Note: I would rather define this entry as a glance at the OKX web3 wallet than a deep dive into it due to time restrictions. Thanks for your understandings.

Statistics

• OKX DEX Daily Active User on Ethereum is nearly 500-600 per day recently.

• OKX DEX 24h user count is about 5636.

source: Dune Analytics

Product Positioning

• Decentralized wallet (an address + seed phrases/private key)

• Non-custodial (true assets instead of receivables)

• All-in-one web 3.0 gateway (Asset Management, Trade/Swap/Bridge/NFT marketplace, multichain, 70+chains, 1000+DApps，跨链异构钱包)

  • DeFi -X routing algorithm, 为用户寻找cost最低，收益最高的order（核心竞争力）

  • 一套助记词管理一个wallet， 一个wallet里有多个account，每个account在70+链上都有地址账户

  • 一个marketplace集成7个source平台（Lookrare,X2Y2 etc.)，支持sell挂牌在两个平台（OKX和Open sea），且挂牌在OKX不收手续费

• Free-of-charge (so far, it has not announced any Basic/Pro or Subscribe fee plan yet)

Target Users

• Previous OKX exchange users who have been affected by the Compliance Act. Such as individual users who are not eligible to pass KYC.

• Web 3.0 products active users/degens, especially DeFi veterans and NFT collectors who need to interact with various DeFi protocols and different NFT marketplaces.

• Web 3.0 newbies/beginners, in particular, the elder generation who are vulnerable to fake CEX applications. (Yes, compared with Gen Z, they could be classified as ‘elder’. 例如大妈系炒币者)

Market and Competition

• Market Trends

  1. Almost all software-based web 3.0 wallets are free-of-charge.

  2. Leading CEXs quickly enter this market one by one.

  3. Emerging technologies, such as the AA smart contract wallet, have powered the Web 3.0 wallet market.

  4. DeFi is burgeoning. (source: Defillama)

• Competitors

  Due to time restrictions. 其实此处最好的内容表现形式是细致到哪些功能是竞品有，而OKX钱包没有的。即以表格的形式，横列是每个产品名称，纵列是功能，然后对应打勾。

  1. Hardware/Cold Wallet → web 3.0 wallet

     OneKey, COBO, Ledger, Trezor, Safepal, Keystone etc. However, they could also be partner, such as the parterniship between Keystone and OKX web3. OneKey is more ambitious to explore the DeFi business within its client terminal.

     Strengthenesses: Security

     Weaknesses: User experience, Hardware Cost

  2. CEX → web 3.0 wallet

     Binance, Bitget, Gate.io etc. Binance is a little bit lag and just announced its Web 3.0 wallet recently. Bitget is the arch-rival for OKX in this domain.

     Strengthenesses: Can leverage CEX Trading volume, Liquidity, Trading pairs; CEX<→DeFi seamlessly switch; most are MPC wallet; User Experience

     Weaknesses: Adoption

  3. Coventional Hot web 3.0 wallet

     Metamask, imToken, Token Pokect, Trust Wallet, Wallet Connect, Fewcha, Martain, Coin98 etc.

     Strengthenesses: User behaviour pattern (familiar with them)

     Weaknesses: limitations caused by the ecosystem positioning

User-Centric Analysis

• User Needs and Pain Points

  1. An alternative solution to across the regulation barrier. As the crypto market has been undergoing extra pressure from the compliance and regulatory authorities in the past 3 years, previous CEX active users, who were not eligible to continue using certain CEX applications in specific regions, are eager to find an alternative solution to pass KYC and keep being engaged with the Web 3.0 space. -→Decentralized Wallet

  2. Fear of rug and misappropriation. Lesson learned from FTT, JPEX, etc., crypto investors, particularly individual investors, need a solution to well manage their assets with full authority and transparency to avoid unanticipated losses generated by CEX custody. -→Non-custodial

  3. Pave the road for Web 3.0 products mass adoption.

     • Web 3.0 early adopters and Degens are fed up with installing and maintaining different wallets for different layer-1 and layer-2 products. They need a hassle-free integrated wallet that enables users to manage their crypto assets on different chains within one dashboard. -→All-in-one Web 3.0 Gateway

       For example, Metamask only supports chains that employ the EVM architecture. If users need to explore the non-EVM world, they need to install specific wallets associated with the target layer 1 accordingly (such as Phantom for the Solana ecosystem and Alby for the BRC20 ecosystem).

