Haotian: Can dappOS drive explosive growth in Ethereum TVL?

In the volatile market environment, people in the Web3 field are constantly looking for new industry opportunities, and dappOS has become the focus of the current market with its unique intentional assets and interactive activities jointly launched with Binance Web3 wallet. In the Binance Square voice live broadcast held on September 5, many well-known guests gathered together to discuss in depth the theme of "After the volatile summer: How do dappOS intentional assets and Binance Web3 bring new vitality to assets?" The guests analyzed the technological innovation, market potential and future development direction of dappOS from different perspectives. The following is a review of the highlights of this live broadcast.

Guests: Jason Chen, Alert, CryptoWeiChou, Haotian, ChainResearch, BitHappy

Time: September 5, 20:00

Topic: "After the turbulent summer: How do dappOS intentional assets and Binance Web3 bring new vitality to assets?"

Location: Binance Square Voice Live

Chen Jian: Re-understanding dappOS, nodes independently formulate strategies and realize their intentions through quotations

Chen Jian: I think this is completely different from my previous understanding of dappOS. I also sent a tweet yesterday. In fact, before that, I always thought that the process of realizing the intention was that the dappOS system preset various rules, and the nodes were only responsible for executing these rules and earning fees. However, after the dappOS research leader gave me a comprehensive explanation yesterday, I realized that in the process of realizing the intention, the corresponding strategy was independently formulated by each node in the network. After the strategy is formulated, it is implemented through quotation. This free market of nodes is indeed a considerable innovation. Nodes can choose appropriate strategies according to their own advantages to participate in the quotation competition, and ultimately provide users with professional execution efficiency and low execution costs, while the OMS mechanism of dappOS can ensure the security of users.

PumpPumpSuperman: dappOS lowers the threshold for users and developers and improves the Web3 experience

Superman: If we follow the Web2 mindset, when we use Web3 products, it feels like we are directly calling the API interface. In fact, what we should provide to users is an APP end, which will provide functions according to user needs, rather than asking users to call the interface. For example, the cross-chain bridge and AA wallet, although the AA wallet can call functions with one click, its gas fee is higher, and some asset ends are still scattered on different surfaces, which does not completely solve the problem. Cross-chain is similar, the friction cost in the middle is relatively high, the user experience is not very friendly, and it is not smooth enough to use.

But in the intention track, I think it is a dapp operating system that everyone can use. I think we should lower the user's understanding threshold first, so that more people can get started, so that it is easy to understand its true intention. This exploration direction is better than rolling out various complex infrastructures. It is actually just about achieving the results expected by users. Professional nodes will formulate plans and call their infrastructure to achieve the results, providing a graphical interface for users to use, so that the experience will be smoother and the user retention rate will also increase.

On dappOS, just like Alipay, users only need to deposit money, and the system will tell you the annualized return, and you can buy it directly. For Web3 developers, using intention assets to develop is purer than the traditional way, without considering the differences and compatibility of various chains. I think the overall experience will be better for users and developers.

Alert: DappOS's security mechanism allows users to enjoy the power of AI while avoiding risks. At the same time, with the advancement of AI technology, users will gradually turn to a more efficient automated experience.

dappOS has played a huge role in promoting AI to enter Web3, and will also benefit from the advancement of AI technology. When using AI, users often worry about not being able to understand the logic of AI, and then worry about the possible losses. However, the security mechanism of dappOS only focuses on the results, not the process, and can ensure that when AI fails to achieve the user's intention and causes losses, the user can get pre-defined compensation. Therefore, users can enjoy the powerful capabilities of AI without worrying about risks. This has a strong promoting effect on AI entering Web3. AI with an accuracy rate that reaches a certain threshold can be used on a large scale by users.

At the same time, as AI technology continues to improve, the capability gap between AI-based service nodes and ordinary users will become larger and larger. Eventually, users will abandon manual operations and turn to the intention execution network of dappOS to achieve a more efficient and automated experience.

Haotian: Is DappOS the key factor for the next explosive growth of Ethereum TVL?

AI was proposed to solve the problem of intent, but I found that people stopped discussing it after a while. I think this is because the current application of AI to the intent track is a bit ahead of time, and it feels difficult to implement. So I recently looked at what dappOS has done, and I feel that it does not exaggerate the concept of AI, but actually implements many applications. So I think this track is worthy of attention. Professor Chen Jian also mentioned before that the infrastructure of the Ethereum ecosystem is a bit excessive. It happens that this month is the half-year node after the Cancun upgrade. I wrote an article about the status of the L2 second layer before. The content is about the lack of obvious increase in transaction volume, and at the same time, many second layers have shelved the growth of Ethereum's TVL.

