DATA WHALE Ocean Market Infrastructure Proposal & V4 Data Offering [R15]

OceanDAO Round 15
#1

Data Whale’s R15 Ocean Market Infrastructure & v4 Data Offering

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Proposal Application Details

:heavy_dollar_sign: Ethereum Address - realdatawhale.eth

:bird: Twitter Account

:speech_balloon: Telegram

:computer: Data Whale’s Website

:writing_hand: Data Whale’s Blog

:tv: Web3 Data Economy YouTube Channel

:email: info@datawhale.ai

:united_arab_emirates: Country of Residence - United Arab Emirates

:blue_heart: Our Round 15 Pledge: US$ 9,865

:paperclip: Grant Reason

  • Establish a preliminary analysis of Ocean Market v4 and estimate the required changes for the ALGA Datatoken wallet.
  • Launch our first IDO on the Ocean Market v4.
  • Cover incurred expenses that were above grants (3415 US$).
  • Scale Ocean Market Adoption with more marketing, outreach and tools.

Proposal Summary

In 2022, our focus is to support Ocean Protocol’s objectives to encourage the “Year of Adoption”. We have RELEASED the ALGA Datatoken wallet on the Apple App Store and Google Playstore. We have further refined our Website with updated terms such as DataFi and Data NFTs, as well as Ocean Market Tutorials and the OCEAN MEME Library. Visit our new WEBSITE. Later in 2022, we will launch Datatoken.market and DataNFT.market.

Round 15 Deliverables

ALGA
[ ] Establish a preliminary analysis of Ocean Market v4 to estimate required changes for the ALGA wallet.

DATAWHALE.AI: Ocean Market Tutorials & MORE
[ ] To continue refining the Data Whale Website to become a one-stop-solution for all tools that the Ocean Protocol ecosystem offers.

Launch v4 IDO:
[ ] To launch the Data Whale Telegram Crypto Dataset on Ocean Market V4 and establish a legal framework under our registered entity Data Whale Ltd. for Initial Data Offerings that can be reviewed by other publishers.

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Ocean Market Outreach:
[ ] To continue generic outreach initiatives on Twitter, YouTube and our Blog.

Data Whale Roadmap

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In 2022, we will scale Ocean Market infrastructure and add more tools that make navigating the Web3 Data Economy as intuitive as possible.

Our Ocean Protocol Data Market Tools:

DATAWHALE.AI - a single source of information, making the Web3 Data Economy understandable for every target audience.

  • Continue collaborating with the community to scale Ocean Outreach (OCEAN BOUNTIES and OCEAN AIRDROPS)
  • Create partnerships with other projects to provide a resourceful overview for the Web3 Data Economy.

ALGA DATATOKEN WALLET - the first mobile Datatoken wallet to release 02/2022.

  • Introduce Ocean Market V4 compatibility
  • Introduce compatibility with Polygon and Binance Smart Chain
  • Introduce Data NFT section (once launched)

DATATOKEN.MARKET - a Web3 Website that offers an intuitive Ocean Data Market interface, where DataFi participants can research, navigate, stake and swap on the Top 50 Datatoken liquidity pools.

  • Cost-effectively replicate ALGA’s backend to Web3 website by mid-2022.

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DATANFT.MARKET - we blocked the domain DataNFT.market and aim to replicate some of ALGA’s existing backend to create a Data NFT Marketplace with relevant information for each asset, including dataset consume volume, transaction volume, number of Datatoken holders and more.

Our Team

Data Whale Design Lead
Name: Luana Aires
Twitter: https://twitter.com/luanaairs
Billing: HOURS WORKED

ALGA Development Team
Name: Omar Saadoun, Juan Arrillaga, Axel Diaz & Raul (inMind Uruguay)

Billing: DEV HOURS WORKED (EXCL. TEAM LEAD)

Data Whale Ltd.
Name: Moritz Frings
Role: Project Lead / Director

OceanDAO Criteria

Criterion 1: Ocean Value-Add

  • Usage: All our efforts and tools aim to make the engagement with the Ocean Market more intuitive.
  • Viability: We have released the ALGA Datatoken Wallet successfully
  • Community Active-ness: We are an integral part of the Ocean community and active across several channels. We have featured many articles and built an outreach program.
  • Adding Value: Our primary objective is to add value to the general Ocean eco-system. Our content appeals to three audiences: data buyers, data publishers and data investors, both Web3 proficient and non-proficient.

Criterion 2: Ocean Protocol’s Mission & Values

  • Evidently, we are aligned with Ocean Protocol’s Mission & Vision to unlock the value of data across all levels of society. Kindly visit our Blog for a deeper understanding of our views.

Criterion 3: Ocean Protocol’s Mission & Values

  • We meet the minimum requirements of $OCEAN funds in our wallet linked above.

Data Whale Financials

Data Whale 2022 Targets
Actualized Network Revenue 2021: ~120’000 OCEAN
Estimated Network Revenue 2021: ~250’000 OCEAN
Total (est.) Network Revenue 2021: 370’000 OCEAN

Forecasted Actual Network Revenue 2022: ~140’000 OCEAN
Forecasted Estimated Network Revenue 2022: ~400’000 OCEAN
Total (est.) Network Revenue 2022: 540’000 OCEAN

For clarifications on above, please contact us

Detailed Financial Statement

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Conclusion

2022 will be a great year for the Ocean Protocol ecosystem. We thank you for your support.

