Since CryptoStats publicly launched, we’ve seen great interest flowing in from the crypto community. Hundreds have joined the CryptoStats Discord, and almost 20 users have built new adapter so contribute to CryptoStats’ growing data library.

These new users have been attracted by the goals of open, trustworthy data and free data metrics. But to truly realize this vision, we’ll need to distribute the power over this system to the community. We’re excited to announce the next steps for CryptoStats, which is the transition of the project into a DAO.

Goals

Metrics that are owned by the community

CryptoStats aims to become the most trustworthy source of data metrics, a brand that everyone from individuals to large companies can rely on.

Moving forward, we need to ensure that the community has control over the methodologies used (specifically, which CryptoStats adapters are verified and added to collections).

With the launch of the CryptoStats DAO, the CryptoStats community will assume control over these decisions. With transparent decision making, any accusations of bias or deception should be alleviated.

Bootstrapping a comprehensive library of metrics

CryptoStats aims to support every major, publicly-determinable metric. In order to do that, significant work must be done to build and maintain the library of adapters.

We’ve seen that token incentives are powerful tools for bootstrapping communities, and CryptoStats will use these same techniques.

But instead of rewarding liquidity or trading, CryptoStats will run a “proof-of-code”, providing governance rights to anyone who builds and verifies an adapter.

Supporting independent metric sites

In addition to building out a library of metrics, CryptoStats also needs a network of independent websites to communicate metric data with the world.

Together, the CryptoStats DAO community will build a “Launchpad” program, which will provide the resources and support for developers to build websites and experiment with new tools for data communication.

DAO Structure

Like many other DAOs, CryptoStats will use a system of delegation: giving a select number of elected community members the ability to execute on-chain transactions on behalf of the community.

Optimistic actors

Voter apathy is an issue many DAOs have run into. CryptoStats specifically will need to take frequent action, as adapters need to be updated often and users rewarded for their contributions.

CryptoStats will use a system of “optimistic governance”, inspired by optimistic rollups. In this system, elected individuals can take actions like approving adapters, the DAO members can vote to reverse any action. Representatives must “stake” some assets before receiving optimistic governance privileges, and can have their stake “slashed” if the community finds that they have acted in bad faith.

What’s next?

We’ll provide more details about the DAO as it gets closer to launch.

We are in the earlier days and we are looking to expand and prepare for the DAO in many different areas such as:

The project is in it’s early days, and there’s many roles we’re looking for assistance with, including:

• Adapter & subgraph development

• Frontend development

• Business development

• Marketing

• Community management

• And many more…

So join the CryptoStats Discord community and have a chat with us!

And if you’re a developer who wants to get involved, take a look into building CryptoStats adapters… 😉

From ever-changing token prices, to total-value locked, to sky-high pool-2 APYs, data metrics are the lifeblood of the crypto industry.

But despite crypto’s mission to remove centralized intermediaries, most data has remained locked in the silos of a handful of companies. We believe crypto should always be striving to distribute power and provide transparency.

We believe trustworthy data is a public good, one that should be built, maintained and ultimately owned by the community that depends on it.

CryptoStats aims to achieve these goals, to become the “Wikipedia for data”, transparently providing metrics to all, allowing anyone to contribute and make updates.

The curation and normalization layer of the data stack

The crypto ecosystem already has great, decentralized indexing protocols like The Graph, as well as many centralized indexers. These protocols provide the crucial infrastructure needed to process the large amounts of data and extract relevant information.

CryptoStats provides an important layer on top of these indexers and other data sources.

CryptoStats pulls data from reliable data sources, processes it, and returns normalized values.

A simple environment for building adapters

In order to be the “Wikipedia for data”, it needs to be super easy for any user to add and update protocols and metrics.

We created a simple editor that enables any user to build and test simple data adapters right in the browser. Users can create adapters, sign them with their Ethereum address, and publish them to be evaluated by the community.

No more Git repositories or pull request are needed.

A growing repository of metrics

CryptoStats is live and already has a rich library of adapters, providing metrics like fee revenue, average APYs, DAO treasuries, and more. These metrics are all available for any developer to include in any website or application.

Check out the full list of adapters at https://cryptostats.community/discover.

There’s two methods that developers can use to query CryptoStats data:

Centralized REST API

The simplest method for most developers is to use our centralized REST API.

For example sending a request to https://api.cryptostats.community/api/v1/fees/oneDayTotalFees/2022-01-10 will query all adapters under the “Fee Revenue” collection and return the total fees accrued on January 10th.

Decentralized SDK

To avoid depending on our API servers, we recommend querying data using the CryptoStats SDK.

This library will read the on-chain list of adapters, fetch their code from IPFS, and execute queries on the local machine.

CryptoStats is already powering all the websites in the “CryptoFees.info family” (OpenOrgs.info, MoneyPrinter.info, etc), as well as other sites like CryptoTesters and even some features in Bloomberg.com.

We’re aiming to make it as easy as possible to integrate CryptoStats data into any project, and grow our family of websites!

If you’re interested in displaying data metrics, let’s talk!

We need your help!

If you believe in our vision of open, community-owned data metrics, then come join us! Whether you’re a builder, a developer, analyst or just passionate about crypto, we’d love to have your help.

Join our Discord community at cryptostats.community/discord

We host community calls every Wednesday at 5pm UTC (6pm CEST/12pm EST), come join the calls to learn more about the next steps for this project.

Links & Resources

• 🕹 | Browse data on the Website → cryptostats.community

• 📖 | Read the Documentation → docs.cryptostats.community

• 🐦 | Follow us on Twitter → twitter.com/CryptoStats_

• 🏛 | Join the Discord group → cryptostats.community/discord