gm, builders! 👋 Here’s your roundup of this week’s onchain insights.

Highlights:

• New Contract Events Pipeline

• Improved Ask Formo

• Expanded Filter Operators and Breakdowns

• Demo Project for New Workspaces

• Reading List

New Contract Events Pipeline

The contract events pipeline received a major upgrade this week. Setup is faster, you have more granular control over which contracts feed your analytics, and onchain activity is now attributable to the builder behind each transaction.

• Recommended contracts. The Contracts page now surfaces contracts your project already interacts with based on transaction events, but hasn’t tracked yet. Add recommended contracts to get automatic transaction decoding and contract events.

• Contract events ingestion toggle. Each contract now has an Ingest toggle. It defaults as disabled to keep the contract’s ABI available for transaction decoding while excluding it from event ingestion. Enable it to ingest its smart contract events.

• Builder code attribution. Contract events now automatically extract the builder code from the source transaction, so you can attribute activity to the builder that made it.

• Performance and reliability improvements. Pipelines spin up instantly. Automatic retries, dead-letter queues, and at-least-once delivery guarantees at any scale.

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Improved Ask Formo

Ask Formo is now smarter, faster, and more reliable. The chat is easier to read at a glance, you can keep typing while it’s still answering, and answers come back more quickly.

Behind the scenes, the Formo Agent is now powered by the latest frontier model. The result is more accurate answers, sharper handling of complex questions, and cleaner charts.

Expanded Filter Operators and Breakdowns

Filters across Formo now support a richer set of operators.

• String filters on Overview, Activity, Funnels (including segment filters on Boards), breakdown tabs (Sources, Pages, Events, Locations, Wallets, Chains) now accept contains, starts with, and ends with alongside the existing equals operators.

• Numeric filters on retention gain notEquals and >= / <= aliases, and Overview metric filters pick up >= and <= on the generic dimension chain.

• The Activity chart also gains a breakdown dropdown, so you can split the events time-series by channel, device, location, referrer, UTM, builder code, and more, using the same breakdown taxonomy as Overview.

• The same operators and breakdowns are also available via the Formo API.

Demo Project for New Workspaces

New workspaces without an active project now see a fully populated demo project with realistic mock data across all of the analytics surfaces.

Explore the product end-to-end before you install Formo, including Overview, Activity, Funnels, Retention, Insights, Wallet Intelligence, Ask Formo, boards, and segments.

Learn more

Reading List

• DeFi Doesn’t Just Need Better Code - It Needs a Better Control Plane by Ethereal Ventures and Praneeth Srikanti. Link

• The Opportunities for Innovators We’re Seeing This Year by Ethereal Ventures. Link

• Distribution Advantage: how to set up GTM for your crypto product (without bs) by Mac Budkowski. Link Link

• Token-First Is Dead. Now What? by Leopold Biget. Link

• Welcome to the ‘Show Me’ era by Paul Cafiero. Link

• Neobanks in 2026: Industry report by Jack Haldorsson. Link

• What mom hasn’t told you about building in consumer crypto by Mac Budkowski. Link

• DAPPCON 2025: Alan Scott - Product-market-fit in onchain Privacy by Dappcon Berlin. Link

gm, builders! 👋 Here’s your roundup of this week’s onchain insights.

Highlights:

• User Attribution Filters

• Retention Cohorts by Label

• Historical Label Backfills

• Profiles Batch API

• Reading List

User Attribution Filters

The Users page now has an attribution mode toggle on the Wallets, Clusters, and Visitors tables, so you can switch between Any, First touch, and Last touch to see how a wallet looks under each attribution model without leaving the page.

This makes it easy to compare a campaign’s first-touch reach against the wallets that actually converted under last-touch, and to spot the difference between users your channels introduced versus the ones they closed.

Retention Cohorts by Label

Retention cohorts now support filtering by user labels, so you can measure retention for the segments that actually matter to you.

You can send a custom label like open_interest Formo, restrict a cohort to wallets that carry that label (e.g. open_interest > 1000) and watch how they retain over time, instead of being limited to event-based cohorts.

Carry-forward is built into the retention logic, so a label written once (or sporadically) is correctly applied to every subsequent week until the next event for that key.

Historical Label Backfills

The Create Label API now accepts an optional timestamp on each label write, so you can record labels at a point in the past instead of always at server time:

• Current time: omit timestamp and the label is recorded at the moment you send it. This is the right default for live signals you’re sending as users earn them.

• Historical data: pass an ISO-8601 timestamp to record the label at a specific point in the past. This lets you backfill historical readings (for example, last quarter’s open_interest snapshot) so retention cohorts can evaluate each label value at the correct point in time.

This pairs especially well with cohorts based on numeric thresholds, where the value you cared about on a user’s signup day may not be the value they carry today.

Profiles Batch API

The Profiles API now has batch endpoints for user labels and properties, so you can upsert up to 100 wallets in a single request instead of one wallet per call. Perfect for nightly data syncs and cron jobs.

Both endpoints return partial-success results, so a single bad row doesn’t fail the whole batch.

Learn more

Reading List

• 2026 Distribution Strategy for Fintech and Web3: The End of Fake Growth by Stacy Muur. Link

• Building DeFi From First Principles by Gregory DiPrisco. Link

• Building index-tracking assets on top of options instead of debt by Vitalik Buterin. Link

• Unlocking the secrets of onchain data - Coinbase Developer Podcast by Jeff Ling. Link

• A Framework For Crypto Neobanks by Delphi Digital. Link

• How to Capture Value by Jonah Burian. Link

• Private Credit in DeFi by DefiLlama. Link

• The new comms playbook: show, don’t promise by Paul Cafiero. Link

• Web3 marketing needs offchain campaigns linked to onchain wallet and transaction data to measure real ROI, as traditional tools like Google Analytics miss crypto activity.

• Formo, Dune, and Nansen are key platforms for unified analytics, wallet profiling, and onchain behavior tracking.

• Track critical metrics: wallet connections, DAU/WAU/MAU, token holdings/transfers, smart contract interactions, transaction volume, gas spending, LTV, RPU.

• Map the full user journey: social ads → landing page → email signup → wallet connection → first transaction → repeat engagement, highlighting drop-offs and high-value channels.

• Use onchain attribution and analytics to identify high-value users, optimize campaigns, and connect marketing spend directly to measurable blockchain outcomes.

Traditional social media marketing doesn't work for Web3 audiences. This group is tech-savvy, values privacy, and is motivated by community ownership and genuine utility, not splashy ads. Reaching them organically requires a different approach—one focused on real engagement and value. Web3 audiences require fundamentally different social media strategies than traditional markets.

Standard marketing tools like Hubspot or Mixpanel don't fully support onchain actions, leaving a gap in understanding the user journey. This makes effective Web3 marketing challenging. Success depends on educational content, transparent communication, community-driven experiences, and measuring results through onchain analytics rather than traditional web metrics.

This article provides a straightforward guide to adjusting your social media strategy for better organic reach. Our guide covers strategies for organic reach to connect with your Web3 audience and drive onchain growth. Learn how to connect with your Web3 audience where it matters most.

How to Reach Web3 Audience on Social Media Organically

Web3 audiences require fundamentally different social media strategies than traditional markets—they prioritize privacy, authentic value, and decentralization over promotional content, making organic engagement through platforms like X, Farcaster, and Discord essential. Success depends on educational content, transparent communication, community-driven experiences, and measuring results through onchain analytics rather than traditional web metrics that fail to track actual user behavior in decentralized ecosystems.

Traditional social media marketing falls flat with Web3 audiences. This tech-savvy community values privacy, decentralization, and genuine utility over flashy advertisements. To reach them effectively, you need an organic approach built on authentic engagement and real value delivery.

The challenge runs deeper than messaging. Standard marketing tools like HubSpot or Mixpanel can't track onchain actions, creating blind spots in your user journey analysis. This disconnect makes measuring Web3 marketing effectiveness nearly impossible with traditional methods.

This comprehensive guide reveals how to build genuine organic reach in Web3. You'll learn platform-specific strategies, content frameworks, and measurement techniques that actually work for decentralized audiences.

Understanding Your Web3 Audience: Beyond Traditional Demographics

Web3 users operate differently than typical social media audiences. Their behaviors, motivations, and platform preferences require a fundamentally different approach.

• Privacy is paramount. Your audience actively uses VPNs, privacy-focused browsers like Brave, and maintains multiple wallet addresses. Traditional tracking methods fail completely. As one Web3 founder explained: "Identity resolution is our biggest challenge, especially while preserving privacy."

• Incentives drive action. Airdrops, governance tokens, and actual ownership create powerful motivation. Your audience seeks projects offering genuine utility and long-term value, not short-term hype cycles.

• Platform preferences are evolving. While X (Twitter) remains central for news and announcements, meaningful conversations increasingly happen on other platforms like Farcaster and even LinkedIn.

Platform Selection: Quality Over Quantity

Focus your efforts on platforms where your specific audience actively engages. Spreading thin across every platform dilutes your impact.

X (Twitter)

Essential for breaking announcements, connecting with Key Opinion Leaders (KOLs), and maintaining broad visibility. Use X for real-time engagement during market events and product launches.

Farcaster

This decentralized social ecosystem offers unique opportunities for authentic crypto conversations. Teams are building apps and frames directly within Farcaster, creating native engagement experiences impossible on traditional platforms.

LinkedIn

Perfect for reaching institutional investors, partnerships, and professional crypto audiences. Success requires thought leadership content and consistent industry insights, but the credibility-building potential is unmatched.

Content Strategy: Building Trust Through Value

Your content must establish credibility and provide genuine utility. Web3 audiences quickly identify and reject promotional fluff.

• Educational Content That Empowers: Create in-depth protocol explanations, market analysis, and step-by-step tutorials. Your audience craves knowledge and appreciates teams that educate rather than just promote.

• Community-Driven Experiences: Implement token-gated surveys and exclusive content for verified holders. This approach reinforces ownership while gathering valuable feedback from your most invested users.

• Transparent Progress Updates: Share roadmap achievements, development challenges, and behind-the-scenes insights. Radical transparency builds trust and keeps your community invested in your journey.

Community Engagement: From Broadcasting to Conversation

Transform your approach from one-way communication to genuine community participation.

• Strategic Incentive Programs: Design airdrops and rewards that recognize genuine community contribution. Use onchain analytics to identify authentic users and filter out bot activity, ensuring rewards reach real supporters.

• Interactive Feedback Sessions: Host regular AMAs on X Spaces or Discord to address community questions directly. These sessions demonstrate that you value community input and are responsive to feedback.

• Ecosystem Collaboration: Partner with complementary projects for cross-promotion and shared events. This strategy taps into existing, relevant communities and accelerates organic growth.

Measuring Success: Web3-Native Analytics

Traditional web analytics miss the mark in Web3. You need metrics that connect social media activity to onchain behavior.

• Community Health Metrics: Track unique active wallets (UAW), retention rates, and community growth patterns. These metrics reveal the true health of your user base beyond vanity metrics.

• Onchain Engagement Tracking: Monitor how social media efforts drive actual onchain actions: token swaps, governance participation, staking activity, and protocol interactions.

• Attribution and Conversion Analysis: Use tools with onchain attribution capabilities to track the complete user journey from social media engagement to transaction completion. UTM parameters and referrer data reveal which channels drive real results.

Building for Long-Term Success

Sustainable organic growth in Web3 requires understanding your audience, choosing appropriate platforms, creating valuable content, engaging authentically, and measuring what actually matters.

These strategies work because they align with Web3 values: transparency, community ownership, and genuine utility. Start implementing these approaches today, and use analytics tools like Formo to track your onchain attribution and optimize your strategy based on real data.

Frequently Asked Questions

How do cookieless Web3 analytics work without user fingerprinting?

Privacy-friendly Web3 analytics leverage public blockchain data instead of invasive tracking methods. These tools analyze onchain activity associated with anonymous wallet addresses, providing insights into user behavior, transaction patterns, and app interactions without collecting personally identifiable information (PII). This approach delivers valuable wallet-level insights while respecting user privacy by design.

Are GDPR or CCPA consent banners required for privacy-friendly analytics?

Privacy-friendly analytics typically avoid the personal data collection that triggers consent banner requirements under GDPR and CCPA. Since these systems work with anonymized onchain data without tracking cookies, consent banners are often unnecessary. This Web3-native approach helps teams build compliant products from the ground up. However, specific requirements depend on your exact data collection practices and their application.

What metrics can you track with onchain analytics while preserving privacy?

Privacy-focused onchain analytics enable powerful measurement without personal data collection. By analyzing anonymous wallet activity, you can track:

• Events: Key user actions like swaps, votes, mints, and protocol interactions

• Conversions: Rates at which users complete target actions and progress through funnels

• Cohorts: User segments based on shared behaviors or start dates for retention analysis

• Attribution: Which marketing channels drive actual onchain activity

These wallet-level insights reveal how users interact with your application while maintaining complete anonymity.

Check out our related articles

• The Web3 Marketing Playbook: Strategies, Channels, and Tools for Scalable Growth

• Mastering Web3 Audiences: Proven Strategies, Tools, and Frameworks to Understand and Engage

• The Benefits of Onchain Attribution in Web3 Marketing

• 15+ Web3 Metrics That Drive Real Growth

• How to Target and Segment Audience in Web3

Key Takeaways

• Wallet profiling builds user segments from verified onchain behavior rather than inferred demographics using transaction history, protocol interactions, and token holdings to label users as DEX traders, NFT collectors, or yield farmers.

