Organized On-Demand Analytics Delivery via MetricsDAO

Web3 Bounties
1

Name of Project

MetricsDAO

Background

MetricsDAO is uniting the best analytical minds in the space to build the future of crypto analytics. Thousands of analysts are congregating to provide blockchains with the data and insights they need; it is providing a systematized approach to organizing data, making it analytics-ready, and providing an on-demand bounty structure to motivate analysts to deliver outcomes.

MetricsDAO’s community has completed curating Harmony’s data for analytic access. This was structured via MetricsDAO Harmony Proposal in November of 2021.

MetricsDAO also developed a curated data view that contains several insights that are valuable to the Harmony community. The delivered insights included the following:

  • Daily number of wallets (wallets with > 0 balance)
  • Daily number of active wallets (wallets with any transactions in/out that day)
  • Total value locked on all wallets
  • Daily number of transactions
  • Locked assets and number of transactions
  • Locked assets and number of transactions (monthly) per project (DFK, Tranquil)
  • Locked assets $ on ETH bridge
  • Number of on-chain delegators
  • Total $ staked
  • Number of validator pools

The Github for Dashboard can be found here.

The programs that MetricsDAO ran to generate the analytics contained in the dashboard resulted in over 140 pieces of content being generated by our community as well as disbursement of 100K+ in ONE to 50+ MetricsDAO community members. For more details, you can view MetricsDAO’s analyst activity dashboard here.

MetricsDAO’s Harmony Bounty program resulted in 6 grand-prize winning submissions. The details of these submissions can be found below:

Additional details on these winning submissions can be found in this Mirror post.

Proposal overview

With this foundational dashboard in place, MetricsDAO is now able to continue running analytics programs for Harmony focused on delivering user insights to the Harmony community.

MetricsDAO attracts top-of-the-line analytical minds and then uses a streamlined, effective 4-step process to solve analytical challenges for blockchains at scale and deliver organized on-demand analytics:

  1. Question Creation: The analytical needs of decentralized organizations are discovered and organized into Questions that can be addressed by Analysts. Effective prioritization, achieved through community-driven upvoting, helps center Analysts on addressing the right challenges at the right time.
  2. Solution Generation: Analysts address questions with results, visualizations, insights, and further questions that generate solutions.
  3. Solution Review: Public feedback, as opposed to the private loops used in traditional analysis methods, ensures that a solution meets data and delivery standards — does the solution solve the challenge, and does it do it well?
  4. Partner Token Distribution: Programmatic compensation rewards analysts for the results they deliver.

MetricsDAO provides an organized and proven method for completing each step in the Organized, On-Demand Analytics Delivery process. In the event data is not freely available through third party data providers, MetricsDAO also works with our data curation team to build queryable datasets for your chain or protocol as consulting services.

MetricsDAO will work closely with the Harmony team to understand the data needs of the community. Additional solutions will be delivered based on the needs of the community. Needs from the community will be collected and voted on here.

After speaking with @giv, I understand that there are some blindspots in the Monthly newsletter with regard to metrics. If we continue with this engagement, directed asks from the Harmony team can be prioritized and presented to our community of analysts.

This proposal will be most successful for all parties if the Harmony team takes an active part in challenge generation and prioritization.

Solutions will be delivered until the bounty budget runs out.

Proposal ask

$50,000 budget in $ONE.

  • 15% would be provided to MetricsDAO treasury for operations.
  • The rest would be delivered as bounties for analysts who solve Harmony’s needs.

Metrics for success

  • Generate ~300 dashboard submissions from MetricsDAO community members

External links

Website

Bounty Board

Bounty Metrics

Github

2

I like the dashboard ideas being addressed, I would like to see a “payment upon completion” type system where deliverables unlock the payment. The MetricsDAO still gets its 15% on top for bringing up these ideas and finding the developers to build them.

The only question I have is what kind of support could the Harmony community expect as far as bug fixes go on apps that your DAO work on? Would bug fixes cost money as well?

3

Thank you for submitting a proposal to Harmony’s $300M Ecosystem Fund. We are in the process of reviewing your proposal and will assign a representative on behalf of the Grants Ops team.

We would also love :blue_heart: to have the Harmony community participate to ask questions and provide feedbacks.

This is assigned to @Mattyontap

If you have more details to add, please do so by replying to this thread.

5

Hi John!

I’m glad you’re excited about this idea. At MetricsDAO, we run ongoing programs and only disburse funds to our participants when their work is complete and has gone through a community driven review process.

With regard to your bugs on apps that our community works on, we can always continue to iterate and upkeep top work. In cases like these, we work to stay in contact with the analysts and developers and ensure that they are made aware of any potential bugs or issues. We don’t generally expect to utilize funds for these purposes but it may depend on the scope involved. We prefer to direct funds towards spurring new projects and find that our community members often upkeep their own work.

6

A little over a week ago, Giv asked us for some insight in the wallet drop-off noticed on the Harmony blockchain explorer.

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Credit: potmo

After verifying that there were no data integrity issues we launched a bounty to our community to dive into this anomaly.

You can view submissions below:

The addresses that were boosting the active wallet metrics were only sending a single transaction. The consensus from these analysts is that there was a large drop off in addresses sending transactions, behavior indicative of potential bot activity.

Key Findings

  • 99% of the new users on Harmony only performed 1 transaction

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Credit: issui

  • Active wallets were mostly comprised of new users performing their first and only transaction on Harmony

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Credit: pinhearst

  • Genuine users maintained relatively flat activity (active users excluding the below 0xded address)

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Credit: ant

Additional findings, from the above linked reports:

  • These new users (1tx users) were isolated in Harmony and were not found to have on-chain activity registered on Ethereum and Polygon
  • The sharp decline in active wallets did not result in a decline of equal magnitude in users swapping and questing on DFK
  • The findings indicate that majority of Harmony’s new users were bots and the growth observed was highly conflated for a period of time
  • New metrics to identify organic users should be considered when examining user activity on-chain

Addresses of Interest

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Credit: ant

0xdedb8ca3ae4707917e7b0fe55e99a6cd2892bc90 - created by 0x8709DC15D12a6fCA2827580E6dFD05C90b8B540b on 2022-04-11 which is a contract that appears to do nothing.

0x8709DC15D12a6fCA2827580E6dFD05C90b8B540b - (sub)

0xd8e0f0c3bf475ad11da74eeb7b06d23dfb3c590f - (main)

Sub, up until 2022-05-31 was receiving ONE from numerous accounts before sending it all to Main

From creation until late May, this 0xded address accounted for 75k plus transactions/day, until it abruptly suspended operations.

793×509 24 KB

Credit: potmo

More information, explorer sleuth work, and on-chain analysis can be found in each of the above links.

2 Likes
7

Fantastic analysis, thank you!

1 Like
8

Excellent summary, thank you so much :pray: :+1:

1 Like