Get Bonk'd #2 - BONKBot

Table of Contents

• Introduction
• What is BONKBot
• Core features of BONKBot
• How to use BONKBot
  • Setting up
  • Buying a token
  • Closing a position
  • Setting up your Referral
• Conclusion

Introduction

The current market has been ushered with a frenzy of meme tokens popping off on Solana. From BONK to WIF and many more, these tokens have captured the retails' attention. However, buying these could be a bit of a pain. While birdeye does provide a widget powered by Jupiter to help you swap easily, that might be hectic to some extent if you're trading on your phone.

To ease this trading process for everyone, there have been a new wave of dApps that help you trade from Telegram itself. What started with Unibot on Ethereum is being continued and improved upon by BONKBot on Solana.

In this blog, we'll be taking a look at what BONKBot actually is, how is it useful to you and finally how you can swap tokens in just a few simple steps!

So, without further ado, let's get started!

What is BONKBot

If you've been living under a rock, disconnected from the ecosystem, you probably don't know what BONK is. Well, to keep it simple, BONK is the ecosystem's meme token!

During the depths of bear market post FTX collapse, BONK emerged on Solana to help the community and builders, despite being labelled as "Just another meme token" . BONK took the ecosystem by storm, integrating with 130+ dApps and building a strong community of over 450,000 members!

We've written a whole blog on BONK and why they are pivotal to Solana that you can check out!

In our last blog, we covered BONKBot in a brief manner however, in this blog we'll be taking a look into why it is a useful tool for traders on Solana.

To give a brief, BONKbot offers a seamless trading experience via Telegram.

• With instant transactions and no need for wallet connections or slippage adjustments, it's designed for speed and convenience.
• It allows for swift execution while charging a mere 1% fee which ultimately goes out to the community.
• 100% of fees from trades go directly to buying $BONK, and 10% of all fees instantly burn $BONK

Overall BONKbot gives you the competitive edge over DEX users with faster trade executions and seamless trading experience.

Core features of BONKBot

BONKBot has several major features that sets it apart from other similar bot trading dApps.

• Trade instantly by just pasting token/contract address!
• It's fast. Very. Fast!
• Provides a comprehensive trade analysis
• Easily withdraw SOL and export private keys
• Advanced features like MEV protection, Referrals and more!
• Community support - All fees comes back to you!

Activate Auto Buy so that when you paste a token address BONKbot immediately purchases the coin. Bypassing any complexities of connecting wallet, setting slippages and more.

All trades are powered by Jupiter so you know you're getting the best prices with the least slippage allowing you to trade without any worries.

BONKBot also provides a detailed trade analysis from market cap, price change and other information of the token. It also shows you your PnL statement to help you make any decisions on the go. Not only that but it also allows for simple withdrawal process and export of private keys to help keep your assets secure

#YourKeysYourCoins

Here comes the cherry on the cake; BONKBot allows MEV protection in partnership with Jito Labs! For those that may not know, MEV stands for Miner Extractable Value which refers to the additional profit miners can make by reordering, including, or excluding transactions from blocks they mine.

This can involve front-running, sandwich attacks, and other strategies to exploit the order in which transactions are processed in a block, potentially impacting the fairness and efficiency of decentralised networks.

Protection from any such unfairness is important which is why this feature is crucial in protecting you from any frontruns or exploits. You can utilise their two modes - Turbo and Secure based on your preference and sit back and enjoy!

Finally, refer your frens and earn 30% for the first month, 20% in the second and then 10% for lifetime on trading fee.

To know more about Refer a fren, visit their documentation page

Being an integral part of the BONK token which heavily focuses on its community, BONKbot plays a pivotal role in supporting the BONK ecosystem via a Bonk Buy and Burn mechanism which ensures that 100% of trading fees generated through BONKbot are reinvested into purchasing BONK tokens, injecting liquidity into the market and burning 10% of all fees collected.

How to use BONKBot

Setting up

• To set up your BONKBot, simply visit their website: bonkbot.io and click on Start Trading. This will take you to your Telegram app where you can start setting it up.
• Upon opening, simply click the Start button or type "/start". Doing so, you'll see a new wallet address for you where you can deposit SOL from your wallet

• Once you've sent your SOL, simply refresh and it will update your balance and voila! You're all set to start trading

Buying a token

• To buy a token, simply click on the Buy button and then paste the address or birdeye link of the token you'd like to buy. For this example, I am going to buy BONK worth 0.1 SOL

• Once you've sent the token address, simply select one of the 3 Buy SOL option. Since my size isn't size, I will choose "Buy X SOL" option and enter 0.1 as the amount. Upon entering, wait for the bot to confirm the transaction and that's it! You're done!

Closing a position

• To close a position, simply type "/start" . This would give you an overview of your current positions which you can select by simply clicking the /Number command in front of the names as shown

• Upon selecting the position, you can select one of the three Sell options to close or manage your position

Setting up your Referral

• To set up your referral, type "/start". Choose the Refer and Friends option from the menu

• This will generate your referral link for BONKBot that you can share with your friends and earn a portion of the fees they generate!

You can use Intern's BONKBot referral link and get started on your trading journey!

Settings on BONKBot

and finally, you can customise BONKBot to cater to your needs. Simply type "/start" and visit Settings from the drop-down

• Simply change your Slippage, Configs and more via this drop down and you're all set to trade instantly!

For more information about BONKBot, you can also visit their FAQ page

Conclusion

With that, we conclude our blog and tutorial on how you can set up your BONKBot and why it is pivotal in on boarding new users! BONKBot not only simplifies the trading experience for meme tokens like BONK, WIF and more but also enhances it with its user-friendly interface and vital features like MEV protection, in-depth position analysis, referral systems and more! By supporting the BONK ecosystem through the Bonk Buy and Burn mechanism, BONKBot contributes to the token's utility as well as providing value to the community.

So, what are you waiting for? Get started on BONKBot now!

Oh and if you're into perps trading and earning yield on your assets, check out GooseFX.

Until next time, Intern out.

Stay Tuned with #GooseAcademy

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Disclaimer: The statements, proposals, and details above are informational only, and subject to change. We are in early-stage development and may need to change dates, details, or the project as a whole based on the protocol, team, legal or regulatory needs, or due to developments of Solana/Serum. Nothing above should be construed as financial, legal, or investment advice.