The New KPI Platform for Crypto Projects including Algorand, USDC, Terra, FLOW, NEAR and Orbs.
Last year we launched the Flipside Data Cooperative – which livestreams crypto projects’ on-chain activity for the public to see. Our proprietary process of ingesting 50+ blockchains’ data and transforming it into a universal data model, enables us to accurately compare very different projects’ performances – which is how the Data Co-Op also provides benchmarks for comparing median daily volume, transaction count and unique addresses across projects.
In just 6 months, over 20 projects joined us in our initiative to bring greater transparency to the crypto space.
But many projects wanted to dive deeper into the data to understand what was driving growth. Which is why we’re launching Community Consoles: data dashboards that are customized to answer any question a project has about its ecosystem.
“Our goal at Flipside has always been to enable projects in the crypto space to grow,” said Flipside Crypto CEO, Dave Balter “and like any other business, these projects need data analytics to understand their customers, and to evaluate which actions lead to success. We work with each project to customize their own Community Console to track the right KPIs to grow.”
Terra, Algorand, USDC, NEAR already have their own, with FLOW and Orbs coming up next. Each Community Console is tailored to the specific needs of each project.
Terra wanted to know which stablecoin on its platform was collecting the most fees, and how much LUNA rewards were being distributed as a result.
Source: terra.flipsidecrypto.com
The breakdown reveals that KRT (stablecoin pegged to the South Korean Won) transactions are accumulating the most fees daily – 23.5K USD on average since January 1, 2021. Behind it is UST, which brings in 12.7K USD daily.
Algorand wanted to understand which activities were impacting its token price.
Source: algorand.flipsidecrypto.com
To answer that question we broke down the total ALGO supply in terms of ownership and activity. The Algorand team and community can now see how top holders (larger wallets), exchanges, operators, and the Algorand Foundation itself are moving ALGOs around – and link that to price movements.
Just like for any business, acquiring new users is important, but retaining them is what accelerates profitable growth. Projects that are looking to drive sustainable growth will need to ensure not only that new accounts are being created, but more importantly that these accounts are staying active. The KPI can then be used to assess the effectiveness of incentives and upgrades in retaining users.
A dozen more projects are coming down the pipe and we couldn’t be more excited to define the right recipes with them for successful growth! Stay tuned as we publish the KPIs for every vertical in the space: layer 1 account based platforms; stablecoins; market makers; automated market makers; robo hedge funds; oracles; aggregators; layer 2 aggregators; NFT marketplaces; UTXO chains and utility projects!
Looking to track similar metrics for your project? Reach out to our sales team at hello@flipsidecrypto.com – we’d love to give you a demo of our dashboards!