As a firm builder and leader in the Web3 space, OKX Web3 Wallet is continuously meeting the diverse needs of its users in its own way.

Elon Musk, Steve Jobs, and Zhang Xiaolong are undoubtedly the "godfathers" of product managers. They created tech giants of the Web2 era - Tesla, the world's most valuable car company, Apple, the world's most valuable tech company, and WeChat, the platform with the most users worldwide. Their product philosophies, such as the first principles of returning to the essence of problems, relentless innovation, and starting from satisfying human needs, deeply influence generations of product managers. Even in the transition from Web2 to Web3, these product philosophies remain universally applicable.

In leading Web3 products like OKX Web3 Wallet, one can intuitively feel the inheritance and promotion of excellent product philosophies from the Web2 era, such as innovation and user-oriented design. As a product of "OKX," for the OKX Wallet team, it is both a halo and a burden. While gaining attention through the OKX brand, they are destined to shoulder higher and more stringent expectations. In an environment where MetaMask takes the lead and similar products are in fierce competition, the OKX Web3 Wallet team meticulously refines the product, from small details of the product UI to the product model and strategy, advancing step by step and devoting themselves to research. After three years, they have emerged as the builder and leader in the Web3 wallet race. For example, according to data from DefiLlama, almost all of the top 100 DeFi protocols have been integrated into the OKX Web3 Wallet.

In 2008, influenced by the decentralization brought by Bitcoin, awareness of personal data sovereignty and trust began to awaken. The Web3 wave is unstoppable, and freedom and fairness have ultimately become the choice of the times. As a leading Web3 product, this article will explore a new Web3 product philosophy using OKX Web3 Wallet as a clue, including the user perspective, values, and worldview embedded in the product.

Deep Understanding and Meeting User Needs

"We have 500 million people criticizing what we do every day, and 100 million people wanting to teach me how to do product management," said WeChat founder Zhang Xiaolong in a 2019 public lecture. Despite the multitude of voices, Zhang Xiaolong holds the most authority in product management in China. Tencent's third-quarter financial report for 2022 showed that WeChat has a monthly active user base of 1.309 billion.

Zhang Xiaolong once mentioned in discussing the product philosophy of WeChat that many times when we create products, we only satisfy users' "functional needs." Products created in this way are not useless, but their value is limited. However, if the products not only satisfy users' "functional needs" but also meet their "psychological needs," the desires deep within human nature, then the products have the foundation to become successful.

The ultimate goal of Web2 products is to satisfy human nature, which means understanding and meeting user needs. This product philosophy is equally applicable to Web3. Regardless of whether Web3 pursues fairness and freedom, trust transformation, or something else, returning to the essence of the product is still about serving the user. However, many Web3 products are beginning to deviate from this essence, some existing for the sake of being Web3, decentralization for the sake of decentralization, or passive iteration to follow competitors, and so on, not necessarily stemming from user needs. For example, many Web2 gamers are not interested in "Play-to-Earn" blockchain games, but many crypto enthusiasts express great interest. This means that "Play-to-Earn" may not be a demand of Web2 gamers. Products should start by understanding the needs of the target users.

OKX Web3 Wallet has always adhered to starting from user needs and quickly refining them into product requirements, rather than using its own needs as user needs. In fact, this product viewpoint is consistent with Musk's first principles, which emphasize returning to the essence of problems. For many crypto users, they want to interact with early projects to potentially receive airdrops at low cost and low risk for potential high returns. However, the difficulty of screening projects and the time-consuming nature of the process present many inconveniences. To address this, OKX has launched Cryptopedia, a one-stop DApp exploration and reward interaction platform. It regularly introduces activities themed around different blockchain networks and collaborates with partners to set DApp interaction tasks, helping users reduce search costs and interact precisely even in fragmented time.

