Dialect Introduces 'Conversational' Trading Bot for Solana on Telegram

• Solana-Backed Dialect Launches Conversational Trading Bot
• How Dialect Operator Works
• Solana and the Advent of Telegram Bots
• Market Numbers for Telegram Trading Bots
• Dialect's Strategy and Future Plans

Solana-Backed Dialect Launches Conversational Trading Bot

Solana$104 5.03%-based communications company Dialect has introduced a conversational trading bot for crypto traders to buy and sell tokens directly from their Telegram chat applications. Termed the Dialect Operator, this Telegram bot transforms text into trades, making it the newest addition to a growing list of such bots on Telegram.

How Dialect Operator Works

The bot receives commands from the Telegram user, sets up their order, and executes it. This process can be quicker than establishing self-trades on platforms like Jupiter information" data-id="5052">Jupiter$0.0058 -4.87%, provided that the user is conversant with the operation.

Solana and the Advent of Telegram Bots

Though Ethereum$2,315 -2.42% has been hosting Telegram bots for a while now, they are fairly new to Solana. This smaller ecosystem, recently experiencing a meme coin rush, offers favorable conditions for the kind of traders who might prefer to send their trading orders to a Telegram bot.

Market Numbers for Telegram Trading Bots

The trading volume of these services is still relatively small. BonkBot, the Solana market leader, reported a trading volume of $248 million last week, which makes up less than 7% of the total volume handled by the Jupiter trading routing service during the same duration. Hence, it's clear that most Solana traders are yet to start sending their orders to bots.

Dialect's Strategy and Future Plans

Dialect, having spent two years building assorted messaging capabilities for Solana wallets, is strategizing to increase the popularity of text-trading on the go with its Telegram bot. CEO Chris Osborn views this as the perfect human-computer interaction interface. He explained that Dialect's bot adopts a conversational trading style, responding directly to orders such as buy, sell, swap, and info with a pop-up user interface that clearly illustrates the upcoming trade and its price. It employs ChatGPT to figure out what to do when the orders don't align with the commands.

The bot functions at a distance from user assets, requiring traders to sign orders in their wallet for execution. This setup is deemed safer compared to other Telegram bots that store sensitive data on the Amazon Web Services cloud platform, according to Osborn.

While this extra security measure might slightly slow down the process for new Telegram bot traders, Dialect aims to enhance Operator's response times to minimize delay. Currently, the service is only available on iOS. However, Dialect is gearing up to expand its offering for Android, the Saga phone, and desktop platforms.

Edited by Jonathan Stoker