Dialogue with dappOS: Easily understand what is the Intent Execution Network?

Guest introduction and project introduction

Isabella: Hello everyone, I am Isabella, co-founder of dappOS. dappOS is an intention execution network that provides users with infrastructure to directly realize their intentions. The so-called realization of intentions means that users can directly obtain the desired results without having to perform tedious operations step by step. The entire process is executed by the nodes in the dappOS network.

Our project was founded in 2022, and was selected into the Binance Labs incubator in the same year, and received investment support from Binance Labs. This year, we also completed the latest round of financing, a Series A round led by Polychain Capital. The team currently has about 40 people, spread all over the world, most of whom are technical developers.

How to understand what is intention

Isabella: This is a great question because it gets to the heart of our discussion - the definition of intent. In our view, intent is mainly about the end result that users want to achieve. For users, they are willing to pay a certain amount of money to get this clear result. There is also an important concept related to this - intent-centric. This concept means that when we design the interaction method of Web3 products, we hope that users can directly realize their intentions without worrying about the specific execution process or steps.

I can use a simple metaphor to illustrate intent and intent-centric interaction. Suppose I am sitting in a car now and I want to go somewhere. This is my intention. In the traditional interaction method, I need to navigate, shift gears, step on the accelerator, brake, turn the steering wheel, and even turn on the turn signal. The intent-centric approach is different. I only need to tell the driver where I want to go, and the driver will be responsible for driving. As for which road he chooses and how to operate the vehicle, I don’t need to worry about it at all. This is what we are doing now - building an underlying infrastructure to help users realize their intentions without requiring them to handle complex intermediate operations themselves.

Our vision is to become the Windows operating system in the Web3 ecosystem. Our current core product is an intent operating system called Intent OS, which allows users to manage their assets and interact with DApps in different scenarios on multiple chains in a simple and convenient way. What supports all of this is our intent execution network. In Intent OS, every task submitted by the user will be converted into an intent and submitted to the intent execution network. There are many professional service providers in the network who will be responsible for executing the users tasks, and the user does not need to care about these specific execution details.

If a service provider fails to perform a task successfully, users can get compensation from the funds staked by the service provider. This approach not only allows users to interact with Web3 applications easily and efficiently, but also ensures security. This is what we understand the functions and potential that a Web3 operating system should have. We are also constantly expanding the ecosystem, optimizing products, and striving to bring the best experience to users.

The intention track is relatively large and complex, and can be specifically divided into sub-tracks; the difference from chain abstraction

Isabella: The track is huge, which actually shows that the market demand for this field is very strong and widespread. Therefore, different people will interpret this track from different perspectives. The more popular discussions now may focus on the two concepts of intention and chain abstraction. Here I hope to explain these two concepts to you.

First, intention-centric means that users can achieve the results they want in a simple and direct way, without having to personally perform complex steps such as every transfer, cross-chain operation or calculation. All these execution tasks are completed by professional third parties. Therefore, intention-centric is a philosophy, a concept and thought, which not only simplifies the users operation process, but also focuses on improving the efficiency of execution, including reducing costs and increasing speed, because these are often part of the users intention.

On the other hand, chain abstraction is a specific adjective used to describe that users do not need to pay attention to details such as gas fees and cross-chain operations. We see chains, accounts, and DApps that do chain abstraction, which all fall into the category of chain abstraction. Under our intent-centric product definition, it actually already naturally covers the characteristics of chain abstraction, because our product design itself does not want users to pay attention to the details on the chain. However, the intent-centric is not limited to this, it also further helps users reduce costs, improve speed and other operational details.

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

Our dappOS belongs to the second category - general-purpose intent infrastructure. Compared with other intent infrastructure projects, we have advantages in some key points. There have been some research and discussions on intent track protocols in the industry before. These discussions often require service providers to disassemble the execution steps on the chain, which makes service providers lack room for execution and cannot provide execution solutions that users cannot implement by themselves. Therefore, compared with users own execution, service providers have no obvious advantages in speed and cost, and sometimes even have disadvantages, and cannot truly meet the complete needs of users.

