DecentraCard Twitter Spaces with Xception

In DecentraCard’s Twitter Spaces which took place on April 4, 2024, Amedeo hosted SerPT to discuss MEV trading tools, Beta to public release, user rewards, platform profitability, future expansion, and more! Read our notes below to learn more.

Background

Amedeo (Host) – Contributor at DecentraCard

SerPT (Guest) – Contributor at XCeption

XCeption – first operational MEV bot

DecentraCard – a pioneer in the world of digital payments and services

MEV Trading Platform: Public Beta Success and Rewarding User Engagement

SerPT says that their last participation was via a team member in a closed beta stage, and now they’ve moved to public beta, improving user experience with their trading tools on Telegram, highlighting an integrated MEV bot for user benefits.
Amedeo comments on the positive impact of Xception‘s work in transforming the negative aspects of crypto transactions into positives by providing tools that help users gain from MEV strategies rather than suffer losses.
SerPT explains the democratization of their tools, allowing widespread access and participation in MEV opportunities, and mentions a unique feature where a percentage of ecosystem fees fund a recovery pool for user rewards, akin to airdrops for transactions within their ecosystem.
SerPT explains user engagement, noting a surge in users importing wallets and approving tokens for MEV opportunities, which leads to increased active trading after users experience initial rewards.
Amedeo asks about the specifics of the reward system, how it generates rewards, the frequency of payouts, and other operational details.
SerPT describes the reward systems, focusing on MEV rewards generated from user-approved token transactions, the process for claiming profits in either accept tokens or direct transfers and the option to receive stablecoins or accept tokens from the reward treasury.
SerPT says that they have MEV-related rewards for users who have approved the same token and have been trading via their bot. These users get a piece of the performance fee from those MEV transactions, rewarding multiple users even if only one gets the actual MEV opportunity.
Amedeo appreciates the system for rewarding users who didn’t get their transactions through, emphasizing it encourages continued use and attempts at transactions.
SerPT says they went live about 35 days ago, on the 29th of February, and mentions the platform is doing well with a surge of active users.
SerPT shares that they’ve seen about 4.7 million in volume through their router and about 200 active traders, with more users interacting with their bot without actively trading yet.
SerPT reveals a running average of about 70k in profits for the last 30 days from the MEV side, highlighting the platform’s profitability even during the closed beta stage.
Amedeo is impressed by the platform’s profit, even in beta, and suggests that the numbers, representing hard proof of success, will help attract more users and foster growth.
SerPT says that their platform is still in the beta stage and emphasizes the potential competitive advantage of bundling transactions to make them more competitive once they have more user engagement and transaction throughput.
SerPT notes they have unexpectedly launched base support during their beta stage and are actively working on integrating with different EVM chains to cater to diverse trading needs.

MEV Strategy, Referral Program, User Engagement, Token Benefits, Treasury Management, Community Involvement

Amedeo asks if the plan to adapt to multiple chains includes ease of implementation across different layers and chains.
SerPT explains that implementing their MEV strategy varies in complexity across different EVM chains due to unique characteristics like the first-come, first-served method on Arbitrum, indicating some chains might be challenging for MEV implementation. However, trader-focused features are less resource-intensive and will be expanded based on demand.
Amedeo asks about the possibility of an affiliate or referral program to incentivize user growth.
SerPT says they have a referral system that rewards users with 25% of trading fees from direct referrals and 2% from indirect referrals up to five tiers, indicating a comprehensive approach to user engagement and platform growth.
SerPT talks about upcoming features, including snipers, based on community feedback, the implementation of simple limit orders, further chain expansions, and the rollout of a reward system highlighting active development and response to community input.
Amedeo asks if there’s any KYC or information collection required from users of their services besides their wallet address, noting the comprehensive nature of the services offered.
SerPT says that they do not collect KYC information and users are free to use their bot with just their wallet address, provided they agree to the terms of service.
Amedeo asks whether the services are available to everyone or only to holders of the accept token.
SerPT says that anyone can use their services, but holders of the $XCEPT token receive benefits like priority access and enhanced rewards within the ecosystem.
SerPT discusses the potential for a token-gated tier system but prefers a priority system that rewards token holders and generates revenue through a performance fee on opportunities found by users, thus expanding the ecosystem.
Amedeo asks about plans for listings, burns, buybacks, or any token-related updates.
SerPT shares a plan for implementing a substantial token rewards system tied to the ecosystem’s activities, mentioning that fees collected are used for buybacks to fuel the reward system and expressing enthusiasm about the positive impact of buying their token on the market.
SerPT mentions that their treasury is strategically utilized, with fees contributing to buying their token on the market for ongoing rewards, potentially enhanced in the early stages for marketing or ecosystem-boosting purposes.
Amedeo asks about the decision-making process regarding the treasury, if it involves community voting or input, or if decisions are made internally based on feedback from Telegram, Twitter, and other media outlets.
SerPT says that strategic decisions are primarily made internally after consulting their advisory. They consider community voting when appropriate and express interest in the idea of transitioning towards a DAO structure to better incorporate community feedback.
Amedeo highlights the importance of involving the community in decision-making, especially as the number of holders grows. He highlights that a DAO could help gather a broader consensus and keep the community engaged, beyond those active on Telegram.

