Chainbeat Newsletter: Brave & BAT

12/11/2019

Welcome to the newsletter from the Chainbeat team. The web 3.0 ecosystem is growing rapidly. Our goal with this newsletter is to provide insights and highlights on new and interesting projects that are building the decentralized future of tomorrow.

Chainbeat Links: Chainbeat | Sign up | Newsletter Sign up | Chainbeat Blog

This week’s featured web 3.0 project: Brave & the Basic Attention Token(BAT)

Brave is a web browser founded by Brendan Eich, the creator of Javascript and founder of Firefox Browser. Brave comes with a built-in ad-blocker and its a lot faster than Chrome & Safari in both mobile and desktop environments. Unlike Brave, other browsers load ads that can potentially add up to 5 seconds of mobile load time.


In Brave, all adverts and trackers on a website are blocked and users are alternatively given the option of opting into the Brave Rewards program. The Brave Rewards program rewards users with Brave Attention Tokens (BAT) for viewing non-intrusive ads. The brave browser anonymously monitors user’s attention, and users are rewarded with BATs for their attention. Since users are opting in to view ads and are incentivized for their attention this creates a new ecosystem that enables advertisers to achieve improved ROI, better targeting and reduced fraud.

Here is a graphic that illustrates the lifecycle of BAT:

Publishers receive BATs based on the user’s attention, and the revenue of advertisers increases as inefficiencies decreases. Here is Brendan Eich explaining why he created Brave and the purpose of BAT:

Data Insights

A chart from Brave showing the staggering active user growth of Brave since launch last year:

Chainbeat Dashboard for Basic Attention Token depicting user engagement and token volumes across the board for this year.

  • This December, Brave passed 10 Million Monthly Active Users(MAU) and saw 19% Growth since version 1.0 launch last November.

  • Brave went from 8.7 million MAU in October to 10.4 million MAU at the end of November, a 19% increase across all platforms. This represents a doubling of Brave’s MAU in one year. Daily active users for Brave nearly tripled in the last 12 months, to 3.3 million.

  • As of December, there are 340,000 creators signed up for Brave Rewards. There have been up to 287,826 unique addresses that have interacted with the BAT contract this year.

  • In total there are 220,357 BAT Token Holders with an average balance of 6806 BATs and a median balance of 29.56 BATs. The top token holder has 135,286,008.20 BATs around 9% of the supply. Sign up for Chainbeat and add the BAT token address for detailed analysis.

Our Thoughts

  • We are big fans of Brave and what they stand for and how they are a great example of building and enabling the adoption of web 3.0 technology.

  • With all the haggling around in the blockchain space about which blockchain is better and all the larger than life figureheads that dominate the industry, Brave with its BAT token is a bit of fresh air. They focus on the current issues facing web 2.0 like how mobile users are currently abused by existing browsers(up to 50% of the average user’s mobile data is for ads and trackers) and how big centralized megacorps like Google and Facebook take 73% of all ad dollars and 99% of all growth from publishers and how Brave(along with BAT) solves this problem by providing them with a decentralized alternative that benefits all parties.

  • Basic Attention Token has a legit use case and a working product. With its fast-growing adoption and increased demand, it has the opportunity to create a brand new decentralized ecosystem for digital advertising.

  • The future does look interesting for the Brave browser and BAT with plans on implementing IPFS, releasing its own Brave Virtual Private Network (VPN), and the well-awaited release of Brave’s Software Development Kit (SDK) for the developer community.

Links

BAT Website: https://basicattentiontoken.org/
BAT Blog: https://basicattentiontoken.org/blog/

About Chainbeat

Chainbeat aims to be the first cross-platform analytics platform for applications building the decentralized web 3.0. We believe that web 3.0 will be built across many different blockchain platforms and providing data insights will benefit everyone involved in these platforms with a new way of looking at things.

  • We provide advanced analytics features that help enable cross-platform benchmarking and reporting across blockchain platforms.

  • We provide real-time data insights and alerts that can help you with fast decision making to help grow your business.

