📰White Paper
Abstract
UXLINK is a leading user-driven web3 social platform for mass adoption, aiming to be a social DEX and social infrastructure. Different from other one-way, following-only relationships, UXLINK forms two-way, friend-type social relationship, and enables real-time interactions by UXGroup usage scenario. In this litepaper, we outline three key elements of UXLINK missions:
Social Central: To be the largest social platform and infrastructure, focusing on authentic real-world, bi-directional connections.
Gateway to All: Bridging Web3 and Web2, for users and developers to discover, distribute, and trade crypto assets in unique socialised and group-based manners.
Community Prosperity: To foster an inclusive, trustful and rewarding social-economic community.
Unlocking the power of SOCIAL is the key to widespread Web3 adoption, and UXLINK is at the forefront, leading the way in socialized Web3 interactions. UXLINK feature a range of user-friendly Dapps, seamlessly incorporated into Telegram and other real-world social platforms. These applications encompass onboarding, graph forming, group tools, and socialized Web3 interactions. A groundbreaking advancement lies in encrypting and standardizing real-world groups, transforming them into Web3 operational units. This innovative approach positions groups as the focal point for Web3 applications, marking a revolutionary stride in social and virtual interaction innovation.
To ensure simplicity, fairness, and effectiveness, UXLINK adopts the innovative dual-token (on-chain points & token) economics model. This strategic balance enhances the user experience and amplifies the impact of the platform.
1.Real-Life Challenges We Address: Ownership, Trust, and Inclusiveness
1.1 Lack of Clarity in Social Data Ownership
The absence of clear ownership in social data poses a significant challenge, while social data and networks are valuable and irreplaceable assets for all mankind.
In the centralized web world (Web2), users generate substantial data but benefit little. This ownership gap hinders developers from creating innovative products and features. Accessible and composable data, owned by users, is crucial for developers seeking to initiate network effects. The ownership issue extends to social groups, where there are long-standing conflicts between group leaders and group members.
1.2 Trust Is One of The Biggest Concerns
Despite blockchain technology being designed to address trust issues in the web world, rug pulls continue to occur very often. This is partially caused by the anonymous mechanism. And we believe social graph and socialized interaction can improve trust, creating greater sense of safety, because it is human nature for people to show more integrity and reputation in front of people they know.
1.3 Financial Inequity Persists Among Large Populations
According to the 2021 World Bank Global Findex, more than 20% of adults (age 15+) are unbanked, not to mention other financial services. Block-chain technology, born to solve finance problems, may help people build financial knowledge and resilience along the way with mass adoption and scheme designed by UXLINK.
2.A Trust-based Social System Is Our Solution
To overcome the stated issues, ensuring that social interactions and discussions, including interactions in relation to Web3 financial topics, seamlessly integrate into a deeply socialized experience, fostering trust and thriving for everyone.
2.1 Design Philosophy and Principles
While UXLINK is evolving, we formed below 3 core principles and philosophy as the guidelines:
User sovereignty first. User sovereignty includes users having ownership and control over online identities, social connections, social data, with data privacy protection.
Synergize with real-world connections. We do believe real world connections represent and reflect an individual's reputation, credibility, and values. This fills a key gap that has been missing so far in the blockchains and token-powered protocols.
Inclusion for users and developers. Creating user-friendly products for both Web2 and Web3 environments, and providing open-sourced, easily integrated infrastructure for developers, fostering scalability.
2.2 Major Features and Functions - UX Dapps
2.2.1 What We Offer to Users:
UX Invite: UX Invite is light Dapp with a mechanism for users to build their on-chain social graph.
UX Wallet: Based on MPC and will be enhanced by Account Abstraction technology. Major advantages include private key social recovery, custody, and automatic executions to better strike the balance between safety and simplicity.
UX DID/Profile (SBT): Users can create Web3 accounts through Telegram, WhatsApp, etc,, reducing the threshold for users to enter Web3. Web3 DIDs reflect and capture users’ existing real-world connections, and thus reflect the real-world credibility. Profile. By ZK (Zero-knowledge proof) technology, users own and utilize their self-sovereign identities (SSI) and social relationships with privacy protection.
2.2.2 What Groups Own (UXGroup):
Encrypting Social Groups: A revolutionary move to standardize groups into Web3 operational units, making groups the focal points for Web3 applications.
AI Groupkits:Includes group resourcing and data sharing schemes, empowering real groups and leaders.
GGraph: Mint group ID and graph to build social networks on chain in group level.
GWallet: Manage group's networks transparently.
GPass: Capture your group's benefits.
2.2.3 UX Social DEX:
UX-IDO (under development)
UX-Lending (under development)
Also as an aggregator for other Defi products.
