Gravity: Unveiling the Ultimate Holy Grail of Chain Abstraction

Written by: Rapolas

Compiled by: LlamaC

“Recommendation: This article shows the future potential of the Gravity chain to be launched by Galxe from the perspective of the metaphor of chain as city, and analyzes the concept of the rise and existing problems of "chain abstraction". Galxe has a unique position in the ecosystem. They distribute resources by gathering upstream and downstream. Its growth history is obviously similar to that of the original Cex. However, in the future competition between parallel EVM chains and non-EVM parallel chains, what heights will Gravity lead users to? It is inevitable to make people curious and continue to examine! Do you copy this homework?”

How much chain abstraction do we really need?

Crypto infrastructure is overinvested. The feedback cycles in infrastructure are too long, which allows the lack of product-market fit (PMF) in this space to be hidden for a long time, much longer than it has been for consumer crypto applications.

The lack of infrastructure establishment at the protocol level has resulted in excess value being captured by venture capital in numerous infrastructure and middleware projects. Layer 1 (L1) creates tremendous value by leveraging the unlimited total addressable market (TAM). Infrastructure projects then want to get as close to L1 valuations as possible because they have their own network consensus, block production, etc.

This is one reason why the crypto infrastructure space is so full of meme culture. Everyone knows the one strategy that works, and the results you’ll get if you follow it:

1. Claim you are expandingBlockchain;

2. Raising too much money from venture capitalists;

3. Announce “partnerships” with other infrastructure projects before your chain goes live;

4. Release a testnet (which may break) and hype some crazy metrics.

5. Invest in the $1 billion to $10 billion market cap rangeToken.

The rise of chain abstraction

Recently, we have observed attempts to further obscureStep 1They no longer claim to expandBlockchain, but turned toChain AbstractionThis sounds like the ultimate holy grail of infrastructure, the cherry on top, the end of the game.

Every infrastructure founder has a natural desire to build a chain. Some people are afraid to admit it.

The question is: if there are no users, who are we providing abstractions for?Chain AbstractionIs venture capitalChain SplitA solution to a problem that was originally caused by the ruthless investment of venture capital.Without a product, chain abstraction is not a real solution to a real problem.It doesn’t even bring about a dramatic change and solution to a new problem for consumers like the Ford or the iPhone did (both of which were qualitative leaps from previous consumer experiences).

Consider that every infrastructure project is created as a response to the solution of the previous one:

1. L1 can’t scale, so we created Rollup;

2. Rollup divides liquidity, so we built a cross-chain bridge;

3. There are too many cross-chain bridges, so we aggregate them;

4. There are so many aggregators, so we built intent;

5. Intent is hard to explain, so we built an intent interpretation layer;

6. … Do you think it will stop here?

User experience and chain abstraction challenges

Chain abstraction may bring some centralization trade-offs, as the stack is only as decentralized as its weakest link. Abstraction requires coordination around state proofs, solver execution, block confirmations, and cross-chain transaction guarantees, so consensus must be reached on this. There is always anotherFaster/ Cheaper/ Newer BuzzwordsThe blockchain abstraction solution will be better than the current one. Founders and VCs will create new rules of the game, but play the same way they always have, to win the same rewards.

Building infrastructure is often a response to poor UX, because high fees and slow settlements are part of the UX problem. But when adoption fails to meet expectations, poor crypto UX becomes an easy excuse to pass the buck. Criticizing UX requires little effort, so everyone is doing it. Whenever a crypto cycle turns to apathy, people blame it on bad products, forgetting that these products were so exciting in the first place that they took us to the top of the market.

In the past, we talked about crypto super apps that started with products rather than infrastructure. Whether it’s Uniswap, Metamask, Magic Eden, StepN, Blur/Blast, dYdX or Hypeliquid, it’s clear thatweb3 The idea of compatibility is being turned on its head. Instead of collaborating on a composable stack, each party builds its own technology stack based on its own incentives. That’s okay.