• Identity resolution clusters multiple wallet addresses into a single user profile preventing overcounting and giving teams an accurate picture of actual user count across chains and protocols.

• Data silos between offchain campaigns and onchain activity are the most common wallet profiling failure since separating social media tracking from transaction data prevents teams from seeing the full multi-stage user journey before a first onchain action.

Wallet profiling merges onchain and offchain data to create detailed user profiles, enhancing targeting in Web3. This method can boost acquisition ROI by up to 30%. Key practices include behavioural segmentation, predictive analytics, and token-gated campaigns. Future trends for 2025 focus on real-time cross-chain tracking and wallet-based identity resolution. Effective wallet profiling enables organizations to improve user engagement and retention through personalized experiences.

Many crypto projects struggle to effectively understand their users, often relying on incomplete data that fails to reveal true behaviour patterns. This article explores wallet profiling, a method that enables targeted user engagement by merging onchain and offchain data. Research indicates that businesses leveraging advanced user profiling techniques can boost their acquisition ROI by up to 30%. By the end, insights into best practices and future trends will be provided to enhance user targeting strategies in 2026.

Introduction to Wallet Profiling

Wallet profiling is the process of analyzing a user's onchain and offchain activities to create comprehensive Web3 user profiles. This method has become increasingly vital as the landscape of digital interactions evolves, allowing businesses to better understand their users and tailor experiences accordingly. Each blockchain wallet acts as a unique user identifier, facilitating detailed insights into user behavior and preferences.

By leveraging wallet profiling, organizations can segment users based on various criteria, such as transaction history, engagement levels, and interaction patterns. This segmentation supports targeted marketing efforts, enhances user retention strategies, and improves overall service delivery. As a core component of Web3 analytics, wallet profiling empowers teams to make informed decisions that drive growth and engagement.

The ability to create detailed profiles based on wallet activity offers a significant advantage in an increasingly competitive market, where personalization and user experience are paramount. This analytical approach not only aids in identifying key opportunities but also helps in mitigating risks associated with user engagement and retention.

In summary, wallet profiling is essential for any organization aiming to thrive in the evolving Web3 environment, where understanding user behavior can lead to better products and services.

Understanding Wallet Profiling in Web3

Wallet profiling is transforming how businesses understand and engage with users in the Web3 space. By analyzing both onchain and offchain activities, organizations can create detailed user profiles that enhance targeting and personalization. Each blockchain wallet serves as a unique identifier, providing insights into transaction histories, engagement levels, and interaction patterns.

Key differences between traditional Web2 analytics and wallet profiling highlight the advantages of the latter:

• Identifier: Traditional analytics use cookies, session data, and device IDs, which can be blocked or deleted. Wallet analytics uses the wallet address as a persistent, user-controlled identifier.

• Data Source: Web2 analytics pulls from centralized servers, often analyzing historical data. Web3 analytics pulls data directly from public, transparent blockchains, enabling real-time insights.

• Data Ownership: In Web2, user data is typically owned and controlled by companies. In Web3, users retain ownership of their data and grant access on their own terms, enhancing privacy.

• Focus: Web2 analytics focuses on website interactions like pageviews and clicks. Wallet analytics focuses on on-chain events like transactions, token holdings, and smart contract interactions.

These capabilities empower organizations to segment users effectively, leading to improved marketing strategies and enhanced user retention. Ultimately, wallet profiling is a critical component in the evolving landscape of user engagement in Web3.

How Wallet Profiling Works

Wallet profiling is essential for enhancing user targeting in the evolving landscape of digital interactions. By analyzing a user's onchain and offchain activities, businesses can construct comprehensive profiles that reveal insights into user behavior and preferences. This process enables organizations to effectively segment users based on various criteria, such as transaction history and engagement levels, which supports targeted marketing efforts and improves service delivery.

The wallet profiling process consists of several key components:

• Data Collection: Information is extracted directly from the blockchain. This includes transaction history, wallet balances, smart contract interactions, and timestamps.

• Data Enrichment: Onchain data is combined with offchain data, such as social media profiles or in-app behavioral signals (e.g., device type), to create richer profiles.

• Identity Resolution: Algorithms are used to organize multiple wallets into clusters that likely belong to the same user, creating a more unified persona.

• Behavioral Analysis & Segmentation: By analyzing transaction patterns and protocol usage, platforms generate automated labels (e.g., 'DEX Trader', 'NFT Collector') to segment users into meaningful groups without invasive individual tracking.

This comprehensive profiling approach empowers organizations to make informed decisions that drive growth and engagement.

Data Collection and Analysis

Wallet profiling relies on several key data types to enhance user targeting.

• Transaction Data: Shows how tokens move between wallets, including sender/recipient addresses and amounts transferred. This helps gauge if influential wallets ('whales') are accumulating or distributing assets.

• Block Data: Reveals network health and security through metrics like block rewards, validator details, timestamps, and transaction fees.

• Smart Contract Data: Governs how a token functions, including its issuance, staking, and swapping logic. Analyzing this data uncovers the programmed behavior of a digital asset.

• Address Activity: Analyzing the behavior of different addresses, such as the number of active wallets or the creation of new ones, helps in understanding user adoption and fund movements.

Integration with Onchain and Offchain Data

Integrating onchain and offchain data enhances wallet profiling by providing a holistic view of user behavior. This process combines blockchain transaction histories with external data sources, such as social media activity and device usage patterns. By enriching onchain data, organizations can gain deeper insights into user preferences and engagement, allowing for precise segmentation. Such comprehensive profiles enable targeted marketing strategies, ultimately improving user experience and retention.

Data Enrichment: Combining on-chain data with off-chain data is becoming a powerful way to enrich blockchain analytics. By combining data from external sources, analysts can create more comprehensive insights.

Best Practices for Effective Wallet Profiling

Effective wallet profiling involves identifying key behaviors and patterns that can enhance user targeting. The following best practices stand out:

• Consistent Profitability: Focus on wallets that regularly achieve above-average returns through well-timed trades. This indicates a strategic approach to market movements.

• Early Adoption: Identify users who secure positions in promising tokens or projects before they gain mainstream attention. Early adopters often influence broader trends.

• Large Capital Deployment: Monitor wallets that conduct high-volume transactions, reflecting significant investment scale. This activity can signal confidence in certain assets.

• Sophisticated DeFi Engagement: Pay attention to users utilizing advanced DeFi protocols, such as yield farming, liquidity provision, or complex staking strategies. These activities reveal a deeper understanding of market dynamics.

• Strategic Asset Management: Recognize patterns where users accumulate assets during market downturns and distribute them near market peaks. This strategy indicates market savvy and foresight.

By implementing these best practices, organizations can develop more nuanced profiles that lead to improved targeting and engagement strategies, ultimately driving growth in the evolving landscape of Web3 analytics.

Common Mistakes in Wallet Profiling

Common mistakes in wallet profiling can significantly hinder effective user targeting and engagement strategies. Organizations often fall into the trap of over-reliance on Web2 metrics. This focus on vanity metrics, such as clicks and impressions, fails to capture essential on-chain outcomes, including transactions and Total Value Locked (TVL). These metrics do not reflect the complexities of user interactions in a Web3 environment.

Another common error is ignoring the user journey. Web3 users typically engage with content across multiple platforms before executing an on-chain action. By not tracking this multi-stage journey, companies miss crucial insights into user behavior and preferences.

Additionally, data silos pose a significant challenge. Many organizations utilize separate tools for off-chain campaigns, like social media, and on-chain activities, such as airdrops. This separation prevents a holistic view of user performance and behavior, making it difficult to derive actionable insights.

Addressing these mistakes can lead to more effective wallet profiling and improved user targeting strategies.

Enhancing User Targeting with Wallet Profiling

Wallet profiling enhances user targeting by leveraging insights from both onchain and offchain activities. This analytical approach allows organizations to create detailed user profiles, improving the effectiveness of marketing strategies and user engagement. By segmenting users based on their wallet activity, businesses can identify specific behaviors and preferences, leading to more tailored experiences.

Key strategies within wallet profiling include:

• Behavioural Segmentation: Users can be categorized by onchain behavior, such as traders, lenders, NFT collectors, or gamers, allowing for targeted communication and offerings.

• Predictive Analytics: Analyzing wallet interactions enables platforms to forecast user interests and intentions. This capability supports the design of highly personalized marketing campaigns, increasing the likelihood of user engagement.

• Token-Gated Campaigns: Specific wallet profiles can be targeted for initiatives like airdrops, yield farming, or social farming. These campaigns foster community interaction and drive user acquisition through tailored incentives.

By utilizing wallet profiling, organizations not only improve their marketing efficiency but also create a more engaging user experience, ultimately driving growth in the dynamic Web3 landscape. This approach has proven effective in various contexts, such as a DeFi protocol that tracked acquisition channels to identify valuable long-term users.

Future Trends in Wallet Profiling for 2026

Wallet profiling is set to evolve significantly in 2026, driven by advancements in technology and data analytics. Key trends shaping this future include:

• Enhanced Bot Detection: Advanced algorithms are being developed to better identify and filter out automated activity, leading to cleaner data.

• Real-Time Cross-Chain Tracking: The ability to monitor user activity seamlessly across multiple blockchain networks and Layer-2 solutions.

• Wallet-Based Identity Resolution: Connecting multiple wallets to a single user profile while preserving privacy.

• Predictive User Lifecycle Modelling: Using AI-driven insights to forecast user behaviour patterns and lifecycle stages.

• Social Graph Analytics: Understanding user behaviour and influence through their onchain community interactions and connections.

As the industry matures, there's a shift toward data-driven decision making in marketing. Advanced analytics and AI are being used to segment users and personalize outreach at scale. Blockchain provides transparency and traceability, which marketers can use to refine targeting.

Conclusion: Leveraging Wallet Profiling with Formo

Leveraging wallet profiling with Formo enhances user targeting through several key strategies that integrate onchain and offchain data.

• On-chain Attribution: This strategy maps user journeys from web engagement, such as ad clicks, to onchain conversions and transactions, providing a clearer understanding of user behavior.

• Wallet Intelligence: By transforming anonymous wallet addresses into detailed personas, teams can analyze user behavior over time, allowing for more informed decision-making.

• User Segmentation: This capability enables teams to group users based on criteria such as wallet value, transaction frequency, token holdings, and device type. This precise targeting improves marketing effectiveness and user engagement.

• Token-Gated Forms: These forms, surveys, or waitlists are gated by token ownership or other wallet conditions, facilitating user acquisition and qualification.

The combination of these strategies empowers businesses to create more personalized experiences and improve user retention. As organizations adopt these approaches, they can expect enhanced insights into user preferences and behaviors, ultimately driving growth in the evolving landscape of Web3.

Through effective wallet profiling, teams can harness actionable insights that lead to strategic advantages in user engagement and retention efforts.

FAQs

What is the primary goal of wallet profiling in Web3?

The primary goal of wallet profiling is to analyze user activities to create detailed profiles that enhance targeting and personalization, ultimately improving user engagement and retention.

How does wallet profiling differ from traditional Web2 analytics?

Wallet profiling uses blockchain wallet addresses as persistent identifiers, unlike Web2 analytics, which relies on cookies and session data. It also provides real-time insights from public blockchains, enhancing data accuracy and ownership.

What types of data are crucial for effective wallet profiling?

Key data types include transaction data, block data, smart contract data, and address activity, all of which contribute to understanding user behavior and engagement patterns.

What common mistakes should organizations avoid in wallet profiling?

Organizations should avoid over-relying on Web2 metrics, ignoring the user journey, and creating data silos that separate onchain and offchain data, as these can hinder effective targeting strategies.

What future trends are expected in wallet profiling by 2026?

Future trends include enhanced bot detection, real-time cross-chain tracking, wallet-based identity resolution, predictive user lifecycle modeling, and social graph analytics, all aimed at improving user insights and targeting.

Related Articles

Check out these related articles for more information:

• Wallet Intelligence - Directly complements wallet profiling by explaining the intelligence layer that powers audience insights and wallet profiles for growth teams.

• Comprehensive 360° wallet profiles - Provides an in-depth guide on building complete wallet profiles combining onchain and offchain data, the core methodology discussed in this article.

• Segment users - Explains the segmentation process using onchain and offchain data, a key application of wallet profiling mentioned throughout the article.

• Onchain user behavior - Deepens understanding of how behavioral data reveals user activity patterns, essential for effective wallet profiling and targeting.

• Wallet analytics - Offers comprehensive coverage of wallet behavior analysis and how to unlock growth with onchain data, directly supporting the article's focus.

• Web3 marketing needs offchain campaigns linked to onchain wallet and transaction data to measure real ROI, as traditional tools like Google Analytics miss crypto activity.

• Formo, Dune, and Nansen are key platforms for unified analytics, wallet profiling, and onchain behavior tracking.

• Track critical metrics: wallet connections, DAU/WAU/MAU, token holdings/transfers, smart contract interactions, transaction volume, gas spending, LTV, RPU.

• Map the full user journey: social ads → landing page → email signup → wallet connection → first transaction → repeat engagement, highlighting drop-offs and high-value channels.

