0xResearch
How MakerDAO is Becoming Crypto's Top Revenue-Generating Machine | Analyst Round Table
Jan 4, 2024
Matt, Ren, and Brick from Blockworks Research talk about Avalanche Foundation's support for memecoins, Celestia's adoption, MakerDAO's return and strong revenue, lack of quality user-based metrics for chains, Bonkbot's unexpected revenue, and the impending spot Bitcoin ETF approval.
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Quick takeaways
- Telegram trading bots on Solana, like Bongbot, are gaining popularity and dominance, showcasing the network's increasing activity and adoption.
- The reliance on easily manipulable metrics, such as active addresses, in evaluating blockchain networks is being questioned, emphasizing the need for more reliable and indicative metrics.
Deep dives
Bongbot: Rapid Rise in Solana Telgram Trading Bots
Bongbot, a Telegram trading bot on Solana, has gained significant traction, with 770 million lifetime bot volume and nearly 100k cumulative users. Its average volume per user is 8200, generating 9 million in lifetime fees. While the recent success can be partially attributed to the Bongmas incentivization program, it showcases the rising popularity of Telegram trading bots on Solana. Bongbot's performance has positioned it as a dominant player in the space, surpassing other Telgram bots. The growth of Telgram trading bots indicates the increasing activity and adoption on the Solana network.