When we designed the intention execution network of dappOS, we chose to give up the disassembly of the service providers execution process. We focused on the final result that users want to achieve. In this way, service providers have more room to design solutions and can find the best and most efficient execution path in a wider range. Competition between 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 intention execution network or the Web3 operating system, as the scale expands, there will be more and more ecological cooperation projects and service providers, and users will be able to complete more operations in dappOS, with faster execution speed and lower costs. This positive feedback will drive more project parties to cooperate with us.

At present, we have also seen some other intentional architecture projects get financing. However, according to our observation, most of these projects are still in the conceptual stage and are still some distance away from the actual product landing. Our dappOS has not only completed the product landing, but also established a considerable scale of ecosystem. As time goes by, we are confident that we can continue to maintain our leading position, and this advantage will become more and more obvious.

The market calls the intention asset of dappOS web3 Yuebao, so what is the intention asset? How is it different from the income certificate asset such as LRT?

Isabella: Using Yuebao to describe our dappOSs intent assets is very vivid. Let me first explain what dappOSs intent assets are. Intent assets are assets that can allow users to earn income and can be used seamlessly on the chain like native assets under the premise of decentralization and non-custody. For example, if a user holds 1,000 Intent USD, he can directly use these assets to operate on the platform, such as opening a contract on GMX. Users do not need to redeem first like other interest-bearing assets, or complex steps such as cross-chain operations. If the user does not have a demand for use for the time being, he can also enjoy an interest rate similar to more than 10% annualized.

For many traditional income certificate assets, such as LRT, users usually need to redeem them if they want to use them. In this process, they often have to wait for a while, and sometimes have to endure high slippage, which will cause a lot of inconvenience to users. However, our intention assets do not have these problems. It allows users to use these assets directly on the chain without redeeming them.

I think it is natural for the market to compare us with Yue Bao, because our intended assets do have similar advantages compared to some current financial products in the industry. Although ordinary money funds also have immediate returns, the funds cannot be used for consumption or transfers immediately after they are put in, unless they are redeemed first. The redemption process may take some time, and additional transfer operations may be required after the redemption is completed. In Yue Bao, the advantage that everyone is familiar with is that users can not only obtain the returns of money funds, but also use the funds in Yue Bao to pay or transfer at any time. You only need to scan a QR code, and the money in Yue Bao can be used for payment. Compared with some traditional current financial products, this provides a smoother user experience.

Our intention assets are like the funds in Yuebao, which can not only generate income on the chain, but also be used seamlessly like native assets. Users can use intention assets on the chain at any time to perform various operations, just as convenient as spending money in a bank card.

Another thing I want to emphasize is that Intent Assets are decentralized and non-custodial in nature. Its security is guaranteed by decentralized on-chain contracts. The bottom layer of Intent Assets consists of a series of underlying assets, which is essentially a withdrawal voucher. Users can call the contract to mint or redeem without the permission of dappOS. This means that users can enter and exit freely without worrying that we will set up any mechanism to hinder user redemption.

In addition, this design has another benefit. Even if a single underlying revenue asset has a problem, the impact on users will be very small. Because our intended assets are composed of multiple underlying assets, there will be no single point of failure. And the underlying assets we are currently using are all very large projects, such as those that have been listed on Binance or have a TVL of more than one billion US dollars, such as Pendle, BounceBit and EtherFi, which greatly improves security and reliability.

Can intent assets be used in DeFi like native assets?

Isabella: Of course, intent assets can be used at any time in various scenarios, and this is guaranteed by our dappOS Intent Execution Network. I can explain in more detail that when a user wants to redeem or use an intent asset, the operation behind it is actually that the user submits a request to the Intent Execution Network. At this time, various service providers will respond to this request and execute the operation, and service providers will also compete to ensure that the users needs can be executed in the most efficient and cheapest way.

The scope of use of intent assets is very wide, not only limited to direct transfers, but also includes decentralized exchanges such as DEX and interactions with various platforms. For example, if you want to open a contract on GMX, you can directly enter GMX in our Intent OS and use your intent assets to operate. dappOS will automatically send your needs to the intent execution network, and service providers will bid freely to obtain tasks and then execute your operations.

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

Therefore, the intention execution network of dappOS actually empowers individual users with institutional-level professional execution capabilities. In this way, all users can enjoy a better experience of using intention assets, both in terms of operational efficiency and cost control.

