ALGA - a Mobile Data Token DeFi Application integrated to Ocean Market
Download the ALGA Test-Versions
Proposal Application Details
Country of Residence - United Arab Emirates
Our Round 11 Pledge: 18’500 US$
- Build a Data Token mobile application integrated with Ocean Protocol Market.
Data Whale builds infrastructure surrounding Data Tokens and the Web3 data economy. This includes ALGA, a Data Token mobile application that integrates with the Ocean Protocol Marketplace. Furthermore, Data Whale initiates generic outreach tactics that aim to support the adoption of Data Tokens and Ocean Protocol technology in general.
Round 11 Deliverables
[ ] Major Milestone! To integrate WalletConnect (Ethereum) to the current ALGA UI/UIX
[ ] To finalize the sign-up / profile creation for ALGA with added features, such as “Password Reset”, optimize the Data Flow (Redux) and Validations.
[ ] To continue generic outreach initiatives on Twitter, YouTube and our Blog.
Financed through our reserves [9’829 US$], we continued developing core functionality of ALGA and achieved the following milestones in October. We incurred a total cost of 11’980 US$ for the below.
[X] Developed a detailed Data Token Analysis Screen, with additional sub-categories covering various elements, such as Data Token descriptions and Rug Pull Index Analysis.
[X] Stabilized the App’s backend, fetching pool pricing from Ocean Protocol’s subgraph.
ALGA is not a mock-up product and all of the above impressions have been coded in a private repository. You may download the test-links above.
Upon completion, by end of Q4/21, ALGA intends to generate the following value for the Ocean Market.
- Provide a simple user interface to add/remove liquidity from Data Token liquidity pools launched on Ocean Mainnet.
- Provide a Data Token first wallet, where users can track the value of their Data Token and DT Liquidity Pool Portfolio.
- Provide a Data Token swap interface, where $OCEAN can be used to swap DT.
- Generate positive network value through fees, as well as onboarding data curators.
Provided that Ocean Market traction increases by the time the app is completed, we assume that we will generate an incremental transaction volume of 500’000 $OCEAN through ALGA within a 1-year timeframe.
[X] Continued developing our TREPEL-36 Directory dataset, which hit a new all-time high in 2021.
ALGA Development Lead
Name: Omar Saadoun
- 1 Project Manager
- 1 React Native Frontend Developer
- 1 Web3 Backend Developer
- 1 Graphic / UI Expert
CLICK THE IMAGE ABOVE!
Updated ROI Calculation & Finances
Our project is net positive vs. amount of grants received. Read below to find out more!
Actualized BANG in $OCEAN (Success = 100%, as of 16.10.21):
- TVL in Data Whale Liquidity Pools (excl. Publisher): ~23’500 $OCEAN
- Swap Fees Generated: ~60’000 $OCEAN
- Data Consume Volume: ~24’780 $OCEAN
Estimated BANG Metrics in $OCEAN (Estimation = 50%):
a. Twitter Lifetime-Impressions (~800’000) * Avg. Engagement (3.8%) = 30’400
b. YouTube Lifetime-Impressions (~153’000) * Avg. Engagement (7.9%) = 12’807
c. [[Total Impressions * Estimated Ocean Market Engagement (5%)] * Estimated Network Value ($OCEAN 150)] - Actualized Network Value = 2160 * 150 = 324’052 $OCEAN - 108’100 $OCEAN = 215’952 $OCEAN
1-Year Data Whale Telegram IDO (TVL+Swap Fees+Consume): 30’000 $OCEAN
1-Year Future Network Effect (ALGA + Web-App): 500’000 $OCEAN
108’100 $OCEAN BANG [ACTUAL] * 100% + 745’952 BANG [ESTIMATED] * 50% / (13’000+10’000+10’000+15’000+32’000+22’764+~30’000) = 3.62
Detailed Data Whale Financial Statement
Read our “Reflections on the Round 10 of OceanDAO”. We have re-adjusted our focus and steered the project “back to basics”, in order to finalize the development of ALGA, our Data Token mobile application that is integrated to the Ocean Protocol Marketplace.
Our future roadmap includes the following initiatives.
- Continue expanding ALGA functionalities to other data markets and networks.
- Build a Web3 website that mirrors ALGAs functionalities.
- Have a greater focus on Ocean Market PR, Outreach and Marketing. We will present our plans along with Ocean Market v4, but it includes community driven initiatives like the Ocean Market Impression Mining Program.
- Continue launching Data Tokens that represent useful datasets, in order to encourage more data token consume volume on the Ocean Market.
- Work on PoCs with Ocean community members and potential industry partners to encourage adoption of Ocean Market.
THANK YOU FOR YOUR SUPPORT!
We remain at your disposal for any questions. Contact us on one of our many channels. Please review our proposal and comment below should you have any concerns.