The following proposal aims to continue Data Whale’s efforts towards encouraging adoption of the Ocean Marketplace by leveraging on three main pillars: community tools, trading tools and business development.
Data Whale’s efforts towards encouraging adoption of a new data economy can be segregated into three main pillars.
Community Tools, including the development of the alga. application (Phase 1), which allows its users to browse data-tokens on the Ocean Marketplace, study their price-history and track them in their data-token wallet.
Trading Tools, including the “Phase 2” development of the alga. application, which will allow data-token transactions, including buying, selling and trading through the mobile application. Furthermore, the application aims to provide analysis tools for token holders of TREPEL-36 and WONPEL-82, as well as integrate with other tools such as rugpullindex.com.
Business Development, aiming to tokenize valuable datasets on the Ocean Marketplace through leveraging a network of startup and enterprise partners.
Our main objectives include:
- Build & develop a mobile application, fostering adoption / usability.
- Encourage outreach of the Ocean Marketplace through our other activities.
What have we achieved so far?
The following milestones have been achieved by Data Whale thanks to the support of the community, alga. dev team and a group of talented freelancers, all of which have contributed to a new data economy!
Fueling the data economy, by having spent over 10’000 US$ off-chain to freelancers, coders and developers that have supported the Data Whale eco-system, which gave jobs to people in some of the poorest parts of the world. Have a look how we tweeted about it here.
Attended 2 exhibitions and held over 15 introductory meetings and calls, introducing Ocean Protocol and its technology to potential data partners. This includes a conference call between representatives of a high-level government agency and Ocean Protocol’s leadership to potentially tokenize government data in the future.
What are the current challenges?
Currently, we are facing both internal and external challenges, which we aim to solve with your support.
We are on the lookout for an experienced developer with a proven track record of developing and integrating wallets on Ethereum.
Since a wallet will deal with user funds, we want to ensure that we are allocating our grant towards a highly referred remote developer OR a developer on-site in Dubai.
We believe the main challenge in the current cryptocurrency environment are that there are many new retail investors that have started investing without a proper understanding of blockchain use-cases. The hype of Shiba Inu and other Meme-Coins proved that the market was over-saturated with investors looking for “quick” returns.
Therefore, we aim to make data-tokens relatable for new investors, mainly by highlighting their return potential in graphics as above, giving people the financial incentive to study the data finance (DaFi) and data token revolution. The Ocean Protocol eco-system is incredibly complex and difficult to understand and we hope our initiatives, such as data token giveaways or token infographics will onboard more Ocean Navy recruits.
Why should you vote for this Data Whale proposal?
To counter the above challenges. We will continue develop and #buidl with the following activations in mind.
Begin the alga. Phase 2 development with an experienced Ethereum developer, even if this increases the development cost significantly (If YOU are that person, please contact us on email@example.com)
Continue building our business, as highlighted in the OceanDAO Round 3 proposal that can be found here.
Continue our business development efforts and launch more IDOs on the Ocean Marketplace. Currently, we are in the process of finalizing the deal to tokenize the following datasets, stay tuned!
3GB dataset of images, used by AI algorithms to create digital fashion NFTs of a New York based streetwear brand.
Google-verified medical dataset of 10’000+ x-rays of tuberculosis patients, sourced for an algorithm that identifies the illness via an application without doctor intervention.
Historic football data, used for algorithms to predict player movement.
Aggregated delivery data of an online retailer, distributing food and dry products to both businesses and private households.
Historic geo-data gathered on the farms of one of the largest FMCG exporters from Andalusia, Spain.
Continue developing our main dataset, TREPEL-36, and re-brand it towards providing insights to the potential of current data pools, as well as provide estimate valuations and price predictions (nfa.) on the basis of secondary research.
Updated ROI Calculation
Below is our Year-To-Date (YTD) operating statement in US$. As we have not sold our allocated OCEAN, we are displaying the outcome in US$. The OCEAN received have been staked on the Bancor Liquidity Pool, driving value to the overall OCEAN eco-system.
Total ROI Calculation can be updated as follows.
(BANG (R1/2 + R3 + R6) / BUCK (R1 + R2+ R3 + R6)) * R6 Chance of Success = ROI
(540’000+75’000+75’000) / (13’000+10’000+10’000+15’000) * 80% = 11.5
The herein received pledge will provide us with confidence to acquire the right talent to further develop alga.'s trading functionality, as well as the analysis tools outlined in R3. We will also use this pledge to further encourage adoption through various marketing and business development activations as outlined within this proposal. Also, the chance of success has improved compared to previous proposals, since we are now ready to present a working product (alga.).
The team credentials can be referred to in the previous DAO grants, whereas we will announce changes on our official channels. Further, as outlined above, we use a vast network of freelancers in addition to collaborating with existing participants on the Ocean Marketplace.
As we hope you noticed, we are fighting on many fronts. And yes, it can get overwhelming at times. We believe in the data economy and its potential and we pledge for additional grants to continue innovating with the intention in mind for the community. All of our spends have been off-chain and we have dedicated the majority of past OCEAN pledges for the benefit of the eco-system as liquidity to the Bancor Pool.
We are looking for YOUR support!
Thank you for your consideration and we remain at your disposal for any questions.