  • We currently have integrations with Ethereum, RSK, PoA, and xDAI (in staging). We are working on adding Tron next.

To learn more, visit https://chainbeat.io

If you are working on new and interesting projects in the web 3.0 space and would like it to be covered in this newsletter, email us at {info at chainbeat dot io}

Chainbeat Newsletter: Gods Unchained

12/04/2019

Welcome to the newsletter from the team at Chainbeat! The web 3.0 ecosystem is growing rapidly. Our goal with this newsletter is to provide insights and highlights on new and interesting projects that are building the decentralized future of tomorrow.

We recently launched our integration with RSK. If you are developing an app on RSK, do check out our analytics for RSK.

Chainbeat Links: Chainbeat | Sign up | Newsletter Sign up | Chainbeat Blog

This week’s featured web 3.0 project: Gods Unchained

Gods Unchained is a very popular card trading game that is built on the Ethereum blockchain. Each one of its cards is represented by a non-fungible ERC-721 token. This means that users truly own their cards and can trade them freely on the open market. Gods Unchained is from the team at Immutable, who recently raised $15M in a financing round led by Naspers and Galaxy Digital.

Here is a Venn diagram from the Gods Unchained team on their positioning in today’s gaming landscape.

Here is an intro video to the game:

Cryptokitties gained mainstream popularity with its crypto-collectibles. Now Gods Unchained is taking it one step further with its crypto-collectible-gaming aspect.

Data Insights

A breakdown of the card distribution transactions so far:

A timeline of card creation events called on contract: 0x6ebeaf8e8e946f0716e6533a6f2cefc83f60e8ab

  • The Gods Unchained cards have different levels of rarity: common, epic, legendary and mythic. Mythic cards are extremely rare. One mythic card called “Hyperion” was auctioned by the company for a cool final bid of 146.279 ETH.

  • The most common card purchases are what they call the “Rare Pack Four“ making up to more than 3/4th of all card transactions

  • There are two separate transactions in the card purchase process - The first transaction that makes the purchase and assigns randomness. The second transaction redeems the cards. The above chart is data from the second transaction that depicts the card creation functionality.

  • As you can see from the above data, Oct 29th was the cutoff-date to purchase their exclusive first edition genesis cards. After this date only trading of these cards is possible.

  • Overall 361,469 card creation transactions happened this year. (Data from Chainbeat’s Gods Unchained public dashboard)

Our Thoughts

  • ERC-20s have been the dominant type of token in the Ethereum ecosystem. But non-fungible tokens like ERC-721 are on the rise with the help of games like Gods Unchained that have a real use case for these tokens.

  • Blockchain-based games have a ton of potential. With a decentralized approach, they put the users in control of their game assets and with no centralized authority they cannot be revoked or censored. This is an area we anticipate lots of innovation and growth in the future.

  • It is also fascinating to see community reaction on how God's Unchained gained popularity for taking a stance after rival Hearthstone was involved with issues banning a player for supporting the Hong Kong protests.

  • The parent company Immutable has created something called the “Immutable Platform” that allows third-party developers to jump in and interact with their new digital asset. It will be interesting to see what comes out of this.

Links

Website: https://godsunchained.com/
Immutable Website: https://www.immutable.com/
Medium: https://medium.com/@immutable

About Chainbeat

Chainbeat aims to be the first cross-platform analytics platform for applications building the decentralized web 3.0. We believe that web 3.0 will be built across many different blockchain platforms and providing data insights will benefit everyone involved in these platforms with a new way of looking at things.

  • We provide advanced analytics features that help enable cross-platform benchmarking and reporting across blockchain platforms.

  • We provide real-time data insights and alerts that can help you with fast decision making to help grow your business.

  • We currently have integrations with Ethereum, RSK, PoA, and xDAI (in staging). We are working on adding Tron next.

