Within 24 hours of the launch of $BDP and $bALPHA 2 years ago, @bigdataprotocol had over $5.5bn in TVL
Big Data Protocol announced itself to the world as a #DeFi protocol powering a liquid marketplace for commercially valuable data
A 🧵 on #BDP, its growth, token and future
"Data is the new oil"
Many already get it. Some will, some won't. What do you think powers #ChatGPT? Data!
Google, Apple, Amazon and all the big tech companies remain powerful because of the data they have
Today, access to data is much easier than its ever been.
Platforms such as @oceanprotocol has made it possible for just about anyone to tokenise their data and make money from it
One problem with that though is the fact that quality of data a person is selling cannot be fully determined
This is where #BDP has an edge
The network has over 14,000 professional data providers who curate and provide data to ensure data quality and it's commercial value
This list includes both #Web2 and #Web3 data providers
It also makes these data liquid, by leveraging decentralized exchanges
Solving 2 problems
The numbers speaks for themselves
Everything works in three steps
🔸 Earn $BDP by staking in the seed pools
🔸 Earn $bALPHA by providing BDP/ETH or bALPHA/ETH liquidity
🔸 Redeem $bALPHA for datasets
All through the bear market, the team has been working non stop, securing partnerships after partnerships. From top real world companies to #Web3 projects
Their most recent partnership is with @diffbot, the world's largest automated knowledge Graph provider
When #ChatGPT was asked about the implication of the partnership with #Diffbot, it highlights the significance of the partnership with Diffbot and how it will shape the future of data and #AI in #Web3
Quite exciting stuff
Tokenomics
@bigdataprotocol has two main tokens, $BDP and $bALPHA
🔸 $BDP use case
> Farm datasets + LP and farm $bALPHA
> Data Market fees + burning
TS: 80m
CS: 24m
CMP: $0.15
MC: $3.7m
FDV: $12.2m
ATH: $14.99
🔸 $bALPHA use case
> redeem alpha collection in the data room for lifetime access
TS: 18,000
CS: 18,000
CMP: $31
MC: $558k
FDV:$558k
ATH: $42,100
With the value of data now being pronounced, thanks in no small part to the advent of #ChatGPT, attention is now being drawn to @bigdataprotocol
You can see their data market powered by @oceanprotocol here 👇
bigdataprotocol.com/datamarket
The stage is set for $BDP and $bALPHA
If you found this thread informative, please like and retweet main tweet here 👇
This thread is part of an independent research by @Mere_Admiano
So #DYOR and make your financial decision, or not
💛 For more analysis like this, follow @Admiano
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