Author: Zoey, MT Capital
Introduction:
In the current wave of social networking, Telegram group communication is an essential part of people’s daily lives. Notcoin and UXLINK are outstanding 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 marketing, has attracted a large number of participants through Link-to-Earn, with 4.6 million on-chain token holders and 1.6 million NFT holders.
Since its inception, UXLINK has grown to 8.2 million registered users, establishing nearly 100,000 WEB3 groups and reaching over 80 million users through these groups. Throughout May, UXLINK consistently ranked at the top of DappRadar’s social DAPP daily, weekly, and monthly rankings, securing a spot in the top three of the overall rankings.
Zoey from MT Capital states, “We are most optimistic about UXLINK’s dual commercial positioning, providing rich features and applications for C-end users and powerful services and support for B-end developers. While traditional SocialFi platforms rely on the scale effect of C-end users, UXLINK’s dual-market positioning has enabled broader coverage and more stable revenue. The expansion of C-end users strengthens the entire ecosystem, while B-end collaborations monetize traffic value, fuel community growth, and increase user stickiness – serving as both a user platform and developer infrastructure.”
From MT Capital’s strategic perspective, we believe the key to the Mass Adoption race lies in breaking the limits of a single market and creating a multi-dimensional, multi-tiered user and revenue structure. UXLINK is not just a social platform but also the 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 while providing developers with a stable and scalable development environment. This diversified strategy not only enhances the platform’s risk resilience but also provides a solid foundation for future expansion and innovation.
Furthermore, UXLINK will continue to focus on building Social-Dex, expanding more functional applications, and generating more positive value. Currently, UXLINK’s monthly revenue is sufficient to cover project expenses, leading to a healthy development and flywheel effect, further showcasing the value of the UXLINK Token. We believe that through continuous innovation and strategic positioning, UXLINK will set a new benchmark in the SocialFi field and drive the development and transformation of the entire industry.
This research report will delve into UXLINK’s current development and future prospects from the perspectives of Mass Adoption pathways, sustainable product and business models, user data, and user profiles.
I. Path to Mass Adoption:
To date, no projects in this bull market have achieved “Mass Adoption,” making it a common topic in the web3 community.
UXLINK’s path to Mass Adoption includes the following:
1. Leveraging existing platform traffic:
Utilizing Telegram’s vast user base, UXLINK acquires initial users at low cost and quickly replicates real-world social relationships on the blockchain.
Customer acquisition and conversion: Incentivizing Telegram users to transition to on-chain users.
2. Link to earn:
Users earn UXUY points by sharing invitations to join UXLINK’s Telegram groups. This mechanism utilizes familiar social relationships to rapidly expand the user base.
In the AIRDROP2049 campaign launched in April and May, UXLINK attracted over 1 million users from 190 countries and regions, with more than 50 partners participating. Notably, over 60% of users participated in the campaign through social invites, demonstrating UXLINK’s broad appeal and virality.
3. Involving external developers:
Developer incentive mechanism: Using $UXLINK to pay for protocol, data, and Dapp usage fees, attracting developers to continuously develop high-quality applications and enrich the ecosystem.
Providing social relationship data at the Dapp layer through protocol layer APIs for developers.
4. Ecosystem collaboration and expansion:
Extensive ecosystem collaboration: Partnering with DeFi, AI, GameFi, and other fields to distribute UXLINK points and NFTs, expanding influence.
Launching the “UXLINK Social Ecosystem Alliance”: Further expanding the developer community and third-party project collaborations to foster income and profit growth.
5. User incentives and retention:
Tiered operations and long-term incentives: Implementing tiered operations through issuing different levels of community NFTs, allocating 65% of incentives to the community to ensure long-term user engagement.
Continuous “mining” opportunities: Building a strong Web3 social network among users and allowing them to earn $UXLINK through community contributions, where contributions are equivalent to “mining” to maintain user stickiness and activity.
6. Diversified token use cases and fair distribution:
$UXLINK has clear use cases in protocol usage, transaction fees, airdrops, and investment opportunities, forming a healthy deflationary model.
Community distribution and incentives: Most $UXLINK tokens are allocated to community users and developers, promoting continuous development and user engagement within the ecosystem.
7. Data-driven optimization:
Data-driven decision-making: Analyzing on-chain data to optimize user experience and incentive mechanisms, ensuring the platform’s development aligns with user needs and market trends.