But it also means that the chain will be abstracted by those who don’t call themselves chain abstractions; instead, it will be those who build the most popular applications in crypto.

The most popular application in the field Galxe

Galxe (formerly Project Galaxy) is the most widely adopted web3 applications, far ahead. Its network traffic exceeds Uniswap, OXiaobai NavigationPensea or Etherscan. Over 20 million unique addresses interact with Galxe. Over 1 million unique visitors use the Galxe website every day.

Before you dismiss this attraction as a bot airdrop extravaganza, consider that every on-chain use case is dominated by bots.TokenTrading is done by bots. Crypto games are played by bots, as they are still primarily driven by financial incentives. NFT market making is done by bots.AI Proxies (smarter bots) are starting to participate in the on-chain economy. Even our social finance darlings rely heavily on bots, making social finance less social. Crypto is about incentives and resource coordination, and so far, bots have proven to be excellent target users for harvesting on-chain incentives. In the future, proxies DAO And UBI is closer than we imagined.

But it doesn’t matter whether the users are robots (it’s worth noting that Galxe’s 1 million daily active users are actual website visitors, not robots); what matters is the amount of economic activity and the value that can be captured as a protocol or application.

Galxe found its entry point in airdrop distribution. But it has come a long way since then, by building out its identity layer including Galxe Passport (identity) and Galxe Score (reputation).

The most successful businesses are those that create new bundles or unbundle everyone. Galxe has aggregated the supply side of projects to buildCommunity并分发他们的代币，需求端是用户寻找赚取代币的机会。之前是中心化exchangecore business by enabling projects to buildCommunity, which has now become a larger market.

We have seen countless early attempts to build platforms that monetize identity or data, but they always fail because they don’t start with a product that people want to use (most users don’t care who owns their data). Galxe builds a unique use case and provides a strong enough financial incentive for people to reveal their identities. Data like this will become valuable in ways we haven’t yet foreseen, especially if policymakers sincerely try to make itcryptocurrencyConsumerization.

Almost 1 million people have already created a Galxe passport using their real-life identity.

Aggregating users not only allows us to build a valuable identity layer, but also consumer type products that would otherwise not be successful as standalone ideas. This includes the Galxe mobile app, money transfer and spending,AI Auxiliary trading products, research centers, etc. Galxe has become the first stop for many new users in the crypto space.

Now the question is:How many valuable products can Galxe build so that these users never have to leave its ecosystem?

Galxe spans 34 different chains. This is probably more than any cross-chain bridge or centralizedexchangeThere is much more that can be integrated.Smart BalanceFunction, users can deposit funds into a single vault and use the balance to pay Galxe SmartcontractTransaction fees on multiple chains, without bridging. Soon,Smart BalanceWill be upgraded to smart savings, enabling users to earn yield on deposited assets.

Many people don’t know that Galxe has been abstracting chains and accounts while people are looking elsewhere. After the just announced launch of Galxe’s Gravity chain, it will become the largest blockchain by transaction activity.Blockchain, with monthly trading volume of approximately US$100 million.

Aggregating user identities, their transactions, and controlling block space is a combined strategy for abstracting chains. To us, it seems that only a few crypto companies - Galxe, Coinbase, and perhaps TON - are fully capable of making consumer-friendlyChain AbstractionAlthough they proceed from different perspectives, the desired result, i.e.BlockchainEntry combined with identity looks the same to us.

Coinbase's Galxe end game has been revealed

We don’t know who needs to hear this, but rebranding in crypto is always bullish. There’s no better ticker than $G.

The article comes from the Internet:Gravity: Unveiling the Ultimate Holy Grail of Chain Abstraction

相关推荐: Renzo 空投分配引社区不满，ezETH 发生严重脱锚

The window of opportunity is short, and only for those who are prepared. Author: Followin On April 24, the popular liquidity re-staking project Renzo officially announced the detailed token distribution rules, but it caused dissatisfaction among many people in the community. The price of Renzo's ETH deposit certificate token ezETH once plunged, and a serious de-anchor occurred, falling to as low as 1600...