The imitation season in the crypto world hasn't arrived, but the imitation season in the US stock market is thriving in a bull market 🤦 Changing the way of thinking is the key to opening up the landscape; the combination of the US stock market and crypto is the way to break through ☝️
On building exchanges and trading tools/wallet products centered around C-end user experience, the advantages of Chinese teams are very evident.
After all, product managers and millions of software engineers have been cultivated in a highly competitive environment of intense internal competition in domestic internet and mobile internet products for 20 years.
According to GPT's query, among the top 10 cryptocurrency products globally ranked by user scale, 8 were created by Chinese entrepreneurs, which shows their dominance! In the future, as we transition from large centralized exchanges (CEX) to on-chain trading (DEX), can Chinese product teams continue to maintain the glorious achievements of their history in CEX?
Currently, the highly popular Perp DEX representative project Hyperliquid's CEO Jeff is also Chinese, and the meme trading tool sector's GMGN, Axiom, and XXYY are also all founded by Chinese entrepreneurs. This demonstrates that the talent cultivated by University of Tokyo possesses strong capabilities in web3 product engineering!
The most discussed topics in the crypto world are still speculation or trading; there are few discussions about how to create a good crypto product. Is there a group dedicated to researching and discussing crypto products? Please help pull me in🙏
From classic casual games like Happy Match, Star Eliminator, and 2048 in product design level planning to the later ByteDance's second product with over 100 million users, the humorous content (the first one being Toutiao) – the early product manager 🧑💻
Recently, I've been thinking: How should an outstanding product manager design a phenomenon-level B2C product in the current crypto industry?
Product managers from the web2 industry need to undergo a significant transformation when they enter the crypto space, shifting from the first principles of user experience in product usage to the first principles of asset liquidity exit (in simple terms, it's mainly about whether there is a profit effect; how good the product is doesn't matter anymore).
Having been in the crypto space for nearly ten years, I've played countless types of crypto products or what we temporarily call web3 project products, but now the number of crypto products left on my phone that I haven’t deleted is very few!
The commonly used crypto apps on my phone are mainly these: Binance Exchange / Okx web3 wallet / Gate Exchange / Metamask wallet / Telegram (my main use of TG is for crypto IM communication)
The commonly used web platforms are these: Dexscreener / GMGN / CoinMarketCap / X original Twitter (to get the latest updates and information in the crypto space)
I also want to ask all the new and old friends who are interested in using crypto products, what are the crypto products you use the most now? Thank you for sharing 🙏
Coming to the cryptocurrency world to earn money for a better life, don't lose your life for the sake of gaining some traffic, the key is that you haven't made any money!
There has always been talk about the lack of new retail investors from outside the crypto circle entering the market. Just the registered users on Binance alone amount to 260 million people. Even if only half of them are real KYC users, that's still 130 million. This user base is not small even when compared to the scale of the Web2 industry...
Now, looking at Binance Wallet, there are only 28,000 users. Even if we multiply that by ten, it's only 280,000 users. The ratio of 260 million CEX users to 28,000 on-chain users is really shocking!
Let's not worry about whether outside users will come in; whoever has the ability to bring these 260 million users, who have already one foot in the crypto circle, to play DeFi, DEX, or memes on-chain will be incredible!
99% of CEX users in the crypto circle still do not have the habit of using DEX on-chain. Is it that they have no interest in on-chain DeFi, or is it that there are simply no good products on-chain to attract them to play?
This is a question worth pondering for the industry and may be the key for builders developing on-chain products to achieve success in the future 🔑
#How to attract CEX users to use DEX #Is Binance's 260 million users real?