Dialogue dappOS: Easily understand what is an intention execution network?

Editor: Wu Says Blockchain

Guest Introduction and Project Overview

Isabella: Hello everyone, I am Isabella, co-founder of dappOS. dappOS is an intent execution network specifically designed to provide users with the infrastructure to directly realize their intents. The so-called "realizing intent" means that users can obtain the desired results directly without having to execute the cumbersome intermediate operations step by step. The entire process is executed by nodes in the dappOS network.

Our project was established in 2022 and was selected for the Binance Labs incubator the same year, receiving investment support from Binance Labs. This year, we also completed our latest round of financing, with a Series A round led by Polychain Capital. Currently, our team consists of about 40 people spread across the globe, the vast majority of whom are technical developers.

Understanding "Intent"

Isabella: This is a great question because it touches on the core of our discussion—the definition of intent. In our view, intent primarily refers to the final result that users want to achieve. For users, they are willing to pay a certain fee to obtain this clear result. An important related concept is "intent-centric." This concept means that when we design the interaction methods for Web3 products, we want users to be able to directly realize their intents without worrying about the specific execution processes or steps.

I can illustrate the concept of intent and intent-centric interaction with a simple analogy. Suppose I am sitting in a car and I want to go somewhere; that is my intent. In traditional interaction methods, I need to navigate, shift gears, press the accelerator, brake, turn the steering wheel, and even signal. In contrast, the intent-centric approach is different; I only need to tell the driver where I want to go, and the driver will take care of driving. I do not need to worry about which route to take or how to operate the vehicle. This is what we are currently doing—building an underlying infrastructure to help users realize their intents without requiring them to handle complex intermediate operations.

Our vision is to become the "Windows operating system" of the Web3 ecosystem. Our current core product is an intent operating system called Intent OS, which allows users to manage their assets and interact simply and conveniently with various DApps across multiple chains. Supporting all of this is our intent execution network. In Intent OS, every task submitted by users is transformed into an intent and submitted to the intent execution network. Many professional service providers in the network are responsible for executing users' tasks, and users do not need to worry about these specific execution details.

If a service provider fails to execute a task successfully, users can receive compensation from the funds staked by the service provider. This method not only allows users to interact with Web3 applications easily and efficiently but also ensures security. This is the functionality and potential we believe a Web3 operating system should possess. We are also continuously expanding our ecosystem and optimizing our products to provide users with the best experience.

The Intent Track is Quite Large and Diverse; What Specific Sub-Tracks Can It Be Divided Into? How Does It Differ from Chain Abstraction?

Isabella: The track is large, which actually indicates a strong and broad market demand in this field. Therefore, different people will interpret this track from different perspectives. Currently, popular discussions may focus on the concepts of "intent" and "chain abstraction," and I hope to explain these two concepts to everyone.

First, intent-centric means that users can achieve their desired results in a simple and direct manner without having to personally execute complex steps such as transfers, cross-chain operations, or calculations. All these execution tasks are handled by professional third parties. Therefore, intent-centric is a philosophy, a conceptual idea that not only simplifies users' operational processes but also emphasizes improving execution efficiency, including reducing costs and increasing speed, as these are often part of users' intents.

On the other hand, chain abstraction is a specific adjective used to describe a situation where users do not need to focus on details such as gas fees and cross-chain operations. We see chains, accounts, and DApps that are doing chain abstraction, all of which fall under the category of chain abstraction. Under our intent-centric product definition, it inherently encompasses the characteristics of chain abstraction because our product design itself does not want users to focus on on-chain details. However, intent-centric is not limited to this; it further helps users reduce costs and improve efficiency in operational details.

In short, we believe the concept of intent is broader; it encompasses chain abstraction and is more comprehensive. In the intent track, projects can be roughly divided into two categories: one focuses on specific scenario intent solutions, such as some cross-chain protocols like Across protocol or decentralized exchange trading solutions like CowSwap. These projects focus on intent solutions in specific scenarios. The other category is general intent infrastructure, which aims to help users improve the operational efficiency of the entire Web3 ecosystem in a more comprehensive way and lower operational barriers.

dappOS belongs to the second category—general intent infrastructure. Compared to other intent infrastructure projects, we have advantages in some key points. There have been discussions in the industry regarding intent track protocols, which often require service providers to break down the execution steps on-chain, limiting their flexibility in execution and preventing them from providing execution solutions that users cannot achieve themselves. Therefore, compared to users executing themselves, service providers do not have significant advantages in speed and cost, and sometimes may even have disadvantages, failing to meet users' complete needs.

