FAQs
๐ What's Masma, in a summary?
Masma brings about a revolution in Web3 User Experience through ERC-4337 based Account Abstraction framework.
Think about us as a overlay "mod" on your favorite game. For example, World of Warcraft 3 was forked ("Copied") and modded into DOTA, which is similar to league of legends. The DOTA devs changed the user interfaces, and user experiences into a whole new game (and added their own features), which ended up creating a whole new genre (MOBA) people loved it! Masma is doing the same thing for the whole Web3 industry!
This innovation allows non-tech-savvy users (a massive addressable market) to navigate Web3 with the same ease and familiarity as a traditional Web2 experience. e.g. PayPal, Wechat, Robinhood, Venmo, etc.
Moreover, Masma serves as a universal gateway to all Web3 dApps, offering a simplified and seamless user-journey with Zero compromise on security of users' assets and data which are held by every user in self-custody.
This innovation allows even non-tech-savvy users to navigate Web3 with the same ease and familiarity as traditional Web2 experiences.
Moreover, Masma serves as a universal gateway to all Web3 applications, offering a simplified and seamless user journey without any compromises.
๐ฆธ Why Masma calls itself a "Ultra App"?
Every Masma user will have an AA wallet that's built on top of a wallet infrastructure secured by FIPS 140-2 standard. It's the most secure self/non-custodial and insured wallet in the world (yes, it's insured similar to FDIC).
Masma's Meta User Interface (MUI) is the user experience modded versions of underlying blockchain protocols which provides the financialization of trust, transparency, speed, cost efficiencies, and more to be on-chain.
At the heart, Masma is realizing the Ultralization of decentralized applications. AKA, we are able to horizontally move into any market and continuously become bigger than any Super App ever created. ever.
Think Masma like "PayPal & CoinBase had a baby with MetaMask and WeChat".
In short, a power-packed combination.
Masma acts like an all-in-one Web3 Super App in which users can access many Web3 applications from a single interface -> DeFi, Bridges, NFTs, Games, and more.
Masma allows developers from any project/application to add their dApp to our platform.
Users are able to access all the dApps from a single unified interface for a seamless Web3 experience from any chain and one single account.
๐ What products/services are currently offered by Masma?
Smart Exchange: Masma's reimagined the DEX (Decentralized Exchange) experience.
Send/Receive: On Masma, sending and receiving funds is now as straightforward as using PayPal.
Social Profiles: Every Masma user possesses a distinct username and a personal social profile.
In-app Chat: Our in-app messenger on Masma.
For more details on the current products, refer here.
๐งโ๐ป What's the tech stack that Masma makes use of?
Masma is a self-custodial Smart Contract platform that incorporates:
securing users assets and data with the best of the best cryptography standard FIPS 140-2 ,
Web2-like user experience & flexibility provided by ERC-4337 Account Abstraction protocol.
Masma builds a universal platform to achieve:
Simple and familiar use experience.
Guided and mistake-proof frameworks.
Fast and cost-effective solutions.
Full Web3 benefits with zero compromise on security and self-custody.
๐ How Masma stands out when compared with other Crypto Exchanges/Web3 Platforms?
Masma is laser focussed on solving 1 problem: Bad Web3 User Experience
Most of the Crypto exchanges out there either trade ownership of users' assets for a user-friendly interface Or offer complete asset ownership with a horrible User Experience where onus lies on the user to understand the complexity of underlying blockchain tech.
Masma trades none for the other.
At Masma, user has a complete control over its assets through self-custody + an intuitive, automated, seamless, and easy interface to use dApps in DeFi, NFT, etc.
We are expanding the range of features to be included:
Wallet/transfers
Investing/Trading
Social/Communities
E-commerce/Marketplace
Universal Identity, login from anywhere Masma uses Account Abstraction to significantly improve the user experience on each of these genres in Web3.
โ
Is the App ready to use?
Masma is currently in Alpha (v0.0.093) as ofย Oct 1, 2023.
