dappOS is a project focused on simplifying blockchain operations and enhancing user experience through an "intent-centric" design. With this approach, users simply express their goals, and the system automatically handles complex operations such as cross-chain transfers and asset exchanges. dappOS builds an efficient execution network for developers and service providers, optimizing transaction processes by combining both on-chain and off-chain strategies. Its OMS (Optimistic Minimum Staking) mechanism ensures efficient, secure task execution while minimizing costs. The project has partnered with several renowned blockchain platforms and has raised multiple funding rounds from institutions like Binance Labs and Polychain, with a current valuation of $300 million.
What is “Intent-Centric”?
In simple terms, “intent-centric” is a design philosophy aimed at improving user experience by allowing users to express what they want, while the system or a third party handles the execution. In Web2, intent-centric product design has been extensively applied in scenarios like ride-hailing, food delivery, and online shopping, where users express their needs, and the system automatically completes complex processes. With the development of decentralized technologies, Web3 offers users more control over their assets but also increases operational complexity. Thus, simplifying the user experience has become a key challenge for Web3 products.
Recognizing this trend, the well-known crypto fund Paradigm highlighted “intent-centric protocols and infrastructure” as the top trend in its report on ten potential developments in the crypto space. Additionally, projects like Anoma gained attention at the ETHCC conference, further promoting the intent-centric concept.
For example, if a user wants to purchase an NFT on the Polygon network using ETH but only has USDT on another chain, traditionally, the user would need to exchange tokens and perform cross-chain transfers. In the intent-centric model, the user merely expresses the intention to buy the NFT, and the system automatically handles the complex on-chain processes while ensuring transparency. The user retains control over the ownership and final outcome of the transaction. This model not only improves the user experience but also upholds the core principles of decentralization.
The essence of intent-centric execution lies in focusing on the desired outcome rather than the detailed steps. Users only need to specify the goal, while the system, smart contracts, or third parties manage the process. The results must be transparent and verifiable to ensure that users can track the entire process and confirm that the final outcome aligns with their original intent.
Introduction
dappOS is a network focused on intent execution. By building a middleware layer, it allows users to express their goals without needing to worry about the operational details. The platform bridges the gap between supply and demand, transforming users’ intentions into actual on-chain results. On the supply side, service providers stake collateral and choose to offer one or more execution services. On the demand side, developers can use the platform to find the best solutions to fulfill users’ intents.
OMS Mechanism
The underlying mechanism of the dappOS network is the Optimistic Minimum Staking (OMS) mechanism. “Optimistic” refers to the fact that OMS allows service providers to continue executing tasks even before the results are verified, enabling "optimistic" processing. “Minimum” means that service providers only need to stake an amount slightly higher than the total value of pending tasks to provide services to users.
Once a validator confirms that a task is successfully completed, the service node receives the corresponding rewards. If the task fails, the service node is penalized, and the user is compensated as agreed beforehand.
This design effectively balances task execution efficiency, service providers’ capital efficiency, and the overall security of the system. By lowering the capital costs for service providers, OMS ensures that user tasks are successfully completed while also guaranteeing compensation for users in the event of a task failure, thus enhancing the overall efficiency and flexibility of the network.
OMS
Three Main Participants in dappOS Network
Intent Task Framework
dappOS operates on a task execution network and, according to the dappOS Gitbook, currently features four types of intent task frameworks: Unified Account, Intent-Centric dApp Interaction, Intent Assets, and Intent Trading. More task frameworks may be added in the future based on user needs.
Unified Account
dappOS offers a unified account compatible with its intent execution network. Similar to centralized exchanges, assets within this account can be used across any dApp integrated with the chain, and most major tokens can be used to pay fees. This allows users to control multiple chain accounts with a single signature, even if their assets are spread across various blockchains.
Additionally, the unified account in dappOS enables flexible external interactions. Applications that can interact with external owned accounts (EOAs) can also use highly scalable execution interfaces and custom service logic through the unified account.
Intent-Centric dApp Interaction
The intent execution network of dappOS provides an efficient framework for real-time interaction with dApps. Users can seamlessly transition from the initial state to the final state with a single, simple signature. Traditional on-chain operations often involve complex steps such as cross-chain transactions, asset conversions, and contract authorizations, which are merely means to an end. With dappOS, users can achieve their goals with a single signature, greatly enhancing the user experience.
