What you think is what you get in terms of revenue, and this is what dappOS is doing. #dappOS推出基于其意图网络的现货交易 #BinanceWeb3Wallet
From Paradigm’s coining of the word last year to its implementation this year, many products are becoming “intention-based”.
However, at present, most intention products are still at the "technical" level, that is, solving specific problems in specific scenarios, such as limit order flow optimization, operational experience optimization, etc.
Ask yourself, what is your ultimate intention?
The answer will most likely point to “asset returns.” Currently, the way assets seek returns has not yet entered the era of intention.
Intention means doing what you want, not being torn.
But as long as you have crypto assets in your hands, you will be in a dilemma - either save it as xxETH to seek nesting returns, or convert it back into ETH to trade cryptocurrencies.
Your xxETH cannot be used in another protocol, nor can it be sold directly on CEX.
Why do you care about the difference between aETH and bETH? Why is your ETH different from his ETH... This is not the trouble you should bear. What you want is just the result of finding benefits globally, rather than getting stuck in a local process.
Therefore, the real intention at the "Tao" level is that assets can be used smoothly, go where you want to go, and find the returns you want without any jams.
Now, if you want asset efficiency and returns, dappOS’s recently launched “Intent Assets” understands what you need.
Once upon a time, dappOS was ridiculed as a concept created by VCs without much practical use. But recently, when you open Chinese CT and various research reports, almost all of them are talking about dappOS's intentional assets. Even Binance's Web3 wallet has launched related activities to encourage users to experience the entire operation process of intentional assets.
So, what exactly is this intent asset?
A version that is too long to read is:
Make the income assets available on the chain at any time. Whether it is to transfer the intended assets to CEX in the form of native assets, or to purchase Meme coins, participate in lending, and pledge on the chain, users can use them directly. There is no need for additional steps, waiting time, or enduring high slippage.
Why should you care about this intent asset?
For their own asset operations, they can find a way to optimize capital efficiency and make asset returns intentional; for those looking for Alpha projects, projects that are close to transactions and can solve practical problems are more likely to be favored by the market; for freeloading and profiteering, the current dappOS is pushing intended assets to multiple on-chain protocols to reach cooperation, which may create a "golden shovel" effect.
In a relatively sluggish market with few hot spots, understanding and trying such projects in advance may lead to different discoveries.
Dynamic and static integration, the biggest purpose of holding currency is asset appreciation
What is the intended asset of dappOS? Before answering the question, we must first know what problems the current encrypted assets are facing.
As we mentioned at the beginning, more convenient operations and easier to understand steps are actually just means, not ends.
The real purpose of the intention is to increase asset value and maximize returns.
Therefore, we should focus on intention, and even more so, on the intention of asset appreciation --- to make the assets flow more smoothly and complete the tasks of appreciation and finding more profits.
So why can’t the current intention of asset appreciation be fully realized?
One is the burden brought by the expansion of the ecosystem. Various L1/L2 chains that are not directly interoperable, each transaction requires gas payment and may fail, and there are many types of US dollar stablecoins that are not interoperable...
The second is the friction caused by the large number of assets. My aETH cannot be used as bETH, my aETH cannot be transferred to CEX and sold, and I cannot directly swap and sell it on $DEX --- the most ideal way of increasing income that I have seen always requires a certain amount of friction to achieve.
After the friction, the profit-added effect is greatly reduced.
For example, exchanging aETH for ETH often requires a certain withdrawal period; exchanging it for DEX may result in insufficient liquidity and slippage losses, etc.
In essence, it is the contradiction between the "movement" and "stillness" of crypto assets.
When you deposit money into a protocol while it is static, you are actually looking for income by contributing to the TVL of a certain protocol; but when you want to flow, the protocol does not help you solve the problem of free exit, nor does it have the motivation to help you solve it (it really wants you to stay here).
Therefore, the assets such as xxETH you hold in your hands are essentially separate tickets for each project, rather than a full pass to the amusement park.
If it is troublesome to exchange tickets, who will be willing to come to the amusement park as a novice? Who will be willing to be active in the park as an experienced player?
Ultimately, what you want is a single asset that is both static and dynamic:
Jing: Coins can be placed in various L2 and application protocols to form xxETH to seek income and staking.
Action: You can use xxETH to go anywhere you want to earn more, such as buying Meme, doing other staking, and swapping; without having to consider more rules that will create friction (such as changing chains, changing Gas, withdrawal waiting period, etc.).
The assets in your hands are dynamic and static, with no friction cost of state transition and high global availability. This is the essence of the concept of intentional assets.
