GuShiio.com The first step in a product is to gain insight into real needs.
Written by: Deep Trend TechFlow
Spring enters March, but the encryption world seems to have entered winter for a short time. Investors take advantage of their leisure time to calculate the gains and losses of this cycle.
To sum up, this is a short-term bull market that only belongs to the chain.P young player is full of vitality, oldVCPeople bow their heads and lose their will.
Although the Solana Meme season is no longer as prosperous as it used to be, it is difficult for the liquidity that has tasted the benefits of the chain to return to the exchange and cultivate it slowly.On chain has become a collective consensus, just waiting for the new narrative to ignite a new On chain summer.
Why has the pure chain market continued to erupt since last year?
On the one hand, of course, it is the backdrop of peers, that is, VC coins. High valuation and low circulation have squeezed the survival and profit space of retail investors. Rather than becoming someone else’s exit liquidity, it is better to simply give up and start a new game. The meme wave follows.
On the other hand, the explosion of assets in the chain has replenished the liquidity in the chain and gradually filled for its liquidity shortcomings.
Although Meme is widely criticized for its lack of real value support, high-frequency transactions have also forced the improvement of infrastructure such as wallets, DEX, and TG BOT.The new infrastructure represented by OKX WEB3 optimizes user experience and liquidity, accelerating the process on the chain, just as OKX wallet once supported the BRC20 inscription, ushering in the spring of inscriptions.
Today, OKX DEX has become one of the core infrastructures for on-chain transactions. We use it as a case to dismantle the logic behind this product.
True understanding of chain needs
The first step in a product is to gain insight into real needs.
Whether it is Twitter (X) or some local dog MEME communities, members of the OKX WEB3 team can often be found, with each person being degen. Many of them personally participate in chain transactions and can get real feedback from the market.
In addition, the OKX WEB3 team has established a community of product experience officers to continuously collect bugs and suggestions.
Rich experience in the front-line chain, very obedient to advice, and constantly absorbing feedback from the outside world, allowing the OKX WEB3 team to see clearly the nature of on-chain transactions early:What money is made on the chain?
Whether large funds turn to the chain because they distrust centralized exchanges such as FTX and Mt.Gox, or retail investors seek profits through methods such as fast forward and fast out, airdrops, and DeFi mining, the business logic of on-chain transactions points to one core——Trading volume and trading frequency.
Especially in the Meme coin market, skyrocketing and plunging are the norm, and the level of handling fees is not important to players.The key is whether you can buy and sell quickly and realize itarbitrage。
Based on the above insights, OKX DEX Aggregator found its own demand path and built its own advantages from four dimensions.
In my opinion, these are also the four major criteria for measuring products on a chain. Note that they are not in a horizontal relationship, but have important points.
Security: The cornerstone
Whether it is DEX or CEX, security is the cornerstone of everything.
Security here is not just about products being traded safely, but also about helping users identify dangerous assets.
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Token level: Automatically scan token contract vulnerabilities, identify high-risk projects such as Pixiupan and additional issuance traps, and intercept problematic currencies one step earlier than users;
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interactive level: Conduct sandbox simulation of authorization contracts to predict possible asset transfer risks after authorization.
Fast: The trump card
On the chain, only speed cannot be broken. OKX’s core strength isX Routing algorithm,The algorithm compares the prices of liquidity pools of multiple DEXs and chains, splits orders, and considers prices, slip points and network fees to select the optimal route and reduce transaction delays.
Convenience: Mobile is king
One subjective evaluation is that the OKX WEB3 mobile terminal currently represents the ceiling of the Chinese Web3 product experience, which is also its largest moat at present.
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Wallet-DEX-Exchange Trinity: Users do not need to switch between different interfaces, simplifying complex operations to a thumb touch;
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Market dynamics:Visually display market dynamics and automatically mark trading points.
Best price: Save money online
As a DEX aggregator, OKX DEX Aggregator aggregates almost all major DEX on the chain to ensure that users close every transaction at the best price. When large transactions may cause price fluctuations, orders are automatically disassembled into multiple DEX for execution.
Safety, speed, convenience, and excellent price constitute the four core criteria for evaluating products traded in the chain. Safety is the cornerstone, but it is impossible to achieve absolute top level in all four dimensions at the same time, and some focus is needed.
There are no perfect products, only solutions suitable for specific scenarios. The OKX WEB3 team noticed that users ‘core demands were different in different scenarios, such asIn highly volatile markets, speed is the first demand, not the handling fee. However, in daily large-scale ordinary exchanges, prices and handling fees are particularly important.Product strategies need to be dynamically adjusted according to scenarios, so there are four major trading models of OKX DEX.
