In the coming years, trillions of world finance will flow into crypto. Web3 will enter a new era of mass adoption, where the power of states and banks over global finance will wane, giving way to decentralized systems that encourage freedom, creativity and innovation. Onchain is a bet on the onchainization of the global economy, born in Farcaster. Contributing to bringing a billion people onchain, we share the main Base narrative of crypto mass adoption.
$Onchain is a metameme with a mission to onboard web2 users onchain, reward users for activity onchain, and stimulate builders to build onchain.
As the world moves towards mass crypto adoption, the challenge lies in bridging the gap for everyday users. Understanding how blockchain works, navigating the process of creating a wallet and making the first crypto transactions can create barriers and put many people off.
Approach. We work in two directions: incentivizing existing web3 communities and onboarding non-crypto users. We emphasize the value of social aspect and gamification as we progress in both areas.
Early Products. Chain Game simplifies the onboarding process through gamified experience on Telegram. Over 2 weeks of Alfa Test, Chain Game onboarded 500k users, with 200k playing daily. Onchain Score in turn aims to reward onchain activity and encourage people to learn more about blockchain and what it has to offer. Onchain Score went live on Farcaster on March 25th, was supported by the biggest Farcaster communities and onboarded over 30k users by the end of the first week, which was the average DAU of Farcaster at that time.
Abstract. We’re creating L3 for fully onchain Social apps and games with the emphasis on users cooperation and social features.
L3 for Web 2. Base network’s huge popularity affects the stability of transaction costs, which creates certain barriers for fully onchain apps. Thanks to the current development of the Superchain concept, the creation of a new chain doesn’t imply the uncomfortable fragmentation of liquidity any more, if the bridge infrastructure is set properly.
Onchain L3 is built on top of Base, offering ultra-cheap transactions that instantly finalize, with ETH as a native currency. The Onchain team will have an opportunity to fund network fees for some occasions, which will allow Web 2 users with any wallet balance to feel more comfortable and not to worry about gas fees. With a series of hackathons and grants, Onchain Chain will stimulate builders to bring value Onchain and on Base.
Traditional go-to-market implies building a product first, and then building a community around it through marketing and memes. Onchain uses a meme as GTM approach, thus identifying a community of users around a narrative first, and then building products that reflect the narrative and incorporate the coin.
First, a community of the like-minded around the narrative of onchainization and mass adoption formed in Farcaster. Second, we introduced alfa test versions of early products and invited people to join through airdrop incentives. Collecting feedback, refining current products and building new ones, we’ll be bringing more and more people onchain through gamification and accessibility, staying a movement with a strong community and set of principles and beliefs at heart.
As more and more Web 2 users join our community, we unite to achieve the common goal: bring a billion people onchain.
The future is Onchain.
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