Written by Zen, PANews
On May 3, UXLINK will launch its first airdrop event with the theme "In UXLINK We Trust". The airdrop will be divided into 4 different levels based on the performance of Odyssey and contribution to the UXLINK community, and 4 sets of themed NFTs will be issued, including LINK, TRUST, FRENS, and MOON. Based on the user scale of UXLINK exceeding 5 million, if the first airdrop covers 10% of users, more than 500,000 people will receive UXLINK's governance token $UXLINK, which may become the largest airdrop so far this year.
The social monster is here: 7 million users in one year
UXLINK is the first trust-centered social hub in Web3. It was launched in April last year and reached the milestone of one million users more than half a year after its launch. Based on the explosive growth potential of the acquaintance relationship recommendation mechanism and the bull market of cryptocurrencies led by Bitcoin, UXLINK has shown a flywheel effect since the end of last year, and a "social monster" with high growth potential has appeared.
In late April, the Web3 large-scale airdrop event AIRDROP2049, hosted by UXLINK and co-organized by OKX Ventures, Web3port and Trusta Labs, received widespread attention and participation. As an ecological project of UXLINK, AIRDROP2049 attracted more than 200,000 global visits in just three days after its launch. It has currently attracted more than 400,000 users to participate, and the#AIRDROP2049tag has been viewed more than 1 million times on the X platform.
Earlier, from February 1 to February 22 this year, UXLINK attracted 978,000 new Web3 wallet registrations in just three weeks, and deposited a total of $78 million in assets. In a two-week joint campaign with the OKX Web3 wallet, more than 230,000 OKX Web3 wallet addresses were created and linked to UXLINK, showing the unique "super traffic" effect of acquaintance social applications.
As of April 30, according to data from UXLINK's official website, UXLINK has covered more than 95,000 groups, with 5.38 million verified users and 7.73 million users in groups. It has become the world's largest social platform based on Web3 groups.
In addition to continuously attracting new users, UXLINK's outstanding business growth has also attracted a number of well-known VCs to extend olive branches.
In March this year, UXLINK completed a new round of financing, raising more than 9 million US dollars in total. This round of financing was led by OKX Ventures, and the participating investors included UOB Venture, an investment company under UOB Bank, Cypher Capital, a UAE crypto investment venture capital company that has invested tens of millions of dollars in the TON ecosystem, as well as Web3Port, Comma3 Ventures, Kucoin Ventures, Gate Labs, Forgame, ECV, Manifold, Signum Capital and 7UPDAO and other well-known institutions. In addition, according to the registration information of Singapore companies, HongShan, Matrixport Ventures and ZhenFund are also listed as investment institutions. According to the community, UXLINK may complete another round of financing before the official TGE.
UXLINK's Law of Attraction: Relationship Expansion Starting from Acquaintance Social Networking
In the 1960s, American psychologist Stanley Milgram proposed the social theory of "six degrees of separation", which advocates that the social relationship between any two people in the world can be connected through no more than six intermediaries. In a person's social circle, acquaintances such as friends, family, and colleagues are often the most direct connections in their social network. Through these acquaintances, each individual can indirectly connect to other people in a wider social network. This means that after integrating the connections and paths based on acquaintance social interaction, the superposition of multiple relationship networks will stimulate exponential growth capabilities. WeChat and Facebook are well aware of this and have firmly established themselves as the leaders, becoming national-level social applications with a large user base and extremely high stickiness.
Most of the Web3 social applications currently on the market are operating in a similar way to social media and forums such as X, Weibo, Reddit, and Quora. This kind of community, which is driven by content creation, production, and consumption, is only a weak relationship formed based on content or interest areas. Whenever they want to move towards a strong relationship and get to know each other better, they often still end up with something like "adding WeChat". The content of Web3 social media platforms, whether in terms of breadth or depth, is difficult to compete with traditional platforms. The gap between the slogan of "social paradigm innovation" and the actual user experience makes it difficult for such Web3 social platforms to acquire and retain customers.
