UXLINK focuses on the decentralized mapping of real-world social relationships in the Web3 space, aiming to explore the value of social data, unleash the liquidity of social data, and explore the specific applications of social data in financial scenarios.

Written by: 1912212.eth, Foresight News

The importance of social applications cannot be overstated. In the history of the Internet, the emergence and popularity of social products have played a significant role. Taking China as an example, whether it's WeChat for familiar social interactions or Tantan and Momo for meeting strangers, once they break through, they often dominate the market. Especially in familiar social interactions, after Mi Chat was defeated by WeChat, it was unable to compete with it. WeChat, holding the top position in familiar social interactions, still has no competitors over a decade later.

Another interesting historical fact is that despite Jack Ma's efforts to build Alipay over the years, it was only able to attract users with subsidies and promotional activities. WeChat Pay, on the other hand, easily surpassed Alipay by leveraging the WeChat platform, becoming a highly sticky payment function. The reason is self-evident: after social products have established their moat, it becomes relatively simple to develop other utility and gaming tools. Of course, the most important reason is the power of familiar social interactions.

You may not click on advertisements, but you are likely to take a look if a friend shares something. You may find it difficult to distinguish among various assets, but you may carefully study a friend's recommendation before deciding whether to invest. This is due to the influence of cultural genes. In a society where people are familiar with each other, the cost of trust is extremely high, and the friction of transactions is also significant.

Therefore, what will familiar social interactions look like in the Web3 era after the era of Web2? The encryption industry is still exploring, but a social platform worth paying attention to seems to be emerging: UXLINK. According to its official website, UXLINK has a total user base of over 5.44 million and nearly 100,000 groups.

What is UXLINK

UXLINK focuses on the decentralized mapping of real-world social relationships in the Web3 space, aiming to explore the value of social data, unleash the liquidity of social data, and explore the specific applications of social data in financial scenarios. In March of this year, UXLINK completed a new round of financing led by OKX Venture, bringing its total funding to $9 million.

It is not common for the social sector to reach nearly tens of millions of dollars in financing. We have seen many institutions making large investments in L1, L2, AI, and gaming sectors, but they have been quite cautious in the social sector. The reasons behind this are very complex, but ultimately it may be because they do not want to be the first to eat the crab. UXLINK aims to be a pioneer in social infrastructure, exploring the chemical reactions that occur when social interactions are combined with data and assets.

In addition, to expand and strengthen familiar social interactions, it is extremely important to create a stronger "two-way" interactive relationship. If it is only a one-way relationship like Weibo, the user connections are still relatively weak. Therefore, what UXLINK aims to do is equivalent to Web3 WeChat + data assets.

Product

In the social track, whether it's products or protocols, simpler is always better. For the product end targeted at users, it must be as simple as WeChat, without the need for complex knowledge of private keys, mnemonic phrases, or various Web3 professional terms. Fortunately, UXLINK has done quite well in this regard, for example, it supports various wallets and even Web2 products for login, 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 has been established, with the infrastructure layer being the most important, mainly providing technical solutions to support large-scale adoption. UXLINK adopts a hybrid scalable architecture (EVM+IPFS+cloud), storing identity and relationship data on the chain, while processing complex business scenario data off-chain.

The protocol layer provides tools for developers, offering APIs customized for on-chain and off-chain systems to manage user social identities and relationship data. The basic application layer provides basic product services for ecosystem applications and group functions.

As is well known, to utilize social data, more big data analysis is needed for behavioral analysis. UXLINK has developed the AWC protocol, which focuses on handling the relationship between identity IDs and assets, and uses AI models for recommendations and analysis. Data is hailed as the oil of the AI era, and based on extensive content analysis, users can more easily find information and assets that suit them.

Token

Unlike most social protocol token models, UXLINK adopts a dual-token model, with two different uses: the utility token UXUX and the governance token UXLINK. UXUX is mainly used for community and ecosystem incentives, with no presale, and ordinary users can earn UXUX through methods such as inviting friends. UXLINK is used for community governance, with a total supply of 1 billion tokens. It is worth mentioning that the project team has been very meticulous in token distribution, with as much as 65% of the tokens allocated to the community.

Asset Trading in a High-Trust Model

As mentioned earlier, in a high-trust model, one of the easiest ways to interact is through asset trading. "Each generation has its own Ponzi scheme." If a social application in a high-trust model wants to quickly break through, in addition to the familiar interaction effect, the best way is to attach financial asset attributes. By continuously strengthening and spreading the wealth effect, it can continuously reach user groups.

In the past, many protocols or exchanges, in order to attract users and create a wealth effect, often launched high-quality projects through Launchpad, attracting traffic and attention through substantial returns.

