What is UXLINK?

UXLINK is a Web3 social platform and infrastructure based on close-knit social relationships. It aims for large-scale adoption and aspires to become a social DEX (decentralized exchange) and a social infrastructure. Unlike traditional one-to-many relationships, UXLINK establishes two-way, friend-like social connections and facilitates real-time interactions through the UXGroup scenario. One of its key features is the encryption and standardization of real-world groups, transforming them into Web3 operational units.

The mission of UXLINK revolves around three key elements: social hub, gateway to everything, and community prosperity. Firstly, UXLINK aims to become the largest social platform and infrastructure, focusing on real-world two-way connections. Secondly, bridging Web3 and Web2 allows users and developers to discover, distribute, and trade encrypted assets in a unique social and group-oriented manner. Lastly, UXLINK fosters an inclusive, trustworthy, and rewarding community. Since its launch in April 2023, UXLINK has amassed 3.4 million registered users, created over 75,000 group chats, and reached 5.9 million users through these group chats.

UXLINK integrates Dapps into Telegram and other real-world social platforms, covering onboarding, graphical formation, group tools, and social Web3 interactions. Its innovation lies in encrypting and standardizing real-world groups, turning them into operational units for Web3. This positions groups at the core of Web3 applications, making them central to the Web3 experience. UXLINK employs an innovative dual-token (on-chain points and tokens) economic model to ensure simplicity, fairness, and efficiency. This strategic balance enhances user experience and expands the platform’s influence.

Team and Investors

The UXLINK team is diverse and professional, with a significant proportion of Chinese members. The team has a strong technical orientation; for example, CTO Abao Wu is a Wuhan University of Technology graduate. Including diverse talents injects robust technical strength and innovative spirit into UXLINK. Notably, UXLINK’s CEO and founder, Shuo Sun, was the founder and CEO of Enjoytalk, and has rich experience as an investment banker at China International Capital Corporation. This provides a solid foundation for UXLINK’s development strategy and capital operations.

Regarding financial backing, UXLINK has completed multiple financing rounds, with total funding exceeding $15 million. This achievement has garnered recognition and support from top-tier investment institutions and renowned individuals worldwide. The impressive lineup of investors includes SevenX Ventures, HashKey Capital, and OKX Ventures, among others.

Investors are distributed across North America, Asia, and the Middle East, encompassing leading crypto investment institutions, exchange-led funds, and public companies as strategic partners. These investors bring financial support, valuable industry resources, and experience to UXLINK.

UXLINK Tokenomics

UXLINK employs a dual-token economic model (on-chain points and tokens), including the community’s native utility token & points $UXUY (as PoW records) and the governance token $UXLINK. This points-plus-token model provides a framework for the governance and development of UXLINK’s community and ecosystem while maximizing transparency and fairness.

$UXUY is the reward system for developing the UXLINK community and ecosystem, entirely based on a transparent Proof of Link (POL) mechanism. $UXUY is not pre-minted; linkers can earn $UXUY by inviting others or contributing to the ecosystem. Linkers can be individuals or partners/developers. The $UXUY earned by users is stored in their EVM-compatible wallets. The earlier users create their social network, the more $UXUY they can earn.

Additionally, the soon-to-be-released $UXLINK token is designed for community governance and to derive benefits from UXLINK projects and products. Developers must pay $UXLINK to use UXDapps, protocols, and data. Users can also pay transaction and gas fees for Dapps and services using $UXLINK.

Challenges and Solutions of UXLINK

Challenges

1. Unclear Ownership of Social Data: In the centralized Web2 world, users generate vast data but benefit very little from it. This ownership gap hinders developers from creating innovative products and features and causes ownership conflicts between group leaders and members within social groups.

2. Trust Issues: Despite blockchain technology being designed to address trust issues, rug pull events still occur frequently. One contributing factor is the anonymity mechanism. Social graphs and interactions can enhance trust, as people exhibit more integrity and reputation in interpersonal interactions.

3. Financial Inequality: Globally, most people lack access to financial services and resources. According to the 2021 World Bank Global Financial Inclusion Report, over 20% of adults do not have a bank account, and other financial services have even higher barriers to entry.

Solutions

UXLINK proposes a trust-based social system to address the above issues. It ensures that social interactions and discussions (including those related to Web3 financial topics) seamlessly integrate into a deeply socialized experience, fostering trust and benefiting everyone.

