In the ever-evolving and relentless world of crypto, where innovation is the constant heartbeat, a peculiar and potent force has been gaining popularity: Telegram bots.
Over recent months, Telegram bots have carved out a significant niche within the crypto community as they exceeded US$190M in volume in July 2023, according to the Binance Research. Their appeal is straightforward and powerful: users can easily execute crypto activities, from trading and sniping to airdrop farming, all from the palm of their hand.
It’s a convenient and accessible revolution that has been reshaping the crypto landscape. While the ascent of Telegram bots has undeniably enhanced the crypto user experience, it is not without its own set of challenges.
Telegram bots typically employ 2 common revenue streams. Firstly, they often levy a fee on users for executing trades through their bots. Secondly, they impose taxes on transactions involving the bots’ native tokens. The latter approach can be viewed as more contentious, as it places an additional financial burden on users, sometimes upward of 5% per trade.
The reason why most of these protocols implement this tax revenue stream is because of how substantial it is. For instance, consider Unibot, which, as of the time of writing this article, has amassed a lifetime revenue of 8,863 ETH in fees. Interestingly, 80% of this sum (7,066 ETH) can be attributed to Unibot’s tax revenue stream, according to the Dune dashboard by whale_hunter.
Some might argue that the buy and sell taxes can be mitigated by engaging in an Over-the-counter (OTC) trade. In order to participate in an OTC trade, an OTC desk is often mediating these types of transactions. An issue arises when OTC desks do not support the majority of the coins that users would like to trade, especially the ones with lower market capitalizations.
In this situation, another option is to make use of a so-called Escrow service, which comes with its own set of risks, both permissioned and third-party risk. Too often, OTC deals via Escrow service still go wrong these days.
Within the landscape of Telegram bots and their intricate revenue mechanisms, a promising solution takes shape in the form of PintSwap. This innovative protocol sets its sights on addressing the challenges that traditionally come with Telegram bots and OTC desks.
PintSwap is a Decentralized Exchange (DEX) protocol that employs a hybrid OTC/Order book model, with a Telegram bot feature as one of its integral components. It proudly positions itself as a truly permissionless platform, granting users the freedom to engage in OTC trades for any ERC-20 token of their choice.
These transactions can seamlessly harness the power of PintSwap’s Telegram bot, all while the underlying PintSwap protocol operates discreetly in the background, emphasizing its commitment to enhancing the user experience. Moreover, users will find solace in the fact that they need not grapple with buy and sell taxes on their token transactions, only a nominal 1% trading fee.
As the crypto landscape continues to evolve, it is essential to embrace innovative solutions like PintSwap.Telegram bots have come a long way, and with protocols like PintSwap leading the charge, the future of crypto holds the promise of enhanced accessibility, convenience, and user empowerment. It’s worth noting that PintSwap is on the brink of its Token Generation Event (TGE).
The journey is far from over, and as we move forward, let’s keep a watchful eye on the ever-thriving crypto ecosystem for more groundbreaking developments and user-centric solutions.
First Swedish company to join WEMIX PLAY global blockchain gaming platform
New RPG games feature innovative blockchain-based elements VoYd Tokens, VoYd Heart and VoYd Soul
Fully inter-operable: VoYd Tokens and NFTs earned can be used across all current and future games built on MYSTiC GAMES’ Catalyst platform
Leading global game developer Wemade has signed an onboarding agreement with MYSTiC GAMES, the first Swedish game studio to onboard games to WEMIX PLAY, the world’s biggest blockchain gaming platform. With over 9 million cumulative users, WEMIX PLAY offering close to 40 web3 games including the hugely successful MIR4 and its sequel, MIR M: Vanguard and Vagabond, the largest P&E MMORPG in the world; collectible card game Summoners League; and farming simulation game Every Farm.
MYSTiC GAMES will onboard “Call of the VoYd” and “Heroes of the VoYd”, the first two games that will offer full cross compatibility in its growing ecosystem.
“Call of the VoYd” is a free-to-play, mobile-first cross-platform top-down ARPG Roguelite game with auto-aim precision. As players progress through the game, they collect various characters and items, each with its unique set of skills and abilities.