Similarly, many users want to participate in on-chain investments, but the mix of projects on-chain and the inability to make intuitive comparisons pose challenges. OKX Web3 Wallet has launched the DeFi section, a one-stop on-chain investment platform. It aggregates various investment products from 10+ public chains, 60+ projects, and 200+ protocols, supporting V3 liquidity pools, one-click cross-chain investments, automatic yield calculations, and more gas savings, making DeFi investments extremely simple.

The Web3 industry itself transcends frameworks and has limited reference information, requiring a deep understanding of technology, users, and application scenarios to truly create valuable services. The OKX Web3 Wallet team has early on broken free from constraints and persisted in putting users at the core, ultimately gaining the trust of industry partners and users.

As of September 20th, OKX Web3 Wallet has released its latest ecosystem overview, showing that the wallet section has integrated with over 70 public chains, the DeFi section supports over 120+ protocols, and the NFT market aggregation platform covers 30+ platforms, supporting multiple ecosystems such as Game, Social, MEME, and Tool, with a total of over 300 supported platforms and protocols.

Protecting User Asset Security as the First Principle

After meeting user needs, the next step is undoubtedly product security. Just as safety is the lifeline of companies like Tesla, protecting user asset security is the first principle of OKX Web3 Wallet. While Web3 addresses trust issues through decentralization, it also faces trust crises due to frequent on-chain security incidents and incomplete decentralization. Especially as the primary tool for managing user assets, Web3 wallets bring back personal data sovereignty but also face on-chain and off-chain security risks such as private key loss or theft, airdrop scams, problematic contracts, and phishing links.

Since its launch, OKX Web3 Wallet has gradually built a robust 24/7 product security system, maintaining a record of zero security incidents. Security issues with the wallet itself mainly fall into two categories. For users, the main issues are related to the loss or theft of private keys. For the wallet, the main concerns are related to the misuse of user private keys. To address the potential issue of "self-theft," OKX Web3 Wallet has fully open-sourced the most direct multi-chain signature SDK, the MPC non-private key wallet core algorithm, the AA wallet, and the BRC 20-S, proving that it has not misused user private keys. To address the issue of private key loss or theft, OKX Web3 Wallet supports multiple backup methods for mnemonic/private keys, including iCloud/Google Drive cloud storage, manual backup, and hardware wallets such as Ledger, Keystone, and Onekey, ensuring that users firmly hold their private keys. Additionally, OKX Web3 Wallet was an early developer of the MPC non-private key wallet and the AA smart contract wallet, which allows for social recovery of private keys, completing the transformation of private key security from prevention to cure.

On-chain security issues for Web3 wallets are another challenge, similar to telecommunication fraud, which is not strictly a product security issue but is mainly caused by third parties. However, OKX Web3 Wallet has made it a focal point and built a robust KYT "Tianyan" security system. For example, one of the system's functions is risk authorization reminders. The system currently has a library of over 3.2 billion on-chain address labels, continuously updated, to effectively detect and automatically alert users to potential risks when they are involved in malicious addresses or suspicious transactions. In the future, the system will categorize address labels, with white-listed addresses receiving general prompts, gray-listed addresses receiving general risk prompts, and black-listed addresses being directly intercepted. When users encounter scams or phishing websites, the KYT "Tianyan" security system will automatically identify and provide risk alerts to avoid risky transactions.

Another feature is the one-click authorization management, which allows users to manage risk contract authorizations with a single click, clearing risks regularly and avoiding pitfalls in case of user errors during on-chain interactions.

Recently, OKX Web3 Wallet has also supported Flashbots to protect users from MEV attacks. Users can click "More" in the SWAP transactions on the ETH chain in the OKX Web3 Wallet and enable MEV protection to effectively prevent MEV attacks. The OKX Web3 Wallet sends transactions to trusted third-party nodes (such as Flashbots' private pool) instead of regular transaction pools to ensure that the transaction order will not be altered.

