If you are a Defi degen, you probably know about DeBank. For newcomers, this is a platform that helps you track your crypto portfolio comprehensively. The dApp supports 37 chains and allows you to have a clear overview of all assets you own on any of those 37 chains in a particular wallet. DeBank just launched a new feature called DeBank Hi, that will enable users to send on-chain and encrypted messages from wallet to wallet (talk about anonymity).
Here are the details.
DeBank Hi: How it Works
According to the Debank Hi whitepaper, they are selling Attention-as-a-Service (AaaS). They want to monetize the user’s attention so that every time a user logs into DeBank Hi to read a message sent to them, their attention to the sender of the message is rewarded.
They have achieved this by attaching a fee to every message sent. In this way, users will not send irrelevant and unnecessary messages.
As they put it, in Web2, users are,
“constantly bombarded with information and advertisements. Centralized platforms take all the profit by selling users’ attention. Trading the users’ own attention allows them to take back the initiatives and get compensation for the time and energy spent.”
Attention Asset as an NFT
Since attention is not fungible, the fee attached to the messages is minted by the reader as an NFT. Every attention minted by the same goes into an NFT collection. Therefore each user will have an NFT collection of their own, based on how many messages they receive over the course of their blockchain lifetime.
The message price will be determined by an offer price curve. The price of sending user X a message will increase as that user receives more messages (and the messages remain unanswered).
How to Try ‘Hi’
- Go to DeBank and register an account on their L2. Note that you will need to send a transaction to the Ethereum mainnet.
- Deposit some USDC into DeBank. You will these funds to send messages. Note that you can withdraw to the USDC to mainnet later.
- Send a message to anyone. If you do not know anyone on DeBank, you can send us a message.
Web3 is the future. So far, the financial, and gaming industries have managed to move over into web3. The DeBank Hi project, is an attempt o move the most basic form of social communication – chatting, onto web3. At first, it might seem complicated and even expensive, but so did Defi on Ethereum at first. Over time, better methods will be invented, but it sure does feel nice to be at the beginning of it. Cheers!
Vincent Munene is a freelance writer and a great blockchain enthusiast. Blockchain has changed his life in terms of financial freedom and in return, he likes to educate people and keep them up to date on everything blockchain. He is a Biochemist by profession and also loves to play the piano.