Understanding dappOS in One Article: Polychain Leads $15.3 Million Financing for Intent Execution Network

Author: 0xdabai

The rapid expansion of blockchain technology has brought both opportunities and challenges in achieving scalability and usability within an increasingly fragmented ecosystem. The intent-centric execution network dappOS innovatively introduces the Optimistic Minimum Staking mechanism to enhance interaction efficiency at a low cost and with security.

By the end of March 2024, dappOS raised $15.3 million in Series A funding led by Polychain, achieving a valuation of $300 million. Previously, dappOS completed a seed round of financing, receiving investments from well-known institutions such as Binance Labs and Sequoia China.

Keywords: dappOS, infrastructure, intent-centric, optimistic minimum staking, Polychain

Ethereum founder Vitalik proposed in his keynote speech at the 2024 Hong Kong Web3 Carnival that the future Ethereum ecosystem will be Layer-2 Centric.

As blockchain technology continues to evolve, usability and scalability are the focal points of current infrastructure. The rise of numerous L1 and L2 solutions marks the beginning of a new era. L1 blockchains are foundational networks, such as Bitcoin and Ethereum, where all transactions are processed directly on-chain. However, as these networks grow, congestion and scalability challenges arise.

L2 solutions, such as Bitcoin's Lightning Network and Ethereum's OP Rollups, aim to alleviate scalability issues by processing transactions off the main chain while ensuring their security is still guaranteed by the underlying L1 blockchain.

However, the prosperity of L1 and L2 has also brought new problems, namely the fragmentation and disconnection between blockchain ecosystems. At the same time, the high valuations of L1 and L2 blockchains can lead to the emergence of new blockchains, attracting significant investment. This growth is expected to further fragment the Web3 ecosystem, making usability and interoperability a daunting task.

The emergence of decentralized applications (DApps) like Web3 games and Web3 social is drawing users from the traditional Web2 world. These new users, unfamiliar with the complexities of blockchain technology, seek simplified workflows and intuitive interfaces. Therefore, a solution and infrastructure that cater to their usage habits is extremely necessary.

dappOS: Raised $15.3 million, launching the intent execution network

In response to the urgent need for simplified, user-centric infrastructure, a solution that carries the hope of bridging the gaps within the fragmented ecosystem has emerged. dappOS, as an intent execution network, has secured $15.3 million in funding in its Series A round led by Polychain, with the company valued at $300 million.

This round of financing led by Polychain includes contributions from a diverse group of investors, including Nomad Capital, IDG, Flow Traders, and NGC. The funds will be used for further technological research and development.

Previously, dappOS was selected for the 5th season of the Binance incubation program in December 2022 and received seed round investments from Binance Labs and Sequoia China in July 2023.

The project addresses the supply and demand issues within the blockchain ecosystem by creating a bilateral market. On one hand, service nodes stake collateral to provide various intent execution services. On the other hand, it offers developers an infrastructure to efficiently generate intent tasks to meet users' needs for converting intent into on-chain results.

OMS: Optimistic Minimum Staking Mechanism, an Innovative Security Solution

To enhance efficiency and versatility, dappOS introduces the Optimistic Minimum Staking (OMS) mechanism.

OMS requires each task to be associated with a predefined value and potential compensation in case of failure, allowing tasks to be executed before verifying results. If a task fails, the network punishes the responsible service provider through a consensus process, ensuring that either the user-submitted task is executed successfully, or the user receives the predetermined compensation.

dappOS's OMS system benefits both service nodes—who only need to stake a minimum collateral slightly above the total value of uncompleted intent tasks—and users—who enjoy cost-effective and rapid task execution. The post-task verification process promotes decentralized verification strategies, enhancing the network's efficiency and security when handling diverse use cases.

With over 20 deep collaboration projects, including GMX, BENQI, and QuickSwap, dappOS has accumulated more than 350,000 users.

In the rapidly expanding and complex blockchain ecosystem, dappOS offers a smooth, user-centric blockchain interaction solution. Its innovative approach promises to redefine how users and developers interact within increasingly fragmented blockchain networks and application scenarios.