To learn more, visit https://chainbeat.io

If you are working on new and interesting projects in the web 3.0 space and would like it to be covered in this newsletter, email us at {info at chainbeat dot io}

Chainbeat Newsletter: Tokenlon

11/19/2019

Welcome to the newsletter from the team at Chainbeat! The web 3.0 ecosystem is growing rapidly. Our goal with this newsletter is to provide insights and highlights on new and interesting projects that are building the decentralized future of tomorrow.

Chainbeat Links: Chainbeat | Sign up | Newsletter Sign up | Chainbeat Blog

This week’s featured web 3.0 project: Tokenlon

Tokenlon is a trustless decentralized exchange based on the 0x protocol made by the imToken team. Tokenlon as an independent DEX is fairly new to space. I had not heard about Tokenlon until last week when I watched this video:

Tokenlon Official Website | Trustless token - to - token exchange, based on the 0x protocol

Zap! A decentralized financial product marketed this way with all this energy and momentum was interesting to watch. To understand this style of marketing we have to take a step back and think about the target audience - Chinese crypto users. China(and Asia) has been far ahead in using mobile phones as a primary medium for all activities. The same trend applies to blockchain. For example, here is a screenshot of a slide(blurry) from DevCon5 comparing the usage of imToken(mobile) with Metamask(desktop) across apps.

Screenshot 2019-11-15 at 1.59.48 PM.png

Tokenlon’s decentralized exchange is based on 0x and with a design focused on preventing front-running and trade collisions. Some of the product highlights include:

  • Fast to trade: Off-chain quotations present final prices that can be finalized within one block.

  • Easy to use: As the user sees what they get, using a one-click interface.

  • Cheap: As ERC20 sell orders are realized through gas fewer transactions

  • More secure: As tokens trade wallet-to-wallet through via on-chain atomic swap

A demo video from the Tokenlon team:

Data Insights

Here is the trading volume data for the last 5-days from DexWars.

Here is a Tokenlon dashboard from Chainbeat depicting usage and orders fulfilled from August 1, 2019.

A few data highlights:

  • Before Tokenlon settled on using one platform(0x) they offered two platform options to its users - 0x as a relayer and an option directly via Kyber. Now they do almost 1/3rd of the Kyber volume just on 0x.

  • Around 394 users(out of 19,096 users) have done 10 transactions or more in this time period

  • Top 5 whale users responsible for ~35% of transaction volume. Tokenlon rewards (rich prizes per their marketing material) for high volume traders

  • Nov 11,12 spike is due to Alibaba singles day — marketing-driven once again with special rewards and prizes for trades that day

  • Being an offshoot of imToken definitely helps with the gaining initial user traction

Our Thoughts

  • The biggest credit to Tokenlon is its user-centric web 3.0 design. They understand their user base and had a chance to study the behavioral patterns and categorize the use cases that its users cared about. This is reflected in their onboarding, ease-of-use and functionality offering. An example, how they provide current comparison rates from top exchanges at the moment of decision making to reinforce its users that they are providing their best rate, so it’s not needed to open up other apps to compare rates.

  • Tokenlon was accused of fake trading volumes by one of its competitors. It's often difficult to validate these claims but its something that our whole industry needs to handle by being more transparent in order to improve trust.

  • There are still ways to go for these decentralized exchanges. Just this week, a user lost $120K because an exchange did not realize the precision difference between two currencies. A limit order on OasisDEX did not realize that USDC has only 6 decimals and DAI has 18. Here is the transaction info in case you are interested.

  • The blockchain innovation from Asia has been fascinating. But it sometimes gets lost in translation. There are a lot of things that the rest of the world can learn from Asia like for example developing user-centric mobile DApps.

Links

Website
Tokenlon News
imToken News

About Chainbeat

Chainbeat aims to be the first cross-platform analytics platform for applications building the decentralized web 3.0. We believe that web 3.0 will be built across many different blockchain platforms and providing data insights will benefit everyone involved in these platforms with a new way of looking at things.

  • We provide advanced analytics features that help enable cross-platform benchmarking and reporting across blockchain platforms.

  • We provide real-time data insights and alerts that can help you with fast decision making to help grow your business.

