Author: Zoey, MT Capital
In the current wave of social networking, Telegram group communication has become an important part of people’s daily lives. Notcoin and UXLINK are excellent products that have achieved rapid user growth through Telegram. Since its launch on January 1, 2024, Notcoin has quickly amassed over 30 million users and 6 million Telegram group members through lightweight Tap-to-Earn mining and viral spread. In contrast, UXLINK, based on familiar social connections and viral sharing, has attracted a large number of participants through Link-to-Earn, currently boasting 4.6 million on-chain token holders and 1.6 million NFT holders.
Since its inception, UXLINK has acquired 8.2 million registered users, established nearly 100,000 WEB3 groups, and reached over 8 million users through these groups. Throughout May, UXLINK has consistently topped DappRadar’s social DAPP rankings and remained in the top three on the overall rankings.
Zoey from MT Capital stated, “We are most optimistic about UXLINK’s dual business positioning, offering rich features and applications for C-end users as well as powerful services and support for B-end developers. While traditional SocialFi platforms rely on the scale effect of C-end users, UXLINK has achieved broader coverage and more stable revenue through its dual market positioning. The expansion of C-end users strengthens the entire ecosystem, while B-end collaborations enable the monetization of traffic value and support community growth, increasing user stickiness – being a platform for users as well as infrastructure for developers.
From MT Capital’s strategic perspective, we believe that the key to the Mass Adoption track lies in breaking the limitations of a single market and establishing multi-dimensional, multi-level user and revenue structures. UXLINK is not just a social platform, but also a core node of an ecosystem. By integrating various functions such as social, trading, and development into one platform, UXLINK can effectively attract and retain users, providing 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 focus on building a Social-Dex, expanding more functional applications, and creating more positive value. Currently, UXLINK’s monthly revenue can cover project expenses, leading to a virtuous cycle and further reflection of the value of the UXLINK Token. We believe that through continuous innovation and strategic planning, UXLINK will set a new benchmark in the SocialFi field and drive 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 paths, product and business model sustainability, user data, and user profiles.
I. Path to Mass Adoption
So far, no Mass Adoption projects have emerged in this bull market, making it a common topic in the web3 community. UXLINK’s path to Mass Adoption includes:
1. Leveraging existing platform traffic: Utilizing Telegram’s vast user base to quickly acquire initial users and replicate real-world social relationships online.
2. Link to earn: Users earn UXUY points by sharing an invite link to join UXLINK’s TG community, leveraging familiar social relationships to expand the user base rapidly.
3. Involving external developers: Providing incentives for developers to continue developing quality applications using $UXLINK to pay for protocol, data, and Dapp usage fees.
4. Ecological cooperation and expansion: Collaborating with partners in fields like DeFi, AI, and GameFi to distribute UXLINK points and NFTs and increase influence.
5. User incentives and retention: Implementing tiered operations and long-term incentives to maintain user activity and engagement through mining opportunities.
6. Diversified token use cases and fair distribution: $UXLINK has clear use cases in protocol usage, transaction fees, airdrops, and investment opportunities, creating a healthy deflationary model.
7. Data-driven optimization: Making data-driven decisions to optimize user experience and incentive mechanisms, ensuring the platform’s development aligns with user needs and market trends.
Similarly rooted in Telegram, Notcoin utilizes lightweight Tap-to-Earn mining and viral spread, allowing many new users to smoothly enter Web3 through Telegram. Since its launch on January 1, 2024, Notcoin has quickly become one of the most popular channels on Telegram, with over 30 million participants and 6 million Telegram group members, making it a darling of traffic.
According to Dune Analytics, despite not having TGE yet, UXLINK currently has around 4.6 million on-chain token holders and over 1.6 million NFT holders, with these numbers continuing to grow rapidly. In comparison to Notcoin, while UXLINK’s current WEB2 traffic data may lag behind Notcoin, its user conversion rate is far ahead, with UXLINK surpassing Notcoin in terms of on-chain holders and demonstrating stronger user originality and interaction depth.
