Author: Zoey, MT Capital
In the current wave of social networks, Telegram group communication is an important part of people's daily lives. Notcoin and UXLINK are excellent products that use Telegram to achieve rapid user growth. Since its launch on January 1, 2024, Notcoin has quickly accumulated more than 30 million users and 6 million Telegram group members through lightweight Tap-to-Earn mining and viral spread. In contrast, UXLINK is based on acquaintance social networking and fission, and has also attracted a large number of participants through Link-to-Earn. At present, it has 4.6 million on-chain point holders and 1.6 million NFT holders.
Since its launch, UXLINK now has 8.2 million registered users and has built nearly 100,000 WEB3 groups, reaching more than 8 million users through these groups. This number is still growing. Throughout May, UXLINK's data has long been ranked first in the DappRadar social DAPP daily, weekly, and monthly rankings, and has remained in the top three of the comprehensive rankings.
MT Capital's Zoey said: "We are most optimistic about UXLINK's dual business positioning. It not only has rich functions and applications for C-end users, but also provides strong services and support for B-end developers. Traditional SocialFi platforms mostly rely on the scale effect of C-end users, while UXLINK has achieved a wider coverage and more stable income through dual market positioning. The expansion of C-end users has made the entire ecosystem stronger, and the cooperation with the B-end has enabled the value of traffic to be realized, and fed back to the growth of the community and increased user stickiness - it is both a user's usage platform and a developer's infrastructure.
And from the strategic perspective of MT Capital, we believe that Mass The key to the Adoption track is to break the limitations of a single market and form a multi-dimensional and multi-level user and revenue structure. UXLINK is not only a social platform, but also a core node of an ecosystem. By integrating multiple functions such as social, trading, and development into one platform, UXLINK can effectively attract and retain users and provide developers with a stable and scalable development environment. This diversified strategy not only enhances the platform's risk resistance, but also provides a solid foundation for future expansion and innovation. "
In the future, UXLINK will also be committed to building Social-Dex, expanding more functional applications, and producing more positive value. Today, UXLINK's monthly income can already cover the project's expenses, forming a benign development and flywheel effect, and the value of UXLINK Token will be further reflected. We believe that through continuous innovation and strategic layout, UXLINK will set a new benchmark in the field of SocialFi and promote the development and transformation of the entire industry.
This research report will discuss UXLINK's current development and future prospects from the perspectives of Mass Adoption's path, the sustainability of products and business models, user data and user portraits.
So far, there has not been a "Mass Adoption" project in this round of bull market. How to break the circle has also become the most common topic of web3.
Currently, UXLINK's Mass Adoption Path is as follows:
Use Telegram's huge traffic pool: UXLINK relies on Telegram's huge user base to quickly and cheaply acquire initial users and replicate the social relationships in the real world on the chain
Acquire and convert customers: Through incentive mechanisms, convert Telegram users into on-chain users
Users can earn UXUY points by sharing the invitation link of "Join UXLINK's TG community". This mechanism uses acquaintances' social relationships to quickly expand the user base.
In the AIRDROP2049 event launched in April and May, UXLINK attracted more than 1 million users from 190 countries and regions, and more than 50 partners participated. It is worth noting that more than 60% of users participated in the event through social invitations, which also demonstrated the wide appeal and virality of UXLINK.
Developer incentive mechanism: Use $UXLINK to pay for the use of protocols, data, and Dapps, attracting developers to continue to develop high-quality applications and enrich the ecosystem.
Open the social relationship data of the Dapp layer and provide it to developers through the protocol layer API.
Extensive ecological cooperation: Cooperate with partners in DeFi, AI, GameFi and other fields to promote the distribution of UXLINK points and NFTs and expand influence.
Release of the "UXLINK Social Ecological Alliance": further expand the developer community and third-party project cooperation to promote revenue and profit growth.
