Recently, Stephane Gosselin, CEO of Frontier Research and co-founder of the MEV Flashbots security project, introduced Alfred – a Telegram bot that supports on-chain transactions.
According to Stephane Gosselin, Alfred will assist users in trading and protect their assets from MEV attacks right within the Telegram messaging app.
Alfred’s use cases include:
1. Users command Alfred to create a new wallet.
2. The bot generates a private key and wallet address automatically.
3. Users can then start token swapping.
Alfred shares similarities with existing Telegram bot projects like Unibot, Banana Gun, or Maestro. Apart from executing direct transactions, these bots also help traders aggregate and collect token data, minimizing the risk of front-running in the DeFi market.
Despite their advantages, Telegram bots still pose security and privacy risks. Recently, Unibot was visited by a hacker who withdrew over $600,000.
It’s worth noting that Alfred currently has no plans to launch its own token. The Frontier development team stated, “Alfred currently has no token because our focus is on product development.”
The team is exploring various revenue models, including applying service fees for bot-executed transactions.