jakiro
Susan, bitchain vision
Social, a track that is consigned to attract one billion Web2 users into the expectation of the Web3 industry.
What kind of social products does Web3 need?Each agreement and product try to answer this question.At present, the track can be broadly divided into two developments.
A branch has developed innovative decentralized and anonymous social products based on underlying protocols, such as social products created based on Lens protocols and Nostr protocols, or embedded economic models to achieve “social money making money””, or it is a completely anonymous and decentralized product.
The other branch is not so decentralized. It is just a social product that meets the needs of encrypted users for social applications. It is just an APP.
All of the above social applications have a problem: there is no way to allow Web2 users to migrate in large quantities.Web3 social products cannot be just a small-scale envelopment.The industry has been developing for almost 15 years, and there are products or applications that can be widely used by people outside the circle.Social interaction is undoubtedly expected, which requires a product with a low threshold for users, a large base, easy to spread fission and extremely high viscosity.
What should be a Web3 product that can truly attract hundreds of millions of Web2 users?UXLINK, created based on Telegram, gives an answer that is different from traditional Web3 social networking – based on acquaintance social relationships, build a comprehensive social network for individuals in the Web3 world, and then extend to meet users’ various aspects in the Web3 world.type of demand.
According to the official website data, since its launch in April 2023, UXLINK has accumulated more than 8 million users, with users reaching 190 countries and regions, and the total amount of three rounds of financing exceeded US$15 million.The investors come from many front-line institutions and well-known angel investors in Europe, America, Asia and the Middle East.
What did UXLINK, which is recognized by both users and capital, do the right thing?
The first social networking for acquaintances, layered applications directly hit the pain points of current social products
Any product with tenacious vitality cannot be separated from the innovation of underlying protocols or technology, and UXLINK is no exception.
The most different thing from other Web3 social products is that UXLINK pioneered the acquaintance social model of Web3.It is also based on this model that a comprehensive social network for individuals in the Web3 world has been established.In this network, people not only build social relationships, but also asset their social data and can easily participate in various social financial activities.To summarize it, UXLINK is based on social interactions with acquaintances and radiates multiple lines to meet the various needs of users in the Web3 world, thus woven into a large network.
In order to weave this network, UXLINK did the following things.First, build application products. UXLINK’s products are divided into three levels. The first layer is the application layer, which mainly includes two types of applications, UX Discover and Social DEX. These two types of applications support users to socially discover in group scenarios., participate in, invest in appropriate Crypto projects and assets.
The second layer is the protocol layer, and two protocols are mainly launched in the protocol layer.The first is the RWS protocol, which is used to solve the problem of acquaintance social graphs and can help developers achieve better recommendations and growth.This also includes the UXAccount service agreement and the UXGraph service agreement.The second is the AWC protocol, which mainly solves the relationship between identity and assets on the chain, can help developers better understand users and help AI models perform behavioral analysis and recommendations.
The third layer is Social Liquidity Layer, the basic network data layer on the social chain planned by UXLINK, which is being planned.This is a user-owned, lower-level infrastructure that allows social relationships and data to be assetized and flowed, which can support users and developers to safely transfer their social assets in different public chains and different Dapps.And all Dapps built on the UXLINK social chain can access this social network natively.This makes digital assets more liquid based on this network and also provides the possibility for the liquidity of social assets.
It is under this all-round innovation that UXLINK has made up for several major shortcomings in most Web3 social products on the market: high entry threshold, closedness, and poor stickiness.
Through some small things, it can also be reflected that UXLINK is run by a very experienced and intelligent entrepreneurial team.UXLINK is equipped on Telegram, which is a very smart behavior. Telegram has 900 million user traffic, which is a smart leverage for UXLINK as a social product that wants to attract one billion users to interact with.Although connected to Telegram, UXLINK did not choose to build a TON chain, but chose Arbitrum chain. First, the Arbitrum chain has low Gas and low user interaction costs; second, this saves costs for UXLINK to enter other platforms in the future. After all, TON is stillA relatively closed public chain.