“Heroes of the VoYd” is an easy-to-play idle RPG that combines simple effective core gameplay with strategic decision-making. Players must fight against monsters to unearth new heroes and unique weapons.
They can trade, sell, or use these in-game items inside and outside the game to customize their characters. These items will also be transferable between players, and can be spent in-game as well as staked and sold.
VoYd Tokens, Voyd Heart, Voyd Soul
VoYd tokens and NFTs will be shared across future games with the tokens playing a crucial role in “Heroes of the VoYd”. Serving as an in-game currency, players can utilize tokens for various purposes, but the primary focus is on using tokens to level up their Heroes.
The games feature innovative blockchain elements like the prestigious VoYd Heart and VoYd Soul which offer a range of benefits including the ability to safeguard gameplay progress by saving levels, and unlock additional game content like heroes and chests. VoYd Souls will also include an increased role in the MYSTiC DAO that will manage the entire gaming ecosystem.
“We believe in a future where your time and skill in gaming can be just as valuable as your time spent working and with other hobbies,” said Matthew Buxton, CEO of MYSTiC GAMES. “We look forward to a bright future together.”
About WEMADE
A renowned industry leader in game development with over 20 years of experience, Korea-based WEMADE is leading a once-in-a-generation shift as the gaming industry pivots to blockchain technology. Its WEMIX PLAY global blockchain gaming platform (www.wemixplay.com) offers everything from card, puzzle, simulation and strategy games; to first-person shooters, battle royale, SNG, MOBA and MMORPG games. Besides standard GameFi services like exchange, staking, swap, pool and bridge, WEMIX PLAY also offers a marketplace to trade NFTs and a Drops feature for developers to launch new collections.
About MYSTiC GAMES
MYSTiC GAMES is a crew of industry veterans on a mission to create the next wave of heart stopping multiplayer mobile games. We’re player first, player friendly and soon to be player owned. For more information, please visit: https://mysticgames.dev/
Saitama, an esteemed pioneer in the Web 3.0 domain, has made an exciting announcement regarding its latest creation, SaitaChain. This revolutionary Layer 0 blockchain has the potential to reshape the decentralized finance (DeFi) landscape by offering exceptional transaction speeds and competitive fee structures. SaitaChain stands as a testament to Saitama’s commitment to pushing the boundaries of blockchain technology and fostering innovation.
SaitaChain is not simply an incremental improvement on existing technology; it represents a fundamental shift in blockchain architecture. By leveraging advanced sharding techniques, this Layer 0 blockchain addresses the pressing challenges faced by Layer 1 counterparts, such as congestion and exorbitant gas fees. The launch of the alpha testnet this month signifies a strategic leap forward, providing developers and users alike with a more efficient, secure, and user-friendly environment.
The SaitaChain Roadmap – A detailed glimpse into the future.
At the heart of the SaitaChain ecosystem lies the Saitama Token, a versatile cryptocurrency that plays a pivotal role in facilitating transactions and fueling gas fees. The integration of the Saitama Token within SaitaChain emphasizes Saitama‘s vision of a decentralized financial system that prioritizes efficiency and affordability.
In conjunction with the introduction of SaitaChain, Saitama has also revealed the operational launch of XBridge, an innovative blockchain bridge connecting the Ethereum (ERC) blockchain with the Binance Smart Chain (BSC). Released on October 23, 2023, XBridge is an impressive technological feat that unlocks unparalleled interoperability and flexibility in the realm of DeFi. Users can now seamlessly transfer assets between these blockchains, gaining enhanced market access and increased liquidity options.
Saitama‘s commitment to making DeFi accessible to everyone is evident in their suite of products. The Saitama Token, the SaitaPro app, and the SaitaCard are all part of a cohesive strategy to demystify and mainstream DeFi. The SaitaCard, in particular, stands out with its global ATM access, diverse payment options, and seamless integration with the SaitaPro app, all without the burden of monthly fees.
SaitaPro, a non-custodial wallet that supports multiple blockchains, offers a secure and intuitive platform for asset management. Its collaboration with ePayme enhances the user experience by simplifying the purchase of cryptocurrencies.