       To some extent, OKX Web 3.0 Wallet could be treated as a level-up for the TokenPocket wallet when comes to this aspect.

     • Users need a way to replace the mnemonic method, or, at least, to make seed phrases simpler to memory without making any compromise to wallet security. -→MPC/Keyless/AA wallet

• User Feedback and Behavior

  Skip.

  ( People who are interested in this topic could extract on-chain data to monitor how many addresses are created by OKX web3 per day. How many active users per day? What are the trading volume and the bridge volume from OKX web3 per day? etc… You could also conduct a qualitative semantic analysis based on unstructured off-chain data from the OKX web3 community channels, such as Discord, X, Telegram, etc.)

  Here are a list you may find helpful to extract on-chain data:

• TokenInsight

• Token Terminal

• Defillama

• Dune

• Chaineye

Product Funtionality and Features

• Feature Set

  Please see【腾讯文档】OKX Web 3.0 Wallet https://docs.qq.com/mind/DSmFFT1VUYlJ2QlBi

• Core functionality and features

  1. 跨链异构钱包，一站式解决用户只想用一个钱包就覆盖所有layer1生态的需求。

  2. 没有KYC模块。

  3. 没有资产托管。

• Usability and User Experience (UX/UI)

  • 设计语言：黑白色为主，线条图案button简洁明了

  • 产品模块layout及交互：顶部一键切换按钮，switch to Exchange

  • 产品content：无论technical content还是marketing content目前来看都比较准确清晰。需要提示额外辅助信息的地方基本都有做到用？提示。在一些地方预判了用户可能会犯错的地方，并nudge用户避免了错误。

Technical Aspects

• Scalability and Performance

  1. 兼容性和扩展性都领先同类。提供chrome plugin版本、App版本。提供API和自定义添加chain。提供导入钱包，支持三种cold wallet。

  2. 功能响应速度小于0.1秒，用户在功能之间切换体验丝滑

• Security

  1. 提供iCloud backup

  2. 支持keyless MPC钱包的创建

  3. 支持链接Cold wallet

Business and Revenue Model

目前创建钱包、DeFi order、NFT 挂牌sell都不收费，只有衍生品有明确列出手续费（普通level 1 用户 0.3%）。

Growth and Adoption

• User Acquisition and Retention - Skip. I am not an exprert in this field.

• Market Expansion - Skip

2023 marks a fruitful year for me. Canada PR/HK Resident/My first child Leonard…

Anyway, Happy birthday to me!

Happy 4th anniversary of my marriage!

It is a lovely world. I can feel it.

As you may know, the open-sourced Github project, Hashlips, is widely used for generating NFTs (at least those JPEG/PNG/GIF NFTs). Kudos to Hashlips contributors, you guys strengthened my abilities to take a deep dive into the so-called JEPG summer.

I recommend all degens to experience the Hashlips art engine. It is foolproof and handy. All you need to do are just download the package, install it, and drop your DNA art parts in, then configure the build job, run the job by inputting npm index.js. Done…

If we draw a workflow about how to generate your NFT, it could be:

• Define and design the fine arts’ properties.

  Such as canvas size (512X512? 1240x1240?2480x2480?), dpi (300?), color palette, genre (cartoon? pixel? etc.), parts (head? shoes? clothes? face? hands? accessories?…), and rarities.

• Pick an open-sourced or paid NFT generation tool.

  Hashlips art engine. NFT-generator. and so on…

• Generate your NFTs.

  You may need a little basic knowledge about coding, but do not worry, the user mauals are pretty helpful.

• Save your NFTs in IPFS.

  Well, it is nothing complicated. Download the IPFS client and install it. Upload your files to IPFS nodes and get Content Identifiers (CIDs).

• Mint your NFTs via smart contract.

  Yes, you can still choose Hashlips NFT minting app. How considerable Hashlips contributors are!

• List NFTs or sell them through the NFT marketplace.

  OpeaSea, Rarible, X2Y2, etc.