Bridging AI and Web3: Enhancing Ecosystem Onboarding and Mobile Integration

Spacejamm asks about bridging AI and Web3 to onboard more people into their ecosystem.
Amedeo acknowledges the broad application of AI across various sectors, including its occasional use in their announcements. He says that while their service offering ways to convert crypto to digital assets does not heavily rely on AI, they are open to its use for enhancing communications.
Spacejamm asks if there are plans to innovate within Web3 integration, citing the example of a mobile wallet integration into eSIM.
Amedeo mentions their interest in expanding their offerings, mentioning the development of a mobile dApp for Android and iPhone users to broaden their reach and integrate new features. He underscores the importance of such expansions in driving revenue, supporting the project, and enhancing marketing efforts.
SerPT notes the launch of the web store and expresses interest in the upcoming mobile version, eager to learn more.
Amedeo shares anticipation for the mobile app, revealing a lack of direct experience with it due to its ongoing development. He mentions the developer’s background in app development, specifically APKs for Android, fueling his optimism for the app’s quality.
Amedeo admits to not having tested the app yet but is excited for its potential, emphasizing the importance of compliance and transparency in their services to prevent any risk of fund loss for users.
Amedeo explains the careful compliance checks and transparency practices in place to ensure the security of their services, contrasting their approach with competitors who have faced issues due to non-compliance.
SerPT appreciates the emphasis on compliance and integrity, citing examples of projects that suffered due to cutting corners.
Amedeo metaphorically criticizes projects that deliver unfinished products, comparing them to half-baked cakes that appear done on the outside but are incomplete inside. He highlights the commitment to delivering fully realized and safe products.

Decentracard’s Integration Dilemma: Balancing Token Value and Expansion

SerPT asks about potential integrations between Decentracard and Xception, focusing on future developments and community involvement.
Amedeo states their intention to add Solana payment integrations due to high demand, which is the next step before accepting other tokens, especially from partners, as a form of payment on their platform.
Amedeo outlines the challenges involved in accepting other tokens, including the need to sell these tokens weekly to pay out revenue shares, which could create sell pressure on the tokens. They are exploring solutions to mitigate this issue.
Amedeo mentions that compliance checks are more extensive for community-made tokens compared to stablecoins like Solana or Ethereum, indicating a cautious approach to adding new tokens.
Amedeo expresses a desire to discuss and find solutions to integrate community tokens as a form of payment without harming the token’s value, suggesting it is an inevitable update expected in the coming months.
SerPT says that if a user wants to spend tokens, there might not be a significant difference between selling the token for Ethereum and then spending it, compared to direct token spending.
Amedeo highlights their commitment to not harm the partners’ token value, indicating the need for a thoughtful approach to integrating community tokens as payment options.
Amedeo talks about marketing and listing on more exchanges and they are exploring additional exchanges but are cautious not to rush into new listings to maintain quality and strategic growth.
Amedeo highlights the importance of strategic listings on exchanges that are better than their current listings, mentioning ongoing communications with several larger exchanges as part of their expansion plan.
Tobo2Bobs asks about the requirements for a project to get listed on a larger exchange.
Amedeo says that getting listed is primarily a financial matter, as passing initial checks like market cap, liquidity, and holder count is easier than covering the substantial cost associated with listing. He highlights that the project has the necessary funds but is cautious about timing and the practicality of the investment.
Tobo2Bobs reflects on whether investing in listing fees is more beneficial than using funds for buybacks, considering the project’s commitment to buyback and burn strategies.
Amedeo explains that the value of buybacks lies in reducing supply and increasing scarcity, which can enhance token value.
He stresses the effectiveness of their strategy, indicating that the decision to allocate funds towards listings or buybacks depends on perspective and strategic planning.

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Show Information

Medium: Twitter (Audio)
Show: DecentraCard Twitter Space
Show Title: Spaces with the @Xception_bots team! $DCARD / $XCEPT
Show Date: April 5, 2024