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LootBot

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This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is LootBot?

LootBot (LOOT) is a cryptocurrency token native to the LootBot protocol, a Telegram bot designed to automate and streamline airdrop participation across various blockchain networks. The token provides utility to holders, including discounts on subscription fees and revenue sharing, and has a total supply of 10,000,000 with a 5% buy/sell tax applied to each transaction.

How is LootBot used?

The crypto LootBot (LOOT) is a token associated with a Telegram bot designed to automate crypto airdrop farming. Here's how it works:

  1. Creating Wallets: Users can create up to 10 wallets using the LootBot on Telegram, which allows them to interact with various protocols like zkSync, Layer Zero, Scroll, and Linear. This process makes them potentially eligible for crypto airdrops.

  2. Automatic Transactions: Once wallets are created, the bot performs automatic transactions on these protocols, saving users time and effort compared to doing these steps manually.

  3. Token Benefits: The LOOT token accrues fees and revenue to its holders. Additionally, holding LOOT can reduce the cost of using the paid version of the bot by 50% or be staked to earn yield from other users.

  1. Exchanges: The LOOT token can be bought from exchanges such as Poloniex, CoinEx, LBank, and BingX.

  2. Airdrop Rewards: By using the LootBot, users can receive airdrop rewards like the $WEN airdrop, and more are expected as projects distribute their tokens.

Overall, the LootBot and its associated token, LOOT, provide a streamlined and automated way to participate in crypto airdrops, making it easier for users to potentially earn rewards.

How do I store LootBot?

To store LootBot (LOOT) tokens securely, it is recommended to use "Cold Wallets" which are offline and not connected to the internet. There are two types of cold wallets:

  1. Paper Wallet: This is a simple, offline wallet created by generating a public and private key using a program. The keys are printed in the form of QR codes, which can be scanned for future transactions. The paper wallet is stored in a secure place.

  2. Hardware Cold Wallet: This is a physical device, such as a USB drive, where you can store your cryptocurrency. Only the person with the USB drive can access the assets. Hardware cold wallets are preferred by many users, especially for storing large amounts of coins or tokens.

How to buy LootBot?

To buy LootBot (LOOT) tokens, follow these steps:

  1. Choose a Crypto Wallet: Select a reliable crypto wallet that supports your preferred payment method and policies. Popular options include Coinbase Wallet, MetaMask, and TrustWallet. Download the wallet extension on Google Chrome or the wallet app from the iOS App Store or Google Play.

  2. Set up Your Wallet: Create an account, provide personal information, and set a strong password. Note down your Secret recovery phrase or Seed Words carefully, as they serve as a precautionary measure in case you lose your wallet.

  3. Buy Your Base Currency: Choose a cryptocurrency exchange platform and buy a base currency, such as Bitcoin, Ethereum, or Tether. This will be used to trade LOOT.

  1. Transfer Funds to Your Wallet: Withdraw your base currency to your crypto wallet by providing your wallet address and the amount you want to transfer.

  2. Choose a Decentralized Exchange (DEX): Select a DEX that supports your wallet, such as Pancake Swap. Compare trading fees and liquidity before making a choice.

  3. Buy LootBot (LOOT) with Your Base Currency: Connect your wallet to the DEX, select LOOT, and enter the amount you want to trade. Be cautious of market trends and diversify your portfolio to minimize risks.

  1. If LootBot (LOOT) Is Not Listed, Use Smart Contracts: If LOOT is not listed on the DEX, use bscscan or etherscan to locate the smart contract address. Copy and paste it into the DEX to complete the transaction, ensuring you have the correct contract address to avoid scams.

Remember to research and understand the associated risks before investing in LootBot (LOOT) tokens.

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History of LootBot

LootBot (LOOT) is a cryptocurrency that has been actively traded since at least October 2023. The token's all-time high was recorded on February 7, 2024, when it reached a price of $2.06. Since then, the price has declined significantly, with a current price of around $0.37.

On the other hand, the all-time low for LootBot was recorded on October 13, 2023, at a price of $0.1877. This indicates that the token has experienced significant price fluctuations over its history.

In terms of market capitalization, LootBot currently ranks around #1521 on CoinMarketCap, with a market cap of approximately $3.03 million. The fully diluted market capitalization, assuming all 10 million LOOT tokens are in circulation, is around $3.74 million.

LootBot is traded on various exchanges, including decentralized and centralized platforms. The most popular exchange for trading LOOT is Uniswap V2 (Ethereum), where the LOOT/WETH pair has a significant trading volume.

