Title: What is Large-Scale Adoption in Web3 Social Networks? A Case Study of the Viral NOTCOIN and UXLINK

Mass adoption as a continuous narrative in the Web3 domain aims to migrate the vast user base accumulated by Web2 platforms to the Web3 ecosystem. Every project on the road to facilitating this mass adoption narrative should and will become the focal point of the entire market.

For this reason, mass adoption is one of the ultimate goals for many Web3 products, especially Web3 social products that emphasize user engagement. So, what trends emerge when a project embarks on the road to mass adoption? What characteristics should other projects learn from and reference?

We have selected two of the hottest top crypto social projects, UXLINK and NOTCOIN, for a deep data analysis to illustrate the requirements a product must meet at the data level to achieve basic mass adoption.

Mass Adoption Examples

Taking Notcoin as an example, leveraging the TON ecosystem and the global top social product Telegram with an average of 900 million monthly active users, Notcoin utilizes lightweight Tap-to-Earn mining and viral propagation to attract many new users to Web3 through the Telegram portal. Since its launch on January 1, 2024, Notcoin has become one of the hottest and most-used channels on Telegram. The community is extremely active, with over 30 million participants and more than 6 million Telegram group members, achieving great success.

Before its launch, NOTCOIN had already attracted a user base of tens of millions, with active users reaching millions. On May 16, NOTCOIN successfully landed on several top exchanges, and its fully diluted valuation (FDV) has reached $1.2 billion, with participating users generally experiencing significant wealth growth.

On the other hand, UXLINK, on the road to mass adoption, has built a Web3 social network using Link-to-Earn based on familiar social relationships and organizes users into familiar groups, serving both users and developers. According to UXLINK's official website, it has over 7 million registered users, covering 100,000 groups and reaching 8 million users. As of now, the product still has significant growth potential at the data level.

In the following content, we will conduct an in-depth comparative analysis of NOTCOIN and UXLINK based on core fundamental data.

When comparing projects, we face the challenge of verifying off-chain data sources. Therefore, this analysis will focus on evaluating the projects from the perspective of on-chain data. NOTCOIN's on-chain data is primarily on the TON blockchain, while UXLINK's core data is concentrated in the Arbitrum/EVM ecosystem.

On-Chain Data Analysis

From the perspective of on-chain holders:

According to TON blockchain data, before the Token Generation Event (TGE), NOTCOIN had about 220,000 holders. Since its listing, the number of holders has steadily increased, now exceeding 1 million. Analyzing the growth drivers, most of NOTCOIN's core growth is attributed to various incentives after its listing.

According to Dune Analytics data, UXLINK currently has over 3 million on-chain point holders and about 1.4 million NFT holders. Public data shows that these NFT holders are high-value users within the UXLINK community with substantial on-chain point accumulation and are the sole recipients of airdrops.

Therefore, it can be reasonably inferred that before UXLINK's listing, the number of its token holders was around 1.4 million or more, surpassing NOTCOIN's scale after its listing. How the situation will evolve remains to be seen, but if UXLINK continues to find relevant growth drivers and maintains the same growth rate, its vast development space is easy to imagine.

From the perspective of active users:

In analyzing NOTCOIN's active user data, we found that in the five days following the Token Generation Event (TGE), the number of active users was mainly between 300,000 and 500,000, showing a gradual decline.

For UXLINK, on-chain data shows that its daily active users exceed 500,000. Specifically, within 24 hours, 7 days, and 30 days, the active users are 574,000, 1 million, and 3.8 million, respectively. These data indicate that UXLINK's user engagement remains high across different time scales. It is worth emphasizing that the current growth drivers are mostly from market marketing and the product's attributes. With the event empowerment of TGE, there might be more significant changes.

From the perspective of token distribution:

The total supply of NOT tokens is 102,719,221,714. According to the distribution plan, 78% of the tokens will be allocated to miners and voucher holders participating in the Tap-to-Earn mining mechanism. The remaining 22% will be reserved for future ecosystem funds and development funds to support the project's continuous development and ecosystem expansion suite.

The total supply of UXLINK tokens is set at 1,000,000,000. Of this total, 65% will be allocated to community contributors and developers through mechanisms like Proof of Work (PoW), Link-to-Earn, and Build-to-Earn. The remaining 35% will be allocated to investors, team members, and project development to ensure project funding support and team incentives.

In the Web3 ecosystem, projects that can gather over 5 million users are few and far between. Although the two projects we discussed are in different business areas, which limits the possibility of an in-depth business analysis, by comparing their on-chain data, we can still reveal the common characteristics of projects that have achieved mass adoption success. These traits are crucial for evaluating the current wealth effects of projects and predicting future market trends. Therefore, we should continue to respect and closely observe projects committed to promoting large-scale user adoption.