• Use onchain attribution and analytics to identify high-value users, optimize campaigns, and connect marketing spend directly to measurable blockchain outcomes.

Web3 marketing requires integrating onchain blockchain data with traditional offchain analytics to measure true ROI, since standard tools like Google Analytics miss wallet activity and smart contract interactions. By combining wallet addresses, transaction patterns, and token holdings with campaign metrics, teams can identify high-value users, move beyond vanity metrics, and optimize conversion funnels from initial touchpoint to actual onchain transactions. Specialized platforms like Dune, Nansen, and unified analytics tools bridge this gap to enable data-driven growth strategies in crypto mar

Traditional marketing analytics tools like Google Analytics fall short in the Web3 space. They can't track onchain activity, leaving massive blind spots in understanding user behavior. To truly measure ROI in crypto marketing, teams need to bridge their offchain campaigns with onchain outcomes.

This comprehensive guide covers everything you need to know about Web3 marketing analytics. You'll discover how to leverage onchain data to identify your highest-value users, measure genuine engagement beyond vanity metrics, and optimize your crypto marketing funnels for maximum impact. It's time to replace guesswork with data-driven growth strategies.

What is Web3 Marketing Analytics?

Web3 marketing analytics combines data collection and analysis from both offchain and onchain sources to create a complete picture of user behavior. Unlike traditional Web2 analytics that depend on emails and cookies, Web3 analytics centers around wallet addresses and blockchain activity. The objective is building a unified view of the entire user journey—from initial discovery through final onchain conversion.

Key Data Sources to Track

Comprehensive marketing performance requires combining two essential data types.

Onchain Data

Onchain data encompasses all information publicly recorded on blockchain networks, providing direct insights into user asset behavior. Critical signals include:

• Wallet addresses: The primary user identifier in Web3 ecosystems

• Token holdings and transfers: Asset ownership and movement patterns

• Smart contract interactions: Actions like staking, swapping, lending, or governance voting

• Transaction frequency and volume: User activity levels and value moved

• Gas spending patterns: Investment in network participation

Offchain Data

Offchain data originates from traditional marketing channels, providing crucial context for funnel awareness and discovery phases. Essential signals include:

• Website traffic sources: UTM tracking and referral analysis to identify acquisition channels

• Social media engagement: Interactions across Twitter, Discord, Telegram, and other platforms

• Email campaign performance: Open rates, click-through rates, and engagement metrics

• Content consumption: Blog reads, video views, and educational material engagement

How to Optimize Your Marketing with Web3 Data

Combining onchain and offchain data transforms marketing from guesswork into strategic decision-making.

Identify Your Most Valuable Users

Wallet profiling transforms anonymous addresses into actionable user personas. By unifying onchain and offchain data, you can segment users based on token holdings, transaction history, wallet age, and engagement patterns. This reveals your power users and the characteristics that drive long-term value.

For example, users who hold governance tokens and actively participate in protocol decisions often become your strongest advocates and highest lifetime value customers.

Measure Real Engagement & ROI

Move beyond surface-level metrics like likes and page views to focus on meaningful onchain conversions. These crypto marketing metrics reveal true campaign impact:

• Wallets Connected: Users who successfully link their crypto wallets to your platform

• Active Wallets (DAU/WAU/MAU): Unique wallets engaging daily, weekly, or monthly

• Cost Per Wallet (CPW): Campaign spend divided by new wallets acquired

• Onchain Conversion Rate: Percentage of users completing key blockchain actions

• Lifetime Value (LTV): Total value generated by a user across their entire journey

• Revenue Per User (RPU): Average revenue generated per active wallet

Build Optimized Conversion Funnels

Map the complete user journey from initial touchpoint to final onchain transaction. Visualizing this path reveals drop-off points and optimization opportunities, enabling you to focus spending on channels that consistently deliver high-value users.

A typical Web3 funnel might look like: Social Media Ad → Landing Page → Email Signup → Wallet Connection → First Transaction → Repeat Engagement.

Essential Tools for Web3 Marketing Analytics

Several specialized platforms address the unique needs of crypto marketing analytics:

For Unified Analytics

Tools like Formo combine product and marketing analytics to track complete user journeys, connecting offchain campaigns directly to onchain revenue and providing comprehensive attribution models.

For Onchain Intelligence

Platforms like Dune and Nansen offer powerful capabilities for deep wallet activity analysis, enabling custom dashboard creation to monitor ecosystem trends and user behavior patterns.

For Campaign Attribution

Advanced attribution tools help connect specific marketing touchpoints to onchain outcomes, providing clear ROI measurement across all channels.

Start Making Data-Driven Decisions

Web3 marketing analytics has become essential for projects serious about sustainable growth. By integrating onchain data with offchain signals, teams can finally measure what truly matters and make decisions that drive real impact. Remember: you can't improve what you don't measure.

See how Formo makes Web3 marketing analytics simple. Book a demo.

FAQs

How does Web3 marketing analytics improve campaign measurement?

Traditional analytics tools create blind spots by missing onchain activity entirely. Web3 marketing analytics integrates offchain marketing data with onchain wallet behavior, delivering complete user journey visibility. This enables accurate attribution, showing which campaigns drive valuable actions like token swaps, staking, or governance participation.

For instance, you can track a user from clicking a Twitter ad through wallet connection to executing their first trade. This unified view measures true crypto marketing ROI by connecting spend to specific onchain outcomes, enabling optimization for actions that actually drive business value.

What onchain metrics are essential for Web3 marketing analytics?

Focus on onchain metrics that signal genuine engagement and long-term value creation:

• Wallet Tracking: Monitor new versus returning wallets to measure retention and growth

• Transaction Volume: Measure total value moved through your platform

• Protocol Interactions: Track specific actions like staking, liquidity provision, or governance voting

• Token Holdings: Analyze user portfolio composition for richer segmentation

• Gas Spending: Understand user investment levels in network participation

For example, tracking wallets that participated in an NFT mint reveals their long-term engagement patterns and helps calculate cohort lifetime value.

How can I track the full Web3 user journey effectively?

Effective user journey tracking requires multi-source data integration. Begin by mapping offchain touchpoints including social media interactions, website visits, and email engagement. Connect this activity to onchain data once users link their wallets, revealing the complete path from discovery to conversion.

Robust wallet tracking is fundamental. By linking ad clicks to wallet addresses, you can follow subsequent user actions—from initial deposits through every transaction. This granular tracking provides clear attribution and demonstrates how different channels contribute to user activation, retention, and long-term value creation.

Check out our related articles

• What Are the 5 Essential Web3 Marketing Metrics to Track?

• The Benefits of Onchain Attribution in Web3 Marketing

• How to Visualize and Understand the Crypto User Journey

• Wallet Intelligence Explained: How it Works, Benefits, and Use Cases

• How to Identify Your Top Crypto Growth Channels with Web3 Marketing Analytics

• Web3 marketing in 2026 needs offchain-to-onchain attribution; traditional tools like Google Analytics miss wallet activity and token transactions.

• Formo enables unified tracking, wallet intelligence, and real-time insights across marketing campaigns and onchain actions.

• Focus on high-value onchain actions: meaningful transactions, vault deposits, transaction volume, revenue, and long-term retention.

• Stay ahead by engaging Twitter/X, Discord, Telegram, Web3 Marketing DAO, DeFi Pulse Community, and attending DevCon, Token2049, ETHDenver, Consensus.

• Optimize campaigns by combining Web2 tactics with Web3-native analytics, segmenting users by wallet behavior, and measuring true ROI through onchain attribution.

Web3 marketing moves at breakneck speed. New protocols launch daily, user behaviors shift overnight, and yesterday's growth tactics become obsolete before you can say "airdrop." For crypto teams, staying current isn't just helpful—it's survival.

Here's the challenge: Web3 teams struggle to track user journeys from offchain marketing to onchain conversions. While you're running Twitter campaigns and Discord communities, your most valuable data lives onchain, invisible to traditional analytics tools. This disconnect leaves teams flying blind, missing crucial insights about what actually drives growth. Without accurate data, marketing strategy goes out of the window.

The solution isn't abandoning proven marketing principles. Instead, successful Web3 teams are learning to blend traditional tactics with onchain-native tools and data sources. This guide shows you exactly how to bridge that gap and stay ahead of the curve.

The Web2 vs Web3 Marketing Divide

Web3 user journeys look nothing like traditional funnels. Your users discover you through Twitter, land on your website, connect their wallet, then complete key actions onchain—minting, staking, swapping. Each step spans different platforms, making attribution nearly impossible with standard tools.

Traditional analytics platforms like Google Analytics track clicks and page views perfectly. But they go dark the moment users connect their wallets. That crucial conversion moment—when a visitor becomes an onchain user—happens in a blind spot.

Meanwhile, your most valuable conversion events occur onchain. Token purchases, liquidity provision, vault deposits, governance votes—these high-intent actions signal real user engagement, not vanity metrics like time on site.

This creates a massive gap. You know someone visited your landing page, but you can't connect that visit to the wallet that staked 1,000 tokens an hour later. Without this connection, optimizing campaigns becomes guesswork.

Harness Onchain Data for Real-Time Insights

Onchain data transforms how you understand users. Unlike web2 analytics that show limited behavioral signals, blockchain data reveals the complete picture of user activity, holdings, and intent.

Wallet addresses become rich user profiles. You can see token balances, DeFi positions, transaction history, and activity across protocols. A wallet holding stablecoins and using lending protocols signals different intent than one holding meme coins and trading NFTs.

High-intent onchain actions provide powerful signals. Vault deposits shows meaningful engagement. Staking tokens indicates long-term commitment. Participating in governance reveals power users. These behaviors predict future value better than traditional metrics.

Track meaningful metrics like wallet activity patterns, transaction volume by user segments, retention rates for different cohorts, and revenue per wallet. This data helps you identify your most valuable users and understand what drives them to act.

Unify Your Analytics with Web3-Native Platforms

The future belongs to platforms that bridge web2 and web3 data seamlessly. Tools like Formo combine traditional web analytics with onchain intelligence, giving you complete attribution from first touchpoint to final conversion.

• Wallet intelligence transforms anonymous addresses into detailed user profiles. You can segment users based on their holdings, activity patterns, and protocol interactions. This enables precise targeting impossible with traditional demographic data.

• Onchain attribution finally answers the question: which marketing channels drive real conversions? You can track UTM parameters through to onchain actions, measuring true ROI instead of vanity metrics.

• Real-time activity feeds show exactly what users do after connecting their wallets. Watch as website visitors become token holders, identify drop-off points in your funnel, and spot retention opportunities as they happen.

Integrate Web3 Tools with Traditional Strategies

Don't abandon proven marketing channels—enhance them with Web3 capabilities. Email marketing becomes wallet messaging. Demographic targeting expands to include token holdings. Campaign attribution extends to onchain conversions.

• Bridge offchain and onchain tracking using UTM parameters and referral codes that persist through wallet connections. This creates unified user journeys spanning web2 and web3 touchpoints.

• Segment users based on both traditional demographics and onchain behavior. Target DeFi power users differently from NFT collectors. Personalize messaging based on wallet holdings and protocol interactions.

• Test integrated campaigns that nurture users from initial awareness through onchain conversion. Measure success by onchain metrics like transaction volume, not just clicks and impressions.

Engage with Web3 Communities and Events

Web3 moves fast, and communities drive much of the innovation. Stay plugged into key channels where trends emerge and strategies develop.

• Follow Web3 marketing communities on Discord and Telegram. Join discussions in spaces like Web3 Marketing DAO, DeFi Pulse Community, and protocol-specific channels. These groups share real-time insights about what's working.

• Twitter remains crucial for Web3 marketing intelligence. Follow protocol founders, successful growth teams, and Web3 marketing experts. Watch for case studies, tool recommendations, and strategy breakdowns.

• Attend conferences like DevCon, Token2049, ETHDenver, and Consensus. These events showcase emerging trends, new tools, and successful case studies. Network with other growth teams facing similar challenges.

• Study successful protocol launches and marketing campaigns. Analyze their user acquisition strategies, community building tactics, and retention mechanisms. Many teams share detailed postmortems that reveal valuable insights.

Summary

Web3 marketing requires bridging the attribution gap between offchain campaigns and onchain conversions, which traditional analytics tools cannot track once users connect their wallets. By combining web2 marketing tactics with onchain data platforms, teams can identify high-intent user actions like token staking and vault deposits that predict real engagement better than vanity metrics.

Success in 2026 depends on unifying wallet intelligence with traditional analytics to measure true ROI and optimize campaigns based on complete user journeys across both ecosystems.

Stay Current in the Fast-Moving Web3 Space

Web3 marketing evolves rapidly, but the fundamentals remain consistent: understand your users, measure what matters, and optimize based on data. The difference is that your most valuable data lives onchain.

Start by implementing onchain analytics to understand your current users. See where they come from, what they hold, and how they behave. This foundation enables everything else.

Consider platforms like Formo that unify your marketing data and provide the attribution you need to optimize campaigns. The investment in proper analytics pays for itself through improved targeting and campaign performance.

Ready to bridge the gap between your Web3 marketing and onchain conversions? Try Formo's analytics for free and start tracking the metrics that actually matter for Web3 growth.

Frequently Asked Questions

How do I use onchain analytics to understand Web3 marketing trends?

