Enhancing the Awareness, Utility, and Anonymity Set of Oxen - Part 6 - Integrate multicrypto wallet and Promote Oxen as default payment by Invisible Social Graph Exploitation and Interactive In-App Prompts #46
Enhancing the Awareness, Utility, and Anonymity Set of Oxen - Part 6 - Integrate multicrypto wallet and Promote Oxen as default payment by Invisible Social Graph Exploitation and Interactive In-App Prompts
The ORC-8 discussion illuminates a critical concern within the Oxen ecosystem: underutilization of the coin owing to a limited number of daily transfers, which in turn diminishes Oxen's practical anonymity set.
As foundational tools, we've utilized the AARRR framework and previously presented strategies in:
Despite the existence of messenger apps with integrated wallets, none have truly tapped into the latent potential of unifying a crypto wallet and a messenger app. A common mistake these apps make is the exclusivity of their wallets to their own coin, leading to restricted usage. We should not repeat this error.
Our strategy should aim to incorporate a multicurrency wallet that supports mainstream coins and tokens, thereby enticing users to devote more time to our integrated wallet. As the adage goes, time is money.
Oxen should, of course, be one of the supported cryptocurrencies in the wallet, but it isn't necessary to aggressively promote it initially. Instead, we can utilize innovative approaches that subtly influence users over time.
To protect user privacy, when a user, Bob, requests a wallet address from Alice, Alice's Session-integrated wallet will provide an Oxen address. Bob's client will then prompt: "Would you like to swap your X amount of Y coin to Oxen (Z fee) and send it to Alice?" If Bob concurs by clicking 'yes', Bob's Session-integrated wallet will automatically connect to Chainflip / ChangeNow / SimpleSwap to swap X amount of Y coin to Oxen and send it to Alice. This creates a privacy firewall between users, cutting off the social graph from the payment network. This could potentially be rebranded as SessionPay.
Additionally, an alternative approach could be explored. In this option, the Session-integrated wallet would execute a double swap from to Oxen and back to using Chainflip, ChangeNow, or SimpleSwap. This would provide a seamless experience for users who may be unaware of the intervening Oxen coin while isolating the source and target addresses of . However, this would come at the expense of potentially doubling transaction fees.
If the user insists on transfering a transparent coin directly, they can still manually copy and paste the wallet address, just without the convenient one-click payment UI.
This interaction provides an opportunity to amplify the awareness of Oxen. Although the actual implementation necessitates further refinement and may reveal additional potential, the fundamental idea is clear. As a messenger app, our capacity to safeguard user financial privacy is immense and awaits optimal utilization. The return on this strategy is also vast. Understanding the value a default browser brings to a vendor allows us to foresee the remarkable impact of progressively encouraging users to employ Oxen to secure their incoming transactions in the long term.
This strategy also bolsters the 'Referral' stage in the AARRR model.
Enhancing the Awareness, Utility, and Anonymity Set of Oxen - Part 6 - Integrate multicrypto wallet and Promote Oxen as default payment by Invisible Social Graph Exploitation and Interactive In-App Prompts
The ORC-8 discussion illuminates a critical concern within the Oxen ecosystem: underutilization of the coin owing to a limited number of daily transfers, which in turn diminishes Oxen's practical anonymity set.
As foundational tools, we've utilized the AARRR framework and previously presented strategies in:
These strategies primarily stimulate 'Acquisition', 'Activation', and 'Referral'.
Similar to Parts 3 and 4, Part 6 also underscores the importance of social interaction.
The technical aspects of incorporating a wallet into Session are detailed in Revolutionizing Payments: Crypto Wallet Integration in Session Private Messenger. This proposal focus on the marketing aspect.
Despite the existence of messenger apps with integrated wallets, none have truly tapped into the latent potential of unifying a crypto wallet and a messenger app. A common mistake these apps make is the exclusivity of their wallets to their own coin, leading to restricted usage. We should not repeat this error.
Our strategy should aim to incorporate a multicurrency wallet that supports mainstream coins and tokens, thereby enticing users to devote more time to our integrated wallet. As the adage goes, time is money.
Oxen should, of course, be one of the supported cryptocurrencies in the wallet, but it isn't necessary to aggressively promote it initially. Instead, we can utilize innovative approaches that subtly influence users over time.
To protect user privacy, when a user, Bob, requests a wallet address from Alice, Alice's Session-integrated wallet will provide an Oxen address. Bob's client will then prompt: "Would you like to swap your X amount of Y coin to Oxen (Z fee) and send it to Alice?" If Bob concurs by clicking 'yes', Bob's Session-integrated wallet will automatically connect to Chainflip / ChangeNow / SimpleSwap to swap X amount of Y coin to Oxen and send it to Alice. This creates a privacy firewall between users, cutting off the social graph from the payment network. This could potentially be rebranded as SessionPay.
Additionally, an alternative approach could be explored. In this option, the Session-integrated wallet would execute a double swap from to Oxen and back to using Chainflip, ChangeNow, or SimpleSwap. This would provide a seamless experience for users who may be unaware of the intervening Oxen coin while isolating the source and target addresses of . However, this would come at the expense of potentially doubling transaction fees.
If the user insists on transfering a transparent coin directly, they can still manually copy and paste the wallet address, just without the convenient one-click payment UI.
This interaction provides an opportunity to amplify the awareness of Oxen. Although the actual implementation necessitates further refinement and may reveal additional potential, the fundamental idea is clear. As a messenger app, our capacity to safeguard user financial privacy is immense and awaits optimal utilization. The return on this strategy is also vast. Understanding the value a default browser brings to a vendor allows us to foresee the remarkable impact of progressively encouraging users to employ Oxen to secure their incoming transactions in the long term.
This strategy also bolsters the 'Referral' stage in the AARRR model.