When designing the intent execution network of dappOS, we chose to abandon the breakdown of the execution process by service providers; we focus on the final results users want to achieve. This way, service providers have more space to design solutions and can seek the optimal and most efficient execution paths across a broader range. The competition among service providers can also allow users to enjoy lower execution costs and faster execution speeds.

In addition, dappOS also has scale effects and network effects. Whether it is the intent execution network or the Web3 operating system, as the scale expands, the number of projects and service providers cooperating in the ecosystem will increase, allowing users to complete more operations in dappOS, with faster execution speeds and further reduced costs. This positive feedback will encourage more project parties to be willing to cooperate with us.

Currently, we also see some other intent architecture projects receiving funding. However, based on our observations, most of these projects are still in the conceptual stage and are some distance away from actual product implementation. In contrast, dappOS has not only completed product implementation but has also established a considerable ecosystem. Over time, we are confident that we can maintain our leading position, and this advantage will become increasingly apparent.

The Market Refers to dappOS's Intent Assets as "Web3 Yu'ebao"; What Are Intent Assets? How Do They Differ from Yield Certificates Like LRT?

Isabella: Comparing our dappOS intent assets to Yu'ebao is very apt. Let me first explain what dappOS's intent assets are. Intent assets are assets that allow users to earn returns in a decentralized and non-custodial manner while being seamlessly usable on-chain like native assets. For example, if a user holds 1,000 Intent USD, they can directly use these assets on the platform, such as opening contracts on GMX. Users do not need to redeem or perform complex steps like cross-chain operations as they would with other yield-bearing assets. If users temporarily do not have a usage need, they can also enjoy interest rates similar to over 10% annually.

For many traditional yield-bearing assets, such as LRT, users typically need to perform a redemption operation to use these assets. This process often requires waiting for a period, and sometimes users have to endure high slippage, which can be very inconvenient. Our intent assets do not have these issues. They allow users to use these assets directly on-chain without redemption.

It is very natural for the market to compare us to Yu'ebao because our intent assets indeed have similar advantages compared to some previous on-demand financial products in the industry. While ordinary money market funds also offer instant returns, funds cannot be immediately used for consumption or transfers once deposited unless redeemed first. The redemption process may require waiting for a period, and after completing the redemption, additional transfer operations may be necessary. In Yu'ebao, the well-known advantage is that users can not only earn returns from the money market fund but also use the funds in Yu'ebao for payments or transfers at any time. You just need to scan a QR code, and the money in Yu'ebao can be used for payments. This provides a smoother user experience compared to some traditional on-demand financial products.

Our intent assets are like the funds in Yu'ebao; they can earn returns on-chain and be seamlessly used like native assets. Users can perform various operations on-chain with intent assets at any time, just as conveniently as using money in a bank card for consumption.

Another point I want to emphasize is that intent assets are essentially decentralized and non-custodial. Their security is guaranteed by decentralized on-chain contracts. The underlying structure of intent assets consists of a series of underlying assets, essentially functioning as a withdrawal certificate. Users can call contracts for minting or redeeming without needing permission from dappOS. This means users can freely enter and exit without worrying about us setting up any mechanisms to obstruct their redemptions.

Moreover, this design has the benefit that even if a single underlying yield asset encounters issues, the impact on users will be minimal. This is because our intent assets are composed of multiple underlying assets, avoiding single points of failure. Additionally, the underlying assets we currently use are all large projects, such as those listed on Binance or projects with TVL exceeding one billion dollars, like Pendle, BounceBit, and EtherFi, greatly enhancing security and reliability.

Can Intent Assets Be Used in DeFi Like Native Assets?

Isabella: Absolutely, intent assets can be used in various scenarios at any time, and this is guaranteed by our dappOS intent execution network. I can explain in more detail that when users want to redeem or use intent assets, the operations happening behind the scenes are actually users submitting a request to the intent execution network. At this point, various service providers will respond to this request and execute the operations, and there will be competition among service providers to ensure that users' needs are executed in the most efficient and cost-effective manner.

The scope of use for intent assets is very broad, not limited to direct transfers but also including decentralized exchanges (DEX) and interactions with various platforms. For example, if you want to open a contract on GMX, you can directly enter GMX within our Intent OS and use your intent assets for operations. dappOS will automatically send your request to the intent execution network, where service providers will bid freely to obtain the task and then execute your operation.

These professional service providers often have better execution methods than ordinary individual users. For example, in the scenario of redeeming LRT, professional service providers can first cover the funds needed for users' redemptions through low-cost loans and then redeem as large holders with the project party. This method can avoid slippage losses caused by insufficient on-chain liquidity.

Therefore, the dappOS intent execution network actually empowers individual users with institutional-level professional execution capabilities. In this way, all users can enjoy a higher quality experience when using intent assets, improving both operational efficiency and cost control.