According to Bitlink Vision, UXLINK founding team has rich entrepreneurial experience in Web2 social products. Relying on WeChat mini-programs, it has made a social product with more than 80 million users and raised more than 100 million US dollars.
Making a data production and optimization machine
A simple and rough understanding of the meaning of UXLINK to users is “Link To Earn”.But if you look deeper, you will find that its essence is actually “Data To Earn”.Users’ social behavior on UXLINK is data, and users can receive rewards when they provide data.The underlying layer of UXLINK is actually a data production machine.
A major improvement in Web3 compared to Web2 is that the user data on Web2 is controlled by large companies, and individuals have become data “black slaves” who work for large companies. The characteristics of Web3 data rights confirmation allow users to personally control their own social networking.If you want to use the data, other items or others, you need to obtain permission from the data owner or pay compensation.
UXLINK undoubtedly puts this principle of the Web3 world to the extreme.Currently, UXLINK cooperates frequently with AI projects. AI is actually a very centralized product that uses a large amount of personal data to train models.
UXLINK has chosen to cooperate with a large number of AI projects to provide them with high-quality data and application scenarios.UXLINK is one of the few Web3 fields that can provide on-chain and off-chain integration, and in units of account.This kind of data can enable AI models to learn, predict and judge better.In the process of providing data, users will also receive UXLINK rewards – airdrops.While ordinary users use UXLINK applications, they help UXLINK construct social data. After these data are used commercially, users will receive corresponding rewards.
Moreover, UXLINK is also optimizing the user’s experience based on user data.In a non-closed-loop social network, the core experience of the user is largely determined by data, that is, what object the user interacts with, what information is obtained, what kind of assets are distributed and recommended, etc.The data returned after the interaction will also further tune the data model.UXLINK has built-in data machines, which can maximize the user’s core experience in existing scenarios.
In order to attract more users to join UXLINK, the airdrop officially launched by UXLINK is also considered “sunshine”. The first season of UXLINK token $UXLINK is in progress, and the airdrop will reach 1 million high-quality users.
UXLINK’s economic model is a dual token model, where $UXUY (on-chain points) are all obtained by community users through Link to earn, and most of the governance token $UXLINK is also allocated to the community, and these are written in the white paper.
Native practical token $UXUY mainly serves as the core incentive for the development of the UXLINK community and ecosystem. It is not pre-mined and is all obtained by community users through Link to earn.Users can earn by inviting others or contributing to the ecosystem, which also means that the earlier you create a social network, the more $UXUY gains you get.The governance token $UXLINK is mainly used for community governance and to obtain profits from UXLINK projects and products, of which 65% are distributed to the community.It is worth noting that there is no lock-in period for the airdrop of governance tokens, while the governance tokens held by partners and teams will have a lock-in period of 3-6 months and follow the 2-year linear quarterly release pattern.This move also reflects UXLINK’s determination to deepen its socialFi track.
In this process, users and UXLINK are undoubtedly win-win, and the positive flow of the economic system is formed.For users, their contributions to social and transactions will be rewarded with tokens.The fundamental reason for how much user benefits lies in how much money UXLINK can make.The interests of users and UXLINK are highly bound.
UXLINK’s business model is very concise and clear.UXLINK official told Bitchain Vision that UXLINK’s profits are mainly divided into two parts.First, B-side charges, merchants need to pay UXLINK to call UXLINK protocol and data.For example, this year UXLINK held an airdrop2049 event and received 50 ecological partners’ support and received 200,000 U of revenue.The second is C-end charges, and users will charge handling fees when trading on the platform.Currently, UXLINK’s monthly revenue has reached US$300,000 (tonken pricing).
Ambition does not stop at social
According to relevant personnel from UXLINK, UXLINK’s entire network EOA account has reached 9 million, which is nearly 10 times that of Friend.Tech and about 30 times that of Farcaster.
In terms of social interaction, UXLINK is undoubtedly the leader in the industry.Social connects people with people, and UXLINK’s ambition is not just about building a social product. UXLINK wants to provide users with all the scenarios they need to play Web3.
