KaiKaiNow / KaiChing

Hi everyone, I’m looking into Kai-Ching (KaiKaiNow’s stablecoin) TXs on Near Blocks and I have a couple of questions:

1.In all three of below’s TXs the value of Ka-Ching claimed is far lower than the TX fee of the claim (sometimes orders of magnitude difference).

9FUQBxZ68W6ZnHN2icadtadJAxEoUAkLdTEEJky66QAs
Hd7iGfHgJkqFhrsoVtssGTSVLSKoMMcgfJaVLoaL14WU
3wax7WbYCQ345t5uWvyUDoperfinVnCAQ51oskSnp8q5

Why are these “Claim TXs” made if they don’t make any economical sense? Are they automated transactions done inside the users app? If so why would the automation not wait to get triggered after the Claim amount is at least worth the loss in fees?

2.The cool thing about KaiKaiNow is that users can sign up and use it for shopping, without ever knowing they are interacting with a blockchain. Looking at some of the KaiChing users on the block explorer it seems like every newly signed up user receives a 0.01 NEAR deposit in order to achieve this “abstraction”. I’m wondering who currently pays for these NEAR subsidies?

3.Conducting a sample analysis, I noticed that many of the addresses don’t show much activity after their initial NEAR deposit.

lfbhye8lj5hi.users.kaiching
hgom27uyjs8s.users.kaiching
hgom27uyjs8s.users.kaiching

Most of them only have 1-2 claim TXs and then nothing really happens after that anymore. If they were real users would we not expect more interactions over time?

4.When visiting the Token Txns tab of the hotwallet.kaiching wallet I see many small Kai-Ching transfers to earn.kaiching

I assume the purpose of these TXs is to top-up the earn.kaiching wallet in order to perform payouts? Again the question why even do some of those TXs if the NEAR gas fee is greater than the token transfer value? And why not choose for larger/batched top ups?

I’m fairly new to the NEAR block explorer so perhaps I’m missing something here. Looking forward to the answers.

PS: Sorry I can’t provide links/screenshots because it’s not yet allowed from my account.

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Would be interested to see anyone giving some feedback here. Kai-Ching is one of the biggest apps on NEAR.

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NF does not use this forum anymore

I have also recently done some analysis about Kai-Ching, here’s my guess:

  1. I think it is automated transaction because Kai-Ching functions as stablecoin inside KaiKai and points for facilitate user’s activity, and Kaikai covers the Tx fee for the user, so whether it makes any economic sense doesn’t matters much for Cosmose AI, as they have lots of NEAR.

  2. Cosemose AI pays for the users. Near chain provide this feature for the projects to cover the Tx cost for the user

  3. This I’m confused as well, looks a little strange.

  4. So does this point, looks strange.

Hope more people answers this question

I can’t say for certain, I haven’t checked the chain, but economically transactions like this would have little to no impact. KaiChing runs its own validator which earns rewards in excess of all total fees