Product thinking under the four major trading models
The dilemma of traditional DEX is:Security, transaction speed, price advantagesIt is difficult to have both, and OKX DEX Aggregator breaks through demand differentiation.
For different scenarios, OKX has four major trading models:
Simple mode (Xiaobai friendly): There is no cognitive threshold, direct one-click transactions.
Exchange mode (professional mode): Open manual parameter adjustment to meet the in-depth demand of “precise price control/complex strategies”
Meme mode (dedicated to dog hunting): Supports four chains of Solana BSC ETH Base, and the default slip point is higher.Pursuing the fastest buying speed, you can also set some parameters yourself, which is in line with the FOMO mentality of “I would rather buy it expensive”.
Cross-chain model: Quickly realize the flow of assets in multiple chains. In addition to the rapid cross-chain between EVM chains, it also supports the transfer from EVM chains such as Ethereum to chains such as Solana.
The four models of OKX DEX are essentiallyA triangular game model of “risk-efficiency-control” for on-chain trading scenariosThe concretization of the product implies three layers of product thinking.
scene segmentation
Break the vague behavior of “trading” into:
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Novice Inexperience (Safe) Simple Mode
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Adrenaline demand (speed) Meme mode
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Precision computing demand (control) redemption model
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Infrastructure requirements (cross-chain) Cross-chain bridge
Game equilibrium pricing
The essence of on-chain trading is the competition of risk pricing capabilities, and different people offer different bids for risk.
There are also implicit game mechanisms between different models: Meme model exchanges higher slip points for speed premium; redemption model exchanges operational complexity for cost advantages
Ecological niche slot battle
Four modes cover the entire life cycle of users on the chain, ensuring that OKX DEX is used from the beginning of Xiaobai to the advancement of becoming a god.
Novice period: Simple model develops trading habits;
Growth period: Meme model releases speculative desire and high-frequency dog beating;
Maturity period: The redemption model meets strategic needs;
Expansion period: Cross-chain bridges open multi-chain layout;
From transaction infrastructure to information infrastructure
The first step in on-chain trading is to satisfy transactions, faster transactions, and more convenient transactions. Whether it is okx dex or others, you can better satisfy them. The new on-chain product battlefield is before trading.——Help users avoid risks and discover alpha.
There is a dark forest on the chain, where cabal groups and rugs emerge endlessly. On the one hand, some people make a hundred times with their small achievements. However, under the spotlight of success, the chain is also full of bones, and countless young people have been killed among them.
The advantages of OKX DEX Aggregator are reflected in that it is not only a single on-chain trading tool, but also an on-chain information platform that breaks the information gap.
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Visualize data to discover new trends in the chain: Transform complex on-chain data into intuitive visual presentations, provide multi-dimensional information aggregation such as hot sections and hot lists, directly see the hottest narratives now, and support custom filtering and sorting functions to discover the hottest currencies on the market.
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safety protection: Token detection is OKX’s unique security function. It determines token risks based on on-chain information, continuously monitors on-chain AMM fund pool, and provides insight into liquidity changes.
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Trader Portrait: View suspicious, sniper, and smart money positions, gain insight into chip allocation information, conduct profit and loss (PNL) analysis of individual holding addresses, and track historical transactions.
In the latest version of OKX, many new useful functions have been added:
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Looking for smart money:You can always monitor smart money trends on the app, view smart money address rankings, and support screening smart money addresses based on indicators such as address number, transaction volume, market value of opening positions, and entry liquidity.
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Twitterfloating window：When X is swiping and looking for wealth information, when the mouse hovers over the token name with the $tag, the OKX wallet plug-in will recognize the basic information of the coin. The upper right corner can view the entire chain of coins with the same name, and the lower right corner can Jump to the OKX website to complete the transaction.
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Online PNL information sharing:You can share your profit and loss situation like CEX, just like Xiaobian, who boldly shares losses and lets others see the joke.
To allow information and data to serve on-chain transactions, OKX DEX is upgrading from a simple trading channel to build a “cognitive operating system” for on-chain behavior——When trading tools began to deconstruct the data acquisition methods, risk control models and decision-making paths of professional players, traditional information gapsarbitrageSpace will be systematically compressed.
The ambition of OKX WEB3 may be to become the “Bloomberg Terminal + Trading Platform + Social Graph” complex in the encrypted world. This is the next commanding height of the DEX war and new opportunities.
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