Interview with dappOS: A Binance-invested intent-centric program explains to you what "Intents" is?
Guest Introduction and Project Overview
Isabella: Hello everyone, I’m Isabella, the co-founder of dappOS. dappOS is an intent execution network that specifically provides infrastructure for users to directly achieve their intended outcomes without the need to manually perform tedious intermediate actions. The process is managed by nodes within the dappOS network.
Our project was established in 2022 and was selected for the Binance Labs incubator in the same year, receiving investment support from Binance Labs. This year, we also completed our latest round of funding, an Series A led by Polychain Capital. Currently, our team consists of approximately 40 members scattered around the world, most of whom are technical developers.
Understanding the Concept of “Intent”
Isabella: That’s a great question, as it touches on the core of our discussion — the definition of “intent.” In our view, intent primarily refers to the end result that a user wants to achieve. Users are willing to pay a certain fee to obtain this clear outcome. Associated with this is another important concept — “intent-centric”. This concept means that when we design interactions for Web3 products, we want users to be able to directly achieve their intents without having to worry about the specific execution process or steps.
Let me illustrate the concept of intent and intent-centric interactions with a simple analogy. Suppose I’m sitting in a car and I want to go somewhere — that’s my intent. In traditional interactions, I need to navigate, shift gears, accelerate, brake, turn the steering wheel, and even use the turn signal myself. However, an intent-centric approach is different. I just need to tell the driver where I want to go, and the driver takes care of driving. As for which route he takes and how he operates the vehicle, I don’t need to worry about it. This is what we are doing now — building a foundational infrastructure that helps users achieve their intents without having to handle complex intermediate operations themselves.
Our vision is to become the operating system like “Windows” of the Web3 ecosystem. Our core product is called Intent OS, an intent operating system that allows users to manage their assets and interact easily and conveniently with various DApps across multiple blockchains. Supporting all this is our intent execution network. In Intent OS, every task submitted by users is transformed into an intent and submitted to the intent execution network. The network has many professional service providers who take care of executing the users’ tasks, and the users don’t need to worry about these specific execution details.
If a service provider fails to successfully execute a task, users can receive compensation from the funds staked by the service provider. This method not only allows users to interact easily and efficiently with Web3 applications but also ensures security. This is what we understand a Web3 operating system should offer in terms of functionality and potential. We are continuously expanding our ecosystem and optimizing our products to provide the best experience for our users.
Intent Sector Scope and Comparison with Chain Abstraction
Isabella: The broad scope of the intent sector indicates a strong and diverse market demand for this field, leading to various interpretations of the sector. Currently, the discussions tend to focus on two concepts: “intent-centric” and “chain abstraction.” I’d like to explain these concepts further.
First, an intent-centric approach means users can achieve their desired outcomes in a straightforward manner without needing to personally execute complex steps such as transfers, cross-chain operations, or computations. These tasks are handled by professional third parties. Thus, intent-centric is a philosophy that not only simplifies user operations but also focuses on enhancing efficiency, including reducing costs and increasing speed, as these are often integral parts of user intentions.
On the other hand, chain abstraction is a specific adjective used to describe situations where users do not need to worry about chain-related details like gas fees and cross-chain operations. We see “chain abstraction” to describe blockchains, accounts, and DApps; these all fall under the umbrella of chain abstraction. Under our intent-centric product definition, chain abstraction is inherently included because our product design itself aims to shield users from blockchain details. However, intent-centric goes beyond this, further assisting users in reducing costs and improving operational efficiency.
In essence, we view the concept of intent-centric as broader, encompassing chain abstraction and more comprehensively. Within the intent sector, projects can be broadly categorized into two types: one focuses on intent solutions for specific scenarios, like cross-chain protocols such as Across Protocol or decentralized exchange solutions like CowSwap. These projects concentrate on intent solutions for particular scenarios. The other type is a general intent infrastructure aiming to enhance the overall operational efficiency of Web3 and lower barriers to entry.
dappOS belongs to the second category — a general intent-centric infrastructure. Compared to other intent-centric infrastructure projects, we have advantages in certain key areas. Previous industry discussions on intent-centric protocols often required service providers to deconstruct on-chain steps, limiting their ability to offer innovative solutions that users couldn’t execute themselves. Consequently, compared to individual user execution, service providers often lacked significant advantages in speed and cost, sometimes even disadvantages, failing to meet users’ complete needs fully.
When designing the dappOS intent execution network, we chose to forego deconstructing service providers’ execution processes. We focus on the ultimate results users wish to achieve. This approach gives service providers greater room to design solutions, enabling them to find the most optimal and efficient execution paths over a broader range. The competition among service providers also allows users to enjoy lower execution costs and faster speeds.
