- PancakeSwap has launched a Telegram bot to help in crypto trading
- Dubbed “Telegram Swap Bot” it can trade more than 3,000 tokens
- Its users will retain control of their assets
Leading DEX PancakeSwap has launched the “Telegram Swap Bot” to help its users trade more than 3,000 tokens listed on the exchange. The bot is available to users using PancakeSwap v2, v3, and Stableswap pools on BNB Chain. According to the decentralized exchange, the feature is meant to eliminate “juggling between apps or websites,” something that will enhance crypto trading and possibly bring more people to the crypto scene.
Bot Remains Non-custodial
In an announcement, the DEX said that the bot’s users will receive updates about their trades inside the bot and enjoy low transaction fees. With Telegram primarily being a general messaging app, PancakeSwap has incorporated the app’s end-to-end encryption into the bot to improve the security of its users.
🐰 The PancakeSwap Swap Bot is now live on Telegram
🔄 Swap over 3,000 tokens on the BNB Chain directly through the bot
👉 Start swapping https://t.co/7rjaQiaAdb
📚 Read more https://t.co/UgDU86xhKs pic.twitter.com/qebkb5Bnd7
— PancakeSwap (@PancakeSwap) November 14, 2024
PancakeSwap also noted that Telegram Swap Bot users are in charge of their funds to align with the DEX’s non-custodial nature. The bot’s launch coincides with a rise in entities launching Telegram-based projects.
Bitget CEO Gracy Chen previously noted that the social media platform has a beneficial relationship with the crypto market. Apart from crypto-focused projects, NFT and web3 projects are also tapping Telegram.
Telegram Values Its Crypto and Web3 Users
NFT project CryptoKities, for example, recently announced its availability as a Telegram game, with plans to reward gamers with NFTs from the CryptoKitties collection. Popular Telegram clicker games like Notcoin and Harmster Kombat have also announced plans to venture deeper into the web3 world.
Telegram is also improving the platform with a focus on its crypto and web3-centric users. Four months ago, it launched a crypto wallet standard enabling gasless transactions. A month later, it unveiled an in-app browser that can connect to the blockchain world. In October, it revealed plans to allow the conversion of Gifts into NFTs.
With PancakeSwap enabling crypto trading directly on Telegram, it’s to be seen whether other DEXs will copy the move.