Tiered operations and long-term incentives: Tiered operations are achieved by issuing community NFTs of different levels, and 65% of the incentives are reserved for the community to ensure long-term incentives for active users.
Continuous "mining" opportunities: Establish a strong Web3 social network among users, and continue to allow users to obtain $UXLINK through community contributions. Contribution is "mining", which maintains user stickiness and activity.
$UXLINK has clear usage scenarios in terms of protocol usage, transaction commissions, airdrops/investment opportunities, etc., forming a benign deflation model.
Community allocation and incentives: Most $UXLINK tokens are allocated to community users and developers to promote sustainable development and user participation within the ecosystem.
Data-driven decision-making: By analyzing on-chain data, we optimize user experience and incentive mechanisms to ensure that the platform's development direction is in line with user needs and market trends.
Continuous improvement and innovation: Using on-chain data insights, we continuously improve existing functions and launch new features to maintain the platform's competitiveness and innovation capabilities.
Also rooted in Telegram, Notcoin uses lightweight Tap-to-Earn for mining and virality, allowing many new users to smoothly enter Web3 through the Telegram portal. Since its launch on January 1, 2024, Notcoin has quickly become one of the most popular and user-friendly channels on Telegram, with more than 30 million participants and more than 6 million Telegram group members, making it a favorite of traffic.
According to Dune Analytics, even though there is no TGE yet, UXLINK currently has about 4.6 million on-chain point holders and more than 1.6 million NFT holders, and this number is still growing rapidly. Compared with Notcoin, although UXLINK's current WEB2 traffic data is still a certain distance away from Notcoin, its conversion rate for users is far ahead of Notcoin. The current number of Holers on the Notcoin chain is 1.77 million (the number of Holders before TGE is 220,000). According to the on-chain holders, UXLINK far exceeds Notcoin, and the conversion from offchain to onchain and the ratio of active users to total users are higher, which can also effectively prove that UXLINK's users are more native and have a deeper interaction depth.
From this, it can be seen that UXLINK's conversion rate from offchain to onchain is very impressive, and user interaction is deeper. UXLINK is still actively cooperating with projects. At the same time, it is constantly doing work related to market education. With the launch of more applications, it is very likely to become the next Mass adoption product.
In terms of business model, UXLINK is both 2B and 2C.
C-end users mainly interact socially in group scenarios, discover, participate and invest/trade Crypto assets.
Most functions are free for C-end users, but the transaction part charges a handling fee of about 1-3%.
B-end developers use UXLINK's Dapps and RWS social protocols to develop and grow social relationships and data.
UXLINK will share commissions by providing different trading scenarios and products, such as Airdroup, Pre-market, MEMECOIN, etc.
UXLINK charges B-side developers for the use of applications, protocols and data, which are priced in Tokens, and 85-90% are allocated to community users, while charging 10-15% for infrastructure usage.
Income:
UXLINK has started to generate income in 2023, and since March 2024, it has begun to build the UXLINK social ecosystem to benefit the community and developers more.
Currently, UXLINK's monthly income (calculated in terms of the value of Tokens) can already cover the project's expenses.
Since its launch in late April 2023, UXLINK now has 8.2 million registered users and has built nearly 100,000 WEB3 groups. Through these group chats, more than 8 million users have been reached, and this number is still growing. Throughout May, UXLINK's data has long been ranked first in the daily, weekly, and monthly rankings of DappRadar's social DAPPs, and has remained in the top three of the comprehensive rankings.
According to Coin98's data statistics, UXLINK's current 30-day active independent address number ranks first in the socialfi track, and has an absolute gap with the second place.
In terms of operation, UXLINK adopts user stratification and strategy to accurately create user portraits. The current on-chain interactions mainly include the following two categories:
Interactions related to identity/social: such as SBT, Group, Social Graph, learning check-in, invitation, etc.
Interactions related to assets and transactions: such as NFT, airdrops, SWAP, Pre-Market, etc.
