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Aboard V3: Your Ultimate Trading Hub with Triple Incentives

Takeaways

  • Perpetual DEX is currently positioned at a historical opportunity moment, yet it faces a bottleneck in user growth.
  • The incentive plans of Perpetual DEX suffer from a misalignment with the characteristics of the current user base.
  • Aboard Exchange's core strengths lie in the abstraction of Exchange, Chain, and Transaction.
  • The introduction of the Broker mechanism and low-threshold trading will further address the mismatch between user growth plans of different Perpetual DEX and user characteristics.
  • The aggregation of full-chain liquidity, margin, and user positions will resolve issues related to fractured user experiences across chains and liquidity fragmentation.
  • Aboard Exchange provides a trading frontend for both Web2 and Web3 users. Perpetual DEX contributes liquidity and trading rewards. The Broker model matches user trades with liquidity. Aboard Exchange becomes a hybrid exchange built on full-chain liquidity, attracting a large Web2 user base to the Web3 ecosystem.

Prospects and Challenges of Perpetual DEX

 ▶Phenomena

  • In traditional finance, crypto derivative trading volume is rapidly growing, surpassing spot trading.
  • However, on-chain spot trading volume significantly surpasses on-chain perpetual contract trading volume. From a traditional finance viewpoint, this suggests untapped potential in on-chain perpetual contract trading.
  • In the development of Perpetual DEX, after five years, on-chain perpetual contracts make up only 1.5% of the Perpetual DEX market share, down from 1.9% in Q2 2023. Derivative trading volume on DEX decreased by 21.1% in Q3.

▶Pain Points — Misalignment of Incentives with User Characteristics:

  • The fundamental reason for the sluggish growth in Perpetual DEX user acquisition is the inability to meet the core needs of regular users — profitability (trading gains and DEX incentives).
  • Profits are mainly garnered by professional traders (institutions, high-frequency traders, market makers), and Perpetual DEX incentives often benefit professional arbitrageurs, liquidity providers, and traders.
  • Over 80% of market profits go to less than 5% of professional users, dampening the enthusiasm of regular users to participate in the market.

▶Solution Strategies

  • The next generation of Perpetual DEX must prioritize meeting the core needs of ordinary users, with a primary focus on profitability.
  • Balancing Profitability, Security, and User-Friendliness.
  • Once these conditions are met, it is entirely foreseeable for Perpetual DEX to increase its market share from 1.5% to 15%, or even exceeding 50%, within the entire derivatives market.

How Aboard Exchange Meets Users Needs

In the text above, we discussed two primary user categories on Perpetual DEX: “degen” users and profit-oriented ordinary users. Aboard Exchange recognizes their distinct needs and introduces the Omni-Chain Hybrid Exchange (OHEX) architecture. This innovative approach, featuring the Omni-Chain broker mechanism, seamlessly integrates liquidity pools from various Perpetual DEX platforms. This user-centric optimization minimizes opening costs and broadens access to diverse trading categories.

Aboard Exchange, positioning itself as the inaugural fully hybrid on-chain exchange, operates under three key abstractions: DEX Abstraction, Chain Abstraction, and Transaction Abstraction (Intent-centric). These abstractions promise users an unparalleled and improved trading experience, emphasizing usability, security, and accessibility across different trading categories.

DEX Abstraction (On-Chain Broker)

Aboard Exchange’s Broker model consolidates DEX platforms, offering competitive pricing, robust liquidity, and diverse trading. Achieving DEX Abstraction, it combines all assets, including perpetual contracts, forex, commodities, and options, swiftly integrating emerging assets. The model addresses the core user need — profitability.

Through DEX Abstraction, Aboard provides deep liquidity, diverse asset allocation, and Yield Abstraction. Users access incentive plans from various Perpetual DEX platforms via Aboard, including airdrops, trading mining, and referrals. Aboard serves as a universal referral, ensuring users receive earnings without worrying about specific DEX interactions. The Smart Order Router optimizes transactions across major DEX platforms for the highest overall returns.

DEX Abstraction

Chain Abstraction

Chain Abstraction signifies, from a user experience perspective, that the inherent cross-chain barriers between different blockchains will not be a hindrance to user interactions. The primary features include:

  • Full Chain Deployment
  • Complete Liquidity Integration Across Chains
  • Aggregate Collateral and Positions Across Chains
  • Support for Inter-Chain Transfers

According to the current plan, Aboard Exchange is set to become the market’s first comprehensive cross-chain trading platform, with the goal of encompassing all highly promising public blockchains in the market. As per the current roadmap, Aboard Exchange already supports Arbitrum, Avalanche, ZkSync Era, and Scroll. Further plans include supporting additional blockchains such as Base, Mantle, Optimism, ZkEvm, Linea, BSC, and Polygon by January 2024.

Aboard Exchange integrates liquidity and assets across blockchains through the Omnichain Hub. Users trade seamlessly between chains, overcoming liquidity challenges. The platform supports collateral and position interoperability, allowing easy access and consolidated views. This enhances capital efficiency, offering a transformative trading experience, eliminating chain barriers for users in the cryptocurrency space.

Chain Abstraction

Transaction Abstraction (Intent-centric)

Transaction Abstraction, a key strategy of Aboard Exchange, streamlines the Web2 user experience and minimizes entry barriers using Multi-Party Computation (MPC) and Artificial Intelligence (AI) tools. Aboard aims to simplify the transition for Web2 users to Web3 by addressing common challenges like wallet creation and funding.

With features such as social media login, MPC wallets, and fiat on/off ramps, Aboard Exchange provides a user-friendly gateway to the world of cryptocurrencies. The Aboard Intent Solver, powered by GPT-4, enables users to execute complex cryptocurrency transactions through simple natural language commands, enhancing accessibility and user understanding without the need for intricate transaction procedures.

Transaction Abstraction (Intent-centric)

Conclusion

Aboard Exchange, through the introduction of the three abstractions outlined above, brings about transformative changes:

  • Profit Opportunities: Aboard Exchange consolidates incentive sources to meet user profit needs. It provides easy access to incentives from different DEXs and chains in one place, simplifying operations. The Advisory Protocol introduces innovative trading mechanisms to address users’ profit needs effectively.
  • User-Friendly Approach: Aboard Exchange simplifies cross-chain challenges with advanced tech like MPC, AI, and Fiat on/off ramps, ensuring user-friendly crypto transactions, especially for Web3 beginners. The straightforward entry model and automated incentives match Perpetual DEX rewards with user preferences.
  • Optimizing Capital Efficiency: Aboard Exchange combines liquidity from different sources, broadening users’ asset trading options and lowering transaction expenses. This strategy, from the user’s viewpoint, allows for cross-chain margin and position interoperability, improving overall capital efficiency.

Roadmap

  • DEX abstraction (On-chain Broker) and chain abstraction will be implemented in the upcoming Aboard V3.
  • Transaction Abstraction (Intent-centric) is scheduled for realization in Aboard V4.

Incentive Plan

  • Triple Airdrops: Unlock rewards from participating chains, DEXes, and Aboard itself.
  • Point Incentives: Engage in daily check-ins, trading perpetual futures, and more for further token airdrops.
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