Rugpullindex.com Proposal R6

rugpullindex.com Proposal R6

Fact Sheet

  • Name & Website: https://rugpullindex.com
  • Address: 0x005241438cAF3eaCb05bB6543151f7AF894C5B58
  • Country: Germany
  • Email: tim (at) daubenschuetz (dot) de
  • Elevator pitch: S&P500 for data
  • Categories:
  • Funding Amount: 13000 OCEAN (we need roughly 7k EUR)
  • Remaining Grant Treasury Balance:
    • 5828.19 OCEAN
    • 0.43 ETH
    • 3.573,81 USDC
  • Previous Grant receiver?: yes

Executive Summary

rugpullindex.com helps data scientists and investors to make better decisions when buying data online. Our thesis is that markets are proxies for assets’ qualities.

On-chain markets present a huge untapped source of market insight ready to be harvested. By measuring and highlighting the qualities of OCEAN’s data sets, we improve the market’s overall health and performance.

Our long-term goal is to build an ERC-20 token that allows investors to gain diversified exposure to OCEAN’s best data sets.

Here’s our proposal for OceanDAO:

Video proposal (click to YouTube video)

Our Product

Website: https://rugpullindex.com

Track Record

Website Analytics (as of 2021-06-01):

Jan 2021 Feb 2021 Mar 2021 Apr 2021 May 2021
Unique visitors 254 538 468 462 841
Pageviews 302 737 764 758 1300
Outbound clicks (abs & percentage) 0 0 0 17 (6.9%) 274 (17.7%)
Duration 30s 31s 1m 3s 1m 17s 1m 10s
Total time spent by all users 2.5h 6.1h 13.3h 16.2h 25,27h

Notes:

  • Outbound clicks are tracked since 2021-04-26.
  • Our website analytics are public.

Outreach:

Finally, our content marketing strategy that involves outreach via blogging is starting to carry fruits. In May, we’ve logged 456 unique visitors to RPI’s blog.

Blogging about crypto content over on Tim’s personal blog is accelerating this effect. Over the last 12 months, it had a total of 66k unique visitors from blogging about Ethereum related content.

Our Plan For June

  • Market API and help our customers to integrate it
  • Continue user research to improve the website conversion
  • Improve scalability of on-chain crawler to improve data quality, quantity & currentness
  • Start implementing insights of rollup research into prototype transaction aggregator smart contract

We want to continue working towards launching an ERC-20 token to allow investors to gain diversified exposure to the best data assets on Ocean Protocol.

Open Financials (& ROI)

  • We’ve done a detailed ROI calculation in Round 2 that continues to apply.
  • To improve financial transparency we’re publishing a cash-basis accounting statement from 2021-05-25: document (pdf)
  • For an extended discussion about ROI, please see the comments of this thread.

Team

Tim Daubenschütz

Background: My “About” page and CV

Scott Milat

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 positively.
  • you’re helping me to make a living and bootstrap a real crypto startup <3
4 Likes

Hey @TimDaub,

this is missing a ROI with bang and buck - your round two proposal does not include that and probably you got some funds already which should lead to an increased buck?
Also there is no funding amount in the proposal as requested in the updated proposal template here: https://github.com/oceanprotocol/oceandao/wiki/Grant-Proposal-Template

Would it be possible to update those? Just to get more insight into what was achieved since round 2 in terms of bang and buck as well as to understand how much of the pie is already being asked for in this round via your amount of $OCEAN requested.

Thanks and best of luck in this round,
Robin

1 Like

Upfront note: The final and correct value of how many OCEANs we’re requesting, please refer to the original post that we’ll keep up to date. Thank you.

Hey,

thanks for the feedback.
Regarding my the ROI calculation, it is indeed captured in my Round 2 proposal. Please refer to the “Return on Investment” section. Just to summarize it here quickly: I’ve looked at the S&P500 and the DeFi Pulse Index and I observed two metrics:

  • The USD value they capture compared to the market they track: S&P500 3% and DeFi Pulse index 0.03%
  • I then said, considering that the overall data market cap is $78M: what is the value that RPI can capture given a value that is within 0.03% and 3%? I concluded that RPI’s bang can anywhere between $183 and $2.34M.

I’m aware of the “good bang” metrics and already in R2, I’ve made a distinction between “Total Value Locked” and “Network Value”. For me, “network value” made more sense as it allows me compare myself to a traditional index like the S&P500 and to DPI. TVL is applicable in a similar manner but IMO less effective considering that crypto is an emerging market.

Now regarding buck: as you can see from my cash-basis-accounting document, I’ve received a total of 39045 OCEAN between R2 and R5. To find the real value in EUR, we have to look into the EUR expenses from either USDC or OCEAN trades in the cash-basis-accounting document (6362€+9472€+8940€ = 24774€ spent)

For R6, we’re requesting 7000€ (as of yesterday roughly 12k OCEAN). You get that number by finding my average salary over the last 4 rounds 6000€ + 1000€ for biz dev + 4€ server costs.

So the total buck including R6 is: 31774€

Given the formula from the wiki, I calculate ROI as roi = (bang/buck) * chance.
Now, I’m not competent enough to estimate my chances of success and I’d find it dishonest to just come up with a value intuitively. Hence I’ve created this Desmos model that may help us optimize the problem.

A few insights, from pessimism to optimism:

Bang: 30k€
Buck: 31k€
ROI: 1
The chance of success has to be 100%

Bang: 100k€
Buck: 31k€
ROI: 1
The chance of success has to be roughly 30%

Bang: 1M€
Buck: 31k€
ROI: 1
The chance of success has to be roughly 2%

I hope this sheds some insights. Now regarding the Bang/Buck formula, I’m not sure if it is mandatory. When I first presented my R2 calculation in a town hall in Jan/Feb, everyone was in agreement that what’s important is the path towards calculation, not the eventual number.

Since January/February, from a ROI formula perspective, IMO two things have changed:

  • I’ve continuously been able to ship updates to the website which means my chance of success number should have gone up
  • I’ve raised more money, hence the buck number has gone up, but only in a linear manner.
  • Since January, the crypto market has also matured more.

I’d hence like to conclude that for a buck number within the linear range of how much money we can ask for funding here, the path towards a ROI > 1 has steepened, making it more likely that RPI is adding value to the Ocean Ecosystem.

The methodology of how I’m evaluating the business hasn’t changed and that’s why I’ve said in my original proposal too: R2 calculation of ROI continues to apply (conceptually).

Hope this was helpful. Happy to answer further questions.

3 Likes

To further accommodate the projects building in the OceanDAO community we have increased the Total Round Funding Available to 272.000 OCEAN for Round 6. Max Individual Proposal Limit = 27.200 OCEAN.

See more: https://github.com/oceanprotocol/oceandao/wiki

1 Like

Great work Tim, I love the constant stream of improvements and updates and your transparency is an example for the community. Thanks for creating a great product and improvement to the ecosystem.

1 Like