2/17 Trending user actions: this tells us high-level how many people are entering/exiting a community, and how existing members act (accumulate or rotate/sell). Communities naturally go through cycles and turnover, below we'll see how each community has evolved.
3/17 Over 50% of token activity in @banklessDAO comes from new members, with lower trending dump/exit numbers recently. It's clear they're doing a great job building up their community in a consistent manner.
4/17 @blvkhvnd is still seeing healthy turnover in new members and exiting members as a more consistent community forms around the team. It's worth noting that Bankless did an airdrop versus Blvkhvnd which did a crowdfund - so it's possible that causes differences as well.
5/17 @FWBtweets has seen an increase in new buyers and also dumpers recently. looking at past trending activity, it looks like this is mostly cyclical (possibly around large events/product releases?).
6/17 @AxieInfinity is super interesting here, they have a lot fewer users who are just selling some or accumulating, most are either buying in or selling out completely. Probably requires some deeper cohort analysis here, but makes sense as people gain/lose interest in the game.
7/17 Liquidity and inflation: Where tokens are sourced and the supply of tokens is very important to a community (and price). We'll see below that each community is actually fairly different in terms of where users get their tokens, and how their balance trends over time.
8/17 For @blvkhvnd, their liquidity is most off of Uniswap. Average balances are still wildly swinging over time, as tokens find more stable holders and get spread out over a larger community.
Unknown contracts haven't been decoded on Dune, but this one is a staking contract.
9/17 @AxieInfinity has a really interesting trend, more most AXS comes from user sending to user versus from an exchange. I'm sure this has to do with some game mechanic - if anyone knows please comment below! Average holdings have stabilized at around 5 AXS over time.
10/17 @banklessDAO seems to have the most amount of liquidity sources, from Gnosis Safe payouts to all sorts of exchanges. I'm going to assume there isn't a clear liquidity or rewards strategy.
Average tokens sit around 32k, which I think was the average airdrop amount.
11/17 @FWBtweets has most of their liquidity on Uniswap, and clearly has migrated all of it to Uniswap v3. It's interesting that less liquidity seems to come from user to user over time - could be less tipping. Average holdings have settled around 75 tokens.
12/17 Membership and Inequality: The last section shows the cumulative average balances and also the Gini coefficient over time. This is to help us understand how many users have access to certain membership tiers, and if the token distribution is "fair" or not.
13/17 First up is @blvkhvnd, it's clear to me there are possible membership tiers at 100, 300, and 800 tokens. The Gini coefficient is going down over time, which I'm going to interpret as quite a few whales sold out to new members.
This is consistent with what we saw earlier.
14/17 @FWBtweets looks like it has membership tiers at 1, 5, 75, and 100 tokens. The Gini coefficient has trended evenly across time - looks like early holders/whales likely haven't sold much out yet. Pretty cool!
15/17 @BanklessDAO doesn't seem to have super clear membership tiers, but instead a fairly linear pattern. Maybe there's more they could do to motivate buying up to tiers? The Gini coefficient has trended up recently, which seems counterintuitive given the number of new buyers.
16/17 @AxieInfinity has the distribution and Gini coefficient I would expect of any game that's been around for a while. Some legendary users have likely amassed a war chest of AXS, while new players have just begun the grind.
Scaling game economies is hard!
17/17 I see this dashboard as a tool to give us a jumping-off point for community/token planning and analysis.
I'll personally be diving deeper and doing some write-ups soon, so be sure to follow me for more web3 data threads like this!
Farcaster is taking crypto by storm, recently crossing 10k in DAUs. But how does it all work, and how can you work with the data?
I'll walk through the whole protocol and all data structures, and teach you how to query it using Dune and Neynar
📚Link to guide at the end
First, you need to understand what's onchain and what's offchain.
The onchain part is split into three contracts to purely handle user registration. When a user registers, they are given an fid and custody address, as well as some storage units.
Here's an example transaction, and I've broken down this transaction in a query so you can see the Dune tables that you should use to access this data.
Our first weekly quest is live! Submit your best data work on @jokerace_xyz. This will open each week at noon on Wednesdays and close at midnight on Sundays.
You'll get to earn tokens, and get direct feedback from me and the community.
Having a Bytepass is required to participate - a snapshot is taken right before each quest.
Don't know what that is? Check out this thread explaining the Bytexplorers and how to join us.
You can submit any kind of data work. The goal here is to continuously curate the best work in the data ecosystem, while letting you build your reputation onchain.
Get those queries, dashboards, reports, scripts, tools, and models in here!
I'm launching the Bytexplorers, an onchain community for crypto data people to learn and earn together.
Anyone can join by minting a bytepass, and then participating in weekly quests.
🔍 link to learn more and join is in my bio 👈
The first quest will be a set of weekly questions on
jokerace, where you can submit anything you've created. I want to see the work you are most proud of - it can be queries, charts, reports, etc.
Quests start each Thursday. You must mint a bytepass beforehand to participate.
By participating in quests like the one above, you can earn "guild tokens" and move up in "tiers". More quests on more platforms will be released over time.
The "guild token" count is the number in the bottom left of the Bytepass, and the "tier" is the symbol in the middle.
Ready to become part of the top 1% of data wizards in the Ethereum space? 🧙🏆
I've put together my most comprehensive guide on getting the most out of @DuneAnalytics , covering advanced topics and many of my own little tips and tricks.
(link to guide at the end)
If you don't already know basic SQL and how to navigate Dune tables - start with the beginners guide.
If you understand one protocol like @Uniswap v2, but cannot easily break down other protocols by yourself - you are at the right level for this guide.
📚 Want to learn about the ERC standards, deployment trends, and example contracts?
Then this new @DuneAnalytics dashboard is for you! It covers all the topics that hit your timeline including token vaults, account abstraction, proxies, and more.
Today I'll cover token standards on Ethereum mainnet - starting with ERC20. This is the basic fungible token that copies the features of the network token (ETH).
Monthly deploys have consistently increased, up to 30k+ new ERC20s deployed each month in 2023.
Unsurprisingly, WETH, USDT, and USDC take the top trending spots. Other high volume tokens like XEN and SHIB show up as well, and also the new @ArkhamIntel token at 0x6e2a43...