2.3 UXLINK Protocol: Developers’Hub and Accelerator
The UXLINK protocol caters primarily to developers, currently residing on the Arbitrum chain, ensuring secure and cost-effective technical services for UXLINK. In the future, UXLINK will continue to launch on other chains, supporting multi-chain. API and SDKs are provided to developers and partners.
2.4 Other Dynamic Dapps Under Developing
AI GroupKit Bot: A decentralized AI Dapp for individuals and projects to build and manage their community. The bot is suitable for Telegram system.
AI Assistant: Search on-line crypto information fast and provide AI data for users.
UX Interact: A social interaction Dapp for users to conduct socialized Web3 interactions on a variety of topics, including Web3 financial topics, individual and group interactions, just like a game.
3.Usage Scenarios
Let's explore a typical user journey, featuring Alex:
3.1 Gateway to Web3
Alex uses UXLINK Dapp to create his networks in web3, wallets, DIDs, profiles, forming his social network. Alex can discover, engage and trade or invest in crypto projects in a socialized and group-focus manner.
3.2 Unlock The Value of Social Networks
Alex utilizes his social networks by offering traffic, data, and engagement, facilitating activities like social games, social marketing, and Dapp growth. Simultaneously, Dapps leverage Alex's networks to access new audiences, rewarding him for his contribution.
3.3 Socialized Interactions
Alex can engage socialized Web3 interactions on a variety of topics, including Web3 financial topics in a safer and friendly environment, to achieve better benefits.
3.4 Leadership in Group Activities
More importantly, Alex can play a leader role in group activities to influence other users and get more incentives. Alex can join other groups and interact with other group members.
4. Model
In principle, users, not UXLINK, own the networks and associated data, resulting in users owning the generated benefits on UXLINK. The model for UXLINK encompasses two main sources:
From users:
Commission fee: UXLINK imposes a certain percentage of commission fees on socialized interaction Dapps in relation to Web3 financial topics.
Gas fee: Involves data owners and demanders. UXLINK charges a certain percentage of fees, termed as "gas" for data movement. Additionally, if Dapps generate benefits within the network, UXLINK also charges a percentage of fees.
From developers:
Service fee: Partners (Dapp developers) pay service fee for UXDapps, protocols and data usage.
Product sell: If partners sell products (e.g. NFTs, game tools) to UXLINK users, marketing and sales fee may change.
Tokens received include $UXLINK and other cryptocurrencies. The generated fees will be allocated towards community development and token management.
We will form treasury DAO after TGE and delegate this rights to DAO to keep the usage transparent.
5. Tokenomics
The UXLINK project adopts dual-token (on-chain points & token) economics model, comprising the community's native utility token or points ($UXUY, as POW records) and governance token ($UXLINK).
The point plus token model provides a framework of governance and development of our community and ecosystem, while maximizing the transparency and fairness.
5.1 UXUY: UXLINK Utility Token/Points
UXUY is the reward system points for UXLINK's community and ecosystem development, solely based on a transparent Proof of Link (POL) mechanism. There is no pre-minted UXUY; linkers earn UXUY by inviting others or contributing to the ecosystem. A linker can be an individual or a partner/developer. Stored in an Ethereum-compatible wallet, the earlier a linker creates their social network, the more UXUY they receive. This approach ensures fairness and simplicity of community growth.
5.1.1 UXUY on-chain point Reward Decreasing Formula
Where:
TAM(ts0) = max(3000 - [(ts0 - tsG)/3600*24], 1)
EAR(cLg) = max((k/100) - 0.001 * [cLg / 100000], 0)
OG - Users holding SEAMAN NFTs are OG users, and their incentive weighting coefficient is 120%.
TAM - Time amplifier, incentivizes early adopters.
EAR - Early Adopter Reward, incentivizes early contributors.
For networks with 0-100,000 people, the EAR incentive factor starts at 90%.
For networks with 100,000-1,000,000 people, the EAR incentive factor starts at 30%.
After 1,000,000 people, the EAR incentive factor decreases to 10% and decreases linearly by 0.1% every 100,000 people.
k - EAR incentive factor:
[cLg < 100,000, k=40].[10 < cLg <1,000,000, k=20].[cLg >1,000,000, k=10].\
ts0 - the current node's establishment time.
tsG - the project's genesis release start time.
cLu - the number of people who established the current node.
cLg - the total number of people in the UXLINK network.
When cLg >= 100 million, Rewards = 0, which means that no new UXUY on-chain points will be produced once the network reaches 100 million. At that time, the value formed by the network effect can support users and nodes to continue expanding and reach a level of billions.
The UXUY utilizes a decrement logic reminiscent of Bitcoin's, employing a computational formula closely aligned with Bitcoin's mining logic. Key variables influencing token decrement include time, the number of connections to a single node, and the overall UXLINK network's total user count. As the UXLINK network expands, users will experience an exponential decrease in the UXUY earned. Consequently, users entering the UXLINK network later will receive fewer UXUY, emphasizing the scarcity and value of early engagement.