Unlike other Web3 social networks that are mainly based on one-way attention relationships, UXLINK, which focuses on two-way, acquaintance social relationships, draws inspiration from applications such as WeChat and Facebook, and innovatively combines real-life social connections with blockchain technology. The UXLINK social structure is based on a multi-point interpersonal communication model, integrating "strong relationship networks" represented by acquaintance relationships. UX Growth within its ecosystem allows users to use social connections to build and profit. Under the Link to Earn mechanism, by inviting new users, creating wallets, and ultimately joining or creating groups, users can not only expand their personal social graph, but also receive points rewards.
Strong ties are the bonds within a group, weak ties are the bonds between groups, and people's relationship networks are an expansion process from strong ties to weak ties. The communities and communities established by UXLINK based on the acquaintance relationship network can not only cultivate the cohesion within the group, but also give full play to the bridge role of weak ties in information dissemination. Dynamic and multi-dimensional interactions and connections also help to expand and reshape individual social relationships.
Anti-fraud, strong consensus and group assets in strong relationship networks
Acquaintance relationships are characterized by familiarity, intimacy, trustworthiness, and mutual obligations. Based on this, UXLINK's acquaintance social model naturally has stronger emotional closeness and a more solid foundation of trust. Users have a full understanding of others' qualities, values, and behavior patterns, and can more accurately judge the other party's sincerity.
This kind of trust is relatively scarce and valuable in the crypto industry, which is often criticized by the outside world for being full of fraud and rug pulls. It is also a good way to avoid the risk of being deceived. In addition, based on the mutual trust of the "strong relationship network", the community will be more inclined to reach consensus on decisions, goals and actions, and form a virtuous circle of "trust promotes consensus, and consensus strengthens trust".
As we all know, the value of crypto assets is more dependent on the accumulation of consensus than valuation. For example, the passage of the Bitcoin ETF has strengthened the consensus on its "asset allocation" and has become an important driving factor for price increases.
Based on the consensus and trust advantages of the group, UXLINK gives the group the ability to create encrypted assets based on the platform. Community members who have reached consensus due to common ideas will be able to create assets based on common beliefs together, and spontaneously maintain, spread and expand consensus, and ultimately realize group value capture through common holdings.
This means that users can not only receive rewards from the platform by inviting new users and completing tasks through Link To Earn, but also enjoy the initiative to create assets. The decentralized exchange UXLINK Swap on the platform facilitates the storage, access, trading and management of assets, making the process simpler and more immediate.
Create an integrated ecosystem integrating applications and basic layers
As a decentralized, integrated social network that links real-world identities, in addition to providing social application services around Web3 users in Telegram groups, UXLINK also focuses on building data infrastructure based on real-world social identities for early users and developers. By integrating off-chain social identity information, on-chain asset data, and decentralized storage protocol data, UXLINK builds an intricate social relationship network for users; by providing protocol and data services, it also provides support to developers focusing on AI, games, and other application services, enabling developers to verify users' digital identities (UXLINK account authentication) and access indexed social graph data and on-chain asset information through API/SDK services.
UXLINK pioneered the RWS (Real World Social) system architecture to build the foundation for exponential growth. The system's comprehensive architecture consists of three key layers:
Infrastructure layer: To support large-scale adoption scenarios, technical issues of low cost, high TPS and high availability must be solved. UXLINK adopts a hybrid scalable architecture (EVM+IPFS+cloud), storing identity and relationship data on the chain, and processing complex business scenario data off-chain to facilitate applications that utilize this base layer. It runs on EVM-compatible chains such as Ethereum Mainnet, Arbitrum, BNB Chain, Polygon and Base, and provides decentralized storage and centralized data indexing services.
Protocol Service Layer: Provides efficient tools for Web3 developers to manage user social identity and relationship data services through APIs tailored for on-chain and off-chain systems.
Basic application layer: Provides basic product services such as growth fission and group functions for ecological applications. This layer uses MPC-TSS (multi-party computing, threshold signature scheme) wallet account services and group-based EOA account services.
In addition, UXLINK's other core AWC protocol can handle on-chain identity and asset relationships, help developers better understand users, and assist AI models in behavioral analysis and recommendations. Unlike other social infrastructure projects that emphasize one-way relationships, UXLINK emphasizes two-way social connections based on acquaintances, similar to the distinction between the social structures of Weibo and WeChat, to build a true acquaintance social network.
