Bringing the Super App Trend to DeFi: Metavault & Azuro
Metavault’s recent integration of the Azuro protocol is one of the most curious moves in the dApp space, reflecting a broader trend in the digital world: the rise of super apps. Let’s see how this trend impacts market growth and why it has big potential in shaping the future of DeFi.
But first, let’s have a look at a distinct phenomenon which is Metavault — a new DeFi Powerhouse.
Introducing Metavault
The term “DeFi Powerhouse” describes a dApp that functions as a unified interface for centralizing all DeFi Trading activities, where users have access to trading Perps, Spot markets, providing Liquidity, staking, with multiple reward opportunities, bridging assets cross-chain, access to the DAO, as well as to Prediction markets. All these features are neatly combined in one place, and Metavault has it all.
What makes it not just a one-stop-shop but, in fact, a true Powerhouse is that Metavault also functions as a Backend-as-a-Service (BaaS) provider operating on 12 differen blockchain networks. In this role, it supports the backend needs of several projects, including Quickswap’s QuickPerp’ and Kinetix, with plans to include GrizzlyFi soon.
So, as a DeFi Powerhouse, Metavault has support for both backend and frontend services, covering a whole number of user needs in a one-stop-shop environment, akin to super apps in Web2.
What’s so super about Super Apps?
Super apps are multi-functional platforms offering an array of services like messaging, financial services, and e-commerce, all within a single application. Originating in Asia, these apps have transformed digital interactions by offering a consolidated suite of services. The most notable examples include WeChat and Gojek, which have redefined user engagement and market growth in their respective regions.
Market Growth and Revenue
The global super apps market is rapidly expanding. Valued at USD 61.30 billion in 2022, it’s expected to grow at a CAGR of 27.8% from 2023 to 2030. This growth is boosted by increasing internet and smartphone adoption even in the most remote parts of the world, along with the rising adoption of e-commerce and digital payment services.
Case Study: WeChat and Gojek
- WeChat: This Chinese super app has over 1.24 billion users, with its services encompassing everything from messaging to ride-hailing.
- Gojek: An Indonesian super app with 900,000 merchant partners, it exemplifies the network effects and comprehensive service offerings that define successful super apps.
These super apps demonstrate how offering a variety of services under one umbrella can significantly enhance user engagement. They create an ecosystem where each service complements the others, leading to higher user retention and increased revenue.
Integrations: too beneficial to resist
Aligning with the Super App Trend
Metavault’s integration with Azuro is another step forward to becoming a more comprehensive super app that has all user needs covered. By allowing its users to play and have fun within the same app where they come to trade, Metavault is making a strategic move to increase its user base, retention, and revenue growth.
Potential Impacts
- User Engagement: By offering Azuro’s vast sports markets and powerful smart contract logic, Metavault could potentially increase its user engagement and retention. Who wouldn’t want to spend more time managing their finances when you can play and earn at the same time?
- Market Position: This integration may position Metavault as a versatile and comprehensive platform in the DeFi space, similar to the market influence of successful super apps. These are still early days for this phenomenon, and Metavault is one of the super app pioneers in DeFi.
- Revenue Growth: Diversified services could lead to a broader user base and, consequently, revenue growth, as seen in the super app market.
Metavault’s integration with Azuro reflects a strategic move to align with the super app trend, which could significantly impact its market growth and user engagement. Azuro plays a central role here, as it takes all the backend work upon its shoulders, thus releasing the time and resources for Metavault to make faster leaps forward. Seeing how time accelerates with each decade, such integrations are likely to become the only way to keep up. As a consequence, the future of decentralized finance and our user habits, as well, will be shaped by such comprehensive apps integrating different backend providers.
Soon, we won’t need to constantly flip through screens packed with apps for every little thing. We’re moving towards a more convenient experience where memorizing various UIs is no longer necessary. All your needs? Sorted in one handy place.
Azuro is the onchain predictions layer. It consists of modular tooling, oracle and liquidity solutions for EVM chains to host powerful prediction and gaming apps.
With its unique infrastructure layer approach, Azuro makes onchain predictions and gaming portable and composable. It allows anyone to engage and monetize users by building apps, integrations, and products quickly, permissionlessly and with zero upfront or running costs.
- Website: https://azuro.org/
- Docs: https://gem.azuro.org
- Github: https://github.com/Azuro-protocol
- Onchain activity: https://dune.com/azuro/stats
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