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BananaSwap Bot: Smart trading on Solana without borders and commissions

Mar 18, 2024
BananaSwap Bot: Smart trading on Solana without borders and commissions
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BananaBot — is the simplest trading bot for Telegram on the Solana blockchain, offering seamless, secure, and ultra-fast trading without the need to pay gas fees, using smart wallets. Users can enjoy the convenience and speed, similar to centralized exchanges, but with the advantages of decentralized security and transparency of the Solana blockchain. This makes trading accessible and efficient, minimizing risks and costs.

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BananaSwap Bot: Smart Trading on Solana without Borders and Commissions - news

How was BananaBot created?

In November 2022, the crypto community experienced a real storm in the digital asset world. It was a crazy time, which resulted in significant financial losses for many, including the platform developers. However, despite the team's interest in decentralized finance (DeFi), they continued to use centralized exchanges due to their convenience and high liquidity volumes. After the FTX collapse, the developers decided they no longer wanted to entrust their assets to third parties.

Since then, we have been looking for the best solution. We needed the convenience of centralized exchanges, but without the risk of transferring control of our funds to a third party.

The team managed to create a project that combines the best of both worlds: ease of use and non-custodial security of the blockchain.

BananaBot: A New Approach to Cryptocurrency Trading

The BananaBot project is a system where private keys are absent. The platform uses account abstraction and smart-contract-based wallets, reducing the risk of unauthorized access to your tokens and simplifying the usage process, making it similar to operating on centralized exchanges. Notable features of working with BananaBot include:

Feature Description
Security through NFT Your tokens are protected by a unique NFT issued for your address, ensuring that no one but you can manage them.
All operations on the blockchain BananaBot ensures full transparency and trustlessness, with operations visible on the Solana blockchain.
Advantageous exchanges The system uses the Jupiter aggregator to ensure the best exchange rates, without gas fees.
Convenient and secure transfer A unique NFT is created for your wallet upon first use, securing access to your tokens.
Referral program You can earn by referring your friends to use BananaBot through a unique referral link.

The developers also offer automated notifications of new tokens that meet liquidity and price impact criteria. However, the bot representatives remind users of the need to conduct their own analysis before investing.

There are plans to distribute profits from fees among token holders, should they be issued. This underscores the goal not just to earn, but to give users control over their crypto assets, changing the paradigm of trading in the market.

BananaSwap Bot: Smart Trading on Solana without Borders and Commissions - news

Getting Started with the Bot

To start using BananaBot, you need to add this bot to Telegram, choosing the "Create Wallet Now" option. This will create a new account on the blockchain for you, and you will receive a unique address, accessible only to your Telegram account. You can deposit SOL to this address to begin trading. It is recommended to send funds from the Phantom wallet, as this address is public and can be safely shared with others.

To receive tokens, use the /menu command in chat with BananaBot to get the BananaBot address, which you can copy by pressing. Here are some recommendations for transferring funds:

  • It is preferable to send SOL to your BananaBot address from the Phantom wallet, as it best supports addresses derived from programs (PDA);
  • Sending funds directly from centralized exchanges is not recommended.

If you still wish to transfer from a CEX, send the funds first to a Phantom wallet, and then to the BananaBot address. Sending SPL tokens directly to the BananaBot address is only supported by the Phantom wallet if you already have SPL tokens on the BananaBot address.

Regarding token sending, you will need to copy the destination address (use the wallet address created through Phantom or Solflare), then in chat with BananaBot enter /menu, select transfer, paste and send your address. Check the address and confirm the transaction. The first time you make a transfer, an NFT is created for your wallet address, making it eligible to receive transfers from your BananaBot account. You can transfer or send this NFT to another wallet address if you want to change the withdrawal address. Only the address to which this NFT is issued can be used for withdrawals, so do not lose or destroy the NFT.

For token exchange, enter /menu, select exchange, and follow the bot's instructions.

In conclusion, BananaBot represents a breakthrough solution in the cryptocurrency world. Using innovative technologies like NFTs for asset protection and Jupiter for aggregating the best exchange rates, this bot offers Solana users unique trading features without gas fees and with minimal risks. BananaBot is not just changing the ways of trading cryptocurrencies; it gives each user control and security, making interaction with the crypto ecosystem more accessible and reliable.

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