Inventory of 6 on-chain message notification tools: Will the Web3 communication layer usher in fierce competition?

With the increasing maturity of various encrypted products, their user groups and influence are constantly expanding, but the problem that seriously restricts the user experience at present is that it is still difficult for users to instantly obtain the product dynamics on the chain.

For example, DeFi lending users cannot directly get the notification of insufficient collateralization rate of their positions, and may face the risk of liquidation; token holders cannot obtain timely notification of the voting and closing of important governance proposals; cannot obtain timely access to on-chain contracts or options expiration announcement of.

Therefore, on-chain information notification service protocols are emerging on a large scale. They can help users obtain on-chain dynamics in a timely manner. The goal is to build a decentralized information push protocol that allows users (ie wallet addresses) to receive data from various Dapps, Smart contracts or even centralized service notifications.

The following chain catcher will introduce several on-chain information notification service protocols, including Ethereum Push Notification Service (EPNS), Dialect, HAL, Notifi, XMTP, etc.

1. Ethereum Push Notification Service (EPNS)

Ethereum Push Notification Service (EPNS) is a notification protocol that helps users receive information on the Ethereum chain, and also allows smart contracts and service providers to send notifications to users.

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In December 2020, EPNS completed a $750,000 seed round, with the participation of a number of industry insiders and venture capital institutions, including the former CTO of Coinbase, the co-founder of Gitcoin, and the head of MakerDAO. In March 2021, EPNS completed another $660,000 seed round expansion financing at a valuation of $12 million. Binance Labs, LD Capital, etc. participated in the investment.

It is understood that the EPNS platform consists of three main players – service providers, channels and subscribers. Providers are Dapps or smart contracts that want to send push notifications. Subscribers are users who subscribe to a channel and want to receive relevant push notifications. A channel refers to an information push service activated by the EPNS protocol. Service providers will set up their own channels to send notifications when certain events occur or trigger certain parameters, and users can choose to subscribe to the channels they are interested in.

 

Users can download the APP of the project or download its extension application in a desktop browser, receive subscription notifications by binding the address on the chain, and present them in the form of a pop-up window. The mainnet of the project was launched in early January this year and currently has more than 50 channels and more than 10,000 users.

PUSH is the native governance token of the EPNS protocol, providing holders with two main benefits: governance rights and receivables. Governance is the right of token owners to vote on protocol decisions, including pledge structure, pledge mechanism, and reward distribution rate. Rewards receivable means that when a service provider creates a channel, at least 50 DAI must be deposited into a common pledge pool, and the pledge pool will pledge all DAI to AAVE to generate continuous passive income, and the income will be added to EPNS according to subscribers. The time proportion of the channel is allocated to PUSH holders.

Official website: http://epns.io/

 

2.Dialect

Dialect is a message notification platform based on the Solana mainnet that helps users receive notifications automatically triggered by events on the chain. In addition to push notifications, Dialect can also help developers build chat between wallets in their Web 3 applications.

 

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On March 2, Dialect announced the completion of a $4.1 million seed round, co-led by Multicoin Capital and Jump Capital.

Dialect features support for chat functionality between user wallets, processing on-chain information through the use of publish-subscribe (pub-sub) messaging. Currently Dialect v0 supports one-to-one messaging between wallets, and future versions will also support one-to-many and many-to-many messaging.

The team has open sourced the protocol framework on Github, which has 3 practical components:

  • React components allow developers to quickly and seamlessly integrate Web 3 notifications and chat into Dapps.
  • The Saber monitoring service component is used to build a Twitter bot, monitor the transfer information on the chain in real time, and publish tweets.
  • The Monitor component is a Dialect simplified notification center integration framework that provides developers with APIs to extract on-chain data, convert formats, and generate notifications to track on-chain resources of dApp subscribers.

Officials say they expect a plethora of Dialect-based messaging apps to build conversational DEXs, on-chain chat apps, and even full-featured Web3 inboxes.

 

Official website: https://www.dialect.to/

 

3.THINGS

HAL is a powerful and easy-to-use blockchain data listening and automation platform that helps anyone automate and query blockchain data. The mainnet of the project was launched in June 2020. It has integrated Ethereum, Polygon, xDai, BSC and Avalanche, and supports users to subscribe to notifications of nearly 40 DeFi protocols such as Aave and Compound.

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In February of this year, HAL has received $3 million in seed funding led by CoinFund, Eden Block and Animoca Brands, with participation from Hashkey Capital, Wintermute, SkyVision, imToken Ventures, Bitcoin.com and others.

