LootBot: easy automated Airdrop tasks Telegram Bots

With the rapid development of the cryptocurrency market, Telegram Bots have gradually become an innovative and popular field. Since July this year, the price of a certain well-known bot has surged rapidly, rising from $2.46 in May to $236.98 in August, an increase of nearly 100 times, leading the craze for Telegram Bots.

This surge phenomenon has attracted the attention of the Web3 market towards various Bots projects. Are these Bots just a flash in the pan or a promising new track for the future? This article will focus on a Bot dedicated to Airdrop tasks—LootBot.

Introduction to Telegram Bots

Telegram Bots are small applications that run on the Telegram platform, allowing users to interact with the bots through a flexible interface to accomplish various types of tasks or services.

In the cryptocurrency industry, Telegram Bots have a wide range of application scenarios and value. As an open-source, secure, and decentralized communication platform, Telegram is well-suited to the needs and preferences of cryptocurrency users. These Bots can provide various functions such as news updates, on-chain data analysis, trade execution, community management, and gaming entertainment, bringing convenience and value to users.

Introduction to LootBot

LootBot is a bot focused on executing potential Airdrop interactions, used on the Telegram platform. It acts as a simplified front end for multiple blockchains, enabling interactions through conversation and automatically performing on-chain interaction actions. LootBot can save users a significant amount of time and effort, especially in high-repetition tasks, while incorporating a witch prevention mechanism to efficiently achieve the goal of obtaining Airdrops.

Core Technology

1. Wallet deployment and network selection: You can create up to 10 wallets for Airdrop task interaction, supporting fund bridging across multiple chains.

2. Automated Airdrop: Automatically run airdrop task interactions based on suggestions and selected task routes, and provide interaction data for the corresponding wallets.

3. Integrated Trading: Integrated trading functionality, allowing direct trading of all ERC-20 tokens on Telegram.

4. Anti-witch detection: Provide different planning routes to simulate real on-chain interactions, maximizing the chances of obtaining Airdrop eligibility.

The problem solved

1. Airdrop tasks are cumbersome and repetitive: Automate the highly mechanized Airdrop tasks to reduce manual operations.

2. Airdrop earnings are uncertain: provide market trend references to avoid missing the best selling opportunity.

3. Airdrop risk is high: Reduce the risk of being rejected or identified through the anti-witch mechanism, while improving security.

Business Model

The business model of LootBot is based on subscription fees and trading tax revenue, and it has issued LOOT tokens as the platform token. Holding LOOT allows users to enjoy subscription discounts and participate in the profit-sharing mechanism.

The total supply of LOOT tokens is 10 million, of which 50% is sold to seed investors, 40% is used to add liquidity, 5% is allocated to the team, and 5% is for exchange listing.

The revenue mechanism allocates 75% of the subscription fee and 2% of the transaction tax for distribution to token holders. 33% is allocated to users holding only LOOT, while 66.7% is allocated to users holding both LOOT and XLOOT (the derivative token of LOOT). Revenue follows the "epoch revenue" concept, distributed successively over multiple 24-hour periods.

advantages

• Achieve a win-win situation for the platform and users
• Provide a stable source of income
• Encourage users to hold and stake tokens for the long term

disadvantage

• Income may not be high enough, affecting the attractiveness of the revenue sharing.
• Income may be affected by market fluctuations, impacting stability.
• Multi-epoch linear distribution may lead to insignificant short-term returns.
• The design of XLOOT has increased the complexity of the tokens.

Application Scenarios

LootBot provides cryptocurrency users with an easy airdrop task execution tool, allowing them to create wallets, select blockchains, start tasks, view data, and perform transactions through simple conversations on Telegram.

Advantages

• Easy to use: Simple interface, intuitive operation, no extra software required.
• Efficient Automation: Automatically executes airdrop tasks, saving time and effort.
• Multi-chain support: Supports fund bridging and task interaction across multiple chains.
• Anti-Witch Design: Provide diverse strategies to increase opportunities for Airdrop eligibility.

Disadvantages

• Security risks: Requiring private keys or mnemonic phrases poses potential risks.
• Airdrop quality varies: may execute low-quality or unreliable tasks.
• Legal risks: May involve controversial or prohibited Airdrop tasks.

Development Prospects

LootBot, as a leading project in the Airdrop tool market, has a relatively optimistic future development outlook.

Opportunity

• Airdrop market growth: With the development of the industry, more projects are adopting Airdrop strategies.
• Multi-chain ecosystem expansion: Supporting more blockchains, providing cross-chain Airdrop opportunities
• Platform token appreciation: The use case and value of LOOT tokens are expected to increase.

Challenge

• Security Issues: Need to strengthen platform and wallet security.
• Airdrop quality: Ensure to execute high-quality and trustworthy Airdrop tasks.
• Legal risks: Must comply with regulations in different regions and provide risk warnings.