🤝Trading FAQ

HOW DO I SELL MY COINS?

Type /start or /home, then press Sell & Manage, in the menu you’ll see several buttons. To sell you need to press either “Sell 25%” or “Sell 100” or “Sell X%” depending on how much you want to sell. Please keep in mind it is all in percentages.

Also, please make sure you have at least 0.005 sol in your bonkbot balance so the transaction goes through, otherwise it may return a "Swap Fail" error.

DOES BONKBOT HAVE A STOP LOSS OR AUTOMATED TAKE-PROFIT FEATURE?

Currently, Bonkbot doesn't have a stop loss or automated take-profit feature, but it’s coming soon.

WHAT IS MEV?

Maximal Extractable Value (MEV) refers to the additional profit that blockchain miners or validators can gain by strategically reordering, including, or excluding transactions from the blocks they validate.

In Bonkbot's case, it means that MEV bots can be faster than you and give you a worse price because your slippage is high.

Here's a very good article that talks about MEV in Solana: https://www.jito.network/blog/solving-the-mev-problem-on-solana-a-guide-for-stakers/ please check it to know more about it.

DOES BONKBOT HAVE ANTI-MEV FEATURE?

To protect against MEV bots, Bonkbot has a feature called MEV PROTECT.

On the MEV PROTECT settings, you can switch between 'Secure' or 'Turbo' modes.

WHAT ARE THE DIFFERENCES BETWEEN THE TURBO AND SECURE MEV PROTECTION MODE? WHICH ONE IS BETTER?

If you trade with extremely High Slippage (up to 50%) you definitely should use secure, otherwise you may start with a 50% loss.

If you trade with low to medium slippage both turbo and secure are good.

If you think getting into a coin a few seconds faster is worth more than the risk of a 10% worse price (default slippage) then you should use turbo.

Mind you, Turbo Mode still uses MEV protection. However, it prioritizes speed, which means sometimes unprotected transactions are sent.

We think most of our users care about entering a trade fastest that's why by default bonkbot is set to 10% slippage and Turbo mode.

Ultimately, MEV Protection is a trade-off between risking a worse price up to your slippage or risking a worse price due to slower sending.

I’M GETTING A SWAP FAILED ERROR ON BONKBOT

If you are getting a swap failed error on Bonkbot, it could be due to a few factors.

1. Please make sure you have enough sol for the transaction (at least 0.005 sol).

2. If the coin has high volatility, please make sure to have a decent slippage (by default is 20%).

3. Also, make sure the token has not rugged.

If after adjusting and checking you’re still having swap failed error issues, please contact the mods.

HOW DO I CHANGE SLIPPAGE?

Type /start or /home, then press on Settings. At the bottom of the menu, you’ll see SLIPPAGE CONFIG, please adjust it to your convenience. Though for high volatility in a token, it's recommended to raise the slippage.

I BOUGHT A TOKEN BUT IT SUDDENLY DISAPPEARED FROM MY ACTIVE POSITIONS

This is likely due to the token rugging. Bonkbot automatically hides the tokens whose value is under a certain threshold, a Minimum Position Value. This value by default is 0.001$. You can change this value in the Settings.

You can also try switching from one of the other Bonkbots. Or exiting completely Telegram, open it again, and refresh Bonkbot.

If this doesn't solve it, please contact the mods.

THE TOKEN I WAS TRADING RUGGED. WHAT CAN I DO?

When trading memecoins, more often than not you will have the displeasure to meet a rug pull for any or other reason.

A rug pull is, in short, a scam. The token creator puts his own money to make the initial liquidity pool and once it goes live and people start buying (essentially adding more money to the initial liquidity pool), the token creator might decide to Remove the Liquidity Pool, effectively taking all the money in the liquidity pool.

However if the Liquidity Pool is locked or burned, this can prevent the token creator from rugging the token in the most common way, but there are other ways to rug still.

After a token has rugged, there's not much that can be done except a few things, like burning your rugged token. By burning the token using a service like Sol Incinerator you can get rid of the rugged token (or scam NFT or other scam tokens) in your Bonkbot Wallet permanently and you can get a bit of SOL back.

To burn tokens using Sol Incinerator you will have to Export your Bonkbot Wallet's Private Keys (as explained here) and connect to Sol Incinerator's website.

BE EXTREMELY CAREFUL AS BURNING IS FINAL AND CANNOT BE REVERTED. BE MINDFUL OF THE TOKENS YOU'RE PICKING TO BURN OR YOU COULD BURN ALL YOUR SOL OR USDC OR OTHER VALUABLE TOKENS BY MISTAKE.

WHY IS THERE QUITE THE DIFFERENCE BETWEEN MY PROFIT AND MY NET PROFIT?

Net Profits shows you the REAL amount you’ll be getting after deducting gas, transaction fees, DEX fees, bonkbot fees, price impact, etc. If there is a big disparity between Profit and Net Profit then it must be due to you holding a big amount of tokens out of the entire supply. That will cause the Price Impact to be very high, which in turn will affect the profit you’ll be receiving after selling.

I’M GETTING A “NO ROUTE FOUND” ERROR WHEN BUYING OR SELLING A TOKEN.

Currently, Bonkbot operates only with tokens that have Sol as a pair. If the token you want to buy is paired with USDC or USDT or a different token, then it won’t work.

This error might also appear when the token has rugged.

When selling, the "no route found" error might be due to the Liquidity Pool being moved from Raydium or Jupiter to another DEX that isn't supported by Bonkbot.

I’M TRYING TO WITHDRAW SOL OR BUY OR SELL A TOKEN BUT BONKBOT GIVES ME THE “TOKEN NOT FOUND” ERROR

This is due to you not replying to the bot’s message. Please make sure you’re properly replying to the bot message and try again. This also applies when withdrawing SOL from your Bonkbot wallet.