Onchain analytics helps you directly measure user behavior and campaign effectiveness. By tracking wallet activity, you can see how users interact with your app after engaging with marketing efforts. This provides clear data on what drives actions. To improve your crypto marketing ROI, use tools that connect offchain campaigns to onchain results. This is key for understanding which Web3 marketing trends are actually working for your project and where you should focus your resources for community growth.

What is wallet intelligence and how does it bridge the gap from Web2 to Web3?

Wallet intelligence turns anonymous wallet addresses into user profiles by analyzing onchain activity. It helps you understand who your users are and what they do. This is essential for bridging the gap from Web2 to Web3, as it connects traditional marketing data with onchain actions. By linking web analytics with wallet data, you can build a complete view of the user journey. This unified attribution model is vital for measuring the real impact of your campaigns and making better decisions.

How does Generative Engine Optimization (GEO) apply to Web3 marketing?

Generative Engine Optimization (GEO) is about making your content easy for AI models and search engines to understand and answer user questions directly. For Web3 marketing, this means creating clear, authoritative content that explains complex topics. Focus on answering specific questions about your project, the problems it solves, and how it fits into current Web3 marketing trends. This approach helps you appear in AI-powered search results, attracting users who are actively seeking solutions and driving organic community growth.

Check out our related articles

• How to Track Where Your Web3 Users Come From

• Mastering Web3 Marketing Attribution: The Complete Guide to Onchain & Offchain Analytics

• Understanding Onchain User Behavior to Supercharge Your Web3 Marketing Strategy

• The Web3 Marketing Playbook: Strategies, Channels, and Tools for Scalable Growth

• The State of Crypto Marketing in 2026: From Hype to Real Growth

• Web3 cohort analysis segments wallet users into New, Retained, Dormant, and Resurrected groups based on onchain activity.

• Wallet-based cohort tracking replaces cookies by using wallet addresses to measure real blockchain actions across the user lifecycle.

• Formo simplifies Web3 cohort analysis by combining onchain attribution, wallet intelligence, unified data, and user segmentation.

For Web3 projects, user acquisition costs are high and retention is low. Too many teams are lost in the dark, unable to answer basic questions like "Where do my users come from?" or "Why do they leave?" To build a product that lasts, you need to understand your users. This is where product analytics and Web3 cohort analysis come in.

This post will show you how to analyze key user groups—new, retained, dormant, and resurrected—using Web3 cohort analysis. With a tool like Formo, you can turn these insights into growth.

Understanding User Groups with Web3 Cohort Analysis

You can't treat all users the same. By segmenting them into groups, you can understand their unique behaviors and needs.

New Users

New users are interacting with your dApp for the first time. It's critical to track their first actions and onboarding completion rate.

• What to analyze: Which acquisition channels bring in the most valuable new users? Use onchain attribution to see which campaigns drive the most onchain activity and deliver the best ROI.

Retained Users

Retained users consistently return to your app. These are your most valuable users, and understanding what keeps them engaged is the key to growth.

• What to analyze: What are the "sticky" features that keep users coming back? Use user segmentation in Formo to analyze the behavior of these power users and identify the onchain actions that correlate with long-term retention.

Dormant Users

Dormant users were once active but have stopped interacting with your dApp. Identifying why they left is the first step to winning them back.

• What to analyze: Where do users drop off? Analyze the user journey to find common friction points that cause users to go inactive.

Resurrected Users

Resurrected users are previously dormant users who have returned. Their comeback offers a valuable learning opportunity.

• What to analyze: What brought them back? Was it a new feature, a re-engagement campaign, or something else? Use user segmentation to identify what works and create targeted campaigns to reactivate more dormant users.

Why Product Analytics in Web3 Matters

Traditional analytics tools like Google Analytics can't see onchain data, leaving you with an incomplete picture of the user journey. High user acquisition costs and low retention rates are major challenges, and without the right data, marketing spend is often wasted.

Product analytics helps you connect the dots. By unifying offchain and onchain data, Web3 cohort analysis allows you to map the entire user journey, from the first ad click to the final onchain transaction. This is how you find out what makes users stick around. Formo is built for this, unifying your data to give you a complete view of user behavior.

How to Simplify Cohort Analysis with Formo

Formo is a product analytics platform built for onchain teams. It makes Web3 cohort analysis simple, so you can focus on growing your user base.

Here's how Formo helps:

• Onchain Attribution: See which marketing efforts bring in high-value users and measure the ROI of your campaigns.

• Wallet Intelligence: Turn anonymous wallets into user profiles. Understand who your users are by unifying offchain and onchain data.

• Unified Data: Get a complete view of the user journey by combining data from all your sources.

• User Segmentation: Easily create and analyze cohorts like "new," "retained," and "dormant" to understand their behavior.

To build a successful Web3 product, you need to know your users. Web3 analytics gives you the insights to do just that. Analyzing new, retained, resurrected, and dormant users is the key to improving retention and achieving sustainable growth.

Ready to get started? Use Formo to begin your own Web3 cohort analysis and see what your data is telling you.

FAQs

What is Web3 cohort analysis and how does it differ from Web2?

Web3 cohort analysis groups users by when they first interacted with your app. You can then track their behavior over time. This helps you understand how product changes or marketing efforts affect user actions. The main difference from Web2 is the data source. Instead of relying on cookies or device IDs, Web3 cohort analysis uses wallet addresses as the primary user identifier. This approach uses on-chain analytics to measure user activity, providing a direct view of how users engage with your protocol and its smart contracts. This allows product analytics to be grounded in actual on-chain events.

How do you define user segments like new, retained, and dormant users with wallet activity?

Defining user segments with on-chain data relies on tracking wallet interactions over specific time periods. These definitions help you measure growth and retention accurately.

• New Users: Wallets interacting with your dApp for the very first time within a defined period (e.g., this week).

• Retained Users: Wallets that were active in a previous period and are still active in the current one.

• Resurrected Users: Wallets that were previously active, became dormant, and then returned to interact with your app in the current period.

• Dormant Users: Wallets that were active in a previous period but have not shown any activity in the current one.

What are the best practices for conducting Web3 cohort analysis?

For effective Web3 cohort analysis, it's best to combine on-chain and off-chain signals. Start by identifying the key on-chain actions that define an "active" user for your dApp, such as a swap, stake, or vote. Use product analytics tools that can pull this on-chain data. Then, enrich this with off-chain data from sources like your website, social channels, or community platforms. This gives you a full picture of the user journey. The goal is to see how off-chain engagement converts to on-chain value. This unified view helps you understand user behavior and measure the true impact of your product decisions.

Why is cohort analysis important for Web3 growth?

Cohort analysis helps Web3 teams understand which users activate, return, drop off, or come back after inactivity. By separating users into groups like new, retained, dormant, and resurrected, teams can see which channels, features, and campaigns are driving sustainable growth instead of short-term activity.

What metrics should you track in Web3 cohort analysis?

Useful metrics include wallet activation rate, first transaction rate, repeat transaction rate, retention by cohort, dormant wallet percentage, resurrected wallet percentage, and onchain activity by acquisition source. These metrics help teams understand both user quality and long-term engagement.

How can Formo help with Web3 cohort analysis?

Formo helps teams analyze cohorts by combining onchain attribution, wallet intelligence, unified data, and user segmentation. This makes it easier to identify valuable users, understand drop-off points, and create targeted campaigns for retention or reactivation.

• Early-stage Web3 startups: allocate 15–25% of funding to marketing; later-stage projects 5–15% based on growth goals.

• Channel costs: community managers $1,500–$5,000/month, influencers $500–$25,000+, airdrops $5,000+ plus platform fees like Galxe or Zealy.

• Key platforms: X for announcements, Discord and Telegram for community, Galxe for gamified onchain campaigns.

• Measure real ROI with onchain metrics such as cost per wallet, CAC, LTV, linking campaigns to swaps, staking, or NFT mints.

• Use tools that integrate offchain traffic with onchain activity to see which channels drive conversions and optimize budgets effectively.

Building an effective Web3 marketing budget requires understanding channel-specific costs (community managers at $1,500-$5,000/month, influencers from $500-$25,000+, and airdrops starting at $5,000+) and prioritizing onchain attribution to measure true ROI rather than vanity metrics. Early-stage startups should allocate 15-25% of funding to marketing while tracking metrics like cost per holder and lifetime value to identify which channels drive meaningful onchain conversions. Data-driven optimization using tools that connect offchain marketing efforts to onchain user behavior is essential for

Building a successful onchain app is challenging, but budgeting for Web3 marketing can feel like navigating uncharted territory. Without a clear strategy, it's easy to waste resources on tactics that don't drive meaningful results.

This comprehensive guide breaks down how to create an effective Web3 marketing budget that delivers measurable ROI. We'll explore essential channels, realistic cost expectations, and proven analytics strategies to maximize your blockchain marketing investment.

Understanding the Web3 Marketing Landscape

Web3 marketing fundamentally differs from traditional approaches—it's not about impressions, it's about onchain impact. Your users aren't just consumers; they're stakeholders in your ecosystem. Success means building genuine community and trust while driving measurable onchain activity and long-term retention.

Your audience congregates on specific platforms where engagement runs deep:

• X (Twitter) - Real-time discussions and announcements

• Discord - Community building and support

• Telegram - Direct communication and updates

• Onchain campaign platforms like Galxe - Gamified user acquisition

Breaking Down Web3 Marketing Costs

Understanding typical cost ranges helps you allocate resources effectively across key marketing activities.

Social Media & Community Management

Active community management is non-negotiable for maintaining healthy Discord and Telegram channels. Quality managers moderate discussions, answer questions, and foster engagement.

Cost: $1,500–$5,000/month per experienced manager

Influencer Marketing (KOLs)

Key Opinion Leaders can amplify your message to targeted audiences, but pricing varies dramatically based on reach and engagement quality.

Cost: $500 for micro-influencers to $25,000+ for tier-1 KOLs

Airdrops & Onchain Campaigns

Token incentives remain one of the most effective user acquisition strategies in Web3. Budget for both token allocation and platform fees.

Cost: $5,000+ for token incentives, plus platform fees for tools like Zealy or Galxe

Optimizing Your Budget with Data-Driven Analytics

Effective budget optimization requires measuring what actually drives results. This is where onchain attribution becomes essential for Web3 marketers.

Onchain attribution connects your offchain marketing efforts—tweets, ads, influencer posts—directly to onchain actions like swaps, mints, or staking. This connection is crucial for calculating true blockchain marketing ROI and identifying your most effective channels.

Focus on metrics that matter for Web3 success:

• Cost per Wallet - Acquisition cost for crypto wallets

• Customer Acquisition Cost (CAC) - Total cost to acquire active users

• Lifetime Value (LTV) - Long-term value of community members

Formo provides a unified view by linking your web2 traffic with onchain data. It helps you see which channels drive valuable onchain conversions, so you can stop guessing your Web3 marketing cost and start making data-driven decisions—without needing a dedicated data team.

Build Your ROI-Focused Marketing Strategy

A successful Web3 marketing budget prioritizes community building, tracks onchain results, and continuously optimizes based on real performance data. Stop operating in the dark and start measuring what truly drives growth.

Ready to see your true marketing ROI? Book a demo with Formo.

FAQs

How much should a Web3 startup allocate to marketing?

Marketing budget allocation depends on your project's stage and goals. Early-stage startups typically allocate 15-25% of total funding to marketing for initial awareness and community building. Established projects often reduce this to 5-15% to focus on growth and retention.

Your allocation should reflect your funding stage, product-market fit, and growth objectives. For example, a mainnet launch requires larger upfront investment than user retention campaigns. Build flexibility into your budget to adapt based on market feedback and performance data.

What are typical Web3 marketing costs by channel?

Web3 marketing costs vary significantly by channel and campaign objectives:

• Community management: Ongoing personnel costs for Discord/X management

• Influencer marketing: $500-$25,000+ depending on reach and engagement

• Paid advertising: Variable based on platform, targeting, and duration

• Airdrops: Primary cost is token value plus distribution platform fees

A balanced approach typically combines multiple channels, with allocation based on what drives measurable results for your specific project and audience.

How do you measure blockchain marketing ROI with onchain attribution?

Measuring blockchain marketing ROI requires connecting offchain marketing activities to onchain user behaviors. Onchain attribution makes this connection possible by tracking user journeys from marketing touchpoints to smart contract interactions.

Specialized analytics tools can show how users from specific campaigns, influencer links, or community events interact with your protocols. For example, you can measure which channels bring users who complete token swaps, mint NFTs, or provide liquidity. This data enables you to calculate true ROI and optimize your Web3 marketing budget for channels delivering valuable onchain conversions, not just vanity metrics.

Check out our related articles

• How to Identify Your Top Crypto Growth Channels with Web3 Marketing Analytics

• Mastering Web3 Marketing Attribution: The Complete Guide to Onchain & Offchain Analytics

• Ultimate Guide to Measuring CAC and LTV for Onchain Apps

• What Are the 5 Essential Web3 Marketing Metrics to Track?

• Why Crypto Startups Struggle With High CAC and How to Fix it

gm, builders! 👋 Here’s your roundup of this week’s onchain insights.