Moreover, dappOS also benefits from scale and network effects. Whether it’s the intent execution network or the Web3 operating system, as the scale grows, more projects and service providers will join our ecosystem, allowing users in dappOS to perform more operations faster and at lower costs. This positive feedback will encourage more projects to collaborate with us.
Currently, we also see other intent-centric architecture projects receiving funding. However, from our observations, these projects are mostly still in the conceptual stage and some distance from actual product deployment. dappOS, in contrast, has not only launched its product but also established a significant ecosystem. As time progresses, we are confident in maintaining our lead, and this advantage is expected to become increasingly apparent.
Intent Assets vs Traditional Yield-bearing Instruments like LRT
Isabella: Comparing dappOS intent assets to Yu’e Bao is quite apt. Let me first explain what intent assets are. Intent assets are designed to be used seamlessly on the blockchain just like native assets, while also allowing users to earn returns under decentralized and non-custodial conditions. For example, if a user holds 1,000 Intent USD, they can directly use these assets on the platform for activities such as opening contracts on GMX. Unlike other interest-bearing assets, users don’t need to go through redemption or complicated steps like cross-chain operations. If the user has no immediate use for the assets, they can also enjoy an interest rate similar to an annual yield of over 10%.
With many traditional yield-bearing assets like LRT, users typically have to redeem these assets to use them. This process often involves waiting periods and sometimes high slippage, which can be inconvenient. Our intent assets, however, do not have these issues. They allow users to use these assets directly on the blockchain without needing to redeem them.
The market’s comparison of our product to Yu’e Bao is natural because our intent assets indeed offer similar advantages to some industry’s current demand deposit products. Although ordinary money market funds also provide immediate returns, funds deposited into such accounts cannot be immediately used for spending or transferring without redemption first. Redemption might require waiting, and additional transfer operations might be needed after redemption. In Yu’e Bao, a well-known advantage is that users not only earn returns from the money market fund but can also use the funds in Yu’e Bao for payments or transfers at any time. You simply scan a QR code, and the money in Yu’e Bao is available for payment. This user experience is much smoother compared to some traditional demand deposit financial products.
Our intent assets, like the funds in Yu’e Bao, not only generate returns on the blockchain but can also be used seamlessly just like native assets. Users can use intent assets at any time on the blockchain for various transactions, as conveniently as using money from a bank card.
Another point I’d like to emphasize is that intent assets are fundamentally decentralized and non-custodial. Their security is guaranteed by decentralized blockchain contracts. The underlying assets of intent assets fundamentally act as withdrawal certificates. Users can freely mint or redeem them using the contracts without needing permission from dappOS. This means users can freely enter and exit without worrying about any mechanisms we might put in place that could hinder redemption.
Moreover, this design has another advantage: even if a single underlying yield-generating asset encounters problems, the impact on users would be very minimal because our intent assets are composed of multiple underlying assets, avoiding a single point of failure. Additionally, the underlying assets we currently use are major projects, such as those listed on Binance or with a TVL of over a billion dollars like Pendle, BounceBit, and EtherFi, which significantly enhances the safety and reliability of our intent assets.
Using Intent Assets in DeFi Like Native Assets
Isabella: Absolutely, intent assets can be used anytime in various scenarios, and this capability is guaranteed by our dappOS intent execution network. Let me explain in more detail: when users want to redeem or use intent assets, what actually happens behind the scenes is that the user submits a request to the intent execution network. Various service providers then respond to this request and perform the necessary actions, competing among themselves to ensure that the user’s needs are met in the most efficient and cost-effective manner.
The use of intent assets is not limited to just direct transfers; it extends to decentralized exchanges (DEXs) and interactions with various platforms. For example, if you want to open a contract on GMX, you can directly enter GMX through our Intent OS and operate using your intent assets. dappOS automatically sends your request to the intent execution network, where service providers freely bid to take on the task and then carry out your operation.
These professional service providers often have better execution methods than average individual users. For instance, in scenarios like LRT redemption, a professional service provider might use low-cost loans to front the funds needed for a user’s redemption, then carry out the redemption directly with the project as a major stakeholder. This method can avoid slippage losses due to insufficient liquidity on the chain.
Therefore, the dappOS intent execution network essentially empowers individual users with institutional-level professional execution capabilities. Through this approach, all users can enjoy a superior experience using intent assets, with enhanced operational efficiency and cost control.
