Any veteran in the shitcoin arena understands that with time, some of the most reliable trading bots get rusty, losing edge and ultimately causing indescribable pain when it gets to that point where it just lags, and your snipes execute 50 years after they should.

This usually happens as a result of neglect from complacent bot projects who are not keen to keep on updating and refining the service.

A user complaining about the decline in the service rendered by [redacted] - an automated trading platform.

What's truly perplexing is the irony here: statistics show that trading using bots has reached unprecedented astronomical levels in recent months, marked by an epic surge in memecoin activity. More users mean higher trading volumes and a portion of the fees on these trades directly benefit the bot creators.

For this reason, it's important to pay attention to tools or bots with teams keen to keep refining their edge, shipping fast, and growing as a result.

Or, at the very least, judiciously share revenue with the users. I mean, some nice stimmy for losing all that money on memecoins won’t hurt after all, right?

We recently introduced you to ReadySwap, a top-tier Telegram trading bot, covering its features and how to get started using it.

Since we last discussed ReadySwap, the trading bot has experienced steady growth across various areas, consistently rolling out updates. However, it's important to acknowledge that the trading bot market is highly competitive due to the immense demand.

In light of this, today focuses on comparing ReadySwap with its competitors. We'll begin by exploring the current landscape, highlighting what's missing, and then examining ReadySwap's unique advantages.

Finally, we'll compare current metrics, such as trading volume, revenue, performance, tokenomics, and user base, with the competition.

The Current landscape

The Telegram bot market or ecosystem on Solana is fierce, with trading bot service providers such as Bonkbot, Trojan, Wagie, and Shiruken having a significant market share.

For those who are familiar with using more than two of the aforementioned platforms, it's worth noting that most features are common across them. However, each platform also has unique features and functionalities that set it apart.

For example, Bonkbot’s unique feature is a Telegram channel that shows newly launched tokens. This channel also has an additional feature that allows you to click and buy these new launches almost immediately.

Although the Bonkbot currently has the highest lifetime volume on Solana and a referral system built around the BONK token, there have been quite a lot of complaints about the bot's execution speed and one too many compromise allegations, which just leaves one wondering about the security of trading using the bot.

This has led to a decline in active users who have pivoted to other platforms.

Trojan bot, on the other hand, allows for cross chain bridging using its bot and has also generated a significant lifetime volume of over $5 billion.

Upon launch, Trojan received significant attention thanks to its most popular feature, the great UX. However, the bot's usage has recently normalized.

Shiruken trading bot is another one down the line. It is slightly different from the others in that it is a multi-chain trading bot that allows trading on EVM chains as well as on Solana.

A unique feature of this bot is its auto-group sniper feature, which aggregates users’ bribes into a bundle and executes them in one transaction.

Even BananaGun, the leading bot which rose to popularity on Ethereum, has started now offering its services on Solana to take advantage of the memecoin craze on the chain.

Although in terms of features, there isn’t anything truly unique about their Solana offering. It just gives you an idea of how stiff the competition is.

Almost every bot out there has unique features and advantages that set it apart from the rest. However, most also have downsides, often struggling with execution and operating in a less-than-ideal ecosystem.

ReadySwap, an alternative to your favorite trading bot, combines the best features of the aforementioned trading bots and more with a community-centric ecosystem.

The ReadySwap bot enables copy trading, allowing users to seamlessly mirror high PNL wallets across all relevant liquidity pools on Solana. It utilizes unique functions and protective features to generate passive income. It also has one of the most efficient token-sniping systems in the TG bot sector.

Furthermore, unlike certain bots with one or two DEX support, ReadySwap supports four DEXs, including Jupiter, to aid liquidity access and multi-pool routing, thereby making trades much smoother.

ReadySwap also prepares for downtimes with five backup bots connected to the same backend and synchronizing with user wallets.

Other ways where we can see significant comparative improvements in ReadySwap’s performance are the following:

Revenue

If a trading bot serves users' needs, revenue growth will reflect this, as will the protocol's growth over time.

For perspective, ReadySwap generates revenue from fees, charging 1% fees on buys and sells.

The protocol has generated over $2.5 million in total revenue. However, it is how this revenue is used that is the most important aspect and where it stands out from the rest.

ReadySwap spends 58% of its revenue on revenue share and token buybacks. Since its launch in May, the ReadySwap has spent over $650,000 in revenue sharing/buybacks.

When we compare ReadySwap's revenue generation rate with BananaGun's, for example, we can see that the project is moving in the right direction—with 1/10th of BananaGun’s daily users, ReadySwap produces 1/3rd of their revenue.

Remember that ReadySwap is a much newer product, primarily used on Solana.

Additionally, ReadySwap’s revenue model is designed to give more revenue to its ecosystem than Banana Gun.

Trading volume

To generate revenue, ReadySwap has to attract users, which translates to volume.

We can also see significant growth in this metric with ReadySwap edging BananaGun in strictly SOL volume.

Most of ReadySwap's volume comes from the Solana network, and with more network integrations, this volume is likely to be more than quadrupled.

Since May, total trading volume has increased by over 58%, and average daily volume has increased by over 266%.

These numbers will continue to increase thanks to the incremental performance in ReadySwap’s referral program, which is 2x and up 3x the percentage BananaGun offers.

Daily active users

ReadySwap has also witnessed comparatively better user numbers, signifying steady growth in lifetime users. In the last two months, the platform has seen a 136% increase in users, growing from 6,000 in May to 14,200 in June and now sitting above 15,000.

Other trading bots like Banana, despite having more users, cannot boast of such monthly percentage increases in user acquisition.

These figures prove that the team's strategies, such as referral programs and revenue share, are indeed working to drive user growth.

Growth

ReadySwap has so far impressed in wide marketing efforts to ensure that value returns to its users. The amount paid as revenue share is financial proof of the work that’s been done behind the scenes.

A few of the strategies employed by the Shilluminati DAO are onboarding international trading communities and partnering with the region's top influencers.

This strategy has helped secure over 2,000 users in Poland alone.

The team has also adopted a trader-based strategy, partnering with top traders to promote ReadySwap on their platforms.

These and many more strategies will continue to drive growth adoption alongside the incremental development of the product with additional features and an expansion to other networks.

Thoughts

The likes of dogwifhat and Bonk at number 1 and 10 of the 10 best-performing cryptocurrencies with a market cap of over 1 billion dollars is proof that the Solana memecoin season is still very much alive.

ReadySwap is attempting to steal significant market share in this flourishing memecoin sector. Their guerilla marketing approach and fast development are proof that they’re likely to succeed even more.

The truth is in the numbers, and so far, their numbers have been convincing that they’re on the right path.

For perspective, factoring in a conservative revenue ratio of 15% and brand recognition at <15% of Banana’s FDV, the estimated fair value of the $RS token would be a 50M market cap.

At the moment, the token market cap sits 10x below that. With the amount of revenue share being paid to holders, make of this what you will.

While our opportunity antennas are signaling positive sentiments about this project, we advise that you do further research before taking a plunge.