π°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, focusing on authentic real-world, two-way connections.
Gateway to All: Bridging Web3 and Web2, to unite 100 million users, fostering universal connectivity.
Community Prosperity: To foster an inclusive 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. 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 a dual-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 usersβ 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-Swap: Trade cryptos
UX-IDO (under development)
UX-Lending (under development)
2.3 UXLINK Protocol: A Developer's Hub
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 manage and engage his social networks in both Web3 and Web2 settings.
3.2 Utilizing Social Networks
Alex utilizes his social networks by offering traffic, data, and engagement, facilitating activities like social games, social marketing, and Dapp fission. 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 three main sources:
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.
Commission fee: UXLINK imposes a certain percentage of commission fees on socialized interaction Dapps in relation to Web3 financial topics.
Service fee: If partners (Dapp creators) need help from community to attract new audiences, service fee may be charged.
Product sell: Community or project may advance tools or unique identifications such as NFTs.
Tokens received include $UXLINK and other cryptocurrencies. The generated fees will be allocated towards community development and token management.
5. Tokenomics
The UXLINK project adopts a dual-token model, comprising the protocol's native utility token or points ($UXUY, as POW records, points) and governance token ($UXLINK).
The dual-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
UXUY is the reward system for UXLINK's community and ecosystem development, solely based on a transparent Proof of Link (POL) mechanism. There is no pre-minted UXUY; users earn UXUY by inviting others or contributing to the ecosystem. Stored in an Ethereum-compatible wallet, the earlier a user creates their social network, the more UXUY they receive. This approach ensures a fair and incentivized growth of the community.
5.1.1 UXUY Token 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 >= 30 million, Rewards = 0, which means that no new UXUY Tokens will be produced once the network reaches 30 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 time progresses and 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 Token Burn Mechanism
UXUY can be used to pay for on-chain Gas fees within the whole ecosystem, covering transactions, transfers, and social network interactions. Notably, a percentage ranging from 3% to 15% of these fees within the UXLINK ecosystem will be subject to a token burn mechanism at UXLINKβs sole discretion.
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.
| Composition | % | |
|---|---|---|
Community | Users who own UXLINK utility tokens, and builders and partners contributed to UXLINK projects and ecosystems. | 65 |
Private Sale | Partners of this project. | 21.25 |
Team | Co-founders, contracted employees, advisors. | 8.75 |
Treasure | Reserves such as lunch pads, reserves, staking. | 5 |
NotesοΌ
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.
5.2.2 Release Schedule
Please note the starting point is upon listing, not TGE
Community: $UXLINK tokens will be airdropped to active users, builders, and partners monthly. Notably, once airdropped, there is no lock-up period, providing immediate access.
Partners: Initially subject to a 3-month lock-up, followed by a 2-year linear quarterly release. This entails a gradual release of 12.5% per quarter for 8 quarters, promoting long-term engagement.
Team: With a 6-month lock-up, the team's $UXLINK tokens will undergo a 2-year linear quarterly release, releasing 12.5% per quarter for 8 quarters, aligning with the project's long-term success.
Treasury: Flexible
Below is the indicative maximized supply of $UXLINK since listing in 16 quarters, 4 years.
Notes:
Assuming the treasury (5%) is released when listing, the circulation supply would be around 10% of max supply; if not, the circulation supply would be around 5% of max supply.
By end of 12th quarter, if the project reaches 30,000,000 users, the total supply will reach the max.
5.2.3 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 30,000,000; the networks' utility and gravity can support growth without a reward system beyond 30,000,000 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 30,000,000 earlier than scheduled, more $UXLINK will be release earlier.
If the total number of users reaches 30,000,000 later than scheduled, the maximized supply will take longer time to released.
If the total number of users cannot achieve 30,000,000 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 social Dapps 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.
| Stage | Tasks | Major Milestones |
|---|---|---|
Y1: Prove | Product market fit | 1 million users approved the concept |
Y2: Web3 Ecosystem and Tokenomics building | Cross-chain building Listed in CEX & Dex | β’ Cross-chain β’ Provide liquidity of tokens |
Y3: Expansion | Channel Expansion Market expansion | β’ WhatsApp deployment β’ 10 million users |
Y4: Open Ecosystem | Bridge web2 and web3, for users, builders, and ecosystem partners | To be the largest and reliable web3 social system |
Beyond: Further growth and contribution | Refer to project vision | refer to project vision |
Summary
UXLINK is social system includes social protocol and a series of Dapps that facilitate virtual interactions on a variety of topics, including Web3 financial topics. As more users join and actively participate, UXLINK will evolve into a network consist of social graph and relationships. More importantly, UXLINK create a revolutionary landing scenes, the web3 groups, to lead mass adoption.
Two characters distinguish UXLINK from other social protocols and Dapps:
UXLINK combines real-world, acquaintancesβ 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 version3, updated more user scenarios
2023 Nov: Alpha version4, updated brand name and group functions
2024 Jan: Alpha version5
2024 Mar: Alpha version 6, change token allocation because of private sale, approval by community votes.
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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