Highlights:

• Wallet Clusters

• Filter by Channel

• New Dashboard Templates

• Improved Geolocation

• Reading List

Wallet Clusters

Introducing a new Clusters tab on the Users page. Clusters are groups of wallets associated with a single user.

Using identity resolution, multiple wallet addresses are grouped into identity-stitched user clusters: one row per wallet cluster.

Clustering happens automatically behind the scenes with minimal setup required. Here’s how clustering works:

• First, an explicit user_id from the SDK identify event (for example, a Privy user ID or an in-app custom user id) merges every wallet identified under it into one cluster.

• Then, wallets without an explicit user ID are still grouped by anonymous_id, using the earliest-seen canonical address as the cluster key.

• Otherwise, the wallet stands as its own single-address cluster.

Each cluster row shows the sum of individual wallet data, including net worth, socials, labels, first and last seen, volume, revenue, and demographics.

Filter by Channel

You can now filter data by channel based on a 12-channel taxonomy such as Organic Social, Paid Search, Referrals, and more.

Filter by Channel works across every chart and metric on the overview page (top sources, top pages, top locations, top chains, top events, top wallets, KPIs, revenue, volume, wallets, transactions).

Read more about Channels in the docs.

New Dashboard Templates

Three new templates are available when you create a board, to help you get started:

• User Retention & Cohorts Dashboard Template

• User Segments Dashboard Template

• Feature Adoption Dashboard Template

Each template ships with prebuilt charts and SQL queries against your project’s custom events so you can set up a working board more quickly. Pick a template and create your first custom board in a few clicks.

Need more help? Check out the How to Build a Custom Dashboard guide.

Improved Geolocation

Session and user country detection is now live with server-side geolocation in addition to a browser-timezone fallback to improve data accuracy for users with non-default timezones and VPNs.

Audience insights, top countries, and country breakdowns across the dashboard report countries is now more accurate, with no SDK upgrade required.

Analytics remains privacy-friendly: no IP addresses are logged or stored anywhere in Formo. Read more about what data we collect here.

Learn more

Reading List

• Crypto x AI, AI x Crypto: A Survey by IC3. Link

• Unlimited Lending Market Structures by Stani. Link

• State of Onchain Credit by Serotonin Research. Link

• Web3 retention is critically low, with 90% of dApps losing users within the first week due to complex onboarding, unclear value propositions, and low switching costs.

• Complex onboarding is the leading churn driver, as wallet setup and gas fee confusion create 20 to 30 minutes of friction before users reach any core product value.

• Proactive churn prevention uses behavioral analytics to trigger re-engagement campaigns when wallets show inactivity, before users fully disengage from the protocol.

Building a successful Web3 application is a major challenge. Acquiring users is only the first step; keeping users engaged is where the real work begins. A striking statistic from Binance research reveals that 90% of Web3 apps lose their users within the first week, a significantly higher drop-off compared to that seen in traditional mobile apps. This highlights a critical challenge in crypto: user retention.

For any Web3 project, user retention is the make-or-break metric. It directly correlates with revenue, signals strong product-market fit, and ensures long-term sustainability. However, Web3 apps face unique hurdles that traditional applications do not, including complex onboarding, disjointed user discovery, broken attribution, and often unclear value propositions. Overcoming these challenges is essential for growth.

This guide will walk you through the key metrics for measuring Web3 retention, proven strategies to improve it, and how web3 retention analytics tools like Formo can help you turn churn into a growth opportunity.

Why User Retention Matters More in Web3

In crypto, web3 user retention carries more weight than in the traditional Web2 world. The cost of acquiring a user is often higher, and the competitive landscape allows users to switch between protocols with ease. Switching costs in crypto are much lower than elsewhere. Retained users are the foundation of a healthy project, generating more transaction volume and revenue on average than new users.

Improving retention directly impacts two of the most critical business metrics: Customer Lifetime Value (CLV) and Customer Acquisition Cost (CAC). By keeping users engaged for longer, you increase their lifetime value. A higher CLV means your project can sustain a higher CAC, giving you a competitive edge in a crowded market. A strong retention strategy is not about keeping user counts high; it's about building a sustainable and profitable business.

The Unique Challenges of Web3 User Retention

Web3 projects grapple with a distinct set of challenges that contribute to high churn rates. Understanding these friction points is the first step toward building effective retention strategies.

Complex Onboarding Processes

The initial user experience in Web3 can be overwhelming. Newcomers are often confronted with technical jargon like "seed phrases" and "gas fees" without clear explanations. The process of setting up a wallet and connecting it to a dApp can take 20-30 minutes, a stark contrast to the five-minute sign-up common in Web2. These initial hurdles create significant drop-off points before a user even gets to experience the core value of your product.

UX and Security Concerns

Beyond onboarding, many decentralized applications have complex user interfaces that require a steep learning curve. This, combined with persistent security threats—an estimated $14 billion was lost to Web3-related crimes—erodes user trust and confidence. Volatile gas fees and slow transaction speeds can further degrade the user experience, pushing users away.

Unclear Value Propositions

Many Web3 projects struggle to communicate practical, real-world benefits beyond financial speculation. 'Blockchain' is not a value proposition. To drive sustained engagement, it is crucial to demonstrate clear utility. Projects that tie their services to tangible outcomes are more successful at retaining users because they offer clear and consistent value.

Essential Web3 Key Metrics for Measuring Retention

To improve retention, you first need to measure your key metrics. Here are the essential web3 key metrics your team should be tracking:

• Daily Active Users (DAU) & Monthly Active Users (MAU): In Web3, these metrics are tracked via unique wallet addresses interacting with your dApp. They provide a high-level view of user activity.

• Retention Rate: This is the percentage of users who return to your app over a specific period. It is a direct measure of your product's "stickiness."

• Churn Rate: The inverse of retention, this metric shows the percentage of users who stop using your protocol. Analyzing churn helps identify when and why users are leaving.

• Cohort Analysis: This involves grouping users by when they started using your app and tracking their behavior over time. Cohort analysis reveals patterns in user engagement and helps measure the impact of product changes on retention.

Below is a general comparison of retention rates across different Web3 sectors:

Web3 User Retention Analytics: Beyond Basic Metrics

Basic metrics like DAU and MAU only tell part of the story. To truly understand what drives retention, you need to dive deeper with web3 user retention analytics. This practice involves analyzing onchain and offchain user behavior to uncover the "why" behind your data.

Key indicators to track include transaction frequency, feature adoption, and engagement depth. By introducing concepts like wallet intelligence and user lifecycle tracking, you can move beyond surface-level data. Unified analytics platforms like Formo combine Web2 data (like site visits) with Web3 data (like onchain transactions) to provide a complete view of the user journey, revealing what actions lead to long-term engagement.

Proven Web3 Retention Strategies That Work

Armed with data, you can now implement targeted strategies to improve web3 user retention.

Simplify Onboarding and Improve UX

First impressions matter. Streamline your onboarding flow by implementing progressive onboarding, where you introduce features and concepts step-by-step. Reduce initial friction by using social logins and sponsoring transactions to create a gasless experience. Provide clear, accessible educational content like tutorials and guides to build user confidence from day one.

Build Strong Communities

A vibrant community is one of the most powerful retention tools in Web3. Use platforms like Discord and Telegram to create engaged spaces where users can connect, share knowledge, and feel a sense of ownership. Implementing governance tokens and rewarding participation can further increase a user's investment in your project's success.

Personalization and Targeted Engagement

Use web3 user retention analytics to segment your users based on their onchain behavior. Create personalized experiences tailored to their wallet history and transaction patterns. Implement targeted campaigns for different user lifecycle stages—whether they are new, returning, or power users—to deliver the right message at the right time.

Proactive Churn Prevention

Don't wait for users to leave. Use behavioral analytics to identify at-risk users early. Automated retention campaigns, triggered by specific actions or periods of inactivity, can re-engage users before they churn. Wallet messaging and in-app notifications are effective channels for reaching dormant users and reminding them of your protocol's value.

Turn Retention Insights into Growth

User retention is the cornerstone of sustainable growth in the Web3 ecosystem. It is not a one-time fix but a continuous cycle of analysis, strategy, and optimization. By focusing on the right metrics and implementing proven retention strategies, you can build a product that users love and return to.

Web3 retention analytics platforms provide the data foundation necessary to make informed decisions. They empower you to understand your users, refine your product, and ultimately turn retention insights into a powerful growth engine.

Follow Formo on LinkedIn and X for more onchain growth insights.

Ready to transform your retention strategy? Get started with Formo's unified analytics platform. Leading product and marketing teams use Formo to turn data into actionable growth insights.

FAQs

What's the average retention rate for Web3 applications?

Average retention rates vary by sector. For example, gaming dApps may see 30-day retention around 2-3%, while a successful DeFi platform might achieve over 15%. Generally, Web3 retention is lower than in Web2, often falling below 10% after 30 days.

How do you calculate user retention for wallet-based applications?

Retention is typically calculated using cohort analysis. You group users (wallets) by the week or month they first interacted with your dApp and then measure what percentage of that group returns in subsequent periods.

What are the main differences between Web2 and Web3 retention strategies?

Web3 retention places a greater emphasis on community building, user ownership through tokens, and navigating technical complexities like gas fees and wallet security. Web2 strategies often focus more on traditional email marketing and centralized reward programs.

How can I identify users who are about to churn?

Behavioral analytics can signal churn risk. Look for a decrease in transaction frequency, a drop-off in engagement with key features, or long periods of inactivity. Tools like Formo can help you set up alerts for these patterns.

What role does community building play in Web3 user retention?

Community is crucial in Web3. It fosters a sense of belonging and ownership, turning users into advocates. Engaged communities on platforms like Discord and Telegram provide support, share feedback, and help drive protocol development, which are all strong retention drivers.

How do gas fees and transaction costs impact user retention?

High or unpredictable gas fees create friction and can deter users, especially for applications requiring frequent transactions. Offering gasless transactions or operating on L2 solutions can significantly improve the user experience and boost retention.

What's the best way to measure retention across multiple chains?

To measure retention cross-chain, you need a unified analytics platform that can aggregate data from different blockchains. This allows you to track a user's entire journey, even if they interact with your dApp on multiple chains.

How can personalization improve Web3 user retention rates?

Personalization allows you to create more relevant experiences. By analyzing a user's wallet history and onchain behavior, you can offer tailored content, targeted incentives, or customized feature recommendations that align with their specific interests and needs, making them more likely to stay engaged.

• Web3 user acquisition replaces demographic profiles and cookies with wallet addresses, requiring onchain behavior data to identify and target high-quality users.

• Targeted airdrops drive higher-quality acquisition by rewarding users who have already interacted with similar protocols rather than distributing to all signups.

• Token-gated experiences retain acquired users by unlocking exclusive content or features for wallets that meet onchain criteria like long-term token holding.

This is a summary of an episode from the Onchain Growth Club podcast titled "Building Cross-Chain DeFi Beyond the Hype w/ Shaun Janse van Vuuren, ChainFlip"

Chainflip has quietly achieved staggering growth, processing over $3.4 billion in total volume, with a remarkable $2.4 billion in the last year alone. This success wasn't built on fleeting hype or top-of-funnel noise. Instead, it signals a strategic shift in crypto marketing—a move from narrative-driven speculation to a product-led approach centered on user retention.

This post uses Chainflip as a case study to explore a more sustainable model for web3 growth, one that prioritizes high-value users over high-volume vanity metrics. We'll unpack the key insights from their playbook, including targeted user segmentation, data-driven marketing tactics, and the evolution of tokenomics from pure hype to genuine product utility. For onchain builders looking to grow, Chainflip's journey offers a masterclass in building for the long game.

The Problem with Top-of-Funnel Obsession

The standard crypto marketing playbook is well-known: run incentive campaigns, partner with influencers, and make noise to attract as many users as possible. This approach focuses almost exclusively on top-of-funnel metrics, but it often fails to deliver lasting results.

According to Chainflip's Head of Growth, Sean, the conversion rates from these typical campaigns are shockingly low. "You're looking at probably less than 1 or 2% by far," he explains. The industry's obsession with attracting a wide audience often overlooks the most critical element: retaining high-value users who drive real activity.

Chainflip's analysis revealed a common pattern, similar to what's seen in many Web2 startups: a small group of power users generates the vast majority of volume. In the case of Polymarket, for instance, 90% of their volume is driven by just 5% of their user base. Recognizing this, Chainflip chose to focus on customer retention rather than chasing inflated user counts. As Sean puts it, "I'm happy with... a third of those users if they're power users and active users." This philosophy guides their entire growth strategy.

Chainflip's User Segmentation Strategy

To effectively target these power users, Chainflip developed a nuanced user segmentation strategy based on the distinct ecosystems they serve. This approach allows them to tailor their crypto marketing efforts to the specific behaviors and needs of different user groups.

Their strategy breaks down into three main segments:

• The Bitcoin Ecosystem: This group consists of high-value, low-frequency users. These are often OG crypto holders with significant capital who are looking for secure ways to activate their Bitcoin in DeFi. They aren't making hundreds of small trades; they're moving six or seven figures in a single swap.

• The Solana Ecosystem: In contrast, the Solana community is characterized by high-frequency trading in smaller amounts. Many of these users are looking to diversify gains from fast-moving assets like meme coins into more stable holdings like Bitcoin and Ethereum.

