Sovryn user metrics

[light]

Continuing the discussion from SOV subsidies for stakers:

@dseroy

On the call we referenced “data” and “statistics” that can inform our decision making. What exactly does that mean and when will it be ready? As simple hobbyist data analyst, I’d love to explore and see if I can contribute on this front. However, I have no idea how to get setup extracting data from RSK and Sovryn nodes. Is this something that can be made available or we could get assistance on? I just need to be able to get the data in a work-able format then we can toy around with it and see what if anything we can extract. I’m hoping this is something reasonably simple, but IDK?

I think some base-line metrics like Cost of Customer Acquisition (“CAC”) and Customer Lifetime Value (“LTV”) would allow us to create dynamic measurements that show how much revenue we get from each customer, which products and services people demand and then mostly importantly how much was our cost to get that customer?

Then we can use that to inform how much SOV from the adoption fund should be allocated and to which type of marketing campaigns. This is what will lead to higher staking rewards and justifiable token value.

For the stage we’re in today (pre-product-market-fit) I think the more relevant customer-focused metrics are things like our conversion rate (measuring how leaky our marketing/onboarding funnel is), cohort retention rate, net promoter score, and customer attachment score.

Once Sovryn achieves product-market-fit then metrics like CAC and CLV will be more relevant and reliable. Without product-market-fit, any numbers we have about CAC or CLV are highly likely to change because it’s highly likely our market, customer profile, and acquisition channels will change.

Regarding the question about what data we need and when will it be ready, for the staking subsidies discussion I think metrics like staking participation rates and historical rewards data are most relevant. For customer-focused data, there are onchain metrics we can look at like TVL, volume, profitability, etc, and there are off-chain metrics like website visits, search data, etc. I’m not sure if anyone is collecting this data and if so, who. I know there are some folks working to make more onchain data public, but I’m not sure about the offchain data. Perhaps someone who is more in the loop about ongoing data analysis efforts in the community can jump in here.