WuBlockchain - What kind of DApp do we need?
Author: OFR XIN Source: https://www.noweb3.ai/p/what-kind-of-dapp-do-we-need?utm_source=profile&utm_medium=reader2 If you are a rational and neutral investor, please admit, we don’t need more infra projects. —At least at this moment. Current infra can sustain us to the next bull run or maybe even the next next bull, if there is one. Scalability - we have Solana, legitimacy- ETH L2 Rollups and incoming zkEVMs; Decentralization- Ethereum L1; Composability - Cosmos or Polkadot. We possess all the necessary elements for the creation of applications, including hundreds of Raas or AppChain services. However, the question remains: Where are the killer apps? Last cycle, we have DeFi saved our ass, AMM Dex + Pooled lending + Yield farming ignited thousands of Dapps with tweaks in mechanism to copy to different chains. What kind of Dapps will be the saviors this time? Here is what I’ve found. Let's dive in. 1.Meme coins Meme coins such as $Pepe or $Bitcoin(HarryPotterObamaSonic10Inu) are awesome innovations during the bear market. They have given rise to a culture of degens and a more equitable token mechanism compared to VC-backed tokens with billion-dollar valuations and over-hyped strategies that are likely to experience a dump in the coming days. In a way, some of the major infrastructure projects could even be seen as meme tokens, created specifically for venture capitalists to alleviate their fear of missing out on large infrastructure investments that they missed in the previous cycle. Creating a cultural symbol that can spread like a virus is always a challenging task, with no set template to follow. To become a successful meme creator, one should possess a thorough understanding of the degen subculture, as well as a keen sense of artistic design. Furthermore, using tokens with no "intrinsic" value poses a challenge to growing the community. In my opinion, meme coins have become another cultural phenomenon that has gained traction in the crypto world, following the popularity of NFT PFPs. 2.Friend. tech (abbreviated as ”FT” in the following) FT is often referred to as a social product in most analyses. However, I consider it a financial product based on Twitter's (or X's) user network. It didn't create a new social network or introduce any new communication paradigm, like how IM did with SNS in Web 2.0. We can create a product formulation that incorporates token monetization into Twitter's social network value if you agree with my assessment. Essentially, we would be tokenizing Twitter ahead of its own token launch. Based on the first principle, we can develop more Twitter-based token products with different product formats. Recently, a team proposed a product called "Tip coin" which aligns with this principle. 3.Telegram bots Unibots originated from a simple idea that many teams have likely explored. However, it stands out from other products with similar initiatives in two key aspects: Unibots launched new features catering to meme traders, including limit orders, copy trades, and private mempools. While many teams are touting their "intent-centric" concept, Unibots has already put the concept into daily use millions of times. Additionally, their token design is carefully crafted with a fair launch model that maximizes community interest and aligns token value directly with revenue. It is important to note that Unibots leveraged Telegram's user base, which is considered essential for any player in the crypto industry. What can we conclude from the above example? If we consider Product, Subculture Creativity, and Tokenomics as a triangle (as many metaphors in crypto‘s jargon), successful projects typically possess two of the three elements. However, for a project to attain widespread adoption and long-term viability, all three are recommended. Meme tokens have sparked a subculture craze and feature a well-designed token mechanism, but currently lack an available product. The FT has a strong approach to product launches and a well-designed token system for bootstrapping. However, it doesn't embody any specific subculture. Unibots has successfully launched a great product, and the token model aligns well with it. However, the project has yet to establish its own distinctive subculture. What are the products and builders I’m expecting?
Based on these criteria, I expect more DApp builders to join the DApp building community. I don't want to label it as just another buzzword or category. If I had to, I might refer to it as "TwitterFi", "TelegramFi", or "MemeFi", using the universal nomenclature of the crypto industry. In some of the more contentious areas, like Onchain Gaming or Autonomous World, I believe there is significant potential for talented individuals to create highly successful products. However, I also have concerns that the learning curve for non-hardcore crypto gamers may be too steep. I would be interested in collaborating with builders from Onchain Gaming to explore more accessible ways of onboarding users, while also considering proper tokenomics. I am genuinely surprised that there hasn't been more discussion around token design within the Onchain Gaming communities. The best Timing to invest in Web3 is - Now!