5.1.2 UXUY Utility and Burn Mechanism
Both users and developer utilize tokens to interact with UXLINK networks.
UXUY can be used to pay for commission fees and "gas" fee within the whole ecosystem, covering transactions, transfers, and social network interactions.
If UXUY is not claimed on-chain and the users are not active within 6 months, the points would be re-allocated to the community or burnt.
If UXUY is generated by misbehaved or dishonest behaviors, e.g. by linking fake accounts, the points may be disqualified and re-allocated to the community or burnt.
5.2 UXLINK: UXLINK Governance Token
Our to-be-issued governance token - $UXLINK is to realize governance and capture benefits from UXLINK project and products.
5.2.1 Total Supply and Allocation
The tokens have limited supply of no more than 1,000,000,000 and we propose below allocation based on maximized supply.
Notes：
Among the 65% of community, users account ~40% while all other types of builders and partners account ~25%.
For development of the project, new partners would be in, and this would change the allocation. We will keep the change transparent if it occurs.
For dishonest and misbehaved behaviors, the community reserve the rights to disqualify the tokens and reallocate to the community.
5.2.2 $UXLINK Utility
Both users and developer utilize tokens to interact with UXLINK networks.
Voting rights. one $UXLINK one voting right, by snapshot.
Developers need to pay $UXLINK for usage of UXDapps, protocols and data.
Users can pay $UXLINK for commission or gas fee for Dapps and services.
5.2.3 Release Schedule
Please note the starting point is upon listing/TGE
Community: $UXLINK tokens will be airdropped to active users, builders, and partners. Notably, once airdropped, there is no lock-up period, providing immediate access.
Partners: Initially subject to a 6-month lock-up, followed by a 24-months or 21-months quarterly release, promoting long-term engagement.
Team: Initially subject to a 9-month lock-up, followed by a 24-months linear quarterly release, promoting long-term engagement.
Treasury: Flexible
Below is the indicative maximized supply of $UXLINK since listing in 16 quarters, 4 years.
Notes:
By end of 16th quarter, if the project reaches 100,000,000 users, the total supply will reach the max.
The release schedule would be further adjusted upon community agreement.
5.2.4 Community Allocation Strategy
The total supply of $UXLINK allocated to the community is intricately tied to the POW (Proof of Work)/POL (Proof of Link) contributions from users and various builders. According to our utility tokens generation formular: the maximized potential supply will occur when the total qualified users achieve 100,000,000; the networks' utility and gravity can support growth without a reward system beyond 100,000,000 users.
The $UXLINK release according to the total number of users; time axis is an indirect factor, indicating that:
If total number of users reaches 100,000,000 earlier than scheduled, more $UXLINK will be release earlier.
If the total number of users reaches 100,000,000 later than scheduled, the maximized supply will take longer time to released.
If the total number of users cannot achieve 100,000,000 users, the total supply will not reach the max supply at all. As a result, the total supply would not reach the max-supply of 1,000,000,000.
6. Roadmap
Considering the scalability and sustainability of the project, UXLINK community have developed a 4-year roadmap, aiming to be the largest web3 platform and infrastructure in the world. However, beyond 4 years, the project will continue to build and support the web3 mass adoption and inclusive finance for the world.
Summary
UXLINK is the largest web3 social platform and infrastructure for users and developers to discover, distribute, and trade crypto assets in unique socialised and group-based manners. As more users join and actively participate, UXLINK is forming a Web3 gateway, a social DEX and infrastructure with the goal of facilitating mass adoption.
Two characters distinguish UXLINK from other social protocols and Dapps:
UXLINK combines real-world, acquaintances’ social connections with blockchain technology to enhance to trust of the web world.
Encrypting and standardizing real-world groups into web3 operational units and making groups the landing scenes for web3 applications.
We cannot emphasize enough that UXLINK is truly community owned and community driven. Supported by esteemed partners, featuring a talented pool of builders, and expanding into diverse markets, the UXLINK community is poised to shape the future. The journey ahead promises to be defined by the collective strength and innovation of the UXLINK community.
Change log:
2023 May: Alpha version 1, stated goals, features, utility tokens
2023 Aug: Alpha version 2, updated user scenarios and revenue models, proposed governance tokens
2023 Sep: Alpha version 3, updated more user scenarios
2023 Nov: Alpha version 4, updated brand name and group functions
2024 Jan: Alpha version 5
2024 Mar: Alpha version 6, change token allocation because of private sale, approval by community votes.
2024 May: Alpha version 7, upated $UXLINK Utility
2024 June: Alpha version 8
2024 July: Alpha version 9
2024 Oct: Alpha version 10, upgrade UXUY on-chain point system to support 100,000,000 users’ growth
Our community reserve the rights to further update the whitepaper along with the development of the project and community. We welcome and appreciate any feedback and suggestions as always.
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