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Leading the Web3 wallet race, OKX Wallet has three core product perspectives.

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Protecting user asset security, meeting user needs, and continuously innovating.

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Source: OKX

Musk, Jobs, and Zhang Xiaolong are undoubtedly the "godfathers" of product managers, who created the technology giants of the Web2 era - Tesla, the world's highest-valued car company, Apple, the world's highest-valued technology company, and WeChat, the communication platform with the most users worldwide. Their product philosophies, such as returning to the first principles of a problem, never-ending innovation, and starting from meeting people's needs, have deeply influenced generations of product managers. Even in the transition from Web2 to Web3, these product philosophies remain universal.

In leading Web3 products like OKX Web3 Wallet, one can intuitively feel the innovative and user-oriented product concepts inherited and developed from the Web2 era. As a product of "OKX", OKX Wallet team bears both the halo and burden of the brand, and is destined to shoulder higher and more demanding expectations while gaining attention through the OKX brand. In the environment where MetaMask is leading and similar products are competing with each other, the OKX Web3 Wallet team has meticulously crafted the product, from the smallest UI details to the product model and strategy, step by step, and devoted themselves to research. Finally, after three years of development, they have become the builder and leader of the Web3 wallet track, with almost all of the top 100 DeFi protocols on the DefiLlama platform integrated into the OKX Web3 Wallet.

In 2008, influenced by the decentralized idea brought by Bitcoin, the awareness of personal data sovereignty and trust began to awaken, and the Web3 trend was unstoppable. Freedom and fairness ultimately became the choice of the times. As the current leading Web3 product, this article will explore a new Web3 product concept from the OKX Web3 wallet as a clue, including the user perspective, values, and worldview embedded in the product.

深入理解并满足用户需求

translates to:

In-depth understanding and meeting user needs

"Every day, 500 million people criticize what we do, and another 100 million people want to teach me how to make products," said Zhang Xiaolong, the founder of WeChat, in his 2019 WeChat Open Class speech. Despite the many voices, Zhang Xiaolong has the most say in product observation in China. Tencent's Q3 2022 financial report shows that WeChat has a monthly active user base of 1.309 billion.

Zhang Xiaolong once talked about his views on WeChat products, saying that many times when we develop products, we only satisfy users' "functional needs". Products developed in this way are not useless, but their value is limited. However, if the product you develop not only satisfies users' "functional needs", but also satisfies their "psychological needs", such as greed, anger, and ignorance deep within human nature, then your product has the foundation to become popular.

The ultimate goal of Web2 products is to satisfy human needs, that is, to understand and meet user needs. This product concept also applies to Web3. Regardless of whether Web3 is pursuing fairness and freedom, trust transformation, or something else, returning to the essence of the product is still to serve users. However, many Web3 products are deviating from their essence, some are pursuing Web3 for the sake of Web3, some are pursuing decentralization for the sake of decentralization, or passively iterating to follow competitors, and so on, not based on user needs. For example, many Web2 gamers are not interested in "P2E" blockchain games, but many crypto enthusiasts express their love for them, which means that "P2E" may not be the demand of Web2 gamers. Products should start by understanding the needs of their target users.

OKX Web3 wallet always starts from user needs and quickly refines them into product requirements, rather than using its own needs as user needs. In fact, this product perspective is consistent with Musk's first principle of returning to the essence of the problem. For example, for many crypto users, they want to obtain potential airdrops through early project interactions, that is, low-cost and low-risk potential high returns, but there are many inconveniences such as difficult project screening and long time consumption. To this end, OKX has launched a one-stop DApp exploration and reward interaction platform-Cryptopedia, which regularly launches activities with different blockchain networks as themes, and sets DApp interaction tasks together with corresponding partners, so as to help users reduce search costs and accurately interact with fragmented time.

For example, many users want to participate in on-chain investments, but on-chain projects are mixed and cannot form intuitive comparisons. OKX Web3 wallet has launched the DeFi section, which is a one-stop on-chain investment platform. It aggregates multiple investment products from 10+ public chains, 60+ projects, and 200+ protocols, supports V3 liquidity pools, one-click cross-currency investment, automatic income calculation, and more gas savings, making DeFi investment extremely simple.

