In addition to studying projects and participating in transactions at the micro level, we also need to pay attention to the macro changes and phased progress of the entire industry.

From DeFi Summer (Summer of Decentralized Finance) to Consumer Summer (Summer of Consumer Applications), from financial applications to a wider range of consumer applications The transformation represents the maturity and further popularity of the Web3 industry, and our industry is about to enter a new stage.

1. Review of DeFi Summer

DeFi Summer occurred in 2020 and was mainly driven by the maturity of decentralized finance (DeFi) applications.

Curve, Compound, Uniswap, AAVE and other protocols are technically mature enough to support large-scale user participation, which is the intrinsic driving force of the industry.

The more critical external driving force is the global low interest rate environment and the desire for high returns.

The liquidity in the market is very sufficient, and there is a need for higher returns, so liquidity pours into the DeFi system.

DeFi Summer provides a new way for ordinary users to participate in financial activities, and at the same time, it further amplifies liquidity by adding leverage.

From this, DeFi Summer appeared, such a summer of liquidity explosion.

2. What is Consumer Summer?

Consumer Summer has already begun to emerge, and the long-awaited Web3 application explosion in our industry is about to appear.

We will see more decentralized applications for ordinary consumers, such as decentralized social networking (users can control their own data and privacy), Web3 Games (which truly enable players to own game assets), decentralized payments (a platform that provides transparency and reduces transaction fees), etc.

These applications are nothing new. We have all seen or heard of them before, but why should we mention them again now?

VeryMany applications were not implemented in the last round or earlier. One of the key factors is that the blockchain infrastructure is immature and cannot support applications with high-frequency usage scenarios, such as the decentralized content platform "Bihu".

Ethereum founder Vitalik has discussed this: Many interesting projects started in 2015 and 2016, but by 2020, their development Still restricted. A big part of the reason is transaction fees. If these projects want to truly develop and become mainstream applications, they must have the required TPS.

You can imagine if you are an ordinary social media user and discover that there is a novel social media application, but every time you post a post or do anything If you have to pay $1, $5, sometimes even $15 for things, then that's totally unfeasible.

But for financial applications, this does not pose a problem. So it is a pity that many decentralized social and other projects did not survive the DeFi Summer period.

And now with the improvement of market demand, technology maturity, user experience and other dimensions, we have now reached a critical node for the explosion of consumer applications.

In DeFi Summer, various DeFi protocols focus on TVL (Total Value Locked), while various consumer applications in Consumer Summer focus on the growth of the user base. .

Just like the complex interactions and synergies between different projects during DeFi Summer, Consumer Summer can also see the further development of the Web3 application ecosystem, forming More complex application networks, mutually reinforcing growth.

3. The infrastructure layer is making preparations

Currently preparing for Consumer Summer in three dimensions:

(1) Public chain layer: The public chain is the soil where applications appear

Ethereum Layer 2 has improved the performance of Ethereum in disguise. Nowadays, Layer 2 can be said to be numerous.

However, Ethereum Layer 2 Morph, which Bitget focuses on supporting, is the first public chain that clearly calls out to serve consumers, and its focus is mainly on the application layer.

Morph adopts a three-layer growth strategy:

The first layer: transforming DeFi projects and making traditional DeFi projects more accessible to ordinary users , lowering the entry barrier for new users

The second layer: application scenarios on the chain, focusing on how to bring daily users to the chain.

The third layer. : Payment solution, Morph will launch Morph Pay, which supports fiat currency and crypto payments, simplifying the transaction process and helping users use blockchain services more easily.

We. Let’s continue to observe what will eventually grow on consumer-grade public chains like Morph.

(2) Middle layer: Common services provided by various technical middleware between applications and blockchain

In the middleware layer, the most noteworthy narrative is chain abstraction, and the leader of chain abstraction is Particle Network.

Particle. Network has been deepening the chain abstract narrative, providing chain abstraction middleware, and has launched chain abstraction benchmark products such as UniversalX.

Users are using blockchain applications. When doing this, the three most painful problems are: different chains require different wallets, the Gas tokens on each chain are different, and how to transfer assets across chains.

Chain abstraction is to extract common and essential parts from different chains, so that users do not need to understand the characteristics of different underlying chains, or even perceive the existence of various chains. They only need to use the product to complete their own intentions. Yes.

Looking at the development history of Particle Network, from wallet abstraction to account abstraction to chain abstraction, its product development is very focused and vertically focused on wallet technology services. Develop deeply.

The whole is based on existing users and productsIt iterates step by step, solves problems at different stages, and integrates many cutting-edge narratives of the Web3 industry.

Today, Particle Network has expanded into decentralized exchange business. UniversalX is actually an exchange form and integrates various wallet capabilities.

(3) Development layer: Implemented to the specific application development level

OKX OS is OKX provides a complete set of Web3 development solutions. The access to public chains and protocols is standardized, which greatly reduces the development cycle and cost, including the four major scenarios of wallet, DEX, Marketplace, and DeFi.

OKX OS has the most powerful data query capabilities, in-depth analysis of assets, transaction history, project information and other data. It has supported 60+ networks, including popular networks such as EVM, UTXO, Solana, TON, and TRON, and also supports the most cutting-edge ecology such as Inscription.

What many people don’t know is that many well-known Web3 projects are built using OKX OS related interfaces.

The most direct feeling of our ordinary C-end users is that the user experience of OKX wallet is very smooth, but this is the final effect, and a lot of infrastructure is needed behind it. to support.

OKX has gained recognition and success in the C-end market. In the process of serving C-end users, OKX has accumulated a lot of technical capabilities, especially in processing There are significant advantages in large-scale data, optimizing transaction processes and providing reliable online services.

Now OKX has opened up its underlying capabilities to the industry for use. OKX’s success in the C-side market has helped it build trust in the B-side market, and enterprises Customers trust OKX to provide stable and reliable services.

OKX has not only become an iconic product on the C-side, but has also become an important industry infrastructure on the B-side.

4. To summarize

There are three core factors in the timing of Consumer Summer: technology maturity, market demand, and user awareness.

Our industry has been doing infrastructure construction in the past few years and has made a lot of preparations in these three dimensions.

We You can get ready for Consumer Summer in 2025. The explosion of the application layer will bring many opportunities to ordinary users. Please participate in this new flow.