Design Philosophy and Principles

1. User Sovereignty First: User sovereignty encompasses users owning and controlling their online identities, social connections, and social data, while protecting data privacy. UXLINK places user sovereignty as the top priority.

2. Integration with Real-World Connections: Real-world connections reflect an individual’s reputation, credibility, and values. UXLINK bridges a crucial gap in blockchain and token protocols through trust relationships.

3. Inclusivity for Users and Developers: Creating user-friendly products for both Web2 and Web3 environments and providing developers with open-source, easily integrable infrastructure to promote scalability.

Structure of UXLINK

UXLINK comprises three primary layers: the Application (Dapp) layer, the Protocol layer, and the Infrastructure layer.

Application Layer

The Application (Dapp) layer is crucial for UXLINK users to access core functionalities and services within Web3, including entry, identity, and group features.

Entry Layer

Through MPC (Multi-Party Computation) and abstract account wallets, users can seamlessly enter the Web3 world. This allows users to automatically register wallets on the EVM network upon launching an application, eliminating the hassle of private keys and mnemonic phrases, thereby increasing user conversion rates.

MPC (Multi-Party Computation): This cryptographic tool enables multiple participants to perform computations collectively without revealing their private inputs. Each participant inputs their private data into the computation process, but no participant can independently access the private inputs of others. Instead, they only obtain the computation result. For instance, on the UXLINK platform, users may want to compute sensitive data, such as social relationship graph analysis of their group. These users can collaboratively analyze data using MPC without disclosing individual social relationship information. Each user inputs their data into the MPC system, which then processes it and generates the result without leaking personal information.

Identity

Users can use DID/Profile (SBT) to create Web3 accounts through social applications like Telegram and WhatsApp, binding them with off-chain identities. UXLINK also leverages zero-knowledge proof technology to help users establish self-sovereign identities (SSI) and private social relationships.

DID: A universal decentralized identifier for establishing Web3 social circles, linking Web2 with Web3 through blockchain domains. With UXLINK.DID, users can create a blockchain-linked Web address similar to a URL and access the blockchain using Web2 social media accounts. It acts like an online ID, but is more secure, private, and blockchain-related.

For example, when using UXLINK, you can log in with traditional social accounts (like Telegram, and WhatsApp) and EOA wallets (MetaMask, TrustWallet) without registration. As the UXLINK protocol opens up, more third-party applications will integrate with the UXLINK account system, enabling seamless login connections.

Groups

Groups (UXGroup) are one of the core scenarios of UXLINK, including encrypted social groups, AI Groupkits, GGraph, GWallet, and GPass. Users can create group chats based on social graphs and earn rewards through viral growth while sharing and monetizing social relationship data. They can achieve true ownership by minting group IDs.

In the future, UXLINK will also offer AI assistant functionalities to provide a smoother social experience. Currently, UXLINK groups are built as Telegram plugins, avoiding redundant development and allowing users to participate through familiar platforms, thus reducing user conversion costs.

Source: UXLINK

Protocol Layer

The Protocol layer of UXLINK primarily caters to developers. Web3 developers can use the APIs provided by UXLINK to efficiently manage user social identities and social relationship data services. This enables the creation of real commercial value by uncovering the true value of the data, thereby completing a commercial loop.

Infrastructure Layer

The Infrastructure layer of UXLINK combines EVM (Ethereum Virtual Machine), IPFS file system, and CLOUD computing technology to provide stable and efficient services. The key features and functions of the system include:

1. Support for Multiple EVM Chains

UXLINK supports multiple EVM-compatible blockchain networks, including Ethereum Mainnet, Arbitrum L2 Chain, BNB Chain, Polygon, and Base Chain. This interoperability with various blockchains enhances the system’s flexibility and scalability.

1. Decentralized Storage and Centralized Data Indexing

• Decentralized Storage: UXLINK uses IPFS to offer decentralized storage services, supporting the on-chain storage of identity and relationship data. This increases data security and reliability.

• Centralized Data Indexing: UXLINK also provides centralized data indexing services to handle complex business scenario data off-chain. This improves the speed and efficiency of data retrieval, meeting users’ needs for quick access.

UXLINK’s Gameplay

Link-to-earn

“Link-to-earn” is the first commercial scenario introduced by UXLink. It aims to provide financial rewards to users by integrating social networks and transactions. Users simply need to share the invitation link of the UXLink Telegram community. By inviting others to join and activating the registration bot, users can receive an Arbitrum on-chain wallet and $UXUY point rewards. Additionally, successful invitations will earn the inviter more points.