An example - 0xMonkey

I own the 0xMonkey#1889. (No offense to this project, I actually like this kind of genre.)

You can see the JSON metadata via

https://gateway.pinata.cloud/ipfs/QmeiP7irYhANPxcEsdHUW4Lpza3CktWVXoZJi2EiErCVLf/1889.json

{ "name": "0xMonkey #1889", "description": "0xMonkey is a project inspired by Monkeykingdom and puts it's own unique spin in the art style and traits.Not affiliated with MonkeyKingdom", "image": "https://gateway.pinata.cloud/ipfs/QmWVn8PdQBHQ7c8hiBt8bkGxCGz5GnND8rqaDYJQhvfsKs/1889.png", "dna": "80134e2a91b80de3625c73e2f28447665eb3d67a", "edition": 1889, "date": 1650293715151, "aritist": "koroo", "attributes": [ { "trait_type": "Background", "value": "pink" }, { "trait_type": "Body", "value": "Mk Half Gold" }, { "trait_type": "Clothes", "value": "t grey" }, { "trait_type": "Mouth", "value": "blank" }, { "trait_type": "Head", "value": "blank" }, { "trait_type": "Eyes", "value": "blank" } ], "compiler": "HashLips Art Engine" }

Clearly, NOTHING COMPLICATED in NFT generation techs.

For those Mooned NFT projects, see through the surface, you will discover that all the internal intentions and motivations are marketing-driven. That is to say, your web2 boss is still your web3 boss. It is your curse if you have no doubts.

Class identification first, joyfulness next.

I don’t mean that joyfulness is less important. It is just not as important as those NFT teams stated.

Let’s go back to the core manifestoes of web 3.

#Open #Data authority #Consensus #Equal opportunity

So, what’s wrong?

• OpenSea is not Open.

• Data authority is not authorized.

• Consensus is concerned.

• Equal opportunity is rare.

Vitalik’s journey on blockchain started from his dissatisfaction with the WOW game. Ironically, the NFT summer is still a centralized game controlled by a small group of quasi-web3-deep-state members. You can see these big names (your carved idols) in Cryptopunks, BAYC, Meebits, Eightbit Me, and of course, The Otherside.

The Majority of Web3 product users’ desires and eagernesses to turn the world will only result in an ETH loss. As I twitted before, all NFTs are born to snitch your ETH to Whale’s pockets.

When we call something a GAME, that means, there are game rule-makers who exist in the real world and they will hold an in-game privileged position if they want. Our human society is a long-run big game, from ape (or Homo) to human. The god, prophets, kings and empires, prime ministers, chairmen, and presidents are tangible policy-makers. However, there are still hundreds of intangiable deep-state members.

Well. I am not pessimistic. I still believe web3 is the future.

Digests

• Let the dust settle and go back to where the ETH origins from - Online games.

• Same as its name, owning a BAYC on the blockchain is as same as owning a fancy yacht in the real world. BAYC jpegs have no value, but the ownership of a BAYC is a pass card to get into an upper-class club to exchange first-hand information. That is the essence of rarity.

• A smart contract could be used as a covenant. Those who make a deal with the evil will finally eat their backfires.

• Keep dancing and playing the ambient music on. The Great Gatsby is still an idol to most web3 users, because he is rich, at least.

I want to care but I deeply understand that I am just nobody and my words mean nothing to local governors.

From 12th March 2022 to 23rd April 2022, it has not ended up yet. What will happen tomorrow and when will be the release day?

Spring is a fabulous season, but it is also full filled with pities.

For sure, Adele is my favorite british singer!

Today is 23 November, 2021. It is my birthday. Happy 30 to me.

In conventional chinese wisdom, it is said ‘三十而立’, which literaturely means that when someone is 30 years ago, it is time for him/her to be a fully independent person, both finacially and mentally. I am not sure whether I have fulfilled this requirement, but hope one day I will.

Anyway, thanks to my husband Mr.Teddy Z who taught me how to love and my parents who brought me to this world. :)

这是我人生中第二次拥有一张选民证，我感到很荣幸。

接下来的日子，我们的生活中可能会有一些很重要的历史事情要发生，

但我依旧会珍惜这张选民证所带给我的记忆。