It is evident that UXLINK’s conversion rate from off-chain to on-chain is considerable, with deep user interactions. UXLINK is actively collaborating with projects and conducting market education work, positioning itself to potentially become the next Mass Adoption product with the launch of more applications.
II. Business Model – Balancing Both Ends, Creating a Positive Flywheel
In terms of the business model, UXLINK serves both B-end and C-end users.
C-end users mainly engage in social interactions in group settings, discover, participate, and invest/trade in crypto assets. Most functions are free for C-end users, with a 1-3% transaction fee for trading.
B-end developers utilize UXLINK’s Dapps and RWS social protocols to develop and grow social relationships and data. Offering different trading scenarios and products such as Airdrop, Pre-market, MEMECOIN, UXLINK provides a commission for these activities.
UXLINK charges B-end developers fees for application, protocol, and data usage, priced in Tokens, distributing 85-90% to community users while collecting a 10-15% infrastructure usage fee.
Revenue Situation
UXLINK has been generating revenue since 2023 and has been building its social ecosystem since March 2024 to benefit the community and developers more. Currently, UXLINK’s monthly revenue (calculated in Tokens) is able to cover project expenses.
III. User Data and User Profiles
Since its launch in late April 2023, UXLINK has acquired 8.2 million registered users, built nearly 100,000 WEB3 groups, and reached over 8 million users through these group chats. Throughout May, UXLINK has consistently ranked first in DappRadar’s social DAPP daily, weekly, and monthly rankings and remained in the top three on the overall rankings.
According to Coin 98’s data, UXLINK ranks first in the socialfi track for the number of active unique addresses in the past 30 days, indicating a significant lead over the second-ranking project.
In terms of operations, UXLINK employs user segmentation and strategies to create accurate user profiles, with on-chain interactions primarily falling into two categories:
1. Identity/social-related interactions: Includes SBT, Group, Social Graph, learning check-ins, and invitations.
2. Asset/trading-related interactions: Includes NFTs, airdrops, SWAP, Pre-Market, etc.
The issuance of NFTs also helps identify user quality, with the threshold for users to mint NFTs based on their contributions to the community, on-chain interactions, and asset values. Among these:
(1) LINK NFT holders number 1,464,755, representing highly active users and the largest NFT holder group in the world.
(2) FRENS NFT holders number 328,696, representing an active social group and a driving force for Web3 projects’ growth.
(3) TRUST NFT holders number 4,374, representing KOLs and group leaders/group leaders within the UXLINK ecosystem.
(4) MOON NFT holders number 353, representing opinion leaders and asset whales in the WEB3 ecosystem.
Conclusion
As an innovative SocialFi platform, UXLINK has 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 rapidly acquiring users from Telegram’s traffic pool to achieving user growth through the Link-to-Earn mechanism and introducing external developers and extensive ecosystem collaborations, UXLINK has shown tremendous potential on the path to Mass Adoption.
Balancing C-end users and B-end developers in its business model, UXLINK has built a robust ecosystem through diversified token use cases and fair incentives. UXLINK has not only successfully converted many Web2 users but also maintained its competitive edge and user stickiness through continuous data-driven optimization and innovation.
In the future, UXLINK will continue to focus on building a Social-Dex and introducing a Social Liquidity Layer for developers to create more positive value. With its monthly revenue already covering project expenses and forming a virtuous cycle, the value of UXLINK-related assets will be further reflected. Through continuous innovation and strategic planning, UXLINK aims to set a new benchmark in the SocialFi field and drive the development and transformation of the entire industry, potentially becoming a model product for future Mass Adoption.
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
MT Capital
MT Capital is a global investment institution managed by a team of seasoned investors, focusing on investing in innovative Web3 projects worldwide, with a presence in the United States, Hong Kong, Dubai, and Singapore. Our main investment areas include: 1) Large-scale adoption: decentralized social platforms, games, applications, and DEPIN, key drivers of Web3 technology to a broad user base; 2) Cryptographic native infrastructure: we focus on investing in public chains, protocols, and other infrastructure supporting and enhancing the ecosystem, as well as native DeFi solutions. Additionally, our team has years of experience in secondary trading.
Website: https://mt.capital/
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