dappOS is the first intent-centric operating protocol. It is based on account abstraction/chain interoperability and is upgraded to a practical solution to solve the user-unfriendly problems of Web3, lower the usage threshold, and lay the foundation for large-scale applications.
What does "intention-centered" mean? Let's take a real-life scenario as an example.
1) You cross-chain 1000 USDT on the BNB chain to Arbitrum. Is cross-chain your purpose? No! Your intention is to use USDT to buy GMX on Arbitrum.
2) You authorized the USDC and WBTC in your wallet on Uniswap. Is authorization your purpose? No! You want to create a USDC-WBTC LP, and creating a LP is not your purpose. Your intention is to participate in their liquidity mining.
"Intention-centered" is like "begin with the end in mind" in "The Seven Habits of Highly Effective People", and takes the user's ultimate goal as the task goal. What dappOS does is to efficiently achieve the user's ultimate goal and simplify the process. There are two major headaches for users at present.
1) A big problem is that Dapp is very complicated to use. Taking liquidity mining as an example, new users need to interact with the contract 5 times, including authorization of two coins, formation of LP liquidity pair, LP pair authorization, LP deposit, etc. If the funds are distributed on BNB Chain, Arbitrum, and ETH chains, either the funds must be cross-chain first, or operations must be performed on different chains.
2) The second biggest problem is the Web3 wallet. Everything in the wallet is controlled by the mnemonic/private key. Once lost, everything is lost and cannot be recovered. In addition, in the multi-chain era, EVM, Unisat, and Solana have their own mnemonics and wallets. Even if the EVM wallet is the same, the assets on different chains become fragmented, and management and operation are cumbersome.
In the field of chain abstraction/chain interoperability, we have infrastructure such as LayerZero, Wormhole, and Polyhedra. I have talked about this many times in other articles. Due to the promotion of large-scale applications of blockchain and the improvement of modular infrastructure, the emergence of a large number of public chains is an inevitable trend. Therefore, infrastructure such as chain abstraction/chain interoperability is extremely important and in great demand.
However, as mentioned in the previous example, cross-chain is not the user's goal, but something he has to do. What the user wants to do may be to purchase assets from other chains, etc. The advantage of dappOS is that it starts directly from the ultimate goal. The dappOS network is based on abstract accounts and cross-chain protocols, providing a unified wallet for the entire chain, unified asset operations for the entire chain, and a simple operation plan.
The solution of dappOS is very popular with many project parties. It is still in the V2 beta stage and has already cooperated with famous ones such as GMX, Stader, KyberSwap, Perpetual, BENQI, QuickSwap, etc. The effect is immediate. Taking GMX as an example, the user first uses an abstract wallet to manage the assets in a unified manner. If the assets are distributed in Arbitrum with 50USDC and Avalanche with 100USDC, the user does not need to cross the chain. dappOS can use 150USDC for GMX with one click, and there is no need to consider the GAS issues of different chains. With GMX powered by dappOS V2, the user's simplified workflow optimizes execution time by 90% and reduces execution fees by up to 20%. Since the integration of GMX V2 for two months, GMX V2 has added 30,596 new users
dappOS has also been recognized by investors. After receiving exclusive angel round financing from Binance Lab last year, it received seed round investment led by IDG Capital and Sequoia, and received Series A financing led by Polychain a week ago.
Introduction to dappOS Network
DappOS mainly consists of two parts: one is the dappOS account, and the other is the dappOS network.
dappOS Account:
DappOS is a smart contract wallet with "account abstraction", also called smart wallet or AA wallet in many places. Vitalik has also repeatedly advocated for abstract accounts, believing that account abstraction makes crypto wallets as simple as emails. It is one of the infrastructures for large-scale blockchain applications. Compared with the EOA wallets created by private keys/mnemonics that we commonly use now, dappOS has the following advantages:
1) No mnemonic is needed, you can use your social account as the address account
2) Pay gas fees on behalf of others, which can realize one-time payment of gas fees for multiple chains
3) Programmable, upgradeable and customizable.
