Dechat (DECHAT): Unifying Communication and Transactions in Web3

On the surface, social media and crypto seem to be distinct spheres. One focuses on connecting friends and self-expression, while the other enables decentralized finance (DeFi) and peer-to-peer transactions through blockchain technology.

However, a fascinating fusion of the two called SocialFi is on the rise. This combination brings decentralized capabilities of cryptocurrency into social platforms to rectify the problems of data exploitation and centralized control that plague today’s digital communication giants.

Among the SocialFi solutions, Dechat stands out as the first platform to integrate inscription technology. This technology infuses users' communication data into a decentralized crypto ID, allowing people to chat and transact digital assets within and across applications with their social profiles.

Read on to learn more.

Key Takeaways:

• Dechat is a revolutionary new decentralized SocialFi platform that pioneers inscription technology, which empowers decentralized user interaction while allowing seamless asset exchange.

• Dechat also offers AI-powered chats and end-to-end encryption, providing a secure platform for communication, asset trading and earning opportunities.

• Its native token, DECHAT, is used for both utility and governance, enhancing user engagement and ecosystem growth with its incentive-driven focus. DECHAT can be bought on Bybit as a Spot pair.

What Is Dechat?

Dechat is a multi-chain web3 communication protocol that uses AI modules to power its chats. Additionally, it stands as the pioneering SocialFi product that’s integrated seamlessly with inscription technology. While decentralized communication isn't a new web3 narrative, Dechat has set itself apart by integrating inscription technology, which attaches data such as text and images to an individual token created and stored on-chain.

Other capabilities that Dechat offers include the following:

• Chat, voice call, video call and share files

• Make money with crypto-enabled mechanics on Dechat’s platform

• Create, buy and sell crypto assets across different blockchain networks

• Choose your preferred crypto network and leverage the unique features of each

The Dechat platform is built on the BNB blockchain, and is powered with permissionless crypto-native monetization features that aren’t possible with Web 2.0. Dechat’s flagship inscription has made it the largest SocialFi inscription on the BNB chain, with an impressive base of over 58,000 wallet holders.

How Does Dechat Work?

Dechat introduces a decentralized world, revolutionizing the way social media and the creator economy work. Its platform blends simplicity and ease of use of traditional messaging apps with innovative features of web3 technology.

Interested users get an intuitive, friendly interface for communication, just as they would with typical platforms, such as WhatsApp. They can also discover new content and opportunities, as with any other communication platform. Dechat’s features include the ability to communicate with text, images, videos, voice messages and files. 

In other words, the platform works like WhatsApp, but with blockchain technology capabilities, including NFT-based IDs, wallet-based IDs and the seamless asset exchange of crypto tokens and NFTs. 

DeChat's cutting-edge technology features AI modules deployed in various ways, including chatbots, speech recognition and conversion into text, AI translation and even automated AI trading within its chats.

Dechat Key Features

Dechat offers a line-up of valuable functions, but for the purposes of this article we want to focus on the most important ones for users to know.

Private Chats

In-app chatting is among the most vital features of Dechat. As with any other messaging app, users can send text, images, voice, videos and files to each other within the app. Users can enable push notifications to stay tuned for new messages and interactions. There’s also an option for large-group communication, whereby users interact in group video or voice calls.

Each digital communication is end-to-end encrypted in order to shield conversations from eavesdroppers, hackers and government surveillance. Encryption protects users’ right to privacy by thwarting unauthorized access.

This differs from traditional social platforms, which store users' data on centralized servers, risking users' sensitive data in case of a security compromise or rogue staff. Dechat’s platform even employs end-to-end encryption for communication metadata to ensure private and group chats remain confidential. This is critical in preventing surveillance and tracking.

Decentralized Communication and ID

Beyond the typical messaging, Dechat facilitates community engagement for NFTs through its NFT-based chatrooms, and offers users a decentralized ID. These user IDs are wallet- or NFT-based, which gives users complete control over their identity information. You can manage and share your information as you see fit, without relying on centralized authorities.

This decentralized approach also mitigates the risks associated with storing data centrally. Centralized systems collect sensitive data from users for authentication. Such identity storage models risk users’ data in case of breaches or mishandling.

Digital Asset Commerce

Dechat’s possibilities extend beyond communication. You can engage in digital asset trading by swapping NFTs, conducting group gifting of digital assets or participating in airdrop events.