The entire Web3 industry and all projects operate around "trust." Trust is one of the core product philosophies conveyed to users by OKX Web3 Wallet and is a key point for its brand longevity. When trust forms a positive feedback loop between users and products, it may help OKX Web3 Wallet become a "super app" in the Web3 industry. However, the prerequisite for building trust is that the product is sufficiently secure.

Continuous Innovation and Leading Innovation

In the Web2 domain, innovation was Steve Jobs' unwavering commitment and a key factor in Apple's rise to become the world's most valuable company. In the Web3 domain, innovation is the core driving force of OKX Web3 Wallet and the secret to maintaining its industry leadership.

In 2023, terms like "first," "pioneering," and "first-ever" are becoming labels for OKX Web3 Wallet, representing its important innovations. For example, in April of this year, OKX Web3 Wallet announced that it became the first multi-chain wallet to support Ordinals BTC NFT and pioneered the one-click switch address payment network fee feature. This allows users to use the balance from other addresses in the current wallet to pay for Gas when transferring BTC NFT, ensuring the secure transfer of NFTs.

Also in April, OKX Web3 Wallet launched the MPC non-private key wallet. This non-private key wallet, based on MPC technology, is the first 2/3 multi-chain non-private key wallet on the market, supporting 37 public chains. It also pioneered the emergency export function, allowing users to export private keys and withdraw assets in emergency scenarios using two self-managed private key fragments, achieving true decentralized self-custody without private keys. Users can easily create this wallet using their OKX account without the need to manage complex private keys or mnemonic phrases, making it easy to explore the decentralized Web3 world.

On August 2nd, OKX Web3 Wallet once again boldly launched the AA smart contract wallet, which the industry considers the "iPhone moment" for Web3 wallets. This helps lower the entry barriers for users and opens up more possibilities for Web3 wallets, potentially changing the blockchain industry forever, just as the greatness of the iPhone lies not in pioneering the smartphone, but in making smartphones a mass-market product.

The innovation of OKX Web3 Wallet is deeply integrated into all aspects of product design, features, and user experience. The history of app version iterations is a history of innovation.

Unwavering Dreams, Endless Passion, Devoted to Building

In addition to the three product philosophies mentioned above, simplifying complexity, providing a one-stop solution, comprehensiveness, and not making choices for users are also product philosophies that OKX Web3 Wallet adheres to.

Today, abstract Web3 concepts, complex operational processes, and laggy product experiences are the main obstacles for Web2 users migrating to Web3. Vitalik Buterin has tested using ETH to buy coffee in multiple locations worldwide, but due to gas limits, network delays, and other reasons, several payments have failed. He himself deeply feels that compared to the smoothness of Web2, the Web3 product experience is poor and needs significant improvement. Poor user experience is the "original sin" of Web3 products. OKX Web3 Wallet continuously insists on simplifying complexity and is committed to bringing 1 billion users into Web3.

For example, to address the cumbersome process of exchanging gas fees, OKX Web3 Wallet supports one-click "Gas exchange" for balances, making it easy to pay gas anytime, anywhere. By supporting 70+ public chains, users can seamlessly switch between various major ecosystems, improving the user experience.

When discussing the "Drift Bottle" feature of WeChat, Zhang Xiaolong mentioned an interesting daily perspective, "We don't want to make choices for users, but to put users in an environment where they can make their own choices." Initially, they also discussed whether to create a special drift bottle, for example, one that only people from a certain place could receive, or one that only men or women could receive. However, after consideration, they decided to only provide the most basic functionality and leave the room for users to explore. This aligns with the product philosophy of OKX Web3 Wallet, which only provides the product and does not make choices for users. OKX Web3 Wallet covers five major sections: wallet, DEX, DeFi, NFT market, and DApp exploration, meeting users' one-stop Web3 needs. Users can choose the features they want according to their needs and explore Web3 in their own way.

As a firm builder and leader in Web3, OKX Web3 Wallet is continuously meeting the diverse needs of its users in its own way. They firmly believe that Web3 will ultimately bring freedom and fairness, and they are committed to persisting and reaching far, leaving it to time.

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