Dial In: Nathan From Euphoria on Tap Trading and Hyper-Speculation

Euphoria founder Nathan Worsley tells how he turned a MEV honeypot into a $250k lesson and unveils Tap Trading: a consumer-first mobile derivatives product launching with a 5,000-player Tapathon.

Key Takeaways

Built 'Salmonella' honeypot to reverse sandwich MEV, drained bots market-wide, earned ~$250k, faced legal scrutiny, and sparked an ongoing cat‑and‑mouse arms race.
Designed Tap Trading as a consumer-first mobile derivatives UX: simple grid, live price, and rapid interactions to maximize entertainment and retention.
Launching a Tapathon today: 5,000 traders, two-week P&L contest, daily replenishments, and prizes (London trip, Rolex); event doubles as infrastructure stress test.
Key success metrics: prioritize exponential daily user growth and retention; operationally measure RTP per $100 and session length per dollar to control churn.
Market making strategy: start as maker, iterate with competing market makers to drive RTP >95% and longer sessions; model losses to limit rapid player wipeouts.
Built on MegaETH (sub-ms latency, 100k TPS) to enable fast oracles and market making; platform will welcome trading agents/AI with cautious support.

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