• The Ethereum Ecosystem: Ethereum users represent a mixed spectrum, falling between the high-value, low-frequency Bitcoin holders and the high-frequency, smaller-sized Solana traders. This ecosystem acts as a bridge, containing both large and small players.

By segmenting users based on swap size, experience level, and ecosystem preferences, Chainflip can identify and nurture their ideal customers: a "small subset of retail users who move in size." This precision targeting is a core component of their data-driven marketing, though it comes with challenges, such as distinguishing between large retail traders and institutional players.

Data-Driven Marketing in Action

With a product that has found its market fit, Chainflip has transitioned from general branding to focused product marketing. Their approach is grounded in data and a deep understanding of user behavior.

Here’s how their data-driven marketing works in practice:

• Behavior Tracking and Wallet Analysis: Chainflip tracks volume, swap sizes, and wallet activity to identify their power users. This allows them to understand where their growth is coming from and who is driving it.

• Direct User Feedback: Rather than relying on assumptions, the team actively engages with its most valuable users. Sean mentions having "check-ins with them, some calls with them, see how they're doing, like what do they think of the product, what improvements they could see."

• Customer Success Methodology: This feedback loop directly informs product development. By understanding what new chains or features their users need, Chainflip can make improvements that directly enhance the user experience and encourage customer retention.

• Targeted Content and SEO: Their marketing efforts are focused on their core value propositions. The team has revamped its website with a strong SEO focus and uses AI-enhanced content to ensure that when users search for a solution like theirs, they find clear, transparent information.

This approach may not generate the same level of social media hype as a massive incentive campaign, but it builds a loyal user base that trusts the product and continues to use it.

From Buy-and-Burn to Community Value

A crucial part of Chainflip's evolution has been the strategic shift in its tokenomics. Initially, the focus was on building hype to drive token purchases. Now, the token plays an integral role in the product's utility and community growth. The team has moved from a "buy-and-burn" model to a "stake-and-earn" system. This new model allows token holders to stake their FLIP and earn a percentage of the protocol's revenue, effectively receiving dividends.

This change transforms the token from a speculative asset into a tool for securing the network and sharing in its success. It aligns the interests of the protocol with its community, creating a powerful incentive for long-term participation. Sean's philosophy is clear: "If you really want to build a community in crypto, you need to get your token holders wealthy." By distributing real revenue, ChainFlip empowers its community and fosters sustainable web3 growth.

Beyond the Standard Crypto Playbook

Chainflip's success challenges the conventional wisdom of crypto marketing. Instead of relying on incentive campaigns and partnerships that often attract mercenary capital, they've prioritized organic growth through product excellence and user retention.

As they prepare for their next major product launch, their strategy remains focused on delivering real value rather than manufactured hype. Sean’s advice to other builders is to think differently: "Get creative when you're doing your go-to-markets... experiment where you can." He encourages teams with a solid product to move beyond the standard playbook and find unique ways to connect with their audience.

Build for the Long Game

ChainFlip's growth playbook offers several key lessons for any team building in the onchain space:

• Focus on user retention: Acquiring users is only the first step. True growth comes from keeping your most valuable users engaged.

• Segment your users strategically: Understand the different user profiles in your ecosystem and tailor your product and marketing to meet their specific needs.

• Build real utility: Create a product that solves a genuine problem and integrates your token in a way that provides tangible value to holders.

The crypto industry is maturing, and the most successful projects will be those that shift from narrative-driven marketing to product-led growth. By using data-driven marketing to build a product that users love, sustainable web3 companies can build a loyal community and thrive in the long run. The most actionable takeaway is simple: experiment with new approaches rather than blindly following the standard crypto playbook.

FAQs

How can crypto projects improve user retention?

Improving user retention in crypto requires a shift from top-of-funnel acquisition to a focus on the post-acquisition user experience.

This includes gathering direct user feedback to inform product development, offering real utility through tokenomics (like revenue sharing), and providing excellent customer support.

It also requires product analytics that works from offchain to onchain.

What are some data-driven marketing strategies for DeFi?

Data-driven marketing strategies for DeFi include user segmentation based on onchain behavior (like transaction size and frequency), wallet analysis to identify power users, and tracking user journeys to optimize the product funnel. It also involves using targeted content and SEO to attract users who are actively searching for the solutions you provide.

Why is user segmentation important in crypto marketing?

User segmentation is crucial because the crypto space is not a monolith. Users in different ecosystems (like Bitcoin, Ethereum, and Solana) have distinct behaviors, needs, and levels of technical expertise. By segmenting your audience, you can create more effective marketing campaigns and product features that resonate with specific user groups, leading to higher engagement and retention.

• Web3 marketing intelligence links X ad clicks to on-chain swaps, solving the attribution gap that leaves swaps, mints, and staking invisible in Web2 tools.

• Wallet-based tracking replaces cookies with a unified identifier, letting teams measure DAW, MAW, ROAS, and CPA from real wallet actions instead of vanity clicks.

• Formo combines on-chain analytics, wallet intelligence, and unified attribution in one stack, enabling segments like wallets holding $10,000+ ETH used on Aave in 30 days.

For onchain builders and web3 marketers, understanding user acquisition and behavior can feel like navigating a dark forest without a map. Traditional Web2 tools like Google Analytics or Mixpanel only illuminate part of the path, leaving crucial on-chain conversion events like swaps, mints, and staking in the shadows. This data gap makes it incredibly difficult for Web3 marketing teams to measure ROI, optimize strategy, and drive sustainable growth. Key user actions remain invisible, making true performance measurement nearly impossible.

The solution is a new category of Web3 growth analytics: Web3 marketing intelligence. By unifying off-chain and on-chain data, these platforms provide a complete, transparent view of the entire user journey. For the first time, teams can connect a social media click to an on-chain swap and accurately measure the impact of their marketing efforts.

This guide breaks down what Web3 marketing intelligence is, why it’s essential for growth, the key metrics to track, and how platforms like Formo provide the actionable insights needed to build successful onchain apps.

What is Web3 Marketing Intelligence?

Web3 marketing intelligence is the practice of collecting, analyzing, and acting on unified on-chain and off-chain data to optimize marketing strategies and maximize ROI. It goes beyond the limitations of traditional web or mobile analytics to provide a holistic view of user behavior for onchain apps and protocols.

Where Web2 analytics relies on cookies, emails, and server-side tracking, it goes blind the moment a user interacts with a blockchain. Web3 analytics, however, leverages the wallet address as the core user identifier. This allows for the analysis of on-chain behaviors—such as transactions, DeFi positions, token holdings—and connects them to off-chain context like website visits and ad clicks. The result is a richer, more transparent, and privacy-friendly understanding of user activity.

The core challenge this solves is Web3 marketing attribution. Imagine a user clicks a Twitter ad, visits your dApp, connects their wallet, and then makes a swap. A traditional tool sees the click and the site visit, but the on-chain swap is invisible. Web3 marketing intelligence bridges this gap, finally connecting the initial marketing touchpoint to the final on-chain conversion.

How is Web3 Marketing Analytics Different?

Web3 marketing analytics changes the game by providing deeper, more accurate insights. Here’s how it stands apart from traditional analytics:

• Wallets instead of cookies: You can track and engage users by their wallet addresses, not just an email or device ID. This gives you a unified, privacy-friendly view of user actions across different apps and platforms.

• On-chain plus off-chain data: Traditional analytics stops at website clicks and campaign data. Web3 analytics combines this with on-chain events like wallet transactions and smart contract interactions for a full-funnel view.

• True attribution: Finally, you can see exactly which campaign, social post, or airdrop led to a specific wallet or smart contract action, giving you a clear picture of your marketing ROI.

• Web3 user journeys: Users interact with your brand across multiple wallets, dApps, and communities. Web3 analytics maps these scattered touchpoints to provide real engagement insights.

• No reliance on third-party cookies: Blockchain-native analytics doesn’t depend on invasive browser tracking, making it a more compliant and future-proof solution.

With these capabilities, you can build segments, run cohort analyses, and measure ROI based on actual wallet activity, not just vanity metrics like clicks and page views.

Types of Web3 Marketing Analytics

A comprehensive Web3 marketing intelligence platform covers multiple types of analytics to help you drive growth:

• Campaign Analytics: Track the performance of your marketing efforts across channels like social media, email, and paid ads with referrer domains and UTM tags. See which campaigns are driving real on-chain action so you can iterate quickly and improve ROI.

• Web Analytics: Understand how users interact with your website and move through your funnel. Run experiments to boost off-chain conversions like wallet connections and waitlist signups.

• Product Analytics: Analyze how users engage with your dApp or product. Highlight where users are finding value and identify friction points to guide them toward key outcomes.

• Behavioral Analytics: Spot trends based on historical user data, such as transaction history or token holdings. Use this to create targeted segments and personalize experiences that drive engagement.

Key Components of a Web3 Analytics Stack

A robust Web3 analytics stack integrates four critical components to deliver a unified view of your users.

On-Chain Analytics

This involves tracking data directly from the blockchain. It’s the source of truth that reveals what users actually do with your protocol. Examples include:

• Smart contract interactions

• Transaction volume and frequency

• Token transfers and holdings

• Wallet activity (e.g., new vs. returning wallets)

• Users' DeFi positions on other protocols

Off-Chain Analytics

This covers the traditional digital touchpoints that lead users to your dApp. This data shows how users discover your project. Examples include:

• Website traffic sources (UTMs, referrers)

• Social media engagement

• dApp UI interactions before a wallet connection

Wallet Intelligence

This is the process of creating rich web3 user profiles from anonymous wallet addresses. By analyzing a wallet’s holdings, past transaction history, and interactions with other dApps, you can create "onchain personas" like "DeFi Power User," "NFT Collector," or "Bot." This allows for highly targeted marketing and personalization while filtering out low-quality users.

Unified Attribution

Unified attribution is the holy grail that ties everything together. It connects an off-chain action, like a click on an ad, to a specific on-chain conversion, like a token swap. This is what finally allows marketers to measure the true performance of their efforts. Platforms like Formo are purpose-built for this, tracking both Web2 and Web3 events to provide a seamless, end-to-end view of the user journey.

Key Metrics for Web3 Marketing Growth

To drive sustainable growth, you need to track the right metrics across the entire user journey. For example:

Acquisition Metrics

These are top-of-funnel metrics that correspond to the 'awareness' and 'acquisition' stages of the marketing funnel:

• Website Traffic: Total visitors, unique visitors, and page views by source (paid, SEO, direct).

• Social Media Engagement: Reply rate, reach, and follower growth to measure brand awareness.

• Bounce Rate: Percentage of visitors who leave after viewing only one page, which helps identify poor-performing landing pages.

• Cost Per Acquisition (CPA): The cost to acquire a new user who performs a key on-chain action.

• Return On Ad Spend (ROAS): The revenue generated from on-chain transactions for every dollar spent on advertising.

Product Metrics

These are middle-of-funnel and bottom-of-funnel metrics that correspond to the 'activation' and 'monetization' stages of the marketing funnel:

• User Growth: Daily/Weekly/Monthly Active Wallets (DAW/WAU/MAW) to track user activity over time.

• Conversion Rate: The percentage of users who connect their wallet or perform a meaningful action.

• Revenue & Value Metrics: Average Revenue Per User (ARPU), Customer Lifetime Value (LTV), and total transaction volume.

• Retention Metrics: Churn rate and repeat transaction rate, which show whether you are building a sticky product that users love.

Actionable Use Cases for Web3 Marketing Analytics

With unified data, you can move from simple reporting to executing data-driven growth strategies.

• Advanced Segmentation: Go beyond basic demographics. Create powerful segments based on on-chain data, such as targeting all wallets holding >$10,000 in ETH that have used Aave in the last 30 days but haven't used your protocol.

• User Journey Mapping: Visualize the path users take from discovery to conversion. For example, you can identify a high drop-off rate after users connect their wallet but before they make a deposit, indicating friction in your UI that needs to be fixed.

• Wallet-Aware Personalization: Tailor the dApp experience based on a user's on-chain profile. Tailor messaging to users whose wallets show significant onchain activity.

• Ad Optimization: Stop wasting money on channels that don't drive on-chain conversions. Shift your budget from a campaign that drives high website traffic but zero transactions to one with lower traffic but a much higher on-chain conversion rate.

Your Toolkit for Web3 Marketing Intelligence

Choosing the right analytics tools is key to unlocking growth. While a DIY stack using tools like Dune for dashboards and Nansen for wallet labeling can be powerful, it is often complex and resource-intensive to build and maintain.

Purpose-built Web3 marketing intelligence platforms are designed to handle both on-chain and off-chain data, providing a unified solution without needing a dedicated data engineering team.

• Formo: An all-in-one Web3 marketing analytics platform. It allows you to track both on-chain and off-chain data, manage wallets, build funnels, and measure ROI—all without writing code.

• Google Analytics: Still essential for tracking website traffic, landing page performance, and user behavior outside the blockchain ecosystem.

• Other Web3 Tools: Solutions like Cookie3 and Safary also offer marketing analytics, each with different focuses and capabilities.

The most effective strategy often involves pairing a Web3-first solution like Formo with proven Web2 tools like Google Analytics. This gives you the comprehensive data you need to grow faster.