Dual Token Model: Utility Token UXUY and Governance Token UXLINK
To maximize transparency and fairness, UXLINK adopts a dual-token model to establish a governance and development framework for its community and ecosystem: including the protocol’s native utility token $UXUY and the governance token $UXLINK.
UXUY is a reward system for the development of the UXLINK community and ecosystem, and a key part of Link To Earn, which is completely based on a transparent proof-of-link (POL) mechanism with no pre-minting. Users can earn UXUY by inviting others or contributing to the ecosystem, and store it in an Ethereum-compatible wallet. The token uses a decreasing logic similar to BTC, and the calculation formula is also closely integrated with BTC's mining logic. The key variables that affect the reduction of tokens include time, the number of connections to a single node, and the total number of users of the entire UXLINK network. Over time and as the UXLINK network expands, the UXUY earned by users will decrease exponentially. Therefore, users who enter the UXLINK network later will receive less UXUY, which emphasizes the scarcity and value of early participation.
$UXLINK plays a vital role in the UXLINK ecosystem, as a governance token, it empowers the community to make decisions and captures the value of projects and products. The token will be issued soon, and its total supply is limited, not exceeding 1,000,000,000. $UXLINK token. UXLINK has established a robust token supply and distribution strategy, with 65% of its tokens allocated to the community, 21.25% to investors, 8.75% to the team, and 5% to the treasury. It is worth noting that of the 65% community share, users account for about 40%, while all other types of builders and partners account for about 25%.
The token issuance schedule varies by entity. After $UXLINK is listed, the community will airdrop monthly tokens to active users, builders, and partners. It is worth noting that once airdropped, there is no lock-up period and tokens can be obtained immediately. UXLINK's community distribution strategy is closely tied to the Proof of Work (POW) and Proof of Link (POL) contributions of users and builders. Partner and team tokens are locked for 3 months, followed by a linear quarterly release for 2 years, with a gradual release of 12.5% per quarter for 8 consecutive quarters to promote long-term participation.
What is UXLINK worth? Is it the answer to “Mass Adoption”?
When UXLINK was founded last year, its vision for 2024 was to successfully list its tokens and gain 2 to 3 million users. However, UXLINK has already exceeded its initial goal and is on the right path to becoming an important infrastructure for the WEB3 ecosystem before even a third of the year has passed.
Compared with other leading competitors in the social field, such as CyberConnect and Farcaster, UXLINK has shown a strong momentum of "coming later but arriving first". CyberConnect, also a social infrastructure, currently has 2 million users and an official TG group of about 50,000 people; UXLINK currently has about 5.5 million users and an official TG group of about 240,000 people. Both have the same number of fans on the X platform, which is 560,000. In addition, as of April 30, according to Dappraddar data, the number of UAWs on the CyberConnect chain was less than 3,000, while that of UXLINK was 52,000.
In terms of market value, CyberConnect's FDV is basically around $1 billion. Farcaster, which has also experienced high growth this year and has exceeded 330,000 users, is reported by Bloomberg to have completed a round of financing led by Paradigm, with a valuation of approximately $1 billion. Considering UXLINK's current performance and high growth trend, its total market value is likely to be around this value.
Recently, UXLINK has cooperated with multiple AI and GameFi projects, including Bubble AI, 1Gen Labs, Pond, MetaCene, BacGames, Space Nation, EarlyBird3 and more than a dozen other projects. UXLINK has also launched the "UXLINK Social Ecosystem Alliance", which will empower the growth and development of ecosystem projects with unique data value.
The high trust and strong consensus brought by the strong relationship network based on acquaintance social interaction, which will create asset empowerment strategies for the community, is undoubtedly the next key point for rapid growth. Throughout the development of the Internet, there is almost no middle value for social applications. There are only two extremes: becoming a hit or going bankrupt. Perhaps the flywheel of UXLINK has just begun to turn. Will it become a "pioneer" in large-scale applications? It is worth waiting and seeing.
