Thoughts on the adoption wave we are currently in:
While every speculative era drives opportunists onchain, I believe this wave will be the 'stickiest' yet.
Why?
A few reasons. First, we can all agree that a rise in speculation creates substantial demand increase for blockspace onchain.
In previous eras, we struggled to manage this and really left a bad taste in a lot of newcomers mouths because of extremely high fees or bad UX (mostly on Ethereum L1, but also on EVM altL1s + L2s, where RPCs, nonces, tx IDs etc were a massive pain).
We now have the necessary infra & improved UX to win over much stickier adoption than ever before. Solana just managed a $600M ICO onchain. We have hundreds of fast chains. We have altDA. We have chains like Monad, MegaETH, Fogo and others launching.
Privy changed the game for onchain UX. Phantom wallet is the easiest onboarding for any normal person on mobile. It's all there.
Next, the perception around crypto has shifted notably, specifically around institutional demand. These players think far longer-term than the average retail participant. They will only get involved if they can forecast out results over a 5+ year period.
Sure, many of the treasury companies will likely have a bad run and lots of us are critical about it, but the folks coming onchain focused on RWAs, stablecoins, and tokenization are playing a different game.
This is stickiness.
Finally, the opportunities we have available for users is far wider. You can do social apps, InfoFi, DeFi, NFTs, games, tap trading, prediction markets, stablecoin yields, tokenized equities, and much much more.
This 'breadth' of possibilities makes it far more likely users will stick around and keep assets onchain than they previously would've.
Our biggest goal is to increase the long-term retention every speculative boom brings, to build the pie of onchain users.
In my view, we will see much higher retention rates over the next 12-18 months than any previous era.
Onwards and upwards.
Show original5.5K
66
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.