Through the issuance of NFT, the identification of user quality is also realized. The threshold for users to cast NFTs is the user's contribution to the community, the on-chain interaction behavior that occurs, and the value of the assets held by the user. Among them:
(1) The number of LINK NFT holders is 1,464,755, with high on-chain interactive users, and is the world's largest NFT holding group
(2) The number of FRENS NFT holders is 328,696, which is an active social group and the driving force for Web3 project parties to gain growth
(3) The number of TRUST NFT holders is 4,374, and they are KOLs and group leaders of the UXLINK ecosystem
(4) The number of MOON NFT holders is 353, and they are opinion leaders and asset giants of the WEB3 ecosystem.
As an innovative SocialFi platform, UXLINK has successfully attracted a large number of users and developers with its powerful group tools and unique dual market positioning, becoming a benchmark product in the industry. From quickly acquiring users based on Telegram's traffic pool, to achieving user growth through the Link-to-Earn mechanism, to introducing external developers and extensive ecological cooperation, UXLINK has shown great potential on the path of Mass Adoption.
Its business model takes into account both C-end users and B-end developers, and builds a robust ecosystem through diversified token use cases and reasonable incentive mechanisms. UXLINK has not only successfully converted a large number of web2 users, but also maintained the competitiveness and user stickiness of the platform through continuous data-driven optimization and innovation.
In the future, UXLINK will continue to focus on building Social-Dex, and will also launch Social Liquidity Layer for developers to use, producing more positive value. Today, UXLINK's monthly income can already cover the project's expenses, forming a benign development and flywheel effect, and the value of UXLINK's related assets will be further reflected. Through continuous innovation and strategic layout, UXLINK will not only set a new benchmark in the field of SocialFi, but also promote the development and transformation of the entire industry, and is expected to become a model product for Mass Adoption in the future.
References:
https://docs.uxlink.io/uxuy-labs-api/whitepaper/white-paper
https://blog.uxlink.io/airdrop2049-uxlinks-ecological-program-draws-over-1-million-users-from-190-countries-in-the-b4d1c87a2994
https://dune.com/queries/3753998
https://dune.com/queries/3755514
https://tonalytica.redoubt.online/public/dashboards/DdU5wpspip3RiIozMgVm2Tv8D9skZjSaNdMoumck?org_slug=default
Notcoin was launched as a Telegram mini-program in January this year. In just three months, it attracted more than 35 million users, with daily active users reaching 6 million. Its tokens were also listed on major exchanges such as Binance and OKX.
JinseFinanceMass adoption in the cryptocurrency field has long been a narrative troubling the market. Many applications lose users due to the collapse of their economic models after achieving mass adoption. This article uses UXLINK and NOTCOIN as case studies to analyze the requirements that today's popular social projects need to meet.
WeiliangAccording to official website data, since its launch in April 2023, UXLINK has accumulated more than 7.8 million users in 19 countries and regions, with a total of more than US$15 million in three rounds of financing.
JinseFinanceSTEPN and NOTCOIN are not gaming projects in the standard sense, and UXLINK is far from being a Web3-modified messaging product.
JinseFinanceRecommended readings for today's evening: 1. Cryptocurrency events worth watching in June; 2. Vitalik: Thoughts on the dispute over the size of Bitcoin blocks; 3. Is MeMe coin really swallowing up VC coins? ;
JinseFinanceNotcoin, Why is Notcoin so popular? Golden Finance, Summary of Notcoin’s popularity: It can only be used as a reference, not copied.
JinseFinanceA new dark horse has arrived in the SocialFi field——UXLINK
JinseFinanceUXLINK adopts the narrative context and product concept of "holding two and using the middle", which has stronger scalability and unlimited ceiling.
JinseFinanceIn the post-Friend.tech era, this article explains the token model and airdrop rules of UXLINK, an acquaintance social application.
JinseFinanceIf you want to ask which project in the Web3 social field has attracted the most attention recently, then it is the social monster UXLINK.
JinseFinance