 

The working principle of HAL is based on triggers. Currently, it supports three types of triggers, such as observing contracts, observing transactions, and watching events. HAL supports several different types of actions that can be invoked when triggers set by the user are fired, sending notifications to the user’s mailbox, Discord, Telegram, and Slack accounts.

Currently, the scenarios supported by the project include token price tracking, on-chain settlement tracking, transaction pair creation tracking, loan interest rate tracking, etc. Taking the token price monitoring function as an example, the user can complete the monitoring setting by using a simple “IF…THEN…” statement according to the web page process. For example, if a user wants to monitor the BNB price of Sushiswap on the BNB Chain, just follow the steps below. Click the drop-down menu to complete the monitoring settings. When the token price on the chain reaches the set conditions, the user can receive a notification from HAL.

It is worth noting that Aave, Bancor, Gitcoin and other protocols have also integrated this product in the front-end. For example, some of the Gitcoin proposal interfaces support users to set a reminder for the end of proposal voting through HAL.

Official website: https://www.hal.xyz/

 

4.Notifi

On March 3, 2022, Notifi completed a $2.5 million seed round led by Race Capital and Hashed. The funds raised will be used to develop the team and build the infrastructure. Notifi will have a simple API design, offering customizable advanced features that can easily integrate dApps and Web3 applications. At present, users can apply to participate in the testing of early products on the Notifi official website.

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The founding team of Notifi comes from technology giants such as Meta, Microsoft, Oracle, Amazon, etc., and has the ability to quickly deliver products. The CEO and CTO, in particular, who were previously in charge of Oracle’s cloud service offerings, were frustrated with Web3’s lack of enterprise-grade notifications and created Notifi, aiming to be the Twilio of Web3, simplifying communication between all Web3 messaging channels.

It is reported that Notifi will launch three products:

The Notifi API allows developers to unlock complex communication infrastructures with simple APIs that can provide a native user experience for all applications in the world.

Notifi Center provides users with a customized information notification experience that will allow users to view and manage all information in the web3 world from both mobile and web.

Notifi Push enables marketers to create cohesive multi-channel engagements that drive business growth and retain their user base. Use wallet data to choose your audience and push your messages or airdrops at scale!

 

Official website: https://notifi.network/

 

5.Tenderly

Tenderly is a comprehensive Ethereum developer platform for real-time monitoring, alerting, debugging and simulating smart contracts. Users can create custom scenarios to track and analyze on-chain data in real-time.

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At present, Tenderly supports the use of more than 10 public chains including ETH, BSC, Polygon, Fantom and their test chains. Recently, it also supports the use of Optimistic, Arbitrum, zkSync and other public chains of Ethereum Layer 2.

Compared with other on-chain message notification protocols, Tenderly has more powerful functions, such as wallet monitoring, transaction filtering, visual debugging, smart contract analysis, etc. It also supports developers using Soldity and Vyper programming languages ​​for development.

Obviously, Tenderly’s users are more developers, and the products are divided into 3 price points: free version, development version ($80/month), and professional version ($500/month). The free version can set up to 3 alarm notifications within 15 minutes, while the development and professional versions are real-time notifications.

Tenderly monitors the function calls of smart contracts and reacts, so that operations on the chain can be automated and intelligent. For example, NFT developers can monitor when contracts are minted and automatically publish announcements on Discord. Users can use notifications to follow wallet balances and contract operations to monitor whether developers are doing what they are expected to do.

 

Previously, Tenderly completed a $40 million Series B financing, plus the previous seed round and Series A financing, raising a total of $58.6 million. Investors include Accel, Point Nine Capital, Version One, and Coinbase Ventures.

Official website: https://tenderly.co/

 

6.XMTP

XMTP is a crypto-native communication protocol that connects communities, protocols, applications and users, and will enable communication between crypto wallets through its own independent protocol and decentralized network.

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At the end of August last year, XMTP completed a $20 million Series A financing led by a16z Crypto, with participation from Atelier Ventures, Betaworks, Alchemy, Coinbase Ventures, Scalar Capital, and Not Boring Capial.

 

The service scenarios envisaged by XMTP include: when there is a problem with the protocol, dapp, etc., can send a message directly to the wallet; establish a better way to prevent spam and unsolicited messages by incentivizing coordination; establish a system that all Dapps can use unified, decentralized inbox and more.

At present, there are not many project details disclosed by XMTP, but it can be seen that the project not only hopes to become an on-chain event notification protocol, but also hopes to become an on-chain wallet communication infrastructure to build a next-generation network to build a basic layer communication protocol.

Official website: https://xmtp.com/

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/inventory-of-6-on-chain-message-notification-tools-will-the-web3-communication-layer-usher-in-fierce-competition/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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