Euphoria - Tap Trading: What You Need to Know
Mobile-first Trading, Gamified Derivatives, & More
Markets have been perhaps as unpredictable as possible, with spontaneous announcements being put out and mixed reactions unfolding as a result. Before this recent market downturn, two of the biggest trends in crypto among retail were memecoins and mobile-first trading. Apps like Moonshot onboarded hundreds of thousands of new entrants to the space, while Vector introduced a new approach to social trading.
Right now, in the absence of favorable market conditions, attention has shifted far away from retail trends and more toward the institutional side. But should Trump tone concede on China tariffs or the Fed step in and provide a macro catalyst, this current market structure could change quickly…
In today’s edition, we’ll discuss Euphoria, an app looking to gamify trading, using dopamine and a mobile-first focus as the way to bring derivatives trading to as many people as possible. While markets are far from euphoric right now, a time where there is more retail appetite for novel trading mechanisms might come sooner than expected…
Stay informed in the markets ⬇
Mobile First Trading
Crypto has quietly improved its UI/UX significantly over the past couple of years, with viable mobile apps for top applications now a reality. Jupiter acquired Moonshot shortly after the $TRUMP token launch, which saw 200K new users onboarded via the app in a single day. Since then, the Jupiter team has put more emphasis on Jupiter Mobile, seeing 100K+ downloads across IOS and Android devices.
We’ve also seen established teams pivot their efforts entirely toward the mobile-first space. The Tensor team, which originally demonstrated its success by overtaking MagicEden to become the dominant NFT marketplace on Solana, moved its focus to developing Vector. Vector serves as a new take on memecoin speculation with an emphasis on social trading—all with a seamless mobile-first and frictionless UX.
Outside of the realm of trading, SocialFi apps like Rodeo have also drawn more interest from investors. All of this points to not only the growing importance of mobile-first experiences in crypto but recognition of this importance from industry-leading teams.
Background on Euphoria
Euphoria introduces “Tap Trading,” a gamified approach where users predict price movements with a single tap. The vision for Euphoria was in part inspired by tap-to-earn games like Hamster Kombat and other popular games within the TON ecosystem.
The premise of these games is simple: users, often based outside of the U.S. and the Western cultural sphere, would play these tap-to-earn games as long as there were tokens to earn. Other Telegram mini-apps soon sprang up mimicking this concept, but lacking in that core demand often dried up, dependent on market cycles.
Euphoria builds on the bridge between trading for profit and trading for fun, as seen with apps like Moonshot and games like Hamster Kombat. Euphoria essentially replaces the act of mindless tapping for newly minted tokens or an airdrop with trading, which is more sustainable but also more unequal in outcome.
Like Vector, Euphoria focuses on mobile-first trading, also tapping into the short attention spans and scroll-centric nature of TikTok. Euphoria is heavily gamified, using points and a leaderboard system to its advantage in order to captivate users and use relative performance as a tool for maintaining attention. The social aspect is also incorporated heavily into Euphoria’s design, an important consideration as the original vision for Euphoria was less about social trading and more about trading as a means of gamification.
Euphoria is built on MegaETH, part of the Mega Mafia cohort of builders, mostly citing MegaETH’s real-time, performant nature as the reason for choosing the chain. On Wednesday, we covered cap, a stablecoin project with on and offchain financial guarantees, also built on MegaETH.
Like the other Mega Mafia projects, Euphoria is young and unproven, and even its whitepaper has not yet been released. Those interested can sign up for the protocol’s waitlist. A unique project like Euphoria needs to be put into the hands of users before more judgments can be passed, as “Tap Trading” is a new concept not popularized by any existing games or protocols.
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