[REDACTED] 2024 | Improving Onchain UX at the Consumer Layer

Captions as YouTube publishes them, usually machine-generated, so product and people names can be misheard.

1. 0:01

   uh my name is Nick I lead BD for dapdap dapdap is your NextGen consumer application to explore evm networks and ethereum l2s um we're essentially simplifying this onchain experience such that you can come to one platform to navigate all of these defi applications in one place um so I want to start it off with a with a question with um who here uses email obviously everyone's hands should be going up and the reason why I'm asking this is because because I think it's something that's super overlooked

2. 0:32

   in terms of a technology standard that has truly you know revolutionized the way we communicate online and so one of the questions I want to ask is you know have you ever thought about how email works and ultimately it's like these three core protocols called pop IMAP SMTP which is like smart mail transfer protocol which you know have been around for like 40 years and so the premise here is you use email daily but you don't think about how it works you just

3. 0:56

   use the email client to Gmail Hotmail whatever it may be without really realizing that it's just these three protocols that you know power how email works and so what I really want to drive home here is basically you're not really thinking about using the underlying protocol and you're using the application or the user interface which is that email client and so now transitioning to crypto and obviously

4. 1:20

   the web 3 landscape I think currently we're suffering from Three core pillars of of of how would say detrimental infrastructure per se or detrimental catalysts which are there's a large infrastructure bloat there's limited user attention and ultimately there's a bad user experience on chain right and so diving into this infrastructure bloat there's basically more infrastructure in the space rather than usable applications right and so this fat protocol thesis is um and

5. 1:51

   combined with ebola which is ethereum bags over logical Affliction which basically means that you know tier one VCS like dragonfly or others basically have to deploy you know their LP's capital in a certain amount of time say 2 three years and a majority of value URS at this infrastructure layer because that's where they can basically make the most money and so this fat protocol thesis really just wants to kind of dive

6. 2:15

   into how most applications that are built in today's landscape are are largely infrastructure rather than usable applications because most VCS can then make money um and obviously raise market caps and then therefore you know exit their bags right and fundamentally it's a very fragmented landscape due to this you know in the last year um sorry just the slide wasn't touched up but in the last year you know we've seen probably about a 100 rollups come to the space there's a bunch that are obviously

7. 2:41

   deployed on ethereum but now more and more are coming to other um tech stocks as well and so with advancements like Caldera which are rollups as a service you've seen that more and more VCS may be investing into rollups that do specific things whether it's gaming socialy or other general purpose you know know evm networks and so ultimately there's a lot of infrastructure on chain

8. 3:05

   and there's not enough tangible consumer applications that are improving this user experience and so touching on this bad and complicated user experience I I would honestly argue that interoperability is pretty close you know to zero I think ultimately if you're a person on chain you're someone who likes to use you know one network or maybe a couple and then you get really used to the set of daps because you know

9. 3:29

   that's what you may do you may you know LP to certain applications you're going to swap on this deck you're going to bridge with this bridge and ultimately you're kind of siloed within this right there's not really been a real reason for users to you know play onchain games because there's not been a really good game right so there's really too many steps that a user has to take to then even get into using certain daps in the first place and that's ultimately this infrastructure problem and not enough

10. 3:53

    people that are really building to simplify this onchain experience and so so touching on this as well there's a lot of users that may be coming into the space that are less techsavvy right you have a people you have a lot of people that you know simply want to swap or Bridge or stake and and you know LP into certain pools and are more defi Advanced but other people who just may want to you know purchase meme coins or purchase nfts

11. 4:18

    ultimately don't really have that much attention you know there's there's too many applications there's too many layer twos and layer ones and there's ultimately too many things in the space for you to understand what you should be doing hence why you know your attention is is super diluted right and so with this it's like how can we solve these problems to make it easier for people to navigate on chain and make it easier for them to understand like what they can do and what they should do and so this is

12. 4:42

    you know the current state of the market there there's fundamentally about you know 4,000 applications about a thousand of them are a compound in unisoft Forex and um there's not much innovation in terms of like applications that are that are really pioneering you know different Tech standards per se um and so driving this right it's like if we don't make infrastructure invisible the same way email clients do that for you then you know we'll never really reach mainstream

