#202 - It's memecoin season (and bots are harvesting)

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We’re the terminator of web3 news roundups.

Today,

1. $PEPE & the memecoin trading bot

2. ChatGPT + Skyrim shows the exciting future of videogames

3. Meet the new Moonbirds community council

Plus, all the web3 headlines, memes, and Tweets of the day.

D-Daily takeaway 🥡
A few under-floor artwork sales bring the index down two points today.

What's this? 🤔
Our floor price index tracks the biggest, most influential pfp projects, art collections, and gaming assets.

S*** coin season is in full swing - and one trading bot is taking huge profits

Have you bought into any of this month’s trending alt cryptocurrencies, dear reader?

We’d be lying if we said that at least some of the Decentra Daily team hasn’t filled their bags…

Maybe the whole thing’s flown over your head? No fear, here’s the TL;DR on the month’s most popular tokens.

First, there are the coins

While ETH NFTs are down, these meme tokens are seeing incredible volume (for a so-called bear market.)

$PEPE

PEPE kicked off the memecoin run around the middle of this month after one trader bought trillions of tokens.

“The most memeable memecoin in existence” was up 250% within days of launch.

$IYKYK and $WOJACK

$IYKYK, or “If you know, you know” began pumping as those who’d missed the initial PEPE surge looked for another token to buy into.

The coin launched with strong trading but looks to have already dropped off.

Same deal with $WOJACK – which launched on April 18th and is faring better – seeing over $8M volume and a 15% increase in the past 24 hours.

$FLOKI

Unlike the coins above, Floku Inu has existed since 2021, made as a spin-off currency from SHIB.

It was doing minimal volume until this week, when Binance began accepting FLOKI deposits.

Since then, FLOKI has joined the ranks of the week’s best-performing coins.

Then, there’s the trading volume

Things really started to heat up around the middle of the month, when decentralized crypto exchanges began seeing transaction volumes that looked more like 21’s bull run than this year’s bear.

This week, the most popular DEX, Uniswap, reached the milestone of $1.5 trillion in lifetime volume.

There’s a lot of momentum in these gambling tokens right now. Even Bitcoin alt currencies, made using the new BRC-20 standard, are up bigly.

Of course, it wouldn’t be memecoin season without scams

Web3’s most famous blockchain sleuth, @Zachxbt, is already on the case.

They uncovered a whole portfolio of s*** coins made to profit from the inflow of new traders:

Seriously, when you’re dealing with memecoins, there’s no such thing as too much due diligence.

(And even then, you could still be buying a scam.) 😂

And finally: the bots

An MEV bot stands for “Maximal Extractable Value.”

These lil’ trading machines were originally the weapon of choice for blockchain miners, who used them to arbitrage transactions as they were added to new blocks.

Now, professional traders use MEV bots to front-run crypto transactions and skim small amounts of profit, repeating the move thousands of times to accumulate huge gains.

One MEV bot has been making an absolute killing during the latest memecoin frenzy.

It’s attached to an address named Jaredfromsubway.eth.

Jared has been paying a lot of gas to cover all its transactions, which does eat into profits.

And by “a lot,” I mean over $10 million dollars in the past month alone… 😳

But even accounting for transaction costs, Jaredfromsubway.eth is making millions by “sandwiching” unsuspecting day traders – and shows no signs of stopping.

Notable Tweets ✅

On the web3 wire

Meet Moonbirds’ new “council” 👫
The 10-person council of community members is intended to sit between holders and the Proof team, improving lines of communication.

Avalanche NFTs are kicking off 📈
NFT transaction volume on the Avalance blockchain is up 6x this month, from 400K in March to 2.4M in April.

Meta says it’s catching up on AI developments 🤖
Chat, image, and video agents will extend into the company's metaverse projects. Meta says new projects will be released in the coming months.

Does this Skyrim + ChatGPT mod show the future of open-world gaming?

There’s a new Legend of Zelda game coming out soon.

The video game franchise is famous for the sense of freedom and exploration it gives players, allowing them to find creative solutions to puzzles and missions.

Through clever game design, open-world titles like Zelda make players feel like they’re interacting with a living, breathing world.

– But what if those game worlds were actually (artificially) intelligent?

That’s what Youtuber Art from The Machine is working on, by combining the popular open-world game Skyrim with ChatGPT

In this modded version of the award-winning fantasy title, players can have rich, off-script conversations with NPCs and side characters.

Because each character is loaded with an AI chatbot and a built-in “memory,” they can have unique personalities and backstories – and will remember interactions from previous game sessions.

So what does this mean for future video games?

The Skyrim-GPT mod is obviously more of a prototype than a polished game (I give you 5 mins of NPCs saying “Let me think… … ” before you smash your monitor).

But the potential is undeniable – how about this:

• instead of NPC scripts, spontaneous conversations

• instead of “missions” the game world reacts to player actions

• instead of structured narratives, players build their own stories

I can imagine today’s RPGs evolving into “adventure experiences,” where players forge unique journeys through game worlds, created by their interactions with an intelligent cast of characters.

Hell yeah! 🎮☺️

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