The Web3 industry itself is an existence that transcends frameworks, and there is a lack of referenceable information. It requires a deep understanding of technology, users, and application scenarios to truly create valuable services. The OKX Web3 wallet team has been early to break free from the framework and has consistently put users at the core, ultimately winning the trust of industry partners and users.

According to September 20th, OKX Web3 Wallet released its latest ecosystem overview, which shows that its wallet section has connected to over 70 public chains, supports over 120 DeFi protocols, and aggregates over 30 NFT marketplaces. It also supports multiple ecosystems such as Game, Social, MEME, Tool, with a total of over 300 supported platforms and protocols.

保护用户资产安全是第一原则

translates to:

Protecting user asset security is the first principle

What is the second step after meeting user needs? Undoubtedly, product security. Just as safety is the lifeline of car companies such as Tesla, protecting user asset security is also the first principle of OKX Web3 wallet. Web3 solves the trust issue through decentralization, but also faces a trust crisis due to frequent on-chain security incidents and incomplete decentralization. As the main tool for managing user assets, Web3 wallets bring back personal data sovereignty, but also face on-chain and off-chain security risks such as lost or stolen private keys, airdrop scams, problematic contracts, phishing links, etc.

Since its launch, OKX Web3 Wallet has gradually built a 24/7 strong product security system and maintained a zero security incident record. The security issues of the wallet itself can mainly be divided into two categories. For users, the main issue is the loss or theft of private keys. For the wallet, the issue is more about embezzlement of user private keys and self-theft. Regarding the issue of whether the wallet has a "self-theft" problem, OKX Web3 Wallet proves that it has not embezzled user private keys through the most direct multi-chain signature SDK open source, MPC non-private key wallet core algorithm open source, AA wallet open source, and BRC 20-S open source. Regarding the issue of private key loss or theft, OKX Web3 Wallet ensures that private keys are firmly in the hands of users through various backup methods such as iCloud/Google Drive cloud, manual, hardware, and mainstream hardware wallets such as Ledger, Keystone, and Onekey. In addition, OKX Web3 Wallet has pioneered the development of MPC non-private key wallets and AA smart contract wallets that can recover private keys through social means, completing the transformation of private key security issues "from prevention to cure".

Web3 wallet on-chain security is another challenge after the security issues of the wallet itself. This type of problem, like telecom fraud, is no longer within the scope of product security, mainly caused by third parties. However, OKX Web3 wallet focuses on this issue and has built a powerful KYT security system. For example, one of the functions of this system is risk authorization reminder. The current system has a library of over 3.2 billion on-chain address tags, which is constantly updated. It can effectively detect and automatically alert users when they encounter malicious addresses or suspicious transactions. In the future, address tags will be processed in layers, with white-listed addresses mainly receiving normal prompts, gray-listed addresses mainly receiving normal risk prompts, and black-listed addresses being directly intercepted. When users encounter scams or phishing websites, the KYT security system will automatically identify and provide risk prompts to avoid risky transactions.

Another feature is the one-click authorization management function. This function is relatively easy to understand. If the user makes a mistake during the on-chain interaction, and there is a risk contract authorization involved, the OKX Web3 wallet can be used to manage the risk contract authorization with one click, clearing risks regularly and avoiding potential problems in advance.

Recently, OKX Web3 wallet also supports Flashbot to protect users from MEV attacks. Users can click "More" in the ETH chain SWAP transaction of OKX Web3 wallet and enable MEV protection to effectively prevent MEV attacks. OKX Web3 wallet sends transactions to trusted third-party nodes (such as Flashbots private pool) instead of regular transaction pools to ensure that the transaction order will not be changed.