Currently, the intended assets of dappOS are mainly ETH, BTC and USDT/C stablecoins. Will more intended assets be introduced in the future? What are the standards for introduction?

Isabella: When we consider introducing new intent assets, we evaluate them from two main perspectives.

First, we will consider whether the acceptance and application scenarios of the asset are wide enough. We hope to choose assets that are widely accepted among users and have practical applications in different scenarios. Only in this way can users use these assets seamlessly in multiple on-chain scenarios, which is in line with our philosophy of the intended execution network.

Secondly, we will see whether the asset is backed by a well-known large project and whether its yield is attractive enough. If an asset has a high yield and is backed by a reliable and reputable project, then it will naturally meet our criteria for introducing new assets.

In addition, we are also considering some public chain tokens. These tokens have large application scenarios and market demand, so they will become the asset category we may introduce next.

DappOS has previously conducted some promotional activities with Binance Web3 Wallet. What was the final effect? Are there any promotional plans for users in the future?

Isabella: I am very happy to report our achievements to you. We think this promotion was very effective and we are very grateful for your support. First of all, I want to tell you very transparently that we attracted more than 200,000 new users to experience our products. Of course, in this process, it is inevitable that some wool party users come just to get rewards, but what is gratifying is that we found that after completing the task, the average funds retained by these users within two weeks were about US$50. Not only did they not lose money, but they even increased. For us, this is undoubtedly a very positive signal, proving that our products have indeed improved the users operating experience.

In addition, this event is also an attempt to further cooperate with the Binance ecosystem, including cooperation with Binance Web3 wallet, BNB Chain and other projects. The Binance ecosystem is undoubtedly a very important force in the current industry, and we will continue to promote in-depth cooperation with Binance and its ecosystem. In addition, this event not only increased the popularity of dappOS, but many industry media and KOLs noticed our popularity and studied and evaluated our work from different perspectives. At the same time, they also gave us a lot of valuable suggestions and feedback.

Next, our marketing plan is mainly divided into two aspects. First, we will continue to carry out joint interactive activities with various well-known DApp projects, which is our Rocket Campaign series. These activities guide users to interact with dappOS and cooperative projects, and directly distribute rewards after the event. In addition, we will also launch some large-scale promotional activities regularly, especially when new products are launched, such as the launch of intent assets this time. In the future, we also plan to launch an intent exchange, which will optimize the intent of very popular transactions on the current chain and bring users a smoother experience. Everyone can look forward to it.

dappOS roadmap; more information about the Intent Exchange; what the endgame of the Intent Network looks like

Isabella: Our future plans are currently focused on two core aspects.

First, we will focus on forward-looking optimization and product expansion, with the goal of meeting user needs more deeply and comprehensively. We will continue to explore the needs that are not fully met in the current market and launch revolutionary products based on the intent execution network. For example, the intent assets we have launched and the intent exchange that will be launched soon are both important attempts in this direction. Through these products, we hope to gradually release the technical potential of the dappOS intent infrastructure, so as to truly change the user experience and bring practical and meaningful value to the entire industry.

Secondly, we will strategically expand our ecological cooperation and user base to build strong scale and network effects. We plan to continue to attract more top projects to join our ecosystem, while rapidly expanding our user base to make our intentional operating system an important cornerstone in the Web3 world. In our vision, the ultimate goal of the intentional network is to become the Windows of the Web3 world. We hope that in the future, every user will be inseparable from dappOS in any operation and interaction of Web3, and will be able to enjoy the convenience and efficiency it brings.

Vision and original intention

Isabella: I would also like to add a little bit about why I initially chose to go in this direction. In fact, before this, I had been working in a large technology company in Silicon Valley and worked as a software engineer at Google. Some of the products I have participated in, such as Google Search, Google Maps, Google Mail, and YouTube, are products with billions of users around the world. When working on these projects, I deeply realized that for a technology or product to truly generate huge value, it must be able to allow enough users to enjoy the convenience it brings and provide an excellent user experience. I believe that this is the mission of the mature development of technology.

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

I firmly believe that a technology can only have real vitality if it creates real value for users and brings real convenience. This is why I have been working hard in this direction. And fortunately, my team is also working hard towards this goal and mission. Therefore, we hope that everyone can pay more attention to us. 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.