[rugpullindex.com] Improving Data Trading Safety
Email: tim (at) daubenschuetz (dot) de
Residence: Germany, Bahrain and other countires
Metric: Network revenue
rugpullindex.com is crypto’s native regulator. We strive to improve the safety and information asymmetry for data consumers and investors when buying data tokens.
Our thesis is that markets are proxies for assets’ qualities and that those markets can be regulated through deliberate incentive design.
We believe that web3 can become a safe environment for everyone. In a world of financialization and rationality, everyone can prosper through the continuously created efficiencies of open financial markets and transparent algorithmic insights.
Our current mission is to improve the overall safety of all Ocean data token users such that anyone can trade data without running the risk of getting the rug pulled.
Progress Since Round 8
Between R8 and today, we had a total of 6400 unique visitors and a total of 8900 impressions. One highlight was that on September 27, 2021, we had a blog post titled “Is Competition For Losers?” reach Hacker News #4.
Here’s raw data from our web analytics:
|May 2021||June 2021||July 2021||Aug 1 - Oct 5|
|Outbound clicks (abs & percentage)||274 (17.7%)||365 (25.1%)||375 (7%)||908 (9.4%)|
Additionally, we’ve written four blog posts as part of our content marketing strategy:
- On Building The Infamous “Version 2”
- We’re NOT A Startup
- Is Competition For Losers?
- Loadtests on Erigon
Since our last application to the OceanDAO in Round 8, these are our achievements:
- [x] We’ve scaled our Ethereum full node to handle 1k requests/s
- [x] We’ve moved all reliance on Aquarius to our Ethereum node
- [x] We’ve separated most crawler logic from the main source code and created a private NPM package
- [x] We’ve added a new currency pair to our website: OCEAN/USD
- [x] We’ve added two new pages on staking to improve our SEO
- [x] We’ve mitigated the Ethereum Network split on August 27, 2021
- [x] We’re now showing 40 data sets instead of 25
- [x] We’ve on-boarded and paid more than 520 USDC to technical contributors
- [x] We’re in the process of scaling RPI’s workforce through GitHub/Discord and by establishing scalable processes
- [x] Internally:
- [x] We’ve been busy refining RPI’s vision and mission
- [x] We’ve been trying to diversify our incomes streams by participating in GR11 and by reaching out to clients
- [x] We’ve been in touch with German lawyers regarding the incorporation
Rugpullindex’ funding requests are calculated based on a public methodology. Exchange rates on 2021-10-05 from coingecko:
We’ve publicly stated that we prefer retroactive funding. Hence, please consider this proposal an invoice and the above-enumerated deliverables as work that has been done and now needs to be paid.
As a foundation to calculate the funding amount, we’ve published our cash basis accounting statement including liabilities. Through operation and scaling in September, according to our latest accounting statement, we’ve indebted the project by:
|Average funding error†||-885.72|
† We’re trying to statistically reduce the difference between EUR amount requested and EUR amount received (caused by the volatility of OCEAN/EUR). Check our methodology to learn more.
* We get 11562.53 USD by calculating against the above-mentioned exchange rate of OCEAN/USD.
With this proposal to the oceanDAO, we’d now like to request a total of 16536.65 USD to settle our debt with all project collaborators and to continue our operation in October 2021.
Though it’s arguably not the only type of interaction, we wanted to test a hypothesis, which is if data sets listed on our website do better than those that are not listed there.
Between April 26, 2021, and October 4, 2021, we collected market data on the top 10 assets on Rug Pull Index and compared them with each other. Additionally, since we wanted to evaluate RPI’s direct impact on the Ocean data token market, we had to develop an additional but independent way of listing, ordering, and tallying a separate set of 10 data tokens.
When looking for alternative approaches to listing data tokens, we excluded listing data sets based on their market capitalization, mainly as it’s already used on the front page of the Ocean Marketplace (“Highest Liquidity”).
Instead, we understood that we had to compare our results to a non-existent but yet sensical approach to investing. That would allow us to measure our impact starting “from zero.”
For that, we’ve created a fictional and independent index product called the “SalesIndex” that lists 10 data sets based on the total amount of Ocean data token consuming volume. You can find its exact data here.
To evaluate the impact that clicks and views had on the rugpullindex.com website, by comparing the market caps over a period, we can measure the value of rugpullindex.com’s impressions and clicks to the respective data set.
SalesIndex’s top ten data set’s market capitalization grew by 716.98 EUR from April 26, 2021, to October 4, 2021. In contrast, Rug Pull Index’s data sets grew by 403,621.70 EUR, setting its total impact in “Network Revenue” since April 26, 2021, to 402,904.72 EUR (bang).
- buck (assuming to win R10): 65569.46 EUR
- bang: 402,904.72 EUR
- chance of success: 100%
ROI = bang / buck * (% chance of success)or
402,904.72 EUR / 65569.46 = 6.14
- Statement: RPI is achieving a positive a positive return on investment (6.14 > 1).
- Tim Daubenschuetz (dev) Github Blog
- Scott Milat (biz dev) Blog
- Vaibhav Chanana (dev) Github
- Parth Dode (dev) Github
Please Vote For Us Because…
- rugpullindex.com delivers reliable market insights 24/7.
- We give you transparent insights into our proceedings by writing blog posts, by shipping regularly, and opening up our accounting.
- Our work informs the Ocean Core team’s product development cycle.
- You’re helping us to make a living and bootstrap a real crypto startup <3
We’re trying to statistically reduce the difference between EUR amount requested and EUR amount received (caused by the volatility of OCEAN/EUR). Check our methodology to learn more
|Round||EUR value||OCEAN value requested||USD value swapped||swap date||EUR/USD at swap date||EUR value swapped||difference in EUR||error in EUR|