  • We currently have integrations with Ethereum, RSK, PoA, and xDAI (in staging). We are working on adding Tron next.

To learn more, visit https://chainbeat.io

We will be taking a break for Thanksgiving next week. If you are working on new and interesting projects in the web 3.0 space and would like it to be covered in this newsletter, email us at {info at chainbeat dot io}

Chainbeat Newsletter : PoolTogether

11/12/2019

Welcome to the newsletter from the Chainbeat team! The web 3.0 ecosystem is growing rapidly. Our goal with this newsletter is to provide insights and highlights on new and interesting projects that are building the decentralized future of tomorrow. A note to start with - we are not getting paid to write about these projects, we are genuinely interested in them and the future that they are trying to build.


Links: Chainbeat | Sign up | Newsletter Sign up | Chainbeat Blog

This week’s featured web 3.0 project: PoolTogether

PoolTogether is a no-loss, audited savings game powered by blockchain.

It's a novel idea that showcases the potential of Defi with an interesting implementation of a “lottery”. At the heart of it is DAI, when you deposit DAI into the Pool you get tickets in exchange and each ticket gets a chance to win weekly prizes. The deposit to the Pool is like putting your money into a savings account except it's like a rewards-based savings account. When you join the pool the money used to purchase tickets starts earning interest along with all the other money in the pool. The interest is generated through Compound Finance. Every 7 days when a prize is awarded all the interest that has been earned since the last prize is given to the winner. The deposit and the prizes can be withdrawn from the pool anytime.

Here is a video from the PoolTogether team explaining the concept:

Data Insights

Here is a snapshot of a Chainbeat dashboard(public dashboard 1 & 2) for PoolTogether showing activity data until Oct 17 for the smart contract :

A few highlights:

  • The above data is a version2 smart contract of PoolTogether that launched in September

  • The total active users highlight all unique users (addresses) that have interacted with the smart contract in the time frame.

  • Withdrawals and Deposits are two functions in the smart contracts that get activated based on the corresponding activity in the pool from the application. Note, the vertical scale in the charts are different for both functions.

  • The Deposit to Withdrawal ratio could be compared to a similar activity to a traditional savings account, as users tend to keep the money in the bank for longer periods.

Our Thoughts

  • It's a neat use case of Defi providing a better, safer alternative to the existing lottery tickets market($80 billion industry)

  • Spencer Noon does a great take on how Prize Linked Savings (PLS) benefits users' financial health and increase their total savings compared to existing options. Here are the links to the tweetstorm and research on Prize Linked Savings.

  • From a conceptual level, there are no fees for participation, although if you are not holding any DAI then there are the associated transaction costs in exchanging to DAI.

  • It's still early stages with PoolTogether, with a few whales that are dominating the winnings(5 of first 9 winnings won by one user). Increasing the transparency on how the winners are selected is something that the PoolTogether team is actively working on.

Product Links

Website: https://pooltogether.us
Blog: https://medium.com/pooltogether
Learn More:
https://medium.com/@TrustlessState/funding-model-for-pooltogether-and-other-money-lockup-apps-86b928900efa
POV Crypto Podcast: https://povcryptopod.libsyn.com/92-tokenizing-pooltogether-with-leighton-cusack

About Chainbeat

Chainbeat aims to be the first cross-platform analytics platform for applications building the decentralized web 3.0. We believe that web 3.0 will be built across many different blockchain platforms and providing data insights will benefit everyone involved in these platforms with a new way of looking at things.

  • We currently have integrations with Ethereum, RSK, PoA, and xDAI (in staging). We are working on adding Tron next.

  • We provide advanced analytics features that help enable cross-platform benchmarking and reporting across platforms.

  • We provide real-time data insights and alerts that can help you with fast decision making to help grow your business.

To learn more, visit https://chainbeat.io


If you are working on new and interesting projects in the web 3.0 space and would like it to be covered in this newsletter, email us at {info at chainbeat dot io}

Loading more posts…