Future Expansion of Intent Assets in dappOS
Isabella: When considering introducing new intent assets, we primarily evaluate two aspects.
Firstly, we assess the acceptance and application scenarios of the asset to ensure they are broad enough. We prefer assets that are widely accepted among users and have practical applications across various scenarios. This allows users to use these assets seamlessly across multiple blockchain environments, aligning with the philosophy of our intent execution network.
Secondly, we examine whether the asset is supported by well-known major projects and whether its yield is sufficiently attractive. An asset that offers a high yield and is backed by reliable, reputable projects naturally meets our criteria for introducing new intent assets.
Additionally, tokens from some public blockchains are also under our consideration due to their extensive application scenarios and significant market demand. These tokens are likely candidates for the next category of assets we might introduce.
Results of the dappOS Promotion with Binance Web3 Wallet and Future Marketing Plans
Isabella: I’m delighted to report on our achievements. We believe the promotional campaign with Binance Web3 Wallet was very successful and we are grateful for the support we received. To be transparent, this campaign attracted over 200,000 new users to try our product. Although some users come and go quickly just for the rewards, it’s encouraging to see that, on average, these users retained about $50 in their accounts two weeks after completing the activities — not only was there no attrition, there was actually growth. This is undoubtedly a positive sign for us, proving that our product genuinely enhances the user experience.
Additionally, this event was part of our continued efforts to deepen our collaboration within the Binance ecosystem, including partnerships with Binance Web3 Wallet, BNB Chain, and other projects. The Binance ecosystem is undeniably a significant force in the industry, and we will continue to advance our deep collaboration with Binance and its ecosystem. Moreover, this campaign not only raised the profile of dappOS but also caught the attention of many industry media and key opinion leaders (KOLs) who studied and evaluated our work from various angles, providing us with valuable advice and feedback.
Looking ahead, our marketing plans are divided into two main aspects. First, we will continue to engage in joint interaction activities with various well-known DApp projects through our Rocket Campaign series. These activities guide users to interact with dappOS and our partner projects, with rewards distributed directly at the end of the event. Additionally, we will regularly launch major promotional activities, especially when new products are launched, such as the recent introduction of intent assets. In the future, we also plan to launch an intent exchange, which will optimize intent-based transactions that are currently popular on-chain to provide a smoother experience for users. Everyone can look forward to these developments.
dappOS Roadmap and Future Vision for Intent Exchange and Intent Network
Isabella: Our future planning currently focuses on two core aspects.
First, we will concentrate on proactive optimization and expansion of our products, aiming to meet users’ needs more deeply and comprehensively. We will continue to explore demands in the current market that are not yet fully satisfied and introduce revolutionary products based on the intent execution network. For example, the intent assets we have launched and the upcoming intent exchange are significant attempts in this direction. Through these products, we hope to gradually unlock the technical potential of the dappOS intent infrastructure, thereby truly transforming user experiences and bringing practical and meaningful value to the entire industry.
Secondly, we will strategically expand our ecosystem cooperation and user base to build strong scale effects and network effects. We plan to continuously attract more top-tier projects to join our ecosystem, while rapidly expanding our user base, making our intent operating system a critical cornerstone in the Web3 world. In our vision, the ultimate goal of the intent network is to become the “Windows” of the Web3 world. We hope that in the future, every user’s operations and interactions in Web3 will be inseparable from dappOS, enabling them to enjoy the convenience and efficiency it offers.
Vision and Initial Intent
Isabella: I’d like to add why I originally chose this direction. Before this, I worked at a tech giant in Silicon Valley and served as a software engineer at Google. I was involved in products like Google Search, Google Maps, Gmail, and YouTube, which all have billions of users worldwide. Working on these projects, I realized that for a technology or product to truly create significant value, it must be able to provide convenience and an excellent user experience to a vast number of users. I believe this is the mission of mature technological development.
As a technologist, I’ve always wanted to embrace this mission as my life’s goal. In the world of Web3, I aim to bring the same level of convenience and an exceptionally friendly, smooth user experience as seen in Web2. I want to make Web3 more than just a niche or a small circle; it should serve a broader audience.
I firmly believe that a technology only truly thrives when it creates real value and practical convenience for users. This conviction is why I continue to strive in this direction. Fortunately, my team is also working towards this goal and mission. Therefore, we hope everyone can pay more attention to us. In the future, we will launch more products and host more events, hoping to bring the next level of user experience to the industry together.
Follow us
Twitter: https://twitter.com/WuBlockchain
Telegram: https://t.me/wublockchainenglish
Comments
Post a Comment