Users can earn extra points by completing tasks, minting SBTs (Social Bound Tokens) associated with social relationships (WEB3 accounts), and building their communities. Points are tied to UXLink’s airdrop and offer more rewards through seasonal activities. Link-to-earn enables every user to monetize their social network, become a key opinion leader (KOL), and seamlessly transition Web2 users into the Web3 world.

Source: Telegram

Groups

Groups are the core feature of UXLink, currently implemented based on Telegram groups. Groups leverage individual social graphs to transform personal social networks into real-time, dynamic platforms for interaction and communication. Moreover, UXLink groups can generate new social graphs, evolving from closed communication spaces into platforms that continuously expand and deepen social connections.

For example, user Xiao Ming has a social network of 200 people, including relatives, friends, classmates, and colleagues. Through UXLink, Xiao Ming can integrate these 200 people into a single group. In this group, Xiao Ming can share daily moments, such as party photos and travel experiences, as well as engage in more meaningful interactions, such as crowdfunding for a relative’s medical expenses, organizing class reunions, or coordinating work projects. This real-time, dynamic interaction makes Xiao Ming’s social network more active and valuable.

Groups also help expand Xiao Ming’s social network. For instance, if classmates in the group discuss an investment project, they might invite their friends to join the discussion, thereby broadening Xiao Ming’s social circle. These discussions can range from daily trivialities to professional matters, covering various aspects of life.

The group owner plays a central role within a group. Suppose Xiao Ming is the group owner; he can organize and guide discussions within the group, making information dissemination more efficient. UXLink already hosts over 70,000 similar groups, some of which are very active. This not only facilitates rapid information flow but also offers new perspectives for marketing.

From a marketing perspective, if Xiao Ming is interested in a new product but is skeptical, he can initiate a discussion in the group to get his friends’ opinions. Recommendations from familiar people in the group are more trustworthy than advertisements. Continuous interaction and discussion within the group can help persuade Xiao Ming if there are any doubts. For complex products or concepts, groups provide an optimal venue for real-time problem-solving. In this way, UXLink groups not only promote active use of social graphs but also offer a platform for building trust, exchanging information, and solving problems.

In comparison, FriendTech’s Room concept, although similar to UXLink’s groups, has a strong financial attribute. Users mainly buy other users’ keys for speculation rather than for participating in discussions or building social connections. This requires FriendTech to maintain continuous user growth to keep the system running. On the other hand, UXLink focuses on interpersonal communication and influence, more akin to a class or small business, based on real value rather than speculation, bringing more substantial user and third-party value. This highlights the immense potential

Source: UXLINK

Revenue Model

Fundamentally, users (not UXLINK) own the network and related data, and therefore, users own the revenues generated on UXLINK. The UXLINK model comprises two primary sources:

User Side

• Commission Fees: UXLINK charges a commission fee on social interaction Dapps related to Web3 financial themes.
• Gas Fees: These involve data owners and data demanders. UXLINK collects a fee, known as “gas” for data transmission. Additionally, if Dapps generate revenue within the network, UXLINK takes a percentage of the earnings.

Developer Side

• Service Fees: Partners (Dapp developers) pay service fees for UXDapps, protocols, and data usage.
• Product Sales: Marketing and sales fees may apply if partners sell products to UXLINK users (such as NFTs or game tools).

UXLINK receives tokens including $UXLINK and other cryptocurrencies. The collected fees are used for community development and token management. The project reserves the right to use the generated profits to buy back tokens from both public and private markets to maximize community benefits.

Future Outlook

Roadmap

The future roadmap for UXLINK includes various aspects such as user growth, token issuance, and technological implementation.

User Growth: UXLINK plans to reach 5 million users by the first half of 2024 (2024 H1) and 10 million by the second half of 2024 (2024 H2).

Token Issuance: The UXLINK token ($UXLINK) will continue to be distributed through airdrops

Source: UXLINK

Prospects

Overall, UXLINK, as a Web3 social platform based on familiar social relationships, showcases an exciting future. With a continuously growing user base, UXLINK is poised to dominate the social networking sector, offering users a safer, more private, and valuable social experience. Through ongoing improvements and innovations, UXLINK will further expand its user base, integrate more Web2 social media channels, and attract more developers to join and create new Dapps. This will provide users with richer social experiences and more business opportunities.