This is also what dappOS is doing: what you want is what you get in terms of revenue.
Breaking through the dimensional wall, not just "Yu'ebao"
Now that we understand what intent assets are, let’s take a look at how dappOS works.
Seeing is believing, so it is more intuitive to go directly to the product's practical operation page.
Asset Redemption Scenario
Assuming you have ETH assets on various L1/L2, you can directly choose to mint them into intent assets, i.e. intentETH, through the wallet page of dappOS.
Later, under traditional circumstances, when you want to redeem your xxETH for ETH, you often need to find a DEX to exchange it, and the liquidity there may not be sufficient; if you exchange it back to ETH through the original route, there may be a different redemption period.
If you hold intentETH, you can directly use intentETH as ETH in the DApps option in the above page, without having to consider the issue of redemption and conversion to ETH. When you want to return to CEX operations, you can directly withdraw intentETH as ETH, with no lock-up period and low fees.
Interactive multi-chain dApp scenarios
Similarly, you may want to exchange back to ETH because there are more attractive money-making opportunities on other chains.
For example, you want to go to GMX on Arbitrum to do contract trading, but you don’t have money on Arbitrum now. Traditionally, you may have to use this ETH to cross the chain and then interact within GMX; and if there are opportunities on several chains, you have to divide the ETH into several parts and leave some gas and startup funds on each chain.
But if you hold intentETH, you can use intentETH to conduct contract transactions directly in GMX. In essence, you can treat intentETH directly as eth without having to go through the planning steps of "ETH --- cross-chain --- target chain reserved Gas --- exchange target chain Token -- go to the target chain App to operate". There are fewer things to consider and the experience is better.
As shown in the figure below, the intentETH minted by the author on BNB Chain can be directly operated in GMX, and the whole process is almost seamless.
In terms of intuitive experience, intentETH does not have the "sense of separation" of ETH on different chains, and it can be used immediately. When it is flowing, it is a globally traversable ETH, and when it is not moving, just holding intentETH will bring passive income.
As shown in the figure above, dappOS now supports many dApps to interact directly with intent assets, including many well-known dApps. From ordinary encrypted assets to intent assets, and then to support for multiple on-chain and off-chain scenarios, how is all this achieved?
The key secret lies in dappOS’s own Intent Execution Network.
The Intent Execution Network is responsible for the conversion and application of intent assets, ensuring that users can use their assets in a variety of situations, and entrusting complex tasks such as minting, destruction, and conversion to the service providers behind it.
You don’t actually need to care whether this network exists, because its purpose is to leave complexity to itself and leave simplicity to users.
To put it simply, you express your ultimate intention and it takes care of it.
What it means is that users can choose to transfer assets on different chains and seek ways to earn returns. However, in practice, dappOS intends to execute the network to help you with the process.
Security-sensitive players will definitely ask, why do we need someone else to operate on our behalf?
First of all, efficiency comes first.
How can we understand that the Intent Execution Network can provide institutional-level cost efficiencies to ordinary users?
In the dappOS network, there are various service providers who help you perform tasks, such as helping you exchange assets, find the best path, etc. Because the node service providers in dappOS are a free market, they get the opportunity to perform user tasks through bidding. In such a competitive environment, only nodes with higher execution efficiency and lower execution cost can win.
These professional nodes often have execution solutions that ordinary users do not have, such as:
The inflows and outflows of multiple users offset each other; first obtain a low-cost loan to advance the funds needed for user redemption, and after collecting a certain amount of interest-bearing assets, find the project party to redeem as a large user, thereby avoiding slippage losses caused by low liquidity of the on-chain DEX.
The dappOS Intent Execution Network is equivalent to empowering users with this institutional-level professional execution capability, allowing users to have a good experience using intention assets.
Secondly, security has not been compromised.
First of all, the underlying layer of the intention asset is composed of a series of underlying assets, and is essentially a withdrawal voucher. Users can call the contract to mint/burn by themselves. This allows users to redeem the intention for underlying assets in extreme cases, and on the other hand, when a single underlying income asset has problems, the impact on users is relatively small.
In the process of redemption and use through the dappOS network, the dappOS network adopts OMS (Optimistic Minimum Stake), a core trust and security mechanism. The total value of the current tasks accepted by each service provider cannot exceed the amount it stakes. Secondly, users transfer the risks associated with redeeming assets to service providers who are better able to deal with these risks, rather than signing multiple times and going to multiple places to execute their intentions. The risk of misoperation is also reduced.
As shown in the figure above, users only need to publish their intentions. Then the service provider executes the intentions, the verifier verifies the execution, and the matcher schedules the division of tasks. Under the guidance of economic incentives and interests, different roles perform their respective duties.