The entire Web3 industry and all projects revolve around "trust". Trust is one of the core product concepts conveyed to users by the OKX Web3 wallet, and it is also a key factor in its brand longevity. When trust forms a positive feedback loop between users and products, it can help the OKX Web3 wallet become a "super app" in the Web3 industry. However, the prerequisite for building trust is that the product must be secure enough.

Continuous innovation, leading innovation

In the Web2 field, innovation became Steve Jobs' unwavering belief and also the key to Apple becoming the world's most valuable company. In the Web3 field, innovation is the core driving force of the OKX Web3 wallet and the secret to maintaining its industry leadership.

In 2023, "first", "pioneering", "first-ever" and other labels are becoming the hallmark of OKX Web3 wallet, reflecting its innovation. For example, in April of this year, OKX Web3 wallet announced that it became the first multi-chain wallet to support Ordinals BTC NFT, and pioneered the one-click switch address payment network fee function. When transferring BTC NFT, users can use the balance in other addresses in the current wallet to pay for Gas, ensuring the safe transfer of NFT.

In April, OKX Web3 wallet launched an MPC non-private key wallet. This non-private key wallet is developed based on MPC technology and is the first 2/3 multi-chain non-private key wallet on the market, supporting 37 public chains. It also pioneered the emergency export function, allowing users to export private keys and withdraw assets in emergency situations through two self-managed private key fragments, achieving a truly decentralized self-hosted non-private key wallet. Users can easily create this wallet using their OKX account without the need to manage complex private keys or mnemonic phrases, and can easily explore the decentralized Web3 world.

On August 2nd, OKX Web3 Wallet launched the AA Smart Contract Wallet, which is considered the "iPhone moment" for Web3 wallets in the industry. It helps users reduce the participation threshold while bringing more gameplay and opening up huge imagination space for Web3 wallets. It may forever change the blockchain industry, just as the greatness of the iPhone is not in pioneering smartphones, but in making smartphones a mass product.

The innovation of OKX Web3 wallet is deeply integrated into all aspects of product design, functionality, and user experience, as seen in the iteration history of the APP version. It is a history of innovation.

Dreams never end, passion never stops, focus on building

In addition to the three product concepts mentioned above, simplification, one-stop, comprehensiveness, and not replacing user choices are also the product concepts that OKX Web3 wallet adheres to.

Nowadays, abstract concepts of Web3, complicated operational processes, and lagging product experiences have become the main obstacles for Web2 users to migrate to Web3. Vitalik Buterin has tested using ETH to buy coffee in many places around the world, but due to gas restrictions, network delays, and other reasons, several payments have failed. He himself deeply understands that compared to the smooth Web2, the Web3 product experience is poor and needs to be greatly improved. Poor experience is the "original sin" of Web3 products. OKX Web3 wallet continues to simplify complexity and is committed to bringing 1 billion users into Web3.

For example, in response to the cumbersome process of exchanging Gas fees, OKX Web3 wallet supports one-click "Exchange Gas" of balances, making it easy to pay Gas anytime, anywhere. By supporting 70+ public chains, users can seamlessly switch between major ecosystems, improving the user experience.

When discussing WeChat's "Drifting Bottle" feature, Zhang Xiaolong also mentioned an interesting perspective on daily life, "We should not make choices for users, but instead put users in such an environment and let them choose for themselves." At the beginning, they also discussed whether to create a special drifting bottle, for example, one that only people from a certain place could receive, or one that only men or women could receive. However, after consideration, they decided to only create the most basic function and leave room for users to explore. If users want a special drifting bottle, they can operate it themselves. This coincides with the product concept of OKX Web3 wallet, which only provides products and does not make choices for users. OKX Web3 wallet covers five major areas: wallet, DEX, DeFi, NFT market, and Dapp exploration, which can meet users' one-stop Web3 needs. Users can choose the functions they want according to their needs and explore Web3 in their own way.

As a firm builder and leader in the Web3 industry, the OKX Web3 wallet is continuously meeting the diverse needs of its users in its own way. They firmly believe that Web3 will ultimately bring freedom and fairness, and they will persist in their efforts and leave the rest to time.