UXLINK focuses on the decentralized mapping of real-world acquaintance social relationship networks in the Web3 space, aiming to tap the value of social data, release the liquidity of social data, and explore the specific application of social data in financial scenarios.

Written by: 1912212.eth, Foresight News

The importance of social applications cannot be overemphasized. In the history of Internet development, if social products had not appeared and become popular, many glories might have been wiped out. Take China as an example. Whether it is WeChat for social networking among acquaintances or Tantan and Momo for social networking among strangers, once they break out of the siege, they often form a situation where all players take the cake. Especially in social networking among acquaintances, after MiTalk was defeated by WeChat, it can no longer compete with it. However, WeChat still has no competitors after more than ten years, relying on its position as the number one social networking among acquaintances.

Another interesting piece of history is that Alipay, which Jack Ma worked hard to build for many years, attracted only a small number of users despite subsidies and marketing activities. WeChat Pay, relying on the WeChat platform, easily surpassed Alipay and became a highly sticky payment function. The reason is self-evident. After a social product has a moat, it is relatively easy to make other tools and games. Of course, the most important reason is also due to the power of acquaintance social networking.

You may not click on the advertised products, but you will most likely take a look at the ones shared by your friends. You may find it difficult to distinguish the various assets, but you may study them carefully before deciding whether to buy them based on the recommendations of your friends. This is due to the cultural genes. China is an acquaintance society. When people do not know each other, the cost of trust is extremely high and the friction of reaching a transaction is also great.

Therefore, what will the social networking among acquaintances in the Web2 era look like in the Web3 era? The crypto industry is still exploring, but there is a social platform worth paying attention to, UXLINK, which seems to be emerging. According to its official website data, the total number of users exceeds 5.44 million and the number of groups is nearly 100,000.

UXLINK focuses on the decentralized mapping of real-world acquaintance social relationship networks in Web3 space, aiming to tap into the value of social data, unlock the liquidity of social data, and explore the specific application of social data in financial scenarios. In March of this year, UXLINK completed a new round of financing led by OKX Venture, bringing its cumulative financing amount to US$9 million.

It is rare for the social sector to reach nearly 10 million US dollars in financing. We have seen that even though many institutions have made large investments in L1, L2, AI, and gaming sectors, they are quite cautious in the social sector. The reasons are very complicated, but in the final analysis, it may be because they do not want to be the first to try something new. What UXLINK wants to do is to be the pioneer of social infrastructure and explore what kind of chemical reaction will occur when social is combined with data, assets, etc.

In addition, in order to expand and strengthen acquaintance social networking and create stronger "two-way" relationship interactions, it is extremely important. If it is only a one-way relationship like Weibo, its user connection is still relatively weak. Therefore, what UXLINK wants to do is equivalent to Web3 WeChat + data assets.

Whether it is a product or a protocol, the simpler the better in the social track. The product side for users must be as simple as WeChat, without the need for complex private key knowledge, mnemonics, and various Web3 professional terms. Login must also be convenient and fast. Fortunately, UXLINK has done quite well in this regard. For example, it supports login to various wallets and even Web2 products without various cumbersome processes.

UXLINK mainly consists of five stacks: product layer, application layer, protocol layer, infrastructure layer and asset layer. In the UXLINK framework, the RWS (Real World Social) system framework is created. The most important framework includes the infrastructure layer, which mainly provides technical solutions to support large-scale adoption. 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.

The protocol layer is a tool specifically provided for developers, and the API is customized for on-chain and off-chain systems to manage users' social identities and relationship data. The basic application layer provides basic product services for ecological applications and group functions.

As we all know, to utilize social data, more big data analysis is needed for behavioral analysis. UXLINK has developed the AWC protocol, which focuses on processing the relationship between identity ID and assets, and uses AI models for recommendation and analysis. Data is known as the oil of the AI ​​era. Based on a large amount of content analysis, users can more easily find information and assets that suit them.

Unlike most social protocol token models, UXLINK adopts a dual token model. The two tokens have different uses, namely the utility token UXUX and the governance token UXLINK. UXUY is mainly an incentive for the community and ecosystem. There is no pre-sale, and ordinary users can also earn UXUY by inviting friends, etc. UXLINK is used for community governance, with a total of 1 billion tokens. It is worth mentioning that the project party is quite rigorous and meticulous in the distribution of tokens, with up to 65% of the tokens allocated to the community.

As mentioned above, under a high-trust model, the easiest way to interact is asset trading. "Every generation has its own Ponzi scheme." If a social application under a high-trust model wants to break through quickly, in addition to the acquaintance effect, the best way is to bundle it with the attributes of financial assets, and through the continuous strengthening and dissemination of the wealth effect, promote it to continuously reach the user group.

In the past, most protocols or exchanges, in order to create a wealth effect to attract users, would often launch new high-quality projects through Launchpad, and continuously attract traffic and attention through considerable returns. This is one of the reasons.

