The Rise of Super Apps: A New Paradigm for Web3

In the cryptocurrency space, a new trend is emerging - the concept of Fat Applications (FAPP). This idea posits that applications providing comprehensive services will accumulate the greatest value. This is similar to the development model of the Web 2 era, where dominant applications often start from a specific professional field and, after gaining a dominant position, leverage network effects by offering diversified products.

Currently, some leading applications in the crypto space have shown this trend. They continuously expand their range of services, attempting to provide all crypto-related products within the platform. This model is applicable not only to centralized exchanges but also to purely on-chain Web 3 products.

From an income perspective, the most successful crypto protocols and applications currently include both centralized and decentralized projects. This indicates a new "paradigm shift": value accumulators are moving from the protocol layer to the application layer.

In the future, native Web 3 applications may surpass the protocol layer in the battle for value. This shift may be achieved through two pathways: application chains (Appchains) and all-encompassing super applications.

Super apps can be understood as "WeChat for the crypto space." While this may sound somewhat unsettling, this vision is likely to become a reality. The internet typically follows a long-tail model: a few dominant players capture most of the market, while many smaller players compete for the remaining share.

From a historical perspective, we can compare the current blockchain to the religion of the Middle Ages, and the applications to cities. Over time, applications (especially super apps or application chains) may accumulate more value, similar to the process by which medieval cities gradually freed themselves from the control of the church.

The concept of application chains was proposed as early as 2016, allowing applications to have their own customized chains to optimize specific use cases. We believe that the best application chains have the potential to develop into super applications.

Some projects have started to attempt to build super applications that integrate multiple functions. For example, AAVE is trying to build an application that combines social and financial aspects, and projects like Ribbon are also moving in this direction.

Successful super apps often start with a single use case, accumulating a key user base before expanding horizontally. They may launch their own product wallets, enhance user experience, and offer customized features.

In addition to a user-centered development approach, "Trojan Middleware" is also a potential super application development strategy. This method attracts applications by providing a better developer experience and advanced features.

Ultimately, super applications may become wrappers for various blockchains, providing users with a seamless experience. They could become the main gateway for users to access a variety of features and services.

However, the power struggle between applications and the underlying layer is inevitable. Applications will seek their own ways of value acquisition and impose greater control over user services. This may lead to a blockchain specifically targeting applications becoming an execution option.

This trend may drive the value growth of applications, as greater choice corresponds to the ability to make profitable decisions more frequently. The concept of fat applications is not a pipe dream, but rather a scenario of a paradigm shift that is very likely to occur. In this process, certain participants may become leaders in composability.