13. 5:06

    because you shouldn't be thinking about um you know how I use and interact with a smart contract you should just be using the application itself and so that's what we're really trying to do here at dap tap it's we have all these applications that are within this platform and you're just using the daps you're not thinking about the underlying smart contract that you're using um and so there's multiple ways to go about this of course we're doing sort of front end abstraction there's obviously account abstraction that's

14. 5:29

    coming gas abstraction Bridge abstraction leading to this ultimate you know um thesis of chain abstraction and so all these things dying together right that that's on the tech side of things but there's not there's not enough um Innovation on this idea of shortening the amount of steps as well which I think is super important because like if a user wants to like play a game that's that's a um I don't know some sort of game that they want to then perform some actions within they should just be

15. 5:54

    having to swap and click on an action or that button and not necessarily think about interacting with that smart contract so the idea is like can we take away these protocols and the smart contracts and take away that Tech such that the the actions that they're doing are just interacting with those smart contracts and not actually interacting at the tech level per se and so driving home front ends are not smart contracts and I think this is

16. 6:17

    really the key Point here and this is what we're leveraging adapt at to make this um make this platform feasible now I just want to touch on the consumer apps in the space too like I was mentioning there's about 4,000 defi apps and there's probably like 20 30 consumer facing applications which you know frankly aren't many you know you see ones that are you know heavily used today say pumped off fund for for meme coins or open SE to buy nfts But ultimately there's not really been one

17. 6:42

    consumer facing application that has you know garnered this much traction and has on boarded thousands of users into the space like sweatcoin is doing a great job but still that's that's that's a niche right there's not really a general purpose application that has brought defi to the Forefront and so what we're doing adap that is really creating a simple unified interface application that with which you can come into and essentially if you

18. 7:06

    want to use these networks go ahead we can help you swap bridge in stake do all your defi actions in one place because you're already using these applications from the front ends we've built and I'll go into actually how that looks like in a few slides too so today we have about 17 chains live and over 200 applications and you know I truly do think that we're we're one of the best defi applications out there because we have actually

19. 7:29

    aggregated all these apps within one platform and you're able to do everything you want to do um literally in this one place swap L borrow Bridge stake LP whatever it may be you're just using our front end and interacting with those apps that you already use on a daily basis and so let's talk a little bit about traction to uh we launched about six seven months ago uh we have about

20. 7:52

    150,000 registered users cumulative volume of about 200 million to and um I think this untapped Market potential is huge I think a lot of people don't also really realize how many di users there are in the space there's probably about you know one to two million daily weekly active users that are actually using defy onchain but but as a whole we we think of it at about 10 million right there's about 10 million users in the space that are actually actively participating and or looking at um using

21. 8:22

    defi onchain on a monthly to to quarterly basis right so this Market is huge right and there's not many uh applications really trying to aggregate this experience into one place and solve this need for all these users and so welcome to dapt app your NextGen you know defi consumer app and so we did a large push from V1 to V2 this is the homepage that you're brought into as you as you search up dapd app.net and basically you're prompted with obviously all these different chains right and the idea is like if you're a person that already has assets on different chains

22. 8:55

    you can click on the Chain you want to use of course and you'll be prompted with let's say the this little widget where it shows you already Assets in your wallet and assets staked across different D5 protocols so let's say you're someone coming to uh to DAP that for the first time from blast you'll see this you'll click on it and you'll be like okay cool I understand that I already have like 50k stake the cross you know Thruster um um uh Thruster or other adaps that are available on base

23. 9:19

    and that makes it super easy for you to understand okay these are my assets there and so diving deep we prompt you to do three different things and this all inone page is my favorite one because basically what we're doing here is within this network of all those 17 chains you saw these are the main things we want users to be doing and the main things that users are already doing you're bridging to a chain you're swapping on a chain and you're likely

