The hottest thing recently is a new track called “Intention” network. The dappos in it have also received strong support from Binance. Not only has it started the airdrop mission, but will it become the next BN Launchpool to go online?
So why is he so favored?
Since the development of the crypto economy, the infrastructure on the chain has been gradually improved, but the user experience is still in its early stages. After the user operation experience is improved, it is expected to attract more users to enter the chain ecosystem, which in turn promotes the further development of infrastructure and the enrichment of business forms, forming a ladder cloud effect of stepping on the left foot and the right foot. The "1995 moment" of cryptocurrencies may depend on the emergence of a user-oriented killer application or operating system.
The dappOS intention track is working on this, changing the current on-chain operation logic of "assuming that users are experts" to "assuming that users are novices", hiding the complex operations and logic, and providing users with a simpler, more convenient and safer experience. AI can also help users realize their intentions more easily.
Project Introduction
DappOS is an intent-based execution network for specific value tasks, enabling chains and dApps to be intent-centric. It transforms intent into on-chain results by creating a two-sided market: on the supply side, service providers pledge collateral and choose to run one or more execution services. On the demand side, it enables developers to find solutions that meet user intent.
Project Features and Vision
Intention and the “1995 Moment” of Blockchain Experience
In the blockchain field, "intent" refers to the user's real needs, such as "buy $1,000 worth of Meme Coin $BRETT" is an intention. However, it is usually not easy to complete this intention, especially when the user's assets are distributed on different blockchains. In order to achieve this goal, multiple transactions may be required, involving cross-chain operations, asset conversion, and the use of various on-chain knowledge.
From demand to execution: a complex on-chain operation example
Assume that the user does not have enough stablecoins on the Base chain, and most of the assets are on the Ethereum network. In order to buy $BRETT on the Base chain, the user needs to go through the following steps:
Asset conversion: On the Ethereum mainnet, convert 1005 USDC to ETH, because the Base chain does not support the use of USDC to pay for Gas fees.
Cross-chain operation: transfer ETH across chains to the Base network.
Final purchase: Use cross-chain ETH to purchase $1,000 worth of $BRETT on the Base network.
These three seemingly simple steps require a lot of knowledge. For example, users need to understand the performance, fees, and speed of different cross-chain bridges; know how to configure the RPC information of the Base chain and add the network to the wallet; and be familiar with the transaction aggregator or DEX on the Base chain in order to get the best transaction price. This may not be complicated for a blockchain veteran, but for a novice, the whole process may require detailed tutorials to complete step by step.
The current state of on-chain experience: Going back to the early days of computing
The current on-chain experience has many similarities with the early stages of computer development. Before the release of Windows 95, the powerful functions of computers were mainly operated through the command prompt (CMD), which was simple and efficient for technicians who were familiar with the underlying logic. However, for ordinary users, this interaction method was complicated and difficult to understand, which greatly limited the popularity of computers.
Similarly, although blockchain technology is powerful, it is still not user-friendly enough due to the complexity of user experience. Today, most users entering the crypto industry only hold cryptocurrencies through centralized exchanges, and the popularity of on-chain applications is still low. Achieving large-scale popularization of on-chain applications may require a "revolution" similar to Windows 95.
The revelation of Windows 95: a small improvement in experience brought about a huge change
In 1995, the release of Windows 95 completely changed the computer experience. Users no longer needed to perform complex operations through the command line, but could complete various tasks simply and intuitively through the graphical user interface (GUI). At the same time, the emergence of Internet browsers further lowered the threshold for ordinary users to enter the Internet. These seemingly minor experience improvements actually greatly promoted the popularization of personal computers and brought about the subsequent Internet wave.
This "1995 moment" profoundly changed people's lifestyles and created a series of great technology companies such as Microsoft, Apple, and Google. Today, the blockchain industry is also looking forward to a similar moment, the emergence of a killer application or operating system that can significantly lower the user threshold and simplify on-chain operations.
Crypto’s 1995 Moment: Still Needs to Wait
Although the passage of the BTC ETF marks the government's recognition of the crypto industry and attracts more users to this field, most users still simply hold cryptocurrencies through centralized exchanges without really using on-chain applications in depth. In terms of popularity, the "1995 moment" of the crypto industry has not yet arrived. In the future, a killer, user-oriented application or operating system may be needed to lead this revolution.
Intent: One of the best use cases of AI+Crypto
AI has developed rapidly in the past few years. Many people believe that 2023 is the "1995 moment" of AI. ChatGPT and other chatbots based on large language models have begun to enter the lives of ordinary people. The capital market and the general public have paid unprecedented attention to AI. At present, the improvement of the capabilities of large language models is far from a bottleneck. We don't know to what extent we can improve the capabilities of AI, and we don't know how AI will reshape our industries. With the release of GPT-4o, the time for AI to fully come into our lives seems to have been quickly moved forward.
The combination with AI has been one of the important topics in the crypto space in the past year, and the related concept tokens have risen dramatically. The author believes that if we start from business logic, blockchain AI agents will be one of the best use cases for the combination of AI and encryption, which will also make it easier for people to achieve their intentions.
Team members
Ty Shen is the founder of DappOS, former CTO and co-founder of Alchemy Pay, and also founded VR (Tsing Visual, acquired in 2016) and KanZhuan App. Ty Shen graduated from Tsinghua University with a degree in Mathematics and Software Development.
Isabella Yang is the co-founder of DappOS. She was previously a software engineer at Google. • General partner at HIG and an angel investor in Web3. Isabella Yang received a fellowship in artificial intelligence research at Carnegie Mellon University.
Taylor Harris is the Community Lead at DappOS.
Investment lineup and financing
dappOS was selected for Binance Labs' fifth season incubation program in November 2022, and received Pre-Seed round of financing from Binance Labs in June of this year.
On July 21, 2023, dappOS completed its seed round of financing, 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, Leland Ventures, etc.
On March 28, 2024, Web3 Intent Execution Network dappOS completed a $15.3 million Series A financing, led by Polychain, with participation from Nomad Capital, IDG, Flow Traders, IOBC, NGC, Amber Group, Uphonest, Taihill, Waterdrip, Bing Ventures, Spark Capital and Metalpha
Project popularity
Twitter followers: 19W
DIS fans: 14.5W
Project Summary
The intent track aims to improve the user experience of web3, thereby opening the "1995 moment" of web3 and introducing massive adoption. The intent track is also a popular track for VC investment in the past year, and many projects have also aligned their projects with the concept of intent.
Solving industry pain points: dappOS solves the current "TVL rigidity" problem in the crypto industry by optimizing the profitability, usability, and convenience of assets through intentional assets, and improves user experience, which is the core element in promoting the popularization of the crypto industry.
Lowering the user threshold: dappOS is committed to simplifying the user experience, eliminating barriers for new users in technical details such as cross-chain operations and L1/L2 differences, and satisfying users' desire to directly realize their interaction needs. This user-friendly experience will attract more new users to enter the crypto field.
Extensive ecological support: dappOS has received support from many Web3 head projects, such as Babylon, GMX, Manta, etc. These collaborations will promote the popularization of intent asset standards and form a unified, secure and user-friendly Web3 asset ecosystem.
Early market advantage: As a project that has addressed user experience issues in the early stages of the crypto industry, dappOS has a first-mover advantage and has the potential to occupy an important position in the industry.
Great growth potential：As more and more mainstream products adopt the dappOS standard, its network effect will continue to increase, and the long-term growth potential of the project will increase.
