The day DEXX was stolen, the meme community was in a mess. While we were sorting out the mess, we also saw the extreme division of the market: the anger of meme players and the doubts of traditional cryptocurrency users. Many people in the community were asking: What does DEXX do?
What DEXX does is to become the hottest entrepreneurial track in 2024 when Bitcoin is heading towards $100,000.
When the Layer2, ZK and other blockbuster projects that we expected in the early years were launched one after another in the past two years, the market seemed confused. For so many years, the biggest application of blockchain technology is still cryptocurrency speculation. When the block space is as rich as it can be, we still have no new applications, only cryptocurrency speculation.
The market has long been tired of waiting for technological development and has turned its attention to revenue and PMF. From the super high revenue of Friend.Tech at the beginning of the year, to the fact that no coin base chain sorting revenue was included in the financial report of the listed company Coinbase, to the fact that Pump.fun, an asset issuance platform, completed $100 million in revenue in just over 200 days, the market has discovered that generating revenue is the next main narrative. Therefore, in the context of the explosion of the meme ecosystem, the trading scene has gradually taken a new track.
Until last year, our routine operation for on-chain transactions was to find the most reliable DEX transactions on various chains. The trading UI was always the same, and we had to switch to the on-chain browser to check our costs before buying. The experience was completely incomparable to platforms like Binance, but no one upgraded the product. Everyone was the same, and the experience was equally bad.
However, this year, with the meme boom brought about by pump.fun, traditional DEXs have long been unable to support and adapt to today's extremely fast-changing transactions, so a large number of new DEXs have entered the market. From birdeye in the SILLY and BOME era earlier this year, to pepebot, and then to platforms like GMGN, the trading experience of these new platforms is no less than that of Binance, and even more comfortable than Binance.
The launch of tens of thousands of new assets every day brings the possibility of tens of thousands of wealth effects, and retail investors need speed. Perfect on-chain data visualization + extreme hot spot operation + trading bot, extreme traffic influx, make these new trading tools become the most profitable entrepreneurial track with the largest user growth this year.
We can’t imagine that Uniswap will surpass Binance one day, but with the current development trend of these new trading platforms, it seems that it is only a matter of time before they surpass the centralized platforms. The first-tier trading platforms in the current market perception are still those big exchanges, but these new platforms have all the factors required for trading, and even surpass them. Perhaps the next first-tier trading platform will emerge from this new on-chain track.
To this end, BlockBeats launched a new data product OPRR (Onchain Product Revenue Ranking) to record the development of these new platforms. We hope to find the next real on-chain Binance from the changes in daily revenue, trading volume and other indicators.