24. 9:42

    lending right between money markets or depositing liquidity and so what we're doing here is you can imagine that these are the three core Primitives but there could be vaults there could be per there could be um you know launchpads too there are other aspects that are def Primitives available on each chain and so over time we'll consolidate them into this one interface right and so clicking on um say Bridge right you're prompted

25. 10:07

    with this super Bridge which is our Bridge aggregator which is aggregating aggregators and So within this we we pretty much pull um you know leafy jumper router um axar Stargate you know all of these core bridges that are already doing their job and we're just packaging it into this one seamless experience that's already on dapd um and then again you can sort between uh cost and speed and and it'll show you you know the best available Bridge routes

26. 10:31

    from all these Bridge partners that we have integrated and then secondly same for the Dex aggregator which is super swap again we're aggregating Dex aggregators so that within dabdab you kind of have this seamless packaged experience instead of you going to um you know one inch to then swap on one inch you kind of you can do it on dapdap and then go ahead and use the other daps that you may want to use already now I'm just diving deeper into

27. 10:57

    like the lending page this is what it would look like for arbitrum we have you know about you know six applications integrated here radiant cream um feda Grainery could be a compound you can see that you're essentially just using our front end to access Radiance um lending markets and money markets so you can deposit and borrow as you see fit within our front end ultimately making this experience just a bit more packaged and

28. 11:22

    a bit more catered towards the user instead of going to all these different D5 sites yeah this is what it would look look like to supply and borrow and then you can see your positions as well if you did have any of course and So within one of the tabs obviously it says to go and explore chains and networks and within this you can scroll through and see all the available networks we support clicking on any one of them allows you to go a bit deeper into the network and see the daps that are available on dapt at the

29. 11:53

    moment um same goes for exploring the daps that we have available clicking on any one of the these redirects you to to the front end that we have built and then this is a super cool um feature that I that I love about dap we basically um built a better version of debank in my opinion but we support about five six chains at the moment out of the 17 where within this you can see Assets in your wallet assets sted across

30. 12:17

    different D5 protocols and then also an execution record and that that lever or on the first page the homepage that you saw with which scroll that popped up and you or blast that popped up with the asset balances we're leveraging this product that we had built which is onchain data indexing and so let's talk a little bit about what what we're doing today obviously dap app is our core product but you know we've been chatting with so many chains and so many

31. 12:42

    applications that are maybe underserving some of the new products that they're releasing and so we're coming in to be like hey can we can we be a white label infr partner to build out some cool things for you guys and so as part of polygon's agat initiative we're we're basically helping them to um create the seamless experience for all of their cdk chains which are going to be integrated

32. 13:03

    into the AG ecosystem and so you again you come to one PL one site and explore all the polygon agare networks that are available there with which you can Bridge swap lend etc etc etc in this one Consolidated packaged product um ohop that's it but um I would love to show you something else too um if I could give me one second okay well clicker ain't working but um I think one thing I didn't touch on here is there's a bunch of Stack chains too optimism arbitrum um polygon being

33. 13:37

    another one basically there's there's a bunch of these you know layer twos that are then trying to leverage their own um rollup Technologies and are building out their own ecosystems and so if you're a person that's been using optimism Bas mode um or some of these other stack chains within optimism again it becomes increasingly fragmented so the space is so fragmented such that you're a person that's only moving Capital to this one chain to then use these core set of

34. 14:01

    applications the end goal is can we aggregate all of these experiences and all these available products perhaps and present it to you as a user that this is the best opportunity for you to um deposit your eth or your Bitcoin or or some of your assets and find this aggregated yield offering across all these different chains and so ultimately like products like this are things that we are experimenting on we have built out things for um bear chain as well

35. 14:25

    things for optimism that are coming out things for arbitrum and a lot of things will be coming out next year with which we're going to essentially just be experimenting with this onchain consumer experience the DAP dab product is still our core Focus but we're trying to leverage some of this Tech that we built and white label it out to some of these other chains and kind of see what sticks because ultimately no one knows what the real Catalyst will be for this onchain user experience and no one's done it yet

36. 14:48

    so uh we're trying to Pioneer this way so um yeah thank you guys