Aside from purely creating a wealth effect, an integrated product suite is also crucial. For example, tools that allow direct trading within groups are quite popular. During the peak of the MEME craze on Solana, the grab bot gained popularity due to its speed advantage. With more useful and convenient tools, combined with the information dissemination from familiar social interactions, the combination of community and assets may unleash tremendous power.

For example, various NFT sales and DAO protocol fundraisers in the last bull market, as well as the currently popular MEME, all open up endless possibilities. Those who enter early and purchase new assets have a greater chance of capturing huge profits. Perhaps the future's wealth code is hidden within, waiting to be unleashed.

UXLINK is actively laying out its IDO and product suite development, and it is worth paying attention to its progress.

Airdrops

The market underestimates the enthusiasm of users to participate in airdrops. Recently, a batch of restaking protocol airdrops has sparked huge controversy due to their fairness. For project teams, purely looking at TVL, distributing tokens to large holders weakens TVL, while devaluing it makes it cheaper for exploiters. Effectively conducting airdrops has always been a challenge for project teams.

In light of this, more and more project teams are starting to use a points-based model. However, as time goes on, more and more users realize that it is just endless PUA, requiring significant time and energy costs.

UXLINK has initiated the distribution of the "IN UXLINK WE TRUST" series of NFTs as airdrop vouchers starting on May 3. Based on users' community contributions, on-chain interactions, and asset situations, they are divided into four levels: MOON, TRUST, FRENS, and LINK, corresponding to different rights and the amount of UXLINK token airdrops. The higher the level, the greater the amount of airdrops they own.

Large-scale airdrops, on the day of its token listing, are more likely to spark larger discussions and enthusiasm, leading to a successful cold start. Of course, the audience is most concerned about its price performance forecast. If the price is disappointing, it often leads to community attrition and a significant decrease in enthusiasm.

Valuation

Amid the various valuation methods, how can UXLINK be objectively valued? It may be helpful to first look at the performance of its competitors. Take CyberConnect, for example, which emerged in the last bull market, completed a financing of tens of millions of dollars, and has endorsements from well-known VCs such as Multicoin. However, its price trend does not match its strong background.

As of now, according to data from Dapprader, CyberConnect has 10,000 7-day UAW (Unique Active Wallet addresses), a current market value of $180 million, and a fully diluted valuation of $870 million.

As a comparison, influenced by factors such as airdrop activities, UXLINK's 7-day UAW has reached as high as 400,000, and the trading volume is continuously rising from the bottom. The number of users on Telegram (TG) and Discord may not be very significant, but it can be considered as a factor for community activity.

We focus on the most active and attention-grabbing information circle in the crypto community, which is Twitter. UXLINK has slightly more followers than CyberConnect, but its dynamic activity is relatively low.

The recently resurging social protocol Friend.tech, with its V2 version and recent airdrop, has attracted a lot of attention. Its new features such as the paid group Club, unique fee mechanism design, and nearly 600% LP, have made its token price performance quite impressive, rising from around $1 to above $3. The market valuation is currently around $250 million. Another social protocol, Fracster, endorsed by Paradigm, reached a staggering valuation of $1 billion when it completed financing at the end of March this year, which is quite exaggerated.

In a horizontal comparison, the market value of UXLINK may be lower than that of Fracster and Friend.tech, but it is likely to be on par with or higher than CyberConnect. Under the market philosophy of "speculating on new, not old," investors tend to lean towards purchasing new tokens. The renowned trader GCR once said that new tokens are always full of hope.

Currently, on the product side, especially with the recent 2049 event, UXLINK's ecosystem partners are increasing rapidly, especially the rapid increase in paid partners, which has led to a sharp increase in UXLINK's revenue, creating relatively optimistic expectations for its valuation.

If expectations are met, a valuation of $200 million and a fully diluted valuation (FDV) of $1 billion after TGE (Token Generation Event) is entirely possible. With a total supply of 1 billion UXLINK tokens, assuming an initial circulation of 10%, the price could reach $1 according to FDV calculations. If valued at $200 million, the price could reach $2 in an optimistic scenario.

Of course, the initial token price is influenced by various factors, such as the brand's visibility (Binance, Coinbase, Upbit), initial liquidity, and the market cycle it is in.

The current market is just beginning to warm up. In the last bull market, many altcoins saw a drop of around 75% during the Bitcoin halving year. If history repeats itself, the bottom may have already been reached for these altcoins. Even some AI projects like WLD and ARKM have rebounded rapidly.

Looking at the market cap of USDT, even though the market faced a severe test last month, its market cap continues to climb, even reaching a historic high.

Funds are still flowing in continuously. The market generally expects the Federal Reserve to cut interest rates twice in the second half of the year. Smart money tends to run ahead, so as long as BTC does not experience a major pullback, the future market is still worth looking forward to. Coupled with the recent surge in the social track sparked by Friend.tech, there may be a new wave of SocialFi speculation. As one of the new elite contenders, UXLINK may capture a huge upside dividend in the market.

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