Light up the Dark Forest

Web3 marketing requires a new playbook. Success is no longer about fragmented Web2 tools and vanity metrics; it’s about embracing a unified analytics approach that provides a clear, complete picture of the user journey. By integrating on-chain and off-chain data, your team can finally get a transparent view of Web3 marketing ROI, optimize spend, and build products that users genuinely value.

Stop building in the dark. Explore a purpose-built Web3 marketing intelligence platform like Formo to see how actionable data can accelerate your onchain growth.

Read more:

• Mastering Web3 Marketing Attribution Analytics: A Complete Guide

• The Beginner’s Guide to Data-Driven Web3 Marketing

• 10 Best Web3 Community Tools to boost engagement

Follow Formo on LinkedIn and X for more onchain growth insights!

FAQs

What is Web3 marketing intelligence?

Web3 marketing intelligence is an analytics approach that unifies on-chain data (like transactions and wallet activity) with off-chain data (like website visits and ad clicks) to provide a complete view of the user journey and measure marketing ROI accurately.

How is Web3 analytics different from Google Analytics?

Google Analytics primarily tracks off-chain website and app interactions. It cannot see on-chain activities like swaps, staking, or NFT mints. Web3 analytics connects both off-chain and on-chain data, using the wallet address as a unified identifier to provide a full-funnel view.

What are the most important Web3 marketing KPIs to track?

Key KPIs include on-chain conversion rate, Cost Per Acquisition (CPA) for on-chain events, Customer Lifetime Value (LTV), Daily/Monthly Active Wallets (DAW/MAW), and retention rate based on repeat on-chain interactions.

Can I track ROI from my Twitter campaigns to on-chain swaps?

Yes. With a Web3 marketing intelligence platform like Formo, you can use attribution tracking (like UTMs) to connect a user who clicks on your Twitter campaign to their subsequent on-chain activities, including swaps. This allows you to measure the direct ROI of your social media efforts.

What is wallet intelligence?

Wallet intelligence is the process of analyzing a wallet's transaction history, token holdings, and interactions with other dApps to create a detailed user profile or "onchain persona." This helps marketers understand user behavior and create highly targeted segments.

How can I segment users in Web3 without personal data?

You can segment users based on their on-chain behavior. For example, you can create segments for "DeFi Power Users" (wallets with high transaction volume on DEXs), "NFT Collectors" (wallets holding specific NFT collections), or "New Users" (wallets that interacted with your protocol for the first time).

What are the best Web3 growth tools for marketing teams?

All-in-one platforms like Formo are powerful because they unify product, web, and on-chain analytics. Other useful tools include Dune for custom dashboards, Nansen for wallet labeling, and Google Analytics for traditional web traffic analysis.

Is it possible to do Web3 marketing analytics while respecting user privacy?

Yes. Web3 analytics is inherently more privacy-friendly than many Web2 methods because it focuses on pseudonymous wallet addresses instead of personal data like emails or phone numbers. Platforms like Formo are built with privacy in mind and do not use third-party cookies or invasive tracking.

• Web3 marketing is built on decentralization, transparency, and user empowerment.

• Key strategies include community building, SEO, airdrops, bounty programs, and video marketing.

• Leveraging blockchain and tokenization opens up new engagement and monetization models.

• Platforms like Third Academy, Safary Club, and Udemy offer beginner-to-advanced courses in Web3 marketing.

Web3 technology is fundamentally changing the landscape of digital marketing, ushering in a new era of user-owned experiences. This blog post aims to clarify what a Web3 marketing strategy entails and provide a more granular roadmap for creating and executing effective campaigns. Let's dive into the details.

What is Web3 Marketing Strategy?

A web3 marketing strategy is a comprehensive plan that integrates blockchain, decentralized applications (dApps), and non-fungible tokens (NFTs) to achieve marketing goals. Web3 marketing involves leveraging various online tactics and web3 marketing tools to reach the target audience, drive traffic, generate leads, and ultimately increase sales.

A Web3 marketing strategy leverages decentralization, transparency, and user empowerment to foster a sense of community and prioritize user control, data ownership, and trust.

4 Key Concepts of Web3 Marketing

Key concepts of Web3 Marketing include Decentralization, blockchain technology, tokenization, and user empowerment. Let’s dive in:

Decentralization

Unlike traditional marketing models, where intermediaries have significant control, Web3 facilitates direct peer-to-peer interactions. This decentralization minimizes the risk of data manipulation and fosters trust between brands and consumers.

Blockchain technology

The foundation of cryptocurrencies ensures robust data integrity, airtight security, and unwavering transparency. Smart contracts executed on blockchain platforms automate and streamline marketing processes, reducing reliance on intermediaries and increasing efficiency.

Tokenization

Web3 introduces the concept of tokenization, where assets and even user attention are represented as digital tokens. This enables new monetization models such as microtransactions and token-based incentives, giving users a tangible stake in the success of the platforms they engage with.

User Empowerment

Web3 marketing strongly emphasizes user empowerment by giving individuals more control over their data and online experiences. This strategic shift aligns marketing initiatives more closely with user preferences, fostering a more personalized, authentic experience.

10 Best Web3 Marketing Strategies

Here are the top 10 strategies to implement for effective Web3 marketing:

Top 10 best practices for Web3 marketing strategies

1. Community Building

Community building in Web3 marketing strategy involves uniting Web3 enthusiasts through social media groups, newsletters, and digital events to share insights and trends. Engagement on Web3 platforms increases brand visibility and fosters relationships within the industry. Leveraging these communities can serve as a referral channel and cultivate a loyal customer base. To effectively market your brand:

• Identify relevant channels: Identify key Web3 platforms and forums where your target audience is active. Use these platforms to learn and gain insights into Web3 marketing.

• Active participation: Engage with community members through educational discussions, valuable content, product promotions, and exclusive access.

• Build Trust: Offer community members incentives such as freebies and branded rewards to build loyalty.

• Host Engaging Events: Host webinars, workshops, contests, and challenges to bring the community together and build relationships with industry experts.

• Encourage feedback: Conduct polls, surveys to increase brand engagement and awareness.

2. Optimize Your Site for Search Engines (SEO)

Search Engine Optimization (SEO) is critical to long-term success. It involves a concerted effort to rank your website highly in search engines, drive organic traffic, and increase online visibility. Here are some of the most effective SEO strategies to implement:

• Content creation: Produce high-quality content that is relevant to users, including educational blogs, news, trends, tutorials, and tools. Use targeted keywords throughout content, titles, and descriptions.

• Keyword identification: Identify and target relevant keywords that match user search intent. Use them intelligently to ensure visibility.

• Page optimization: Optimize titles, descriptions, and headings to make your site relevant to crawlers.

• Collaboration: Partner with blockchain experts, influencers, and bloggers to earn quality backlinks and build authority.

• Site Speed: Ensure a seamless site speed by compressing images and videos, using

3. Use Social Media Marketing

Social media is a powerful tool for web3 marketing strategy, enabling brands to connect with their target audience, build trust, and cultivate a loyal following. To improve your social media strategy, consider the following:

• Create content: Offer educational content in various formats such as infographics, videos, and reels to explain topics related to Web3, DeFi, and tokens.

• Collaborations: Partner with Web3 influencers, brands, NFT marketplaces, and decentralized exchanges to create engaging content, giveaways, Q&As, live sessions, and webinars.

• User-generated content: Encourage and reward user-generated content to increase reach and leverage cost-effective marketing methods. Incentivize with native tokens, NFTs, or currencies.

• Omnichannel Communications: Provide seamless communication channels for audiences to address brand-related issues.

4. Run PPC Advertising

PPC advertising is a highly effective and cost-efficient Web3 marketing strategy that allows you to pay only for clicks on your ads. To maximize ROI and effectively generate leads:

• Set clear goals: Define ad objectives based on user intent, whether it's conversions, traffic, or brand awareness.

• Keyword Research: Conduct thorough Web3-related keyword research to optimize ad targeting.

• Compelling Ad Design: Create visually appealing ad copy with strong CTAs that highlight the unique selling points of your tokens.

• Platform Selection: Choose the right PPC platforms, such as Facebook, Instagram, Twitter, or Google to promote your Web3 products.

• Monitor and Optimize: Track and optimize your PPC campaigns using metrics such as conversions, ROAS, CTRs, and CPC to improve performance.

• A/B Testing: Conduct A/B testing to understand audience preferences by testing different ad copy.

• Retargeting: Implement retargeting campaigns to connect with audiences who have interacted with your Web3 brand for increased conversion opportunities.

5. Leverage Influencer Marketing

Working with influencers is critical to promoting a Web3 brand and building credibility, especially with a skeptical audience. Reach out to selected influencers and highlight how promoting your Web3 product can be mutually beneficial. Work with influencers to produce engaging content such as live streams, videos, podcasts, and vlogs to drive audience engagement and traffic to your distributed assets.

6. Start Airdrop Campaign

Airdrop campaigns are essential for distributing decentralized assets and tokens to drive awareness and engagement in blockchain adoption. To execute a successful airdrop campaign, you should:

• Define objectives: Clearly outline campaign objectives, allocate a budget, and select tokens to distribute.

• Choose Distribution Channel: Select a reward channel such as smart contracts, DEX, or digital wallets, and specify participation and winning conditions in the campaign details.

• Leverage Social Networks: Leverage social platforms to promote airdrop campaigns and increase visibility.

• Engage participants: Follow up with participants regularly to nurture relationships, address concerns, and maintain engagement levels.

7. Start Bounty Campaign

Bounty campaigns are a powerful Web3 marketing strategy that rewards stakeholders with digital tokens for performing specific actions such as social media promotion, content creation, bug reporting, and community management. To run a successful bounty campaign:

• Define expectations: Identify the tasks you want participants to complete and the corresponding incentives in the form of decentralized assets.

• Allocate resources: Set a budget and determine the number of tokens to distribute as rewards.

• Choose Platforms: Decide where the bounty campaign will run and clearly state the terms, conditions, and instructions for participation.

• Maintain communication: Stay in touch with participants to address their questions and issues related to the project and campaign.

• Ensure transparency: Distribute rewards as promised and be transparent about the distribution methods.

• Encourage sharing: Incentivize participants to share their progress on social platforms such as Telegram, Instagram, and Discord to encourage community building and word-of-mouth marketing.

• Measure success: Evaluate campaign performance through participant feedback, ratings, submission volume, and quality to gain insights and improve future efforts.

8. Use Video Marketing

Video advertising has emerged as a highly effective Web3 marketing strategy for showcasing Web3 products and services. Here are some effective tips:

• Use different formats: Experiment with explainer videos, demos, tutorials, interviews, and testimonials to effectively engage your audience.

• Educational content: Include educational elements to simplify complex semantic web concepts for better audience understanding.

• Storytelling Approach: Use storytelling with real-life examples to explain concepts and increase audience engagement.

• Collaboration: Partner with industry leaders and influencers to add credibility and refine your videos.

• Optimization and Sharing: Ensure videos are optimized and shareable across Web3 channels such as websites, social media, and community platforms.

• Engagement: Engage in 1-on-1 conversations with viewers who comment and rate your videos to increase engagement.

• Performance measurement: Track video performance using metrics such as views, comments, likes, and shares to measure effectiveness and make data-driven improvements.

9. Use Email Marketing

Email marketing is a basic strategy for enhancing a Web3 brand's public image, building a loyal customer base, and fostering direct communication. To boost your email marketing effectively:

• Curate your email list: Collect contacts from users who have shown interest in your distributed assets and segment them based on preferences.

• Create compelling content: Create email copy that showcases your digital assets and incorporates techniques such as early access to airdrops or loyalty rewards.

10. Content Marketing

Content plays an important role in the success of  Web3 brands, enabling them to establish authority, build trust with their audience, and foster engagement. To create effective content that resonates with the target audiences:

• Understand your audience: Research terms, concepts, and needs related to the evolving Internet to create content that resonates with Web3 enthusiasts.

• Educational Approach: Offer simple, informative content about the benefits, practicality, and scope of decentralization through blog posts, videos, webinars, and podcasts.

• Storytelling: Include case studies, testimonials, and expert interviews to keep the Web3 community engaged and informed.

• Community Engagement: Initiate conversations, answer questions, and share insights to foster community building.

• Experimentation: Incorporate gamification, AR ads, and virtual experiences with tokenized rewards to promote your product and service while keeping your audience engaged.

Best Web3 Marketing Tools

Web3 growth is about understanding your users, engaging them where they are, and tracking what works onchain.

Whether you're a marketer, builder, or community manager, here’s your go-to stack of Web3 marketing tools built to help you attract, activate, and retain the right users:

Web3 Analytics & Attribution

Understand wallet behavior, track conversion paths, and measure campaign ROI. Tools like Formo, Dune, and Spindl let you analyze both offchain and onchain user journeys.

Campaign & Growth Tools

Run quests, airdrops, and loyalty programs that drive action. Platforms like Galxe, Layer3, and Zealy help you launch gamified campaigns that reward users for meaningful contributions, not just clicks.

Ad Targeting & Retargeting

Run Web2 and Web3 marketing ads across channels. Solutions like Addressable and HypeLab empower you to retarget users based on wallet behavior.

Reshape your Web3 marketing strategy with Formo

Formo’s Web3 analytics enable product and marketing teams to enhance their Web3 marketing workflows using offchain and onchain data. With actionable insights, Web3 marketers can segment their audiences, deliver highly personalized campaigns, and drive growth.

