[rugpullindex.com] Improving Data Trading Safety
Fact Sheet
Website: rugpullindex.com
Address: etherscan.io/address/0x005241438cAF3eaCb05bB6543151f7AF894C5B58
Email: tim (at) daubenschuetz (dot) de
Residence of project lead: Germany
Category: build/outreach
Metric: Network revenue
Chat: discord.com/invite/hBQVJY9Me6
Stats: plausible.io/rugpullindex.com
Pitch: "Rug Pull Index helps Ocean Protocol users to invest in data safely."
Growth: Yes!
Achievements: We’ve been busy shipping 
Age: On November 13, 2021 we’ll be 1 year old!
Product
Executive Summary
The founding goal of rugpullindex.com was to reduce the risk of data token investors/stakers getting rugpulled.
As the data economy grows, we expect the number of new risks and their impact to grow also.
We want to continue helping data token stakers, investors, and consumers identify the best data assets within the Web3 data economy.
By continuing to expand our analytics offerings, we believe we can help to promote a healthier ecosystem.
Growth and Outreach
We’re able to show continuous growth over the last 11 months. To see more details, visit our public web analytics at: plausible.io/rugpullindex.com
Unique visitors are growing
Outbound clicks are growing
The number of daily active users is growing (We used the median as we had to account for traffic spikes (e.g., HN front page))
Our SEO is getting better too:
Sources: plausible.io (& evaluation) & Google Search Console
Additionally, we’ve written quite a few blog posts as part of our content marketing strategy:
- October 15: “Focus”
- October 18: “User Profiles & Motivations in the Ocean Ecosystem”
- October 21: “On-chain, The Emperor Wears No Clothes”
- October 23: “Thank You, Next (Problem)!”
- October 31: “Tokens considered harmful”
(Blog posts on timdaub.github.io aren’t funded by the RPI budget. We’ve added them here as they contribute to our overall story.)
Achievements/Deliverables
In a nutshell, we’ve been busy building an online company. Since our last application to the OceanDAO in Round 10, these are our achievements:
- [x] We decreased the total crawl time from 18 minutes to 58 seconds.
- [x] We found that our website visitors weakly/moderately correlate with the Ocean Protocol marketplace visitors.
- [x] We’ve implemented the DAOBot “Project Summary” to display OceanDAO voting data on rugpullindex in the future.
- [x] We open sourced our design system.
- [x] We’ve continued to formalize our goals and vision and our values.
- [x] We’ve on-boarded a UX designer (@welcome Flo!) and we’re in the process of our first UX review.
- [x] We’re starting to open source our content system.
- [x] We’ve (internally) researched possible ways of oraclizing the RPI API.
- [x] DataWhale’s development team (ALGA app) did over 1000 requests to our API.
- [x] We’ve co-discovered a path to monetize our API through the Ocean Marketplace:
- [x] We’ve done many improvements to our open source repositories using our public contributors process and paid out 928 USDC:
- https://github.com/rugpullindex/svg-line-chart/pull/29
- https://github.com/rugpullindex/svg-line-chart/pull/28
- https://github.com/rugpullindex/svg-line-chart/pull/26
- https://github.com/rugpullindex/svg-line-chart/pull/25
- https://github.com/rugpullindex/metrics/pull/3
- https://github.com/rugpullindex/eth-fun/pull/24
- https://github.com/rugpullindex/design-system/pull/7
- https://github.com/rugpullindex/list-metadata/pull/2
Funding Amount
Our current financial situation looks as follows: We have 12,801.76 USDC left in our account and debt of 30,567.12 USDC. Meaning, we’re missing 17,765.36 USDC.
For reference, see our Cash basis accounting statement including liabilities from 2021-11-03.
Unfortunately, we’ve been affected by the recent CREAM.finance hack where we lost 3000 OCEAN.
Our context is that since R10, we’re a voluntarily retroactively-funded OceanDAO project, meaning all the work described in our deliverables has been done and is now due to be paid (similar to an invoice).
Hence, we’re asking for the following amount:
| position | USD |
|---|---|
| Accumulated debt based on accounting statement from 2021-10-28 | 17,765.36 |
| Average historical funding error† | -725.48 |
| TOTAL Debt | 17,039.88 |
† We’re trying to statistically reduce the difference between “USD amount requested” and “USD amount received” caused by the volatility of OCEAN/USD. Check our methodology and this proposal’s appendix.
With this proposal to the oceanDAO, we’d like to request a total of 17,039.88 USD to settle our debt with all project collaborators and to continue our operation in November 2021.
ROI
We’ve been granted more than 100k OCEAN throughout eight rounds where we’ve received a total of 13.8 million “YES” and 2.1 million “NO” votes [source].
Throughout the last year, we’ve continuously improved our ROI calculation:
- In R2 we’ve derived our potential market cap through comparison (e.g. S&P500 & DeFi Pulse Index).
- In R6, we created a model from our initial calculations.
- Last round, we reformed our ROI calculation to rely more on data than speculation. We set up an imaginary competing product called “SalesIndex” and benchmarked us against it. We achieved an ROI of 6.14 times.
Along with round 11’s proposal, we’ve decided to highlight another important aspect of our product’s value creation chain: The number of visitors that we sent to the Ocean Protocol Marketplace.
In our most recent blog post, titled “Heureka!” we did a deep dive into both websites and concluded that RPI’s and OP’s website visitors correlate weakly/moderately by +0.4.
It’s not the usual “ROI > 1” calculation but an important step towards a long-term evaluation of our service and fully rationalizing our ROI calculations.
In future rounds, we’re planning to correlate visitor numbers with on-chain transactions to close the circle.
But for today’s proposal, R10’s ROI calculation and this round’s correlation exercise ought to be meaningful enough to receive further funding.
Team
- Tim Daubenschuetz (dev) Github Website
- Scott Milat (biz dev) Website
- Vaibhav Chanana (dev) Github
- Parth Dode (dev) Github
- Florian Model (ux design) Website
Please Vote For Us Because…
- we’ve been shipping and iterating from day zero.
- we deliver reliable market insights 24/7 and have made data trading safer since November 2020!
- we give you transparent insights into our proceedings by writing blog posts, by shipping regularly, and opening up our accounting.
- we’re actively engaging in Ocean Protocol Core development.
- with your vote, you’re helping us make a living and bootstrap a real crypto startup
Appendix
We’re trying to statistically reduce the difference between “USD amount requested” and “USD amount received” (caused by the volatility of OCEAN/USD). Check our methodology to learn more.
| Round | USD requested | OCEAN received | receive date | USD swapped | swap date | USD delta | USD error |
|---|---|---|---|---|---|---|---|
| R6 | 9360 | 13000 | 2021-06-08 | 7546.43 | 2021-06-09 | -1813.57 | -1813.57 |
| R7 | 10080 | 22400 | 2021-07-21 | 8390.49 | 2021-07-22 | -1689.51 | -1751.54 |
| R8 | 10276.61 | 19391.00 | 2021-08-16 | 15742.78 | 2021-08-17 | 5466.17 | 654.36 |
| R10 | 16536.65 | 21933 | 2021-10-15 | 17475.51 | 2021-10-18 | 938.86 | 725.48 |
