successful trade cannot be replicated, the transaction will not proceed.
What Is the BANANA Token?
Use cases
BANANA is Banana Gun’s ecosystem token and can be used in the following cases:
- Voting on suggestions.
- Burning BANANA to add new functionality to the bot.
- Holding BANANA allows access to the holder’s chat.
- Holding BANANA to receive the genuine yield created by the trading bot.
Key metrics (for July 18, 2024)
Token Name: BANANA
Token standards: ERC-20.
The initial circulating supply when listed on Binance was 3,220,000 (36% of total supply).
Total supply: 8,900,000.
The maximum supply is 10,000,000.
The current circulating supply is 2,420,000 (27% of total supply).
HODLer airdrop allocation is 800,000 (9% of total supply).
Token distribution
- Burned: 11% of the max token supply.
- Binance HODLer Airdrop:
- 8% of the max token supply.
- 9% of the total token supply.
- Holders: 24% of the max token supply.
- Locked liquidity: 1% of the max token supply.
- Treasury and ecosystem: 46% of the max token supply.
- Team: 10% of the max token supply.
Banana Gun on Binance HODLer Airdrops
Binance HODLer Airdrops is a tool that distributes token airdrops to BNB holders based on previous snapshots of their holdings. Users that subscribe to Simple Earn with BNB are instantly eligible for HODLer Airdrops (in addition to Launchpool and Megadrop incentives).
Banana Gun (BANANA) is the first project featured in Binance HODLer Airdrops. Users that subscribed their BNB to Binance’s Simple Earn goods between June 23, 2024 and July 5, 2024 were eligible for the BANANA airdrop.
The airdropped BANANA coins were given to qualified users’ Spot Wallets prior to its formal debut on Binance on July 20, 2024. The original trading pairings accessible were BANANA/BTC, BANANA/USDT, BANANA/BNB, BANANA/FDUSD, and BANANA/TRY. BANANA was listed with the seed tag attached.
Final Thought
Banana Gun is a Telegram bot that allows traders to snipe fresh token launches and purchase existing tokens. It provides automatic and manual trading alternatives while safeguarding consumers with an anti-drug system and MEV-resistant swaps. The addition of Banana Gun to the Binance HODLer Airdrops program has enabled BNB holders to get airdropped BANANA coins.