Continuous improvement and innovation: Leveraging on-chain data insights to continuously enhance existing features and introduce new functionalities, maintaining the platform’s competitive edge and innovation capabilities.
Similarly rooted in Telegram, Notcoin utilizes lightweight Tap-to-Earn mining and viral spread to onboard many new users smoothly into Web3 through Telegram. Since its launch on January 1, 2024, Notcoin has quickly become one of the most popular channels on Telegram in terms of activity and user numbers, with over 30 million participants and 6 million Telegram group members, making it a favored platform for traffic.
According to Dune Analytics, despite not yet having a TGE, UXLINK currently has around 4.6 million on-chain token holders and over 1.6 million NFT holders, with these numbers steadily increasing. Compared to Notcoin, while UXLINK may have a gap in current WEB2 traffic data compared to Notcoin, its user conversion rate is far ahead, with UXLINK having significantly more on-chain holders. The conversion rate from off-chain to on-chain and the ratio of active users to total users are higher for UXLINK, demonstrating its stronger native user base and deeper interaction.
This indicates that UXLINK’s conversion rate from off-chain to on-chain is impressive, with deeper user interactions. UXLINK is actively collaborating with projects while simultaneously educating the market. With the introduction of more applications, it is highly likely to become the next Mass Adoption product.
II. Business Model – Balancing Both Ends, Positive Flywheel:
In terms of the business model, UXLINK caters to both B-end and C-end users.
C-end users:
C-end users primarily engage in social interactions in group settings, discovering, participating, and investing/trading in crypto assets.
Most features are free for C-end users, with transaction fees ranging from 1-3%.
B-end developers:
B-end developers utilize UXLINK’s Dapps and RWS social protocols for the development and growth of social relationships and data.
Providing different trading scenarios and products such as Airdrops, Pre-market, MEMECOIN, etc., UXLINK earns commissions.
UXLINK charges B-end developers for the use of applications, protocols, and data, priced in Tokens, and distributes 85-90% to community users while charging a 10-15% infrastructure usage fee.
Revenue situation:
UXLINK has been generating revenue since 2023 and began building the UXLINK social ecosystem in March 2024 to benefit the community and developers more. Currently, UXLINK’s monthly revenue (calculated in Tokens) is sufficient to cover project expenses.
III. User Data and User Profiles:
Since its launch in late April 2023, UXLINK has grown to 8.2 million registered users, establishing nearly 100,000 WEB3 groups and reaching over 80 million users through these group chats. Throughout May, UXLINK consistently ranked at the top of DappRadar’s social DAPP daily, weekly, and monthly rankings, securing a spot in the top three of the overall rankings.
According to Coin98’s data, UXLINK ranks first in the socialfi track in terms of 30-day active unique addresses, significantly ahead of the second-place contender.
In its operations, UXLINK employs user segmentation and strategies to accurately create user profiles. Current on-chain interactions mainly include two categories:
Interactions related to identity/social: such as SBT, Group, Social Graph, learning check-ins, invitations, etc.
Interactions related to assets and transactions: such as NFTs, airdrops, SWAP, Pre-Market, etc.
Through NFT issuance, user quality recognition is achieved based on user contributions to the community, on-chain interaction behavior, and asset value held. Including:
1. LINK NFT holders number 1,464,755, representing highly engaged on-chain users, the world’s largest NFT holder group.
2. FRENS NFT holders number 328,696, representing an active social group, a driving force for growth for Web3 projects.
3. TRUST NFT holders number 4,374, representing UXLINK’s KOLs and group leaders/group leaders.
4. MOON NFT holders number 353, representing opinion leaders and asset whales in the Web3 ecosystem.
Conclusion:
As an innovative SocialFi platform, UXLINK has successfully 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 through Telegram’s traffic pool to achieving user growth through the Link-to-Earn mechanism, and then introducing external developers and extensive ecosystem collaborations, UXLINK demonstrates tremendous potential on the path to Mass Adoption.
Its business model caters to both C-end users and B-end developers, building a robust ecosystem through diversified token use cases and fair incentive mechanisms. UXLINK not only successfully converts many web2 users but also maintains its competitive edge and user stickiness through continuous data-driven optimization and innovation.
In the future, UXLINK will continue to focus on building Social-Dex and introduce a Social Liquidity Layer for developers, generating more positive value. Currently, UXLINK’s monthly revenue can cover project expenses, fostering healthy growth and a flywheel effect, further highlighting the value of UXLINK-related assets. Through continuous innovation and strategic positioning, UXLINK is poised 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