Moreover, thanks to the OMS mechanism, dappOS ensures that operations remain decentralized and secure while also being efficient and cost-effective. This intent-centric design simplifies complex blockchain operations.
Intent Assets
dappOS introduces intent assets, which enable seamless use of different forms of assets across various scenarios. Here are two examples:
Scenario 1: A user wants to exchange yield assets for USDT
Without dappOS, a user wishing to redeem yield assets like xxETH typically needs to trade on a decentralized exchange (DEX), which may involve issues like low liquidity or high slippage, resulting in losses. Redemption through official channels can take about 7 days, and users would also need to manually convert ETH to USDT. With dappOS, intentETH held by the user can be used directly on DEXs that support dappOS, allowing for one-click conversion to USDT, making transactions faster and more convenient.
Scenario 2: A user wants to buy $XXX tokens on xx L2 chain but lacks funds on that chain
Without dappOS, users need to raise funds on other chains, convert assets, and handle cross-chain operations, which can be cumbersome. With dappOS, users can directly use intentETH to purchase tokens on the xx L2 chain as easily as using regular ETH, avoiding many complex operations, not needing to pre-fund gas fees on multiple chains, and still earning rewards.
As of now, the first batch of partners of dappOS intention assets include: Pendle, Bouncebit, Monad, ether.fi, Lorenzo, etc.
Intent EX
dappOS’s intent trading task framework is designed to handle various asset trading and exchange tasks, regardless of the order size. Service providers can combine on-chain and off-chain strategies to optimize the execution process and secure the best trading outcomes for users.
Team and Financing Background
Team
The dappOS team is composed of core members with extensive experience in technology and blockchain.
Ty Shen, Founder and CEO, previously served as CTO and co-founder of Alchemy Pay, with experience in building blockchain payment systems, and founded VR company Tsing Visual. He graduated from Tsinghua University and has received numerous honors including Forbes 30 Under 30. He is responsible for dappOS's strategic planning and technical architecture.
Isabella Yang, Co-founder and COO, has a strong background in technology entrepreneurship and investment. She worked as a software engineer at Google and has invested in several unicorn companies. She graduated from Carnegie Mellon University and is an early investor in blockchain and a recognized female leader in the industry. She oversees dappOS business strategy and ecosystem development.
dappOS LinkedIn：https://www.linkedin.com/company/dappos
Financing
dappOS has completed three rounds of financing, securing support from well-known institutions such as Polychain, Binance Labs, and Sequoia China, with a valuation reaching $300 million.
pre-seed: In November 2022, dappOS was selected for Binance Labs' fifth season incubation program and received Pre-Seed funding from Binance Labs on June 20, 2023, though the specific amount was not disclosed.
seed: On July 21, 2023, dappOS announced the completion of its Seed round with a $50 million valuation. The round was led by IDG Capital and Sequoia China, with participation from OKX Ventures, HashKey Capital, KuCoin Ventures, TronDao, Gate Labs, Taihill Ventures, Symbolic Capital, Foresight Ventures, BlueRun Ventures, Mirana Ventures, and Leland Ventures.
Series A: On March 28, 2024, dappOS raised $15.3 million in Series A funding at a $300 million valuation. Polychain led the round, with participation from Nomad Capital, IDG, Flow Traders, IOBC, NGC, Amber Group, Uphonest, Taihill, Waterdrip, Bing Ventures, Spark Digital Capital, Web3Port Foundation, Satoshi Lab, and Metalpha.
Ecosystem
Collaborative Projects
In the past year, the dappOS ecosystem has experienced rapid growth. Many well-known and emerging projects such as GMX, Kyberswap, Manta, BENQI, and KiloEx have partnered with dappOS. The ecosystem collaboration map of dappOS is as follows.
Product User Scale
Due to the unique nature of its business model, the majority of dappOS operations are conducted in collaboration with other dApps. According to data published by dappOS on Dune, as of September 14, 2024, the cumulative number of unique users for the business conducted in partnership with GMX has reached 45,872, with a current TVL of $4,070,726.
The number of unique users for dappOS business conducted in partnership with Kyberswap has reached 41,645.
Community
As of September 14, 2024, dappOS community has grown to over 345k members. This includes 187.2k followers on X (formerly Twitter), 145,236 members in the Discord community, and 12,902 members in the Telegram group.