Saitama’s expansion into logistics with SaitaLogistics, in partnership with ePayme, exemplifies their innovative use of blockchain technology in practical, real-world applications. This peer-to-peer logistics system facilitates secure cryptocurrency transactions, streamlining the shipping process on a global scale.
SaitaChain serves as the cornerstone of Saitama’s expanding ecosystem, which includes SaitaSwap, an innovative multi-chain decentralized swap platform designed to cater to cryptocurrency investors with secure token trading capabilities.
In reality, SaitaChain is much more than just a blockchain; it serves as a strong foundation for constructing a more integrated, inclusive, and efficient blockchain ecosystem. Saitama‘s pioneering work in Layer 0 technology is helping to chart a path for the future of DeFi, setting the standard for future evolutions of the blockchain landscape.
As Saitama continues its leadership role in advancing blockchain technology, SaitaChain will play a crucial role in supporting a more secure, streamlined, and accessible financial system. Saitama’s vision of a decentralized financial future depends on their innovation and execution, and their continued dedication to progress will help create a more decentralized, efficient, and equitable financial world.
Wemade CEO Henry Chang (left) meets with Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers (right)
Wemade is the first and biggest Korean game developer to establish official talks for joint collaborations with Dubai Chambers
Talks mark next phase of Wemade’s efforts to support the growth of blockchain gaming ecosystems in Dubai and the UAE
Henry Chang, the CEO of leading South Korea-based gaming giant Wemade met with H.E. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, to discuss a broader scope for future collaboration. Wemade is the first and biggest Korean game developer to establish talks with Dubai Chambers for broad plans to contribute to game development industry initiatives. The meeting between CEO Chang and Dubai Chambers’ President and CEO H.E. Lootah marks the next phase of Wemade’s efforts to support and grow blockchain gaming ecosystems in Dubai and the UAE.
As an advocate for the interests of Dubai’s business community, Dubai Chambers serves as a bridge connecting the local business community with Dubai’s dynamic government and is committed to ensuring a thriving environment in which businesses can flourish. The chamber seeks to facilitate and improve the ease of doing business in the emirate and advance Dubai’s position as a highly competitive global commercial centre.
“The UAE is among the most dynamic regions building the next generation of games and gaming industry talent with Dubai and key stakeholders including Dubai Chambers playing an important role,” said Henry Chang, CEO, Wemade. “Wemade will focus on working with Dubai Chambers to explore how we can contribute our expertise and technology to support key initiatives including the Dubai Program for Gaming 2033.”
H.E. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, commented: “We are pleased to initiate this collaboration with Wemade, which will contribute to driving innovation in the UAE’s rapidly evolving digital ecosystem. Dubai’s growing influence in the global gaming and blockchain arenas reflects our dedication to fostering an ecosystem that is rich in technological expertise. We remain committed to further strengthening the emirate’s position as a leading global hub at the heart of the digital economy.”
Unveiled recently by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of The Executive Council of Dubai and Chairman of the Board of Trustees of Dubai Future Foundation (DFF), the Dubai Program for Gaming 2033 set out major industry goals. These are: to position Dubai among the top 10 cities in the global gaming industry; generate 30,000 new jobs in the gaming sector; significantly boost the sector’s contribution to the growth of Dubai’s digital economy; and increase the GDP by approximately US$1 billion by 2033.
About WEMADE
A renowned industry leader and innovator in game development, Wemade is now leading a once-in-a-generation shift as the global games industry pivots to blockchain technology. Through subsidiary WEMIX, Wemade is building an experience-based, platform-driven, and service-oriented mega-ecosystem to offer a wide spectrum of intuitive, convenient, and easy-to-use Web3 services. This includes WEMIX PLAY, the world’s biggest blockchain gaming platform which can transform games of every genre into blockchain games. www.wemix.com/communication.
About Dubai Chambers
Dubai Chambers is a non-profit public entity that supports Dubai’s vision as a global player by empowering businesses, providing innovative value-added services and access to influential networks. In March 2021, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, announced the restructuring of Dubai Chamber and the formation of three chambers for the emirate, namely, Dubai Chamber of Commerce, Dubai International Chamber, and Dubai Chamber of Digital Economy, which now operate under Dubai Chambers. For more information, please visit: www.dubaichambers.com