Currently, dappOS's Intent Assets Mainly Include ETH, BTC, and USDT/C Stablecoins. Will More Intent Assets Be Introduced in the Future? What Are the Criteria for Introduction?

Isabella: When considering the introduction of new intent assets, we evaluate mainly from two aspects.

First, we consider whether the asset has sufficient acceptance and application scenarios. We want to choose assets that are widely accepted among users and have practical applications in different scenarios. Only in this way can users seamlessly use these assets across multiple on-chain scenarios, which aligns with our intent execution network philosophy.

Second, we look at whether the asset is supported by well-known large projects and whether its yield is attractive enough. If an asset has a high yield and is backed by reliable, reputable projects, it will naturally align more with our criteria for introducing new intent assets.

Additionally, some public chain tokens are also within our consideration range, as these tokens have significant application scenarios and market demand, making them potential asset categories for future introduction.

dappOS Previously Conducted Some Promotional Activities with Binance Web3 Wallet. What Were the Results? Will There Be Any Future User-Facing Promotional Plans?

Isabella: I am pleased to report our results. We believe this promotional activity was very successful, and we are very grateful for everyone's support. First, I want to transparently share that this activity attracted over 200,000 new users to experience our product. Of course, during this process, there were inevitably some "arbitrage" users who came just for rewards, but encouragingly, we found that these users had an average fund retention of around $50 within two weeks after completing tasks, showing not only no loss but even growth. For us, this is undoubtedly a very positive signal, proving that our product has indeed enhanced the user experience.

In addition, this activity was also an attempt to further collaborate with the Binance ecosystem, including partnerships with Binance Web3 Wallet, BNB Chain, and other projects. The Binance ecosystem is undoubtedly a significant force in the current industry, and we will continue to promote deep cooperation with Binance and its ecosystem. Moreover, this activity not only increased dappOS's visibility, but many industry media and KOLs also noticed our momentum and studied and evaluated our work from different angles. They also provided us with valuable suggestions and feedback.

Moving forward, our marketing plans are mainly divided into two aspects. First, we will continue to conduct joint interaction activities with various well-known DApp projects, which is our Rocket Campaign series. These activities guide users to interact with dappOS and partner projects, directly distributing rewards after the events conclude. Additionally, we will regularly launch some large promotional activities, especially when new products are launched, such as the recent launch of intent assets. In the future, we also plan to introduce an intent exchange, which will optimize current popular on-chain transactions for intent, providing users with a smoother experience that everyone can look forward to.

dappOS Roadmap; More Information About the Intent Exchange; What Is the Ultimate Goal of the Intent Network?

Isabella: Our future plans currently focus on two core areas.

First, we will focus on forward-looking optimization and expansion of products, aiming to meet users' needs more deeply and comprehensively. We will continue to explore unmet needs in the current market and launch revolutionary products based on the intent execution network. For example, the intent assets we have launched and the upcoming intent exchange are significant attempts in this direction. Through these products, we hope to gradually unleash the technical potential of the dappOS intent infrastructure, truly transforming user experience and bringing practical and meaningful value to the entire industry.

Second, we will strategically expand ecosystem cooperation and user base, building strong scale effects and network effects. We plan to continuously attract more top projects to join our ecosystem while rapidly expanding our user base, making our intent operating system an essential cornerstone in the Web3 world. In our vision, the ultimate goal of the intent network is to become the "Windows" of the Web3 world. We hope that in the future, every user will rely on dappOS for any operation and interaction in Web3, enjoying the convenience and efficiency it brings.

Vision and Original Intention

Isabella: I would also like to add why I initially chose to pursue this direction. Before this, I had been working at major tech companies in Silicon Valley, serving as a software engineer at Google. Some of the products I participated in, such as Google Search, Google Maps, Gmail, and YouTube, are all products with over a billion users worldwide. While working on these projects, I deeply realized that for a technology or product to truly generate immense value, it must enable a sufficient number of users to enjoy the convenience it brings and provide an excellent user experience. I believe this is the mission of mature technological development.

As a technical worker, I have always hoped to take this mission as my life goal. I want to bring convenience and a very friendly, smooth user experience to the Web3 world, just like in Web2. I want Web3 to no longer be just a small circle or niche field but to serve more users.

I firmly believe that a technology only has true vitality when it creates real value for users and brings tangible convenience. This is also the reason I have consistently worked hard in this direction. Moreover, I am very fortunate that my team is also working towards this goal and mission. Therefore, we hope everyone can pay more attention to us, and in the future, we will launch more products and hold more events, hoping to bring the next level of user experience to the industry together.