[Pre-AIP] Alchemix Analytics Alerts

alchemixanalytics

Title: Proposal for Alchemix Development (Analytics)

Date Created: 14/06/23

Date Posted: 14/06/23

SUMMARY:

This proposal aims to develop Alchemix Analytics, a comprehensive system that provides real-time analytics, reporting, and insights for the Alchemix community. The project will empower Alchemix users by delivering key metrics, market trends, governance updates, and other important information. It seeks to improve analytics strategies and foster deeper engagement within the Alchemix community.

BACKGROUND:

This proposal addresses the growing need for reliable and accessible analytics and reporting tools in the expanding Alchemix ecosystem. By providing valuable data and insights, the project aims to attract new users and increase community engagement.

While the current statistics provide valuable information for Alchemix users within the platform, our system offers a unique approach to engage and market to users outside of the Alchemix community. By providing the statistics directly on various platforms, we can reach a wider audience and potentially attract new users who may not be familiar with Alchemix. This differentiates our solution from the data displayed on dashboards, as it focuses on expanding the user base and increasing engagement beyond the existing community.

MISSION :

The Alchemix Analytics project aligns with the mission of Alchemix to create a decentralized and transparent ecosystem. By promoting transparency, empowering users, and fostering active participation, it strengthens the Alchemix community and supports its core values.

You can see what a simplified version of the system looks like on this link (https://twitter.com/VelodromeAlerts).

SCOPE OF WORK:

Develop a real-time analytics system that covers key metrics, market trends, and governance updates.
Implement data collection and processing components, integrating with Alchemix.
Build an intuitive interface with visualizations to present the analytics and insights effectively.
Conduct rigorous testing to ensure accuracy and reliability of the analytics system.
Deploy the Alchemix Analytics system and gather user feedback for continuous improvements.

** TECHNICAL SPECIFICATION:**

The Alchemix Analytics system will be developed using Python for backend development and Vue JS/Typescript for frontend implementation. It will leverage smart contract data, governance information, transaction history, and other relevant metrics to generate meaningful reports and visualizations.

The team will consist of experienced developers skilled in Python and Vue JS/Typescript.

FINANCIAL IMPLICATIONS:

We request a grant of 6000 USDT (equivalent in $ALCX) to cover the following expenses:

Developer compensation for the squad members involved in the project.
Server and hosting costs for deploying and maintaining the analytics system.
Ongoing maintenance and support to ensure the system’s continuous operation and improvements.

SUCCESS METRICS OR KPIS:

The success of the project will be measured by:

User engagement metrics, such as the number of active users and interactions with the analytics system.
Adoption rate of the Alchemix Analytics system among community members.
Positive user feedback and satisfaction with the system’s functionality and insights.

Our team, @alchemixanalytics, is a group of experienced developers who have a strong background in deploying protocols and participating in hackathons. We have a deep understanding of the DeFi space and are committed to providing valuable analytics to the Alchemix community through the Alchemix Analytics.

VOTING TEMPLATE

As a member of the Alchemix community, I cast my vote on the proposal to develop Alchemix Analytics, a comprehensive system that provides real-time analytics, reporting, and insights for the Alchemix community.

The voting system is as follows:

FOR: I authorize the development of Alchemix Analytics as outlined in the proposal.
AGAINST: I do not authorize the development of Alchemix Analytics as outlined in the proposal.

Please cast your vote by selecting either "FOR" or "AGAINST" and submitting your response.

Have a nice day!

ov3rkoalafied

Hello,
We currently have alchemix-stats.com which serves many analytics purposes. We also have a dashboard by alphaday in progress that serves to aggregates news/proposals/etc, as well as an alchemix newsletter.

Instead of building a whole new website, I would rather see you identify things that alchemix-stats.com is missing and where you might be able to add to it and build into it. @barree and @IMIMIM would be the best people to talk to about that.

alchemixanalytics

Hi ov3rkoalafied, thank you for the feedback! The Alchemix current tools does provide interesting analytics, but only protocol users will look into it, which is why our goal goes beyond just displaying data.

We aim to bring more users to the protocol by providing engaging analytics through real-time alerts. Our strategy involves leveraging social media platforms like Twitter to reach a wider audience and attract new users who may not be familiar with the protocol. We believe that combining data visualization with active engagement and marketing strategies will create a more interactive experience, ultimately driving adoption and community growth!

I will reach out, thank you for the intro. 🙂

IMIMIM

alchemixanalytics

If I may ask a few questions, please. What analytics do you have to show that your alerts drive new user engagement? This is an area that we're interested in exploring, but there must be demonstrable and replicable data. Also, do you have data on the types of users that your alerts drive and engage? How would their activity be tracked? If the idea is to drive user engagement, then the idea is to drive new user deposits, right?

Then to break even, by my quick math, users would need to deposit enough ETH to drive ₃₃ ETH worth of harvests at today's prices (Alchemix takes 10% of the harvest fee, and that's how the cost would be recouped). And let's just assume 4% APR. To make up the cost in a year, that means that new users would have to deposit ₈₂₅ ETH at today's prices in order for this cost to break even. And this is assuming that there are no ongoing costs. I understand that nobody can guarantee results, but what kind of data do you have to demonstrate that there's a decent probability of your service at least paying for itself?

Aside from simply pulling values from different APIs and plotting them on charts, what actual analytics would you offer? I would argue that alerts aren't analytics; they're alerts. If you have any data that you'd be comfortable sharing, perhaps some redacted analysis from another client or something, I'd be very curious to take a look.