Seeing this, do you think this thing is like a "decentralized Yu'ebao"? In fact, it is true. There have been many products under the banner of "Yu'ebao on the chain", but in fact they are more like money funds, with only the function of current interest, and the use scenarios are very limited. But the "Yu'ebao" in the real world can meet people's daily needs. Everyone can use the money in Yu'ebao when shopping and transferring money; on the other hand, money funds often have to be redeemed before they can be used, and there is even a certain waiting period. It can be seen that the essential difference between Yu'ebao and money funds lies in whether the funds can be used immediately and the richness of the use scenarios. Compared with Web3 current financial products that can only "deposit and withdraw + interest at any time", dappOS intention assets are not only decentralized and non-custodial, but also more like a real Yu'ebao, which can solve the problem of low-cost and high-efficiency use of intention assets in most scenarios through the intention execution network.
In terms of usability, liquidity, and security, Intent Assets is clearly superior to previous similar products:
Low friction: You just need to express your intention, and the friction of crypto assets flowing across ecosystems and chains is minimized;
High security: assets are not managed and are not controlled by a central authority. The signing right is still in your hands. It is nothing more than outsourcing the intended task to others. If it is not done, you will get corresponding compensation from the OMS mechanism.
If it is still not intuitive enough, the following picture clearly provides a comprehensive comparison between intention assets and other products in terms of the breadth of asset use, yield and security.
Efficiency, high availability, and security are all required. This combination may not be a luxury, but something that crypto assets should be able to do.
Spreading branches and leaves, reaching the ecosystem
After looking at the product, let’s take a look at the possibilities of dappOS.
Whether a project is successful or not, endorsement and ecology are both key points to consider.
In terms of financing background, dappOS initially received financing support from Binance Labs, and in the last two rounds of financing it has received favor from well-known VCs such as Polychain, Sequoia China, IDG, and OKX Venture.
Although the current market is gradually reflecting on and accepting VC coins, the influx of capital has undoubtedly increased the legitimacy and credibility of project construction. Regardless of how the project tokens themselves will be unlocked and performed, for players who are currently seeking returns and opportunities at different stages of project development, the endorsement situation can provide a strong reference.
In terms of ecological construction, the flow of intentional assets cannot be separated from the support of more partners. At present, dappOS has launched strategic cooperation with more than 10 partners in the figure below, including applications, L1 and L2. It can be seen that the underlying income sources of intentional assets are all top projects with TVL of billions of US dollars, and the security and income are guaranteed.
For a project that mainly promotes assets, how many other projects and ecosystems support it can directly determine the influence and upper limit of the assets.
Currently, the underlying income of dappOS's intentBTC, intentETH, and intentUSD comes from various LRT/Pendle PT assets (such as wstETH, sUSDe, sDAI, stBBTC), etc.
It can be seen that the intention asset has already covered the Bitcoin and Ethereum ecosystems in the early stages; because of the marginal increasing effect of the network, when an asset spreads, the support of more partners means that the liquidity and availability of the intention asset will increase exponentially.
In addition, players are most concerned about revenue and tangible benefits.
In the near future, Binance Web3 Wallet will jointly launch a user incentive activity with dappOS, with a reward pool of 500,000 USDC.
The event is divided into two tasks: "Intent Asset Minting" and "Intent dApp Interaction", encouraging users to experience the intent assets and intent dApps based on the dappOS intent execution network through the Binance Web3 wallet.
Interested players can learn more information here.
Outlook: Intent to benefit all
Ultimately, intention begins with narrative and ends with implementation.
Products that solve the problems of high asset availability and capital efficiency and put intentions into practice will actually be liked by both the supply and demand sides of the crypto world.
For users on the demand side, assets need to generate more returns. With better liquidity and more convenient use, there is naturally no reason or threshold to refuse. If using dappOS can unlock more possibilities, why not do it while ensuring security?
On the supply side, the battle between hundreds of chains and thousands of projects has already become a red ocean. Applications in the ecosystem want to attract users. In addition to some rewards, of course they also hope that users can smoothly transfer from other places to me --- a small step in migration cost is often a big step in TVL.
Judging from past data, when other variables are given, the number of users and TVL did increase significantly after taking on the dappOS project.
This also reveals the "Tao" in the crypto world, which is to maximize capital efficiency and optimize the trading experience. A universal intention is a better intention, rather than staying at the level of narrative and "technique".
A righteous cause will have many supporters, and one should never forget the well diggers. We hope that there will be more and more well diggers like dappOS, so that the entire crypto ecosystem will benefit.