Follow us Twitter: https://twitter.com/WuBlockchain Telegram: https://t.me/wublockchainenglish Wu Blockchain is free today. But if you enjoyed this post, you can tell Wu Blockchain that their writing is valuable by pledging a future subscription. You won't be charged unless they enable payments. |
Older messages
Asia's weekly TOP10 crypto news (Sep 11 to Sep 17)
Sunday, September 17, 2023
Author:0xMingyue Editor:Colin Wu 1. Hong Kong's Weekly Summary 1.1 Vitalik Questions the Sustainability of Hong Kong's Cryptocurrency Friendliness link On the 14th of September, Vitalik Buterin
WuBlockchain Weekly: CoinEx Faces Cyberattack, FTX Coin Selling Rules, Binance US Announces Layoffs and Top10 News
Sunday, September 17, 2023
1. US August Unadjusted CPI at 3.7%, Core CPI at 4.3% link In August, the seasonally adjusted CPI in the United States rose by an annualized rate of 3.7%, slightly exceeding expectations of 3.6%. This
Weekly Project Updates: opBNB Mainnet Launches, Polkadot Chinese Community Ceases Operations, Friend Tech Records …
Sunday, September 17, 2023
1. Ethereum's Weekly Summary a. Ethereum's Holesky Testnet Officially Launched link On September 15th, the Ethereum Holesky testnet was set to officially launch, with a scale twice that of the
Folius Ventures: Friend Tech Analysis Report
Tuesday, September 12, 2023
Folius Ventures has released an analysis report on Friend Tech, highlighting that the company currently refuses to engage with any VCs other than Paradigm. Mining is the only way to gain exposure to
Coinbase Founder's Top 10 Focus Areas and Their Representative Projects
Monday, September 11, 2023
Author: defioasis Note: This article is for information sharing only and does not endorse the projects mentioned. It has no financial interest in the projects. Following Paradigm's announcement of
You Might Also Like
WuBlockchain Weekly: Federal Reserve Announces First Rate Cut, Trump Buys Burger with Bitcoin, CZ Set for Release …
Friday, September 20, 2024
The Federal Reserve announced a rate cut to 5%, lower than the anticipated 5.25%, marking the first rate reduction since March 2020. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
NFT & Blockchain Gaming Weekly - 🪙 DeGods launches DEGOD token on Solana; PayPal and Venmo integrate ENS
Friday, September 20, 2024
DeGods launches $DEGOD on Solana. PayPal and Venmo integrate ENS. Magic Eden and Mocaverse unveil NFT launchpad, MagicMoca. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
🥛 $BTC supply crunch incoming? 📈 These charts say yes...
Thursday, September 19, 2024
PLUS: RWAs just hit an all-time high in total value! 🏆
Trump involved in Bitcoin transaction in New York’s PubKey bar
Thursday, September 19, 2024
Former President Trump assisted in completing a Lightning transaction to buy burgers for fans. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
DeFi & L1L2 Weekly - 🚀 Ethereum on-chain stablecoin volume reaches all-time high; Sky launches SKY and USDS
Thursday, September 19, 2024
Ethereum on-chain stablecoin volume reaches all-time high. USDC launches on Sui blockchain and is available in Brazil and Mexico. Sky launches new tokens SKY and USDS. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
DeFi & L1L2 Weekly - 🚀 Ethereum on-chain stablecoin volume reaches all-time high; Sky launches SKY and USDS
Thursday, September 19, 2024
Ethereum on-chain stablecoin volume reaches all-time high. USDC launches on Sui blockchain and is available in Brazil and Mexico. Sky launches new tokens SKY and USDS. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Analysis of the impact of the Fed's 50bps rate cut on the future market
Thursday, September 19, 2024
At its September meeting, the Federal Reserve cut rates by 50 basis points, with its monetary policy statement emphasizing the goal of maximum employment. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
🥛 Fed cuts 50 bps 🔪 Here’s the market’s reaction...
Wednesday, September 18, 2024
PLUS: 5 reasons to stay in the market! 🔍
Bitwise CIO likens Ethereum to Microsoft, bets on underappreciated dominance despite bearish sentiment
Wednesday, September 18, 2024
Hougan believes that despite market doubts, Ethereum still leads in DeFi assets and institutional adoption, much like Microsoft's role in tech. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Binance co-founder publishes a long article responding to the recent coin listing standards
Wednesday, September 18, 2024
Author: He Yi ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