BlockBeats is launching a new data product, OPRR, to discover the next Binance in the emerging DEX space.

24-11-25 16:33

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On the day DEXX was hacked, the meme community was in chaos. While we were cleaning up the aftermath, we also witnessed the extreme polarization of the market: the anger of meme players and the confusion of traditional coin traders. Many in the community were asking: What is DEXX for?

What DEXX does is participate in the hottest entrepreneurial track as Bitcoin rushes towards $100,000 in 2024.

As the long-anticipated Layer2, ZK, and other heavyweight projects have successively landed in the past two years, the market seems lost. After so many years, the biggest application of blockchain technology is still coin trading. Even when the blockchain space cannot get any richer, we still lack new applications and only have coin trading.

The market has long been tired of waiting for technological development and has turned its attention to revenue and PMF (Product-Market Fit). From the sky-high revenue of Friend.Tech at the beginning of the year, to the omission of coinbase chain ranking revenue from the financial report of the listed company Coinbase, to Pump.fun, an asset issuance platform that generated $100 million in revenue in just over 200 days, the market has realized that generating revenue is the next main narrative. Therefore, against the backdrop of the explosive growth of the meme ecosystem, the trading scene is gradually moving onto a new track.

Until last year, our regular on-chain transactions were to find the most reliable DEX trading on various chains, with a UI that never changed, needing to switch to an on-chain browser before purchase to check our cost. The experience was incomparable to platforms like Binance, but no one upgraded the product; everyone was the same, the experience was equally poor.

But this year, under the meme frenzy brought by pump.fun, traditional DEXs have long been unable to support or adapt to the rapidly changing trading environment. Hence, a large number of new DEXs have entered the market. From the early SILLY and BOME era of birdeye to pepebot, and then to platforms like GMGN, the trading experience on these new platforms is just as good as Binance, or even more comfortable.

The daily launch of tens of thousands of new assets brings about the possibility of tens of thousands of wealth effects. What retail investors need is speed. Perfected on-chain data visualization, ultimate hot operation, and trading bots result in the influx of traffic, making these new trading tools not only the growth engine of this year but also the most profitable entrepreneurial track.

We cannot imagine Uniswap surpassing Binance one day, but given the current development trend of these new trading platforms, surpassing centralized platforms seems to be only a matter of time. The current first-line trading platforms in market perception are still the giants, but all the factors needed for trading are present in these new platforms, perhaps even surpassing them. Maybe the next first-line trading platform will emerge from this new on-chain track.

To this end, BlockBeats is launching a brand-new data product called OPRR (Onchain Product Revenue Ranking) to track the progress of these new platforms. The goal is to identify the next true on-chain Binance by analyzing metrics such as daily revenue, transaction volume, and more.