Whether exchanging collectibles, sharing assets with friends or seizing opportunities for rewards, Dechat offers a comprehensive platform for communication and asset management within the decentralized ecosystem.

Multi-Platform Support

Dechat can be used on different platforms, so users receive the same experience, whether with a smartphone, tablet or desktop. The platform also provides seamless synchronization across devices, allowing users to stay online simultaneously on multiple devices. 

Such flexibility caters to different content creation needs. For instance, using the platform on a mobile phone allows users to conveniently capture photos, videos or short videos on the go, while desktop use makes it ideal for writing longer posts. This flexibility enables seamless transition between devices so users can start their creations on one and finish on another.

Earning Potential

Dechat's incentive policies are designed to reward user engagement for continued use and promotion of the DeChat ecosystem. For instance, its Chat to earn mode enables users to earn in various ways. As an active participant, you can receive DECHAT rewards by completing daily check-ins and achieving a daily activity index of 20 via chatting and sharing in Moments. Promoting the app by inviting friends (or even digital marketing companies and web3 projects) to join the community also earns you DECHAT rewards.

Alternatively, you can stake on the Dechat app for a fixed annual income, or join as a node in its Super Node Mining program and receive an annual portion of 3.75 million DECHAT of node income by completing various tasks.

What Is the DECHAT Token?

The DECHAT token is central to the Dmail network and Dechat ecosystem. Interested users can obtain the DECHAT token in several ways.

Holding DECHAT tokens allows users to:

• Stake and earn rewards

• Transact within the platform

• Earn rewards for social interactions

• Vote on how the platform should be governed

• Create socializing spaces on the platform to facilitate user engagement

• Claim token airdrops of projects that collaborate with Dechat

DECHAT has a total supply of 25 million tokens, allocated as follows:

• Liquidity, MM, Incentives — 10%

• Node rewards — 15%

• Team — 5%

• Public Presale 1 — 7.09%

• Private — 16%

• Community treasure — 1.64%

• KOL round — 1.27%

• Chat to Earn — 40%

• Seed — 4%

The release schedule for the tokens is as shown below:

Is DECHAT a Good Investment?

Dechat provides new ways for users to make money with several crypto-enabled monetization mechanics via its multichain inscription market. 

While Dechat started with a BSC-20 inscription token called DCHAT, users can participate in inscription transactions across various blockchain networks beyond the BNB chain, significantly broadening the range and flexibility of user interactions within the relatively new inscription ecosystem.

The Dechat marketplace will aggregate inscription assets and opportunities from different blockchains into a single, comprehensive platform. This approach aims to offer users access to a wide range of inscription-related assets and opportunities, serving as a convenient one-stop shop for their inscription needs.

Dechat leads the way in SocialFi by integrating blockchain technology with social networking, representing a groundbreaking advancement in the evolution of online communication platforms. The company's continuous innovation and development effort aim to drive the long-term value of the DECHAT token.

As such, we consider DECHAT a good investment. However, this evaluation isn't financial advice, and we strongly recommend you do your own research before buying DECHAT or any other altcoins.

Where to Buy DECHAT

You can buy DECHAT tokens on Bybit's spot trading platform (DECHAT/USDT). To celebrate this listing, Bybit is holding a Token Splash/Deposit to Earn event through Mar 12, 2024, with a prize pool of 70,000 USDT.

Out of this prize pool, 60,000 USDT are reserved for the first 2,000 new users, who can earn 30 USDT by registering on Bybit and accumulating a deposit volume of 100 USDT worth of DECHAT tokens. Alternatively, they can deposit 100 USDT and buy any amount of DECHAT tokens as their first trade on the platform. The remaining 10,000 USDT is for existing users, who can earn 5 USDT for completing the same tasks (although the minimum purchase for existing users is 100 USDT worth of DECHAT).

Closing Thoughts

Dechat is pioneering the shift to decentralized communication by providing a secure and feature-rich social media platform. Its platform aims to decentralize the social media network, just as Ethereum and Bitcoin have done with finance.

Dechat’s multichain inscription market and automated AI application endeavor to usher in a new age in SocialFi with a consumer app that can scale to 1 billion users. Its innovative features, combined with the potential for users to earn rewards in multiple ways, make it a compelling choice in the blockchain and SocialFi sphere.

As Dechat’s platform continues to grow, it’s positioned to shape the future of decentralized user interactions and communication protocols.

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