4) Lost wallets can be recovered and private keys can be replaced. DappOS supports users to set guardian emails to verify reset requests through Domain Keys Identified Mail (DKIM). Users can reset the master key by simply sending an email from a preset email account.
dappOS Network:
DappOS is a decentralized network that uses dappOS accounts to implement "intention" transactions. There are two types of nodes in the DappOS network: super nodes and server nodes. After receiving the user's request, the super node is responsible for assigning tasks to the server node. And it needs to supervise the server node to complete the task and punish it if there is a problem.
The server nodes mainly complete the user's order requests. DappOS allows server nodes to deposit mainstream tokens such as USDT/USDC/BTC/ETH as collateral, which can be used for orders of most cryptocurrencies.
The dappOS network has two basic functions:
1) Asset cross-chain, equivalent to the function of other cross-chain bridges
2) Perform on-chain transactions on dappOS accounts. Perform on-chain transactions from virtual wallets. Users should be allowed to pay gas fees through tokens on different chains, assets in CEX, and even fiat currencies.
In the dappOS network, a dApp interaction is considered an order, which may contain one or more services. The following two examples show one or more services in an order:
Execute trades from your virtual wallet on Optimism and pay fees in USDT on the BNB chain.
Bridge 100 USDT on the BNB chain to the virtual wallet on Optimism and trigger a transaction at the same time to pay the fee with BTC on the BNB chain.
The typical process follows these steps:
Users create orders by signing to confirm the entire workflow, including chain interactions on one or more chains, bridged assets, and fees for using the dappOS network.
DApp sends the order to the dappOS network via JSON-RPC.
The DappOS network will delegate the order to one of the permissionless nodes and guarantee that the order will either be well executed or the node will compensate the user for the loss.
Incentivized by rewards, the selected nodes will execute the entire workflow, including bridging assets and on-chain transactions (from the user’s virtual wallet to the dApp contract).
Project Status
DappOS has recently launched the V2 Beta version, but it has already had many well-known cooperating projects, including GMX, Stader, KyberSwap, Perpetual, BENQI, QuickSwap, Pangolin, etc. However, during the beta testing phase, the amount is limited to 500USDT.
After GMX was integrated with dappOS, the number of steps for new users to purchase GLP or GM was reduced from 9 to 3, and the time was reduced from 15 minutes to 1 minute. Execution fees were reduced by 20%. Users can deploy the total balance of their assets, confirm complex and interdependent transactions across different chains with a single signature, and pay GAS fees in any token. Two months after the integration of GMX V2, GMX V2 has added 30,596 new users, and 15% of the new TVL in the past 30 days came from dappOS users. In addition, the joint event with GMX issued 100,000 ARB tokens to users for interactive airdrop rewards.
Pendle's yield booster Equilibria is integrated with dappOS, allowing users to seamlessly deposit aUSDC and rETH pools from any chain through an intent-centric user experience and increase their yield by up to 28%. Users can deposit ETH directly into the rETH pool without having to mint or purchase rETH on a decentralized exchange.
Investment agency
The investment lineup of dappOS is quite strong.
In June 2023, it received pre-seed round financing from Binance Lab.
In July 2023, it received seed round financing led by IDG Capital and Sequoia China, with a valuation of US$50 million. Other investors include OKX Ventures, HashKey Capital, KuCoin Ventures, etc.
In March 2024, it received 15.3 million USD in Series A funding led by Polychain, with a valuation of 300 million USD. Other investors include Nomad Capital, IDG, Flow Traders, IOBC, NGC, and Amber Group.
Summarize
The advantage of dappOS is that it starts from the user's intention. The dappOS network is based on abstract accounts and cross-chain protocols, providing a unified wallet for the entire chain, unified asset operations for the entire chain, and simple operation plans. Cooperating with the project party has greatly reduced the use process and time of Dapp users, and achieved good results.