The private Alpha has a closed group of 30+ users, primarily family, friends, select community members, and investors who are testing Masma.
The private Alpha has a closed group of 30+ users, primarily family, friends, select community members, and investors who are testing Masma.
The Alpha is primarily stable and the features that are showing on Masma are working:
Create Smart wallet via email sign up,
Search friends,
Add friends,
Deposit funds,
Fund transfer,
Messaging,
Buy/Sell/Swap/Send tokens, and more.
We know, we still have a lot of work to do to achieve parity with the primary applications, i.e., Coinbase/WeChat. We release every 2 weeks, so the above is often out of date. The 0.0.093 means we've had almost 93 releases now.
Create Smart wallet via email sign-up,
Search friends,
Add friends,
Deposit funds,
Fund transfer,
Messaging,
Buy/Sell/Swap/Send tokens, and more.
Yes, we know, we still have a lot of work to do before we achieve parity with the primary applications i.e. Coinbase/WeChat.
We release every 2 weeks, so the above is often out of date.
By the way, the 0.0.093 means we've had almost 93 releases now.
View Masma product demo: LINK
Masma is no longer just talking and talking.
We know users want easy-to-use Web3 products.
We're now looking forward to scaling the product and bringing the vision to life (Sept. 2023).
Click here to view the extended roadmap:
Coming Soon.
๐ How big do you think is the market for Masma?
HUGE. Period.
Social/Payments/Crypto platforms have the biggest and most active user bases in the world โ WhatsApp/WeChat/PayPal/CashApp/Coinbase/Binance/MetaMask currently have 3bn+ users.
Moreover, the high-frequency, low-margin nature of social/chat makes it a powerful lead generator for the lower-frequency, high-margin revenue generation opportunities from payments/crypto investing features.
Don't take our word for that. The numbers below are the market sizes for mobile transactions & in-app spending:
๐ Graphical data:
This chart provides a comparison of daily crypto trade volumes between the Decentralized Exchange (DEX) Uniswap on both the Ethereum and Polygon networks and the Centralized Exchanges (CEX) Coinbase and Binance.
The data is presented using 7-day Moving Average.
Currently, number of crypto users on:
CEXs = 400+ million
DEXs = 80+ million
Masma sees a significant opportunity in facilitating a seamless transition for Centralized crypto users to access Decentralized platforms offering enhanced user-friendliness value, safety, and control.
Source: Link
๐ Graphical data:
Monthly DEX volume divided by CEX volume, as a percentage.
Includes largest exchanges with trustworthy reporting of exchange volume metrics.
This shows that there is a clear trend of users migrating to on-chain decentralized applications.
Masma is gearing up and all set to catch hold of the next wave of users migrating.
Source: Link
๐ช Why does Masma need a token?
Coming Soon.
๐ฐ How will Masma make money?
At Masma, we generate revenue through a diverse range of channels.
As the future's leading Web3 Ultra App, our high-frequency chat/social platform provides a strong lead generation tool driving high-margin revenue opportunities.
Our revenue falls into 4 distinct categories, each offering unique opportunities for high-margin, lower-frequency earnings.
Transaction fees
X% Crypto/fiat on/off ramping (Fees from Third-party apps)
X% + gas fee on Masma "Cash Balance" transfers to friends/Family
X% + gas fee on Masma "Cash Balance" transfers for business
Includes transaction protection via smart contract.
X% + gas fee on Crypto buy/sell/swaps
Masma Subscriptions
$X/monthly access to premium features/benefits.
Mini-apps
X% Fees for using our platforms.
X% Fee on secondary marketplaces.
Advertising fees
50% goes to the users (restrictions), 50% to Masma
๐ซ Who's the team behind Masma?
โฒ๏ธ When was Masma founded?
Masma was founded in October 2022.
๐จโ๐ Who founded Masma?
Julian Au started as a solo-founder.
๐ Where is the company located?
We are a 100% remote team with our members spread across the globe.
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