A robust Web3 Marketing strategy is critical for Web3 brands to thrive in the blockchain landscape, enabling authentic audience connections through decentralization, blockchain, and user empowerment. By leveraging Web3's expertise, project teams can develop innovative marketing strategies that redefine user engagement and position themselves for success in the Web3 ecosystem.

Follow us on LinkedIn and X, and join our community for more onchain growth insights.

Learn more:

• Mastering Web3 Marketing Attribution Analytics: A Complete Guide

• The Beginner’s Guide to Data-Driven Web3 Marketing

• 10 Best Web3 Community Tools to boost engagement

FAQs

1. What industries can benefit most from Web3 marketing strategies?

Gaming, finance, digital art (NFTs), education, and e-commerce benefit the most due to their alignment with decentralization and community-driven growth.

2. How is ROI measured in Web3 marketing compared to Web2?

In Web3, ROI can be tracked not just through conversions but also through onchain metrics such as wallet activity, token engagement, and smart contract interactions.

3. Are there compliance issues to consider in Web3 marketing?

Yes. Web3 marketers must be aware of evolving regulations around crypto promotions, data privacy, and airdrop eligibility to avoid legal risks.

4. How can I build trust with a Web3 audience?

Transparency, active community participation, open-source development, and visible smart contract audits are key to building credibility with Web3 users.

5. What Web3-native tools should marketers explore?

Tools like Formo, Galxe, Rally, Lens Protocol, and Mirror provide onchain engagement, analytics, and creator monetization features tailored for Web3 campaigns.

gm, builders! 👋 Here’s your roundup of this week’s onchain insights.

Highlights:

• Lifecycle Settings

• At-Risk Lifecycle

• x402 + MPP for Profiles API

• Unique Visitors

• Reading List

Lifecycle Settings

Lifecycle thresholds are now configurable per project from your project settings page.

Defaults like “Power user = 5 active days in last 30 days” don’t fit every product, so you can now tune the windows for New, Returning, Power user, At Risk, Churned, and Resurrected lifecycles to match how your team defines engagement.

New At Risk Lifecycle Stage

You can now see a new At Risk lifecycle stage that flags previously engaged users whose activity has slowed but who haven’t fully churned yet.

At Risk is the right lifecycle to retain them with an intervention campaign before they’re gone for good, and it surfaces consistently across the Users page, Lifecycle reports, and wallet profile labels.

x402 + MPP for Profiles API

The Profiles API is now reachable by AI agents over two onchain payment standards: x402 (Base) and MPP (Tempo). Agents pay 0.05 USDC per request with no API key required.

This unlocks pay-per-call agent access to wallet enrichment for builders shipping autonomous AI experiences.

Unique Visitors

Formo now tracks Unique Visitors, equivalent to GA’s Active Users. Unique Visitors counts distinct anonymous_ids over the selected period, deduplicating across sessions and days.

This gives you a clean top-of-funnel KPIs alongside wallets, transactions, and revenue, and a like-for-like comparison with the visitor metric most teams already report from web analytics.

Learn more

Reading List

• A year inside agentic payments: the uncomfortable truth by Jessy. Link

• The tokenization boom in 7 charts by a16zcrypto. Link

• State Of Token Markets by Delphi Consulting, Neel, Ashwath Balakrishnan. Link

• 3 product-market fit patterns working right now by a16zcrypto. Link

gm, builders! 👋 Here’s your roundup of this week's onchain insights.

Highlights:

• Behavior Filters Based on First-Seen

• Transaction Frequency Chart

• Query Parameter Redaction

• Sticky Referrer Tracking

• Reading List

Behavior Filters Based on First-Seen

Behavior filters now support First-seen relative time windows to make targeting much more precise.

Until now, behavior filters were limited to rolling windows ("did X in the last N days").

You can now anchor windows to each user's first-seen timestamp, so you can ask questions like:

• Users who visited the Trading Competition page within 2 hours of their first session (attribute engagement directly to the campaign that brought them in).

• Users who connected a wallet, deposited, and clicked "Enroll" within their first 24 hours (first-day activation funnel).

• Users who came back to transact more than 7 days after first-seen (true returning users vs. same-session conversions).

Together these mean better attribution to specific campaigns, sharper onboarding activation analysis, and more targeted segments.

Transaction Frequency Chart

A new transaction frequency chart on the Users page show you how often your users transact.

View the distribution of transaction counts per wallet to distinguish one-time users from power users, spot drop-off between first and second transactions, and target wallets by activity tier.

Query Parameter Redaction

You can now strip sensitive query parameters before events are stored or sent.

Pass a list of query parameter names and the SDK redacts matching keys (case-insensitive) from event properties.

Sticky Referrer Tracking

The Web SDK now keeps first-touch referrer sticky across an entire session, so internal navigation no longer overwrites the source that brought a user in.

This means cleaner channel reports, more accurate first-touch attribution, and no more "self-referral" noise from internal page-to-page navigation.

Learn more

Reading List

• The RWA Stack: Why Tokenization Starts With Boring Finance by ether.fi Ventures. Link

• Who Makes Money from Agents? by Jonah Burian. Link

• From Speculation to Habit: What Web3 Apps Can Learn From Fintech Retention by Stacy Muur. Link

gm, builders! 👋 Here’s your roundup of this week’s onchain insights.

Highlights:

• Filter by Page

• Angular SDK support

• Crossmint and OpenFort examples

• Reading List

Filter by Page across Analytics

You can view the performance of specific pages with the new Page filter. The Overview and Activity pages now support filtering by Page, such as specific vault or campaign page.

You can also click any row in the Top Pages chart to apply the page filter inline, the same way segments work elsewhere in the dashboard.

Angular SDK support

The Web SDK now supports Angular. A working Angular example is also available.

Non-React frameworks (Angular, Vue, Svelte, vanilla JS) can now import from @formo/analytics/core without React types. React and Next.js apps continue to work as before.

See the with-angular example and the Angular docs for more details.

Crossmint and OpenFort examples

The examples repo now includes end-to-end integrations for Crossmint embedded wallets and OpenFort smart wallets.

• Crossmint is a platform for companies and agents to integrate stablecoin rails — including wallets, onramps, stablecoin orchestration & more.

• OpenFort is the wallet stack for agentic and stablecoin payments —one open-source SDK instead of five vendors.

Learn more

Reading List

• The Things That Don’t Exist Yet by Spencer Bogart. Link

• Why Most KOL Campaigns Fail — and Why KOLs Are Not to Blame by Stacy Muur (Green Dots Research). Link

• You Can’t Charge Fees on Stablecoins by Jonah Burian. Link

• What Web3 Neobanks Teach Us About Consumer GTM by Stacy Muur (Green Dots Research). Link

• The Machinery of Modern Finance by Brandon Kumar (Diversions). Link

gm, builders! 👋 Here’s your roundup of this week’s onchain insights.

Highlights:

• OAuth on Formo MCP

• Segments on Funnels

• Event Exclusions in Flow Charts

• Reading List

OAuth on Formo MCP

The Formo MCP server now supports OAuth, so you can add it as a remote MCP connector in Claude, ChatGPT, Cursor, and other clients. Connect your Formo account with the tools you already use.

Segments on Funnels

You can now filter Funnels by any saved segment, the same way you can on the Users and Activity pages.

Pick a segment from the chart controls and the entire funnel recomputes against that cohort, so you can compare conversion across audiences without duplicating charts.

Event Exclusions in Flow Charts

Flow charts (user paths) now support an event exclusion filter. Pick events to leave out of the path entirely and the chart reflows around only the events you care about.

This is the fastest way to clean up noisy flows without changing what you instrument.

Learn more

Reading List

• The long game for crypto by Chris Dixon. Link

• When Crypto Enters Daily Life: The Rise of Consumer Crypto by Firefly. Link

• Four Business Models in Stablecoins by Jonah Burian. Link

• Retention as an Investment Thesis: Top DeFi Protocols Reviewed by Stacy Muur. Link

• From Speculation to Habit: What Web3 Apps Can Learn From Fintech Retention by Stacy Muur (Green Dots). Link

gm, builders! 👋 Here’s your roundup of this week’s onchain insights.

Highlights:

• Performance improvements

• Last-touch attribution for funnels

• Funnel and Flow public API endpoints

• Reading List

Performance improvements

We’ve completed significant performance improvements across the platform, including:

• Wallets

• Transactions

• Top pages

• Top sources

• Funnels

• Flow charts.

Learn more

Last-touch attribution for funnels

Funnels now support last-touch attribution as a first-class breakdown option, letting you credit the most recent source, campaign, or referrer before a user converted.

This complements first-touch attribution and gives growth and marketing teams a clearer view of which channels are actually driving conversion at the moment of action, rather than only the channel that introduced the user.

Open any existing funnel and toggle the attribution type to last-touch to see how your numbers shift. Learn more in the Funnels documentation.

Learn more

Funnel and Flow public API endpoints

Funnels and Flows are now available through the public Query API, so you can pull conversion and user-journey data programmatically into dashboards, notebooks, and downstream systems.

The OpenAPI spec has been updated alongside the new endpoints, making it easy to generate clients and explore the schema. If you build internal tooling on top of Formo, point your scripts and integrations at the new endpoints.

See the API overview for more.

Learn more

Reading List

• Noncustodiality Is Not a Philosophical Question. It’s a Security One by Merlin Egalite. Link

• Collapsing DeFi’s Risk Premium by Leuts.eth. Link

• We raised a $2.2B crypto fund by Chris Dixon (az16crypto). Link Link

• When Abstract Becomes Concrete by Spencer Bogart. Link

gm, builders! 👋 Here’s your roundup of this week’s onchain insights.

Highlights:

• AI SQL Helpers

• Ask AI Follow-up Questions

• Funnels Compare Mode

• Area Chart

• Global Search

• Profile Side Panel

• Analytics API

• Reading List

AI SQL helpers

Three new AI helpers now sit next to the SQL editor on both the Explorer page and the create/edit chart page

• Generate SQL turns a plain-English prompt into a query against your project’s schema.

• Format SQL cleans up an existing query in place.

• Explain this Query describes what a SQL block does in plain English so you don’t have to read someone else’s CTEs to understand a chart.

Learn more

Ask AI Follow-up Questions

Every Ask AI response now ends with suggested follow-up questions you can click to keep digging.

The suggestions are generated from the conversation so far and the project’s saved charts, events, and segments, so they stay relevant to the data you’re actually looking at instead of pulling you off-topic.

Learn more

Funnels Compare Mode

The funnel chart now has a Compare mode toggle in its date controls, mirroring the one on the overview page, so you can put two date ranges side by side.

Each step now also shows the median time to convert from the previous step, so you can see where users stall, not just where they drop.

Learn more

Area Charts

You can now create Area Charts.

Area charts support stacking out of the box. It’s available alongside Line, Bar, Number, and the other existing chart types.

Learn more

Global Search

Hit Cmd+K (or Ctrl+K) anywhere in the app to open a command palette. Jump to key pages, custom boards, segments, past chats, and settings even more quickly.

If your query does not match a known action, ask the question directly to Ask AI.

Learn more

Profile Side Panel

On the Users page, clicking a user now opens its profile in a side panel instead of a full page load.

The side panel keeps your filtered list visible so you can scan a cohort and dip into individual wallets without losing context. A link to the standalone profile page is still there when you want the full surface.

Learn more

Analytics API

The Analytics API is now live, with 18 public endpoints that expose the same backed data that powers every chart on the Formo dashboard. Use this to build internal tooling and dashboards with Formo data.

Learn more

Reading List

• Stablecoins are going local by Robert Hackett and Jeremy Zhang (a16zcrypto). Link

• Where I’m spending time in crypto right now by PMAYR. Link

• The New PMF Playbook: Three Patterns Working in Crypto Right Now by Jason Rosenthal. Link

• State of Onchain Credit by Patryk. Link

gm, builders! 👋 Here’s your roundup of this week’s onchain insights.

Highlights:

• User Properties and Labels

• Workspace Audit Log

• Improved Wallet Search

• Reading List

User Properties and Labels

You can now add first-party user properties and custom user labels for wallet profiles, on the dashboard and the API.

Set a custom display name, email, socials, avatar, location, and other identity fields on a wallet profile. Tag wallets with custom labels (VIP tier, KYC status, etc).

With first-party data alongside the web, product, and onchain data Formo already collects, you can now use Formo as the single source of truth for your DeFi app. No more manually stitching together a separate CRM, analytics tool, and internal database.

Learn more

Workspace Audit Log

Workspaces now record an Audit Log of who did what: invites, role changes, project updates, billing changes, and other key actions.

Learn more

Improved Wallet Search

You can now search wallets from social profiles on the Users page and Profile Search API . Search based on a partial address, ENS name, Twitter handle, or any social identifier and Formo will find the matching wallet profile.

Learn more

Reading List

• The Capital Suck by Jonah Burian. Link

• Vertically Integrated Capital Aggregators by DCo. Link

• How @SkyEcosystem Built the Most Resilient Stablecoin in DeFi with @RuneKek by The Rollup. Link

• Everything is Market by Jesse Walden. Link

• The missing infrastructure for AI agents: 5 ways blockchains can help by a16z crypto. Link

• Collapsing DeFi’s Risk Premium by Leuts.eth. Link