After socializing well, more things will come naturally.UXLINK allows users to discover good projects, participate in good projects, invest in good projects, and monetize their social behaviors.
To this end, a series of tools are built on UXLINK to facilitate financial behavior.These tools include: 1. Built-in wallet UX Wallet, allowing users to mint social tokens (SBTs) and create social assets to tokenize their own social graphs.2. Provide AI analyzers and trading robots to help users participate in market and social transactions more effectively.And social transactions are also a simple monetization of personal connections.3. A group toolkit was created specifically for group owners, aiming to maximize social influence, richness of social models and financial returns.4. GroupKits manages group assets, mints group ID NFTs and graphs, and issues and joins transaction group Gpass through tools such as GWallet, GGraph and GPass.
Developers’ products can also be exposed and grown through UXLINK.For example, UXLINK is rooted in Telegram and can perfectly undertake the needs of new assets from issuance to operation. A group can embed many functions, and such a one-stop service increases the flow rate of assets.On the other hand, developers can use UXLINK’s services to perform social fission and product growth, and can also learn about users’ digital identities, digital assets, social relationship networks and asset information on social relationship networks, etc. through UXLINK.This undoubtedly laid the foundation for developers to make better products.
To sum up, UXLINK’s ambition is to become a super platform that integrates industry asset issuance, trading, and Dapps Launch, rather than just a social product.
For users of UXLINK products or investors of their tokens, a certain event is that UXLINK will give everyone a good return.
UXLINK prospects: Looking at UXLINK from NOT
As a social product built on Telegram, UXLINK will naturally be compared with NOTCOIN, which is in the same Telegram ecosystem and the recent fire in crypto communities.
With the support of the Telegram ecosystem and a large number of users, NOTCOIN’s token NOT was logged into Binance and OKX at the same time on May 16.After two weeks of consolidation, NOT prices began to rise in early June, hitting a new high of $0.028.As of press time, NOT price has stabilized around $0.022.The total supply of $NOT tokens is about 102.7 billion, which is in full circulation. Currently, the FDV is about 2.3 billion US dollars, and its market value ranks in the top 60.
UXLINK also has the support of the Telegram ecosystem and a large number of users, so comparing NOT and UXLINK can clearly predict the market prospects of UXLINK.
Comparison of user count: NOTCOIN is considered to be the first project in the Telegram ecosystem to “extravagize the circle”.Since the beginning of this year, NOTCOIN has been rapidly spread with its own meme attributes and brainless Tap-to-Earn gameplay. It has won 5 million users in one week of its launch, and its peak daily active users exceeds 6 million.Since its release in April 2023, UXLINK has become the traffic king of the new generation of social products with its unique Link-to-Earn gameplay.According to the project official website, UXLINK has more than 7 million registered users from 190 countries and regions, and 100,000 groups can reach more than 8 million users.
Mass Adoption methodology comparison:
We found that one of the biggest common features between UXLINK and Notcoin is that most of the tokens are distributed to the community, and the point where $UXLINK is better than $NOT in economic model is that $UXLINK has clear empowerment and deflationExpected, while $NOT does not.
Comparison of the number of holders: Comparing the number of holders of the two, holders are the key indicators for measuring the degree and potential of Mass Adoption, and the considerable number of holders is the basis of consensus.Since UXLINK has not issued coins yet, we use on-chain points and NFT holdings to estimate future $UXLINK token holder.According to Dune data, UXLINK currently has over 4.4 million on-chain points and NFT holders, including more than 1.5 million NFT holders.Only high-quality community users who meet certain points requirements can mint NFT become NFT holders, and NFT holders can get 100% airdrops.Therefore, it can be considered that UXLINK holders are approximately 1.5 million.This number is almost the same as the size after $NOT list.
Number of UXLINK Asset Holder Source: Dune
Through the above comparison, we can conclude that $UXLINK is expected to become another token that swept the industry, just like $NOT.And because $UXLINK itself has the property of empowerment and deflation, it will have stronger vitality than a simple Meme.UXLINK’s ambition will turn real money into users’ wallets.