Sincerely,

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#2

Hey @realdatawhale,

could you clarify these claims?
Does this mean that you cashed out 370.000 $OCEAN from sales on the marketplace in 2021 and are planning to cash our 540.000 $OCEAN in 2022?

Thanks in advance!

#3

Hi Robin,

those numbers refer to how much value we generated for the Ocean ecosystem in 2021 and how much value we are targeting in 2022.

Here’s the breakdown of ACTUAL value we generated in 2021.

  1. TVL in Data Whale Liquidity Pools (excl. Publisher Liquidity): ~35’000 $OCEAN
  2. Swap Fees Generated: ~60’000 $OCEAN
  3. Data Consume Volume: ~25’000 $OCEAN

Total actualized network “revenue” : ~120’000 OCEAN - swap fees and TVL are not for Data Whale, but Ocean Market participants in general

Here’s the breakdown of ESTIMATED value we generated in 2021.

  1. Twitter Engagement 2021 (Avg. Engagement 3.8%) : 1.2 Million * 3.8% = 45’600
  2. YouTube Engagement 2021 (Avg. Engagement 6.8%) : 350K * 6.8% = 23’800

We assume that 2.5% of our engaged audience added an average of 150 OCEAN to the Marketplace (rough estimate)

Total estimated network “revenue” : ~250’000 OCEAN

In 2022, we would like to generate at least 540’000 OCEAN, mainly through ALGA transactions and a new IDO on the Ocean Market V4.

1 Like
#4

Hi @realdatawhale,

Your dataset has 0.1% swap fee and a TVL of ~45’000 $OCEAN - that would mean that there would have to be 75’000’000 $OCEAN swapped over the dataset to get to the 75’000 $OCEAN generated in swap fees. I highly doubt that this has happened.

Ok, this is a very lose definition of revenue from my point of view.

This is all not meant as an offence or something, I just want to understand the argumentation here to learn from it.

But ok, there is no real reason anymore to make these kind of calculations. I am sure that Data Farming will have clear rules and make these calculations obsolete.

#5

Thank you for your R15 submission @realdatawhale, it is now registered.

#6

Hi Robin,

I received the dataset that lists all liquidity transactions (in&out) for some of the top Datatoken LPs (including QUICRA-0) - provided by the great Allard from Bridging Tech :slight_smile: I will post it here once I receive his permission, otherwise you can contact him on Twitter !

According to his on-chain data, we generated the following swap fees [I think data is up until May 2021 or so].

TREPEL-36= 15’250 OCEAN [~15’250’000 OCEAN total liquidity in & out (good old days!) with 0.1% swap fee]

STUTUR-23= 17’250 OCEAN [~575’000 OCEAN total liquidity in & out with 3% swap fee]

MARRAY-61= 17’000 OCEAN [1’700’000 OCEAN total liquidity in & out with 1% swap fee]

CLEEEL-83= 5’400 OCEAN [180’000 OCEAN total liquidity in & out with 3% swap fee]

TOTAL SWAP FEES = 54’900 I’m estimating that I generated about 5K more up until today, but of course that’s just an estimate

By the way QUICRA-0 swap fees were about 90K, well done!

Engagement
I think our definition is rather reserved. Our average engagement is 5% across our platforms. We are saying that 2.5% of those 5% are contributing an average of 150 OCEAN each in some form (either by holding it, swapping or staking). I don’t think this is too far fetched, given that I have countless messages and Emails of people providing liquidity to the Marketplace for example in the several thousands.

1 Like
#7

Amazing progress report, you have our continued support. Thanks for all the work that you do for the Ocean community.

Good luck this round

mPowered

1 Like
#8

[Deliverables Checklist]

[X] ALGA
We’ve completed the following development tasks for our mobile application:

  1. Security audit & fixes with renowned security expert (https://twitter.com/DatatokenApp/status/1506547976705122309?s=20&t=fOY2FHt36OHdF7hK3HF2lg)
  2. Fixed a Watchlist bug that users reported after new security features.
  3. Backend fixes related to user authentication.
  4. Established v4 ALGA Review with an estimate development update of up to 150 development hours. Following changes have been proposed: UI changes to the swap screen of the application (making Datatoken swaps and staking more intuitive), better display of Datatokens including dataset names and a “Data NFT” tab.

[X] Datawhale.ai

  1. We added several descriptions to our “learn” section, covering DataNFTs and DataFi.
  2. We added several blogposts regarding Ocean Market V4 and DataFi

[X] V4 IDO

  1. We have established a legal analysis for Initial Data Offerings with an experienced Crypto Lawyer. The Terms & Conditions can be viewed here
  2. We are ready to launch our IDO upon launch of Ocean Market v4.

[X] Outreach

  1. We have continued our Ocean Protocol Outreach initiatives, including playing a key role in organizing the Ocean Protocol x Roland Berger Meetup in Dubai.

We want to mark the above proposal as complete. Kindly contact us for any questions or concerns.

1 Like
#9

Thank you for your update @realdatawhale, your proposal is now marked as completed. Cheers!

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