By James Davis
Telegram is no longer a traditional messaging app, thanks to the multiple bot coins on the platform. This guide will explain what they are, how they work, and their role in crypto. Keep reading to learn more.
What’s a Telegram Bot Coin?
One feature that makes Telegram exciting is its bots, which operate as virtual assistants, allowing users to automate various tasks. These bots are now popular in the DeFi (decentralized finance) space. Several Web3 developers have made it possible for Telegram users to access DeFi services within the platform. For example, you can use them for trading on DEXs (decentralized exchanges), yield farming, and wallet management. Now, These bots’ native tokens are known as Telegram bot coins.
Top Five Telegram Bot Coins
UniBot Coin
UniBot coin powers Telegram trading Bot UniBot, which executes trades on Uniswap decentralized exchange at an exceptional speed. The coin holders get several benefits, including reduced trading fees, private transactions, and access to MEV (Miner Extractable Value) protection. The Ethereum-based token’s total supply is capped at 1 million.
Unibot provides multiple valuable tools to its users, such as Mirror Sniper for copy trading and a wallet management feature for monitoring your portfolio.
ImgnAI
ImgnAI is the native token of the Image Generation AI Telegram bot. Holders of this coin can stake their holdings to earn a share of the bot’s revenue, generated from several sources such as paid partnerships and advertisements on the bot’s web app.
Additionally, holders can use their ImgnAI tokens to access premium features such as 4K resolution. They can also use them to mint images created by Image Generation AI bot. It is worth mentioning that users holding over 100,000 ImgnAI tokens get early access to unreleased projects from the team behind the Telegram bot.
ImgnAI’s supply is capped at 1 billion.
CGPT
CGPT powers ChainGPT, another Telegram bot that utilizes artificial intelligence technology to generate and audit no-code smart contracts, debug codes, and conduct technical analysis on various charts.
CGPT holders are entitled to several benefits, including access to all tools offered by ChainGPT. In addition, They can provide liquidity to various pools to earn CGPT in return.
ChainGPT team occasionally burns tokens to increase the value of the circulating supply. Like ImgnAI, the maximum supply of CGPT is capped at 1 billion.
DCK
DCK is the native token of DexCheck, a Telegram bot that analyzes decentralized exchanges. The bot also offers a wide range of tools intended to improve the crypto trading experience for users. They can use it to obtain valuable information about a particular token, including its market cap and daily trading volume.
DCK Holders earn the right to vote in the project’s Decentralized Autonomous Organization (DAO) and can stake their tokens to receive passive income. The coin runs on BNB Smart Chain and has a total supply of 1 billion.
TKB
TokenBot’s TKB is the fifth-largest Telegram bot coin. Token Holders get to copy trades at a reduced fee. This has been made possible by TokenBot, which monitors trading activities on various crypto exchanges and then shares trades on its paid groups on Telegram. Being a TKB holder, you will get a 10%-20% discount on the subscription fee.
As of this writing, TokenBot only monitors trades on centralized exchanges. However, the Telegram bot will soon track trades on decentralized exchange dYdX, according to the TokenBot team.
Does Telegram Itself Have a Token?
In 2018, Telegram launched its crypto division, Open Network, to create the Gram token, allowing users to transact within the messaging app. However, regulatory issues arose following Telegram’s move to conduct an initial coin offering that saw the company raise over $1.6 billion.
Telegram was forced by the US authorities to separate Open Network, now known as the TON Foundation, from the company. TON Foundation currently manages the 20th largest crypto, TON. That said, Telegram doesn’t have its native token.
Conclusion
Contrarily to crypto assets like meme coins, Telegram bot tokens have utility, which boosts investors’ confidence. However, like any cryptocurrency, they carry huge financial risks. So it’s important to research properly before buying them.