Apart from the pure wealth effect, integrated product suites are also very important. For example, tool applications that can trade directly in groups are very popular. When the local dog MEME on Solana was popular, the order grabbing robot bot was very popular due to its speed advantage. With more useful and convenient tools and the dissemination of information accumulated by acquaintances, the combination of community and assets may explode with amazing power.

For example, the various NFT sales that broke out in the last bull market, the fundraising of various DAO protocols, and the MEME that is now popular, can open up unlimited imagination. Those who enter the market early and become the first batch of people to buy new assets have a better chance of capturing huge profits. Perhaps a certain wealth code of the future is hidden in it, brewing soon.

UXLINK is working intensively on the development of IDO and its product suite, and its progress is worth looking forward to.

The market underestimated the enthusiasm of users to participate in airdrops. The recent batch of airdrops of re-staking agreements have caused huge controversy due to their fairness. As for the project side, if we only look at TVL, the tokens will be distributed to big players, and weakening TVL will benefit the wool-pulling studio. How to conduct effective airdrops has always been one of the problems that plague the project side.

In view of this, more and more project parties have begun to play the points model. But as time goes by, more and more users realize that it is just endless PUA, which requires huge time and energy costs.

UXLINK airdrops are on the table, and the distribution of "IN UXLINK WE TRUST" series NFTs as airdrop vouchers was launched on May 3. According to the user's community contribution, on-chain interaction and asset status, it is divided into four levels: MOON, TRUST, FRENS, and LINK, corresponding to different rights and interests and the number of UXLINK token airdrops. The higher the level, the greater the number of airdrops it has.

Large-scale airdrops are more likely to spark larger-scale discussions and enthusiasm on the day the token is launched, making the cold start successful. Of course, the audience is most concerned about its price performance forecast. If the price is sluggish and does not meet expectations, it will often cause community loss and a significant drop in enthusiasm.

How to objectively value UXLINK among the various valuation methods nowadays? Let’s first look at the performance of competitors. Take CyberConnect for example. It was born in the last bull market, completed tens of millions of dollars in financing, and was endorsed by well-known VCs such as Multicoin. However, when you look at its coin price chart, it does not match its strong background at all.

As of now, data from Dapprader shows that CyberConnect's 7-day UAW (unique active wallet address) is 10,000, with a current market value of US$180 million and a FDV of US$870 million.

In contrast, benefiting from factors such as airdrops, UXLINK's 7-day UAW is as high as 400,000, and the transaction volume is constantly rising from the bottom. The number of TG and Discord is not very meaningful for reference, but it can be used as a reference as a factor of community activity.

We focus on Twitter, which is the most important platform in the crypto community, because it is the most active and popular information circle. UXLINK has slightly more followers than CyberConnect, but its dynamic activity is relatively low.

The social protocol Friend.tech, which has recently become popular again, has attracted a lot of attention with its V2 version and recent airdrops. Its new paid group Club feature, unique fee mechanism design and LP 600% of nearly 600% have also made its coin price performance quite impressive, from $1 to over $3, and the market now gives a valuation of around $250 million. Another social protocol Fracster, which is endorsed by Paradigm, was valued at an astonishing $1 billion when it completed financing at the end of March this year, which is quite exaggerated.

In a horizontal comparison, UXLINK's market value may be lower than Fracster and Friend.tech, but it is likely to be on par with CyberConnect or higher. Under the market philosophy of "speculating on new rather than old", investors tend to prefer buying new coins. The famous trader GCR once said that new coins are always full of hope.

Currently, from the product side, especially the recent 2049 event, UXLINK's ecological partners have increased very rapidly, especially the rapid increase in paying partners, which has also brought about a sharp increase in UXLINK's revenue, creating relatively optimistic expectations for its valuation.

If it meets expectations, it is entirely possible to reach a valuation of $200 million and a FDV of $1 billion after TGE goes online. The total amount of UXLINK is 1 billion. Assuming the initial circulation is 10%, the FDV will reach $1. If it is calculated based on a valuation of $200 million, it will reach $2 in the most optimistic scenario.

Of course, the price of the listed currency is affected by many factors, such as the brand awareness of the exchange (Binance, Coinbase, Upbit), initial liquidity, and the market cycle.

The current situation is just warming up. In the last bull market, many altcoins fell by about 75% in the first half of the year after Bitcoin fell. If history repeats, all altcoins have already bottomed out. Even some AI projects such as WLD and ARKM have rebounded rapidly.

Looking at the USDT market value chart, even though the market was severely tested last month, its market value continued to rise and even set a record high.

Funds are still flowing in. The market generally expects the Fed to cut interest rates twice in the second half of the year, and often smart money will rush ahead. Therefore, as long as BTC does not experience a large retracement, the subsequent market is still worth looking forward to. In addition, the recent popularity of the social track set off by Friend.tech may usher in a new wave of SocialFi hype. As one of the new seed players, UXLINK does not rule out the possibility of capturing the huge bonus period of the upward market.