Despite the recent decline in price, LootBot has a relatively strong community presence, with over 3,185 watchlists on CoinMarketCap. The token's price performance is closely monitored by investors and analysts, who provide predictions and insights into its future movements.

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How LootBot works

LootBot is a Telegram-based bot designed to automate and streamline the process of participating in cryptocurrency airdrops. Here's how it works:

Setting Up and Automation

To get started, users need to set up their account by following a simple guide. Once set up, LootBot can completely automate the airdrop farming process based on presets or customized patterns chosen by the user. This automation allows users to discover, participate in, and track their airdrop farming journey across various chains and protocols, all from the convenience of their Telegram app.

Features and Functionality

LootBot offers several key features:

  • Automated Airdrop Farming: The bot generates wallets and automatically farms airdrops across multiple EVM-compatible chains, ensuring users don't miss out on opportunities.
  • Airdrop Tracking: Users can track their airdrop farming progress, including participation history, rewards earned, and upcoming airdrops.
  • Anti-Sybil Detection: LootBot employs measures to prevent Sybil attacks, ensuring that airdrop farming is secure and legitimate.
  • Customization: Users can farm airdrops through preferred protocols at their own schedule, with integration with top protocols on different chains.
  • Trading Integration: The bot allows direct trading of ERC-20 tokens right from Telegram, making it convenient for users.
Tokenomics and Incentives

LootBot has its native token, $LOOT, which plays a crucial role in the ecosystem:

  • Token Supply: The total supply of $LOOT is 10,000,000 tokens.
  • Token Benefits: Token holders are eligible for 50% off subscription fees and 25% revenue share. They can also refer users and earn 5% of all fees collected from referred users.
  • Token Trading: $LOOT can be bought and sold on various exchanges, including CoinEx, LBank, and BingX.
Premium and Freemium Models

LootBot operates on both freemium and premium models:

  • Freemium: This model offers 80% airdrop value received, with features like private key access, referral codes, and optimized gas fees. However, it has limited support response time and a cap on the number of wallets that can be created.
  • Premium: The premium model offers 100% airdrop value received, with additional features like unlimited wallet creation, 24-hour support response time, and OTC trading. It also provides a 50% discount on subscription fees for token holders.

Overall, LootBot simplifies the process of airdrop farming and provides users with a convenient and secure way to participate in the cryptocurrency ecosystem.

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LootBot's strengths

The token LootBot (LOOT) has several strengths that make it a promising investment opportunity:

  1. Automated Airdrop Farming: LootBot simplifies on-chain interactions by automating airdrop farming across multiple Ethereum Virtual Machine-compatible blockchain networks. This feature allows users to securely and efficiently discover, participate, and track their airdrop farming journey from the convenience of their Telegram application.

  2. Airdrop Tracking: The bot provides data on airdrop participation history, upcoming airdrops, and rewards earned, making it easier for users to manage their airdrop activities.

  3. Anti-Sybil Detection: LootBot features anti-sybil detection, offering different curated routes representing fundamental blockchain interactions. This ensures robust security measures to safeguard from fraudulent behavior and hackers.

  1. Token Utility: The LOOT token provides several benefits to holders, including a 50% discount on subscription fees if they hold at least 10,000 LOOT tokens. Additionally, token holders are eligible for 50% of subscription fees and 25% revenue share, and they can also refer users and earn 5% on all fees collected from referees.

  2. Long-term Price Forecast: The long-term price forecast for LootBot is highly optimistic, suggesting significant value appreciation in the future. This positions LootBot as a promising investment opportunity with growth potential over the next decade.

These strengths highlight LootBot's potential to streamline airdrop participation and provide robust security measures, making it an attractive investment option.

LootBot's risks

LootBot (LOOT) is considered a high-risk investment due to its significant volatility. The token's price can be easily manipulated, and it requires a substantial amount of money to shift its price over a short period, which contributes to its high risk score. This volatility means that investors should be prepared for potential losses and only invest if they have a high tolerance for risk and are in a strong financial position.

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LootBot's ecosystem

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LootBot’s team

  • Founder: The founder of LootBot is not explicitly mentioned in the provided sources.
  • Development Team: The development team includes various entities that have backed LootBot, such as AlfaDAO and DCDAO, but specific team members are not listed.
  • Marketing and Community: The marketing and community efforts are supported by social media influencers and content creators, such as prz_chojecki, who shares educational content and promotes LootBot through affiliate links.
  • Business Development: The business development aspect is tied to partnerships and collaborations, such as the creation of Whales Market, an OTC market for airdrop allocations, which is a strategic move by LootBot to expand its services.

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