As a Web3 operating system, dappOS abstracts accounts and assets and provides a unified way of operation. Users do not need to care about which chain the assets are circulating on. They only need to convert the assets into intent assets and then hand them over to the intent node for processing. This reminds me of my past experience as a programmer - early computer programming required the use of assembly language, and programmers had to consider different CPU instruction sets, save timing, and memory management. But with the emergence of operating systems, especially Windows 95 launched by Microsoft, home computers were brought into thousands of households.

Bithappy: dappOS lowers the transaction threshold, and on-chain operations are as simple as using CEX

I only focused on BSC in 2021 and 2022, and didn’t touch other chains. One of the reasons was that I thought it was too troublesome to buy coins on other chains. This is also a problem that all newcomers will encounter. Although many of you here are big guys or senior users, for many people in Binance Square, Binance is a centralized exchange. Many of the users we opened today are just traders and are not very familiar with the operations on the chain.

DappOS can solve these threshold problems very well and help users who are accustomed to centralized transactions to better understand Web3 and on-chain operations, which is very meaningful. Another thing I like about DappOS is that it supports enough chains and ecological projects, which greatly expands the user's choices and experience.

Crypto Vedo: The first demand of Web3 is liquidity, DappOS simplifies asset liquidity management

The smooth experience that everyone mentioned just now, for example, I enter the market from ETH, and after converting it into Intent assets, I can earn interest or directly use it for contract transactions. Platforms like GMX or KiloEX, I can use it to hedge the risk of ETF decline. This process is very convenient. The previous interactive operations had a lot of costs. Each interaction would lose several points, and there were also hidden costs, such as the complexity of the operation. If the steps are cumbersome, there may be mistakes, and it is scary. It feels better to directly exchange assets for USDT, which saves time and effort, and the loss of a few percentage points is also within the acceptable range.

But now there are tools like dappOS that have indeed solved these problems, simplified the process, and greatly reduced operating costs.

In addition to the wonderful speeches of these guests, we have also compiled some common questions that appeared in the live broadcast and recent community Q&A for your reference:

Q: dappOS has been very popular recently. If ordinary users participate in the joint activities of Binance Web3 Wallet and dappOS at this time, will they not be able to get any benefits?

A: The reward rules of this event are designed to favor ordinary retail investors. Large investors cannot get rewards proportional to the size of their funds from this event (but they can eat the yield of their intended assets in proportion). In addition, Binance Web3 wallet has stricter verification of the authenticity of users when issuing rewards for activities, such as requiring KYC users. The cost of rolling up the wool studio will be very high compared to the pure on-chain address.

Q：Where are the intent assets stored? Are they centrally managed by dappOS?

A: Intent assets are decentralized and non-custodial, which is one of the advantages of intent assets compared to some crypto financial products. Intent assets are stored in smart contracts on each chain, but the form is not necessarily u, it may be other whitelisted assets such as Pendle. Users can redeem them by calling the contract. As long as they move to the correct chain, they can get back assets of equal value. The redemption process does not necessarily have to go through the dappOS intent execution network.

Q: If there is a problem with the underlying interest-bearing asset project of the intended asset, will the intended asset still be decoupled when the user needs to escape?

This depends on what the specific problem is with the interest-bearing asset project:

1. If these interest-bearing assets can eventually be exchanged back to native assets (BTC/ETH/USDT), but liquidity is temporarily insufficient or exchange is temporarily closed to ordinary users, then there will be no depegging, and at most the execution fee will increase slightly. This is because the nodes will basically not go through the dex and will directly contact the project party. At the same time, because the underlying assets are multiple interest-bearing assets, if they cannot be redeemed in the short term, the nodes will choose to exchange for other interest-bearing assets first.

2. If these interest-bearing assets can no longer be exchanged back to the original assets, then this part of the loss will be covered by the interest difference in the treasury first, and the actual de-anchoring will occur only if the treasury is insufficient. However, because the risk is dispersed, it is definitely less than the loss of users directly holding the problematic interest-bearing assets.

Currently, all projects that can be used as underlying assets have been strictly screened, mainly those that have been listed on Binance and have a locked-in volume (TVL) of more than US$1 billion.

Chen Jian: It makes me feel that this is completely different from my previous understanding of Di POS. I sent a tweet about Depress yesterday. Actually, I always thought that the process of realizing the intention of Depress is that the Depress system presets various rules, and the nodes in Depress just execute these rules. Then they earn a fee for doing this work. But yesterday, Linchuan gave me a comprehensive explanation, and then I understood that the corresponding strategy is actually formulated by each node in the entire network. After formulating, they will go through the quotation method.

