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Founder of NAGA, taken public on the Frankfurt Stock Exchange in 2017 (N4G) — peak market capitalisation around €400m in 2021, and over $150m raised across a Fosun investment, the IPO, a $50m token sale, a $30m Yorkville facility and two 2021 rounds. Every line verifiable against public disclosures.
Marketing and DEX support are the human roles. Everything else runs on AI agents — engineering, QA, deployments, payouts, monitoring and customer support, around the clock.
Core traders are 35.8% of active traders and generate 90.3% of fees. Because 98.1% of revenue comes from repeat traders, this is a recurring figure rather than a single acquisition event — the basis of TRUE's lifetime-value economics. Stated gross; the 10–30% affiliate share is booked separately as customer acquisition.
Revenue still concentrates in a habitual core, though less tightly than in August: 146 core traders — 35.8% of fee payers — generated 90.3% of all fees at $2,936 each over 22 days, against 39.6% generating 95.3% in August. Weekly retention fell as the BILLIONAIRE campaign wound down: 50.4% of traders returned the following week, against 71.0% a month earlier, and 44.2% were still trading two weeks later. 98.1% of revenue still comes from repeat traders. Activity-based retention held: the returning share of monthly actives is 33.4% and DAU/MAU among established accounts is 28.0% — 15.6% across all accounts — on 1,605 new signups against 3,725 monthly actives.
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Tech Sal. = dev team salaries · Tech AI = infrastructure, third parties & AI compute · Mkt Cost = marketing spend (contests/campaigns) · Others = investor introducer fees (ended Apr 26) + payment-infrastructure partner · the planned $15.0M round is excluded from every figure. Revenue is reported gross (fees charged); affiliate / referral commission (~10%) is booked in Mkt Cost as customer-acquisition cost — never netted from the top line.