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Jul 29, 2020

Who will get the next killer DeFi app?

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Ethernet Square a success, attracting more and more developers to build products on top. And their most attractive point is that they can bring the mainstream into the encryption field. So will there be something special in the crypto market in 2020 that will change everything and even make crypto users take their attention away from Ethereum? Who will be the next killer app?

First of all, the things you create must be attractive enough to prove that the blockchain can be effectively expanded, started smoothly, and can seamlessly connect with legal tender. Secondly, you need to spend more time thinking about how to make your project attract more people’s attention, instead of studying how to create a DEX with the best user experience, nor should you create a so-called “decentralized social network”. Not to mention that you should not spend a lot of money on some worthless domain names.

Once upon a time, the “crypto cat” was all the rage, and everyone was talking about how to make money with this encrypted application, which attracted a lot of attention in the industry. However, the time has passed, and it may take more effort to gain similar attention in the crypto industry, especially during the new crown epidemic. Due to the rapid development of liquid mining and innovation, dozens of projects appeared on the Defi market at once. No one cares about when the next prediction market platform will appear. People just want to make money in the most interesting way and at the fastest speed. Therefore, if the next killer application appears in the Defi market, there must be a compelling reason to convince users, attract their attention, and at the same time properly stimulate the user’s curiosity and suggest that it can profit from it.

Since last month, the Defi token industry has seen explosive growth, and some new automated market makers have also begun to appear in the market. Let us see that ERC-20 tokens have more than the existing token framework. Exciting use cases. And as NFTs begin to interact with Defi, in the future, in the Defi field, the owners of valuable NFT tokens will split their ownership and create a liquidity fund pool. Users can purchase NFT tokens from the liquidity fund pool. Tokens and the owners of these “fragments” can vote on the use and sale of NFT tokens, which will eventually create an unprecedented type of tokens, which is to build community-owned assets and promote more Deeper collaboration between members.

Nowadays, DEX aggregation services are rapidly becoming popular, and they can obtain and aggregate liquidity from multiple sources at once. But if you have ever used an aggregate trading service platform like Instadapp, Zerion, or 1inch, you may feel very overwhelmed at the first visit, and it is easy to fall into decision-making paralysis.

In fact, the final role of the aggregation service platform in the Defi industry may be similar to search engines such as Google and Baidu. Users can use it to explore the most matching investment opportunities, and the platform can also recommend new trading opportunities to users. Encryption projects located at the lower level of the aggregation service platform will become well-known brands. They need to continue to gain more attention and try to attract users to use their trading products and services.

However, there are so many opportunities and too many crypto projects to list every token, just like the problems faced by many centralized exchanges today. In addition, if your trading platform focuses on developers, it can indeed improve network performance, but the problem is that many developers are reluctant to use such platforms because they are usually busy building their own trading platforms. Therefore, for the aggregation service platform brand, the most important thing may be to seize opportunities for professionalization and planning. Five years later, the aggregation service platform should look more like “fashion tokens” like Zora and Foundation. New tokens can be listed when the agreement is used. As the project/community continues to explore the token use cases, how to use the agreement will It will become a new specification, not a custom smart contract. Only the most commonly used protocol tokens are eligible to be listed on the aggregation service platform.

In summary, the next killer application must be quite outstanding, because it will not only compete with Ethereum but also with many other applications. In addition to faster transaction speed and lower transaction costs, the product itself also Needs to be more attractive.

This application is not only researching effective ways to allow people to share their “earnings in the process of participation”, but the most important thing is also to make outsiders curious and eager to learn more.

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