Superman: It's a bit like what I said in terms of WEB2. We are using WEB3 stuff, and it feels like we are directly calling the API interface. Normally, what we provide to users should be an APP end, and the APP end may need to use some functions. It's not that you have to call the interface, like the cross-chain bridge and the AA wallet, and the AA wallet actually has disadvantages. Although he said that you can call anything with one click, his blanket is more expensive, and some of his assets are actually distributed on different surfaces, and the problem has not been completely solved. Then, if it's cross-chain, it's actually the same, that is, the friction cost in the middle, there are more in all aspects. Then, from the user experience, his experience is not user-oriented, so the whole use is not smooth. Then, but for this track, I think what we are doing is a DAP operating system, and then everyone can use it, so I think now we should first lower the threshold for everyone's understanding. If everyone gets started, it's actually easy for us to understand what he really wants to do. Then I think this direction can be explored, and this exploration direction will be better than rolling up all kinds of messy infrastructure. What this does is equivalent to making all kinds of other infrastructure into an API interface, and then providing a graphical interface for users to use. In this way, it will actually be smoother to use, and the overall retention rate, user retention rate, and other aspects will be better. I have finished answering

Emotionless live broadcasting machine: dappOS has a great role in promoting AI to enter web3 and will also benefit from the progress of AI technology. The problem with users using AI is that they cannot understand the logic of AI and therefore worry about losses, but the security mechanism of dappOS only considers the results regardless of the process, which can ensure that users get pre-defined compensation when AI fails to achieve the user's intention and causes losses. Therefore, users can enjoy the powerful capabilities of AI without worrying about losses. At the same time, when AI is powerful enough, the gap between the capabilities of service nodes based on AI and ordinary users will become larger and larger, thus completely abandoning manual operations and turning to the intention execution network of dappOS

Haotian: Let’s talk about AI to solve this problem, but I think no one talked about it for a long time, because I think putting AI on this one-picture track at this stage is a bit too advanced, so it makes people feel that it is difficult to implement. Yes, so I recently looked at what dappOS has done, I don’t think it’s so exaggerated to apply the concept of AI, but it has indeed implemented many things, yes, so I think this track is worth paying attention to, and thank you everyone. Thanks

It is because Professor Chen Jian said before that the infrastructure of Ethereum ecosystem feels a bit excessive. And this month is exactly the half-year anniversary of Cancun, and I wrote an article about the current status of L2 layer. It roughly said that the transaction volume did not prompt, and there were so many L2 layers that Ethereum's TV II was shelved, and also

The web3 operating system abstracts accounts and assets, providing users with a unified way of operation. We users do not need to worry about which chain these assets are circulating on. We just convert all assets into intended assets, and then we do not need to worry about how the assets are used. We just leave it to the intended nodes to do it. This is what it feels like to me. I am also a programmer. In the past, computers were operated in assembly language, which is a very old language. Programmers at that time had to consider using different instruction sets for different CPUs, when to save to disk, and how to consider memory usage. Now that we have an operating system, for example, after Microsoft launched WINDOWS 95, home computers have been brought into thousands of households.

Teacher Chaoren: In dappOS, it is like Alipay. You just deposit money into it and it will tell you how much the annualized return is. You can just buy it. Yes, and for developers, for WEB3 developers, I think for them, using intention assets to develop is purer than you. They don’t have to consider the differences between various chains, compatibility, etc. I think it will be a better experience for both users and developers.

bithappy: I spent the entire two years of 2021 and 2022 on BTC, and I didn’t go to other chains. A big reason was that I thought, why do I have to go to another chain? If I want to buy a coin, I have to go to another chain, which is very troublesome. This may be a problem that all newcomers will encounter. Although many of the people here are big guys or have been in the circle for a long time, for Binance, for Binance Square, Binance is a centralized exchange, right? So he opened this space in Binance Square. Many of the users they target are actually only trading and are relatively unfamiliar with the chain. In other words, the threshold problem that DappOS can solve can actually really allow some centralized trading users to understand WEB3 and the chain, which is very good. Then another question is that I like DappOS very much. Another point is that it supports enough chains and ecological projects.

Crypto Wei Tuo: The first demand of web3 is liquidity. We don’t want to sacrifice liquidity in exchange for future airdrops.

Crypto Wei Tuo: Well, what everyone just said is relatively smooth. For example, I enter from EPH, right? After I enter, it becomes intent. Then, after that, I can do analysis, and I can directly take it out and go to that, such as GM fork, such as Cairo ex, etc. I can go to this contract Taobao, right? That is, this, this, this, this, prevent me from this. Ets, this ... If we lose a little, the profit will only be a few percent, right? It is also within the acceptable range. Now that we have this thing, what problem does it actually solve?