Written by: Haotian
In line with the principle of saying a lot with few words, I will quickly comment on the significance of @ParticleNtwrk launching the new 'chain abstraction' application trading platform UniversalX:
1) 'Chain abstraction' serves as a mainstream continuous narrative after modularization, aiming to transition from the current infrastructure split to a paradigm of enhanced user application experience. However, many people cannot intuitively grasp the significance of this change and even label chain abstraction with various 'misinterpretations'.
The UniversalX trading platform was born from this background. Since the B-end concept does not provide an intuitive understanding for everyone, it makes sense to launch a C-end application product to drive 'intuitively'.
Essentially, it has completed a narrative upgrade from 'protocol' to 'end', speaking well through good products.
2) UniversalX is a Chain-agnostic trading platform supported by universal accounts, advocating various upgrades in user experience levels such as 'one account, one balance, any chain, no bridging, any Gas, fiat access'.
What seems simple is actually the result of 'abstracting' the complex chain, funds, and interaction environment. For example, 'one account, one balance' means unifying access to various isomorphic and heteromorphic chains and managing centralized balance scheduling. Users may not perceive the complexity, but the underlying protocol scheduling control layer has to tackle numerous cross-chain interaction communication challenges.
Therefore, UniversalX is not a product that can be perfected in one go; it will continue to optimize various small details in subsequent iterations. It is difficult to achieve perfection at the outset, especially since the crypto field always presents new complexities that need to be 'abstracted' for handling.
3) The strategic significance of UniversalX is grand; it will directly impact the two mainstream industry forms of 'decentralized wallets' and 'centralized CEX'.
Taking custodial wallets as an example, most wallets have 'functional' differences, but essentially, they are just a control panel for users to manage their assets, failing to truly elevate to the level of user 'entrance'. The reason is that the functional differentiation of wallets itself can lead to a tearing of the smoothness of user experience, which is difficult to change in the past development environment that 'emphasized infrastructure over applications'.
The approach of UniversalX, which aggregates various basic functions and unifies user experience right from the start, will truly trend toward having a 'gateway', posing a threat to the moat of decentralized wallets.
The impact on centralized CEX is easier to understand. Products like UniversalX, which are close to CEX functionalities but completely based on on-chain environments, will catch the wave of on-chain DEX gradually surpassing CEX during a major profit period. The final outcome is uncertain, but even lowering the participation threshold in the on-chain environment to compete with CEX is sufficient.
It is not hard to see that this is a new species that embarks on a journey under a new 'chain abstraction' narrative, aimed at upgrading user experience, based on application 'ends'.