【Avacus】web3 super app / web3 SNS with multi-chain wallet, encrypted chat, and everything!
We may be approaching a future where we can do everything in life with web3.
Good morning.
This is Mitsui, a web3 researcher.
Today I researched "Avacus.
«Table of Contents»
1. What is Avacus?
- Functions
- Establishment Background / Solution Problem
- Solution
- Roadmap
2、I want to live on the web3
What is Avacus?
Avacus is a web3 social networking service that includes a multi-chain mobile wallet and DApps browser designed to be easy to use for beginners in crypto assets.
■Functions
Multi-chain compatible wallet
Dapps browser
Encrypted chat
Send, receive, view, and manage FTs and NFTs
With support for multiple public chains, users can manage all FTs and NFTs they own and send/receive them between users. In addition, the ability to search and use Dapps in the in-app browser eliminates the need to connect wallets one at a time and allows users to use Dapps securely.
And one of the more significant features is the ability to exchange "encrypted chats". Chat (text, images, files, video, and audio) can be exchanged between users without being censored by the PF side. Furthermore, since user information is tied to the wallet, it is possible to send FTs and NFTs to each other in the chat.
■Background of Establishment / Solution Problem
Avacus.app is an application that Avacus has been offering since October 2021.Avacus had been offering an application called Avacus.io since 2017, but pivoted in 2020, leading to the current app.
The Avacus.app was founded with the goal of becoming a platform for living with crypto assets in a web3 world. It is a world where you can make a living using only your handle.
However, there are three reasons why this is currently not possible.
Lack of means of communication
There is not much that can be done with Dapps
Lack of convenience of payment with crypto assets
Let me explain one by one.
○Lack of means of communication
In the current web3 industry, there are not many means of communication that can be seamlessly connected to the web3. The financial side is done through web3, and communication is mostly done through web2.0 services (Twitter, Discord).
In this case, in addition to message censorship and PF risk, the wallet is not tied to the communication service, so you need to ask for the wallet address for every NFT or FT exchange. This is both time-consuming and insecure.
Communication and finance are completely separated.
○There is not much that can be done with Dapps
Currently Dapps are mainly finance and games, and there are no Dapps that can provide everything in life. The image is that only banks and art galleries exist in the wilderness.
○Lack of convenience of payment with crypto assets
There are too many blockchains and currencies tied to them, and no established way to seamlessly purchase them in the real world.
Avacus.app was created to solve these problems and allow people to live in the web3 world.
■Solutions
In response to the above three issues, the following three solutions have been adopted.
A web3SNS with multi-chain support
A new advertising mechanism to foster a variety of Dapps
A mechanism for seamless settlement of any crypto asset
Explanation.
○A web3SNS with multi-chain support
The problem has been the separation of communication and finance, so a function has been added to allow them to be done together. This is similar to the functionality described above: FT and NFT management, Dapps browser and chat functionality are both available.
Group chats as well as individual chats are possible, and the ability to visualize social graph relationships (follow/follow relationships) in NFT is also present.
In the future, more communication functions will be added, such as a community function that allows users to create followers-only chat rooms utilizing these social graph NFTs, and a function that allows users to create official channels like Discord.
○A new advertising mechanism to foster a variety of Dapps
The reason why most of the existing Dapps are in the financial domain is because it is difficult to monetize in other areas. The only model that was possible was to receive commissions from DeFi and other money transfers.
Therefore, we offer a new advertising model that preserves the web3 philosophy. This system allows NFT publishers to solicit reward advertisements to NFT holders, and ad-subscribers to send reward advertisements to NFT holders who are eligible to receive them.
The new revenue model for Dapps will help the development of a wide variety of Dapps.
○A mechanism for seamless settlement of any crypto asset
A feature called SwapPay will be implemented to enable seamless settlement regardless of the type of asset or chain. Any token that exists in the DEX, whether it is a public chain token or a DAO token, will be able to be used for payment.
These are the three solutions.
■Roadmap
The future outlook is basically to promote the three solutions listed above, but the founders have stated that they will focus their efforts on the following three areas in the following order.
(1) Realization of the concept of "MicroDAOs," a new way of thinking about DAOs.
(2) Creation of a "social graph" based on user attributes without relying on personal information
(3) Create an income model other than service fees for Web3 and create a world where a variety of DApps are born.
https://note.com/matsukabu/n/nc12afd92c316
MicroDAOs is a term coined to refer to very small-scale, short-term DAOs, as opposed to conventional large-scale, long-term DAOs.
It appears that a function that allows MicroDAOs to be quickly launched on an app will be implemented.
Once the MicroDAOs are created on the app, the activities of the MicroDAOs will be inscribed in the blockchain, and a social graph will be created. Once the social graph is created, it will be possible to run the "new advertising model" described earlier and support the development of various Dapps.
The result is a world where everything in life is possible in the web3 world.
I want to live on web3.
This was a very exciting product.
As was mentioned in the product's "Sense of Challenges," most of the current web3 industry is using web2.0 platforms for its communication and credit management.
I felt like I was living in the web 2.0 world and occasionally touching the web 3 world.
Perhaps I am not fully imagining a world where everything is web3, but I think that life would be very easy and enjoyable.
I don't know if the whole world will come to the web3 world, but I hope that at least those who wish to do so will be able to live in the web3 world.
I am thinking about what kind of world it will be, and I will continue to do my best to contribute to its development.
For now, I will download and use it myself!
That was my research on "Avacus. If you found the article interesting, I would appreciate it if you could help me by liking, commenting, and sharing it on social networking sites!
«Reference Link»
Disclaimer: This is written after careful examination of researched information, but since it is privately operated & the source is often in English, there may be some mistranslated or incorrect information. Please understand that some information may be mistranslated or incorrect. Also, we may introduce Dapps, NFTs, and tokens in the articles, but we do not have any solicitation purpose. Please purchase and use all at your own risk.
Writer
mitsui@web3researcher
Daily information about web3 (projects, news, explanations of vocabulary, interviews with project owners, and articles about learning and thinking from research).
※This is a translation of a Japanese article, so I apologize for any unnatural English.