Mobile APP Revolution with Web3 features
Abstract
Canoe Finance team believes that mobile is the future of Web 3.0, and makes serious bets that the Web 3.0 mobile stack will redefine the DeFi protocol. The report shows the open source mobile stack infra that Canoe is building and revolutionizing on the Web 3.0 mobile APP.
Web 3.0 needs to go mobile: Capture value from Web 2.0 smartphone users.
Canoe Finance believes that to-consumer-App is the only way to have mass adoption from Web 2.0 in the next cycle. To go mainstream, Web 3.0 needs to go mobile — not only to serve traders but to consumers.
According to a report on The Defiant, the World Advertising Research Center (WARC) has predicted that 72.6% of internet users or nearly 3.7 billion people will access the web via smartphones by 2025.
Because of the sheer amount of the world population that relies on mobile phones over desktop devices, Li Jin, the co-founder at Variant Fund, believes “there’s a huge potential to bring crypto to all smartphone users in the world.” Other investors echoed the sentiment. “I think Web 3.0 going mobile will be a bigger trend and one that is very important to getting crypto out to more of the mainstream,” Pantera investor Paul Veradittakit told The Defiant.
Not only for the large-scale users on mobile but also Web 3.0 apps get more business value support from the mobile model. As is shown in the architecture, the Web 3.0 app captures value from Web 2.0 smartphone users. However, unlike the traditional Web 3.0 App, the Web 3.0 mobile App ecosystem is different and relies on tokenomics and DeFi protocol composability.
Therefore, Web 3.0 should spend a lot of time building the hardware & software infrastructure layer of the mobile stack. For example, Solana is going forward with a Solana-native smartphone called Saga, which Canoe is going to work with. Canoe open source mobile stack is also one of the mobile software infrastructure layers, within a more mature infra layer, there will be a lot of new mobile use cases unlocked and pumped on Web 3.0 business value.
Building DeFi for the next market cycle on mobile.
When it comes to DeFi protocol, there’s no demand to have an independent financial mobile APP that is low-frequency. In the next cycle, the DeFi protocol should serve the onsumer-driven app, not the traders-driven dapp. The mobile use case means something new innovation demands on DeFi protocol, and the scenario-driven algorithm will have its own solution based on different trade-offs.
Earning and potentials for smartphone users
One of the Canoe mobile SDK’s biggest features is the liquidity service for mobile use cases. Mobile Apps within the Canoe ecosystem can get the mobile activity incentive and higher composability.
The Canoe App ecosystem aims to provide opportunities for the mobile-to-earn paradigm. All the users are rewarded from the liquidity mechanism, and revenue in a traditional App will go into a shared-liquidity pool, which supports crypto users’ trading and DeFi behaviour. When co-liquidity is functional, the ecosystem will boom, and more App developers will flock to the Canoe App eco, not just because of its open-source mobile SDK infrastructure, but also because of its co-marketing and mobile-to-earn incentives.
Easy Migration. Furthermore, the account and ID will be in an on-chain ecosystem, with no impediments for moving to another App supported by on-chain data. The cost of marketing a new Web 3.0 App will be decreased, and more eco users will be attracted.
Developer Friendly. Web 2.0 mobile App developers can quickly lay out Web3-ready projects and communicate with the public chain foundation team through the Canoe bridge. A public chain App ecosystem grows faster within the Canoe SDK.
Canoe’s strategy is to provide trading fee revenue sharing in the future. Along with infra branding, we are building the Canoe APP ecosystem in 3 ways:
- Providing the mobile stack developing support and liquidity pool with open source tool.
- Reward to Devs who contribute to Canoe Open Source Mobile Stack
- Co-marketing with AGA, a guild alliance supported by Canoe, to provide DeFi education on mobile.
Canoe Finance Team will keep building the mobile stack infra with more public chains like Near and Aptos, unlocked Web 2.0 mobile app use case in Web 3.0.
Why flutter and the NFT dating app?
An Opportunity
Flutter’s SDK is the leading technology behind many social mobile Apps. It will enrich the ecosystem of Canoe SDK, and make mobile Apps abundant. With this integration, Canoe Mobile SDK infrastructure can now migrate to more public chains like Aptos and Near, which do not currently have mobile infrastructures. Building for Aptos and Near will help us to boost the running of these networks and leverage the user base.
Canoe Dating App will be an open-source DeFi SDK for developers and Flutter is a fast mobile App development language and its feature is similar to web3js. Most of the blockchain relies upon JS, so the flutter framework and Dart language are easy to call on the blockchain API compared with other mobile App languages. Mobile teams can quickly integrate Flutter like StepN, which uses the Flutter framework too. Each public chain must provide the Flutter open source infra tools and Canoe will deliver more features to more public chains.
For more about Flutter SDK visit: https://github.com/Canoe-Finance/Solana-Flutter-DeFi-SDK
Why a Dating App?
Canoe Finance aims to build a holistic Mobile SDK Ecosystem. While Canoe Warrior is a Unity DeFi SDK and is recommended by the Solana Foundation team, the Canoe Dating App will be powered by Canoe-Flutter-DeFi SDK. It will offer a liquidity mining mechanism for crypto users. In contrast, the Canoe App ecosystem concentrates on mobile App users who can freely play Canoe Warrior Game or date to earn in Canoe Dating.
We strive to build a mobile ecosystem where users can earn, enjoy and play inside the Canoe umbrella, and with the help of a Dating App, we will contribute to our immersive plan in the future.
• SocialFi
The Canoe Dating App serves as a social bridge between NFT and Web 2.0 users in the ecosystem. Canoe Dating implements the NFT social network, and it will bring numerous NFT projects to present to Web 2.0 users because all NFT is open and composable without the need for permission or authority.
In Canoe Dating, we can explore the combination with NFT, Gamefi and DeFi. Moreover, Through mobile-to-earn, it even creates an external circulation of assets for us. Web 2.0 Apps typical business revenue such as advt. consumption and sharing will be an additional source for the Web 3.0 value.
• Solana x Wormhole: Mobile Social App infra.
Solana has high-quality NFT communities, and a mature mobile infrastructure with, high-performance. There will be a Solana Mobile store promotion in the future.
During the Canoe dating App development, we collaborated with a wormhole team to put forward a user-friendly bridge, which means, all chains can be easily used based on the Canoe open source SDK.
https://github.com/Canoe-Finance/wormhole-node
