UNIBOT token value improved by twenty% immediately after competitor BANANA encountered an error in the wise contract

The two Telegram bot tokens that have attracted curiosity recently, UNIBOT and BANANA, had opposite swings in the early morning of September twelve.

One of the latest emerging trends in the cryptocurrency industry is Telegram bot tokens, which are equipment immediately developed on the Telegram messaging application to aid end users automate personal important exchange and storage duties.

The task that started out this trend is UniBot (UNIBOT), which when recorded a token that reached practically 220 USD in mid-August 2023. However, the value of the currency later on practically split by 4 values as Investor consideration has shifted elsewhere.

In early September, the local community was buzzing about a new Telegram bot token, referred to as Banana Gun (BANANA). Last week the task launched a prosperous token presale, raising 800 ETH (extra than $one.three million).

In the early morning of September twelve, Banana Gun announced the issuance of tokens and the implementation of a swap pool on DEX Uniswap.

Dwell BANANA GUN

We are alive! Our contractual handle is:

Banana $BANANA
0xCcF5CF1D039F1a7B66Be855B79B14A01D0a4dbd5

You can search at the graph at:https://t.co/wDApNKIOvV

Request your pre-sale bag (even if you requested the bait token):https://t.co/QGxrBuU3v9

Anything else is fake or a… pic.twitter.com/gT8thjks8E

— Banana Gun 🍌🔫 (@BananaGunBot) September 11, 2023

However, just one hour later on, the task announced that it had identified an error in the wise contract and that it could not be fixed swiftly, in spite of previously claiming to have carried out two audits.

Announcement
We have a bug in our contract that we cannot correct.

Despite two checks, there is a bug in the contract with our taxes, which will allow folks to promote their bags when owning tax tokens left in their wallet.

one. The initially stage is to promote the Treasury portfolio to dry up the LP…

— Banana Gun 🍌🔫 (@BananaGunBot) September 11, 2023

To steer clear of staying attacked by terrible actors, the Banana Gun group determined to download the BANANA tokens to withdraw all the WETH liquidity. The task is committed to redistributing tokens and applying the recovered cash to be certain liquidity yet again, and has taken a snapshot ahead of withdrawing LP to return it to end users, but has not announced a particular plan since extra is wanted. .

TO MOVE ON

Shitty predicament, but we’ll do all the things we can to make it suitable. Happy to share an action prepare however.

one. We are owning our new contract verified, but will not launch it right up until we are absolutely sure all the things is in purchase.
two. We will consider care of our traders.

Let’s go… pic.twitter.com/AqyFkbjdvH

— Banana Gun 🍌🔫 (@BananaGunBot) September 11, 2023

The value of the BANANA token then dropped to practically zero.

15 meter chart of BANANA/WETH pair on Uniswap, screenshot by DEXScreener on the morning of September twelve, 2023

According to the evaluation of some X (Twitter) end users like AzFlin (former Uniswap worker observed out that they had been pulling tokens on Base), the Banana Gun wise contract looks to have a programming error, as a consequence, the token income charge is not four% was deducted by the vendor, as a result immediately inflating BANANA.

OOF: There was a dilemma with the file @BananaGunBot taxes. The four% income tax stays on the seller’s account. So if you promote a hundred BANANAS, you will have four BANANAS left in your account. The faulty code is in the `_transfer` perform. GG at this launch

Look at this message: https://t.co/Wc3BreFyTa.… pic.twitter.com/4ORvlJpOvu

— AzFlin 🦎 (unemployment arc) (@AzFlin) September 11, 2023

Inflationary. If you promote a hundred BANANAS with a four% commission:

– the contract will get four BANANAS
– the purchaser receives 96 BANANAS
– hold four BANANAS

You just printed four% of the transaction worth

— quit (👀,🦄) (@0xQuit) September 11, 2023

Meanwhile, UNIBOT’s value at 1 level rose as a great deal as twenty% immediately after mastering that its competitor’s token launch had failed, but was then brought back to its outdated degree.

15 million chart of the UNIBOT/WETH pair on Uniswap, screenshot by DEXScreener on the morning of September twelve, 2023