Abstract
Artemis, a data provider trusted by top investors like Pantera, Dragonfly, Grayscale, VanEck, Coinfund, and Franklin Templeton, proposes to build open-source dashboards for the Celo ecosystem. These dashboards will highlight stablecoin and dapp activity, and showcase Celo’s recent growth. Our institutional-grade data aids major investors in key decisions, and these public goods will improve Celo’s transparency and visibility with institutional investors–allowing for potential future investments in the ecosystem.
We are seeking funding in cUSD or CELO to support the development and operation of two key tools for one year:
- Application Activity Monitor: Track dapp usage over time on Celo and discover trending applications in the Celo ecosystem. Explore the Activity Monitor here.
- Stablecoin Dashboard for the Celo Foundation + Celo Community: Provide comprehensive tracking and analysis of stablecoin activities on the Celo platform. Some dashboards for Celo Foundation will be private for now as requested by Celo Foundation.
Ultimately, these dashboards will also empower the Celo community with valuable insights and drive informed decision-making such as usage of various stables, efficacy of incentive programs.
About Artemis
- Artemis is an institutional-grade data provider, specializing in serving respected investors in the crypto space, including Pantera, Dragonfly, Grayscale, VanEck, Coinfund, and Franklin Templeton.
- We collaborate closely with top blockchains and developers such as Solana, Consensys, Near, and Avalanche to offer reliable data for wallet analysis, application usage analysis, grant efficacy analysis, and stablecoin tracking.
- Our data is open source and all dashboards are built as public goods, freely accessible to everyone. You can explore our open-source data here.
- Artemis builds closely with every ecosystem to ensure that the data we represent is fair, accurate, and transparent.
Deliverables
Application Activity Monitor (timeline: 1.5 months after proposal passes)
- 2 weeks: Work with Celo foundation on tagging all relevant contracts
- 2-3 weeks: [Backend engineering] Build data pipelines and materialize tables
- 1 week: [Frontend engineering] Build and add dashboard to frontend
- 1 week: QA data and beta test
Stablecoin Dashboards (timeline: 2 months after proposal passes)
- 1 week: Work with Celo Foundation to identify all relevant stable addresses
- 1-2 weeks: Design new dashboards
- 2-3 weeks: [Backend engineering] Build data pipelines and materialize tables
- 1 week: [Frontend engineering] Build and add dashboard to frontend
- 1 week: QA data and beta test
Protocol Highlight (timeline: 1 week after proposal passes)
- Regularly published insights and analyses of key protocols within the Celo ecosystem. Example: Protocol Highlight: Open Network (TON). These highlights will showcase promising projects and innovations, helping to raise awareness and attract attention to the Celo ecosystem.
Ongoing Maintenance and Support
- Continuous updates to the dashboards to add new stablecoins and improve user experience.
- Dedicated support to address any issues and ensure the tools meet the evolving needs of the Celo community.
Motivation
Application Activity Monitor
The Application Activity dashboard enables investors, protocol developers, and community members to monitor the usage of protocols and dapps on the Celo blockchain. For example, users can track the number of Daily Active Users (DAUs) for Valora on-chain. This provides critical insights into the functionality and engagement within the Celo ecosystem.
Additionally, this tool helps viewers understand the primary use cases of the chain. For instance Base is increasingly used for DeFi over the past year as you can see below:
Whereas something like Tron is primarily used for p2p transfers as shown below:
This understanding is crucial for any blockchain as it allows foundations and builders to align their efforts with the community’s long-term goals. For Celo, being a chain focused on real-world usage, it is essential to see RWAs (Real World Assets) and stablecoins proliferate the main use cases. Furthermore, this dashboard facilitates benchmarking Celo against other ecosystems.
Investors highly value the Activity Monitor as it provides a comprehensive view of the applications on the chain and their usage metrics. This is a critical component of a token investor’s due diligence process. Without this data, investors may lack the confidence to invest in a particular token, potentially hindering the ecosystem’s growth due to unclear usage patterns. For example, Franklin Templeton uses the Activity Monitor to evaluate the usage of Base and Friend.tech on Base.
The App Activity Monitor can be thought of as a more in-depth Dapp Radar specifically built for institutional investors and power users. Artemis will offer it for free on app.artemis.xyz as a public good for Celo and the crypto ecosystem.
Stablecoin Dashboard
Widespread adoption of stablecoins is crucial to Celo’s mission of prosperity for all, making it essential to track and analyze stablecoin performance both on Celo and benchmark against other ecosystems.
Given the critical role of stablecoins in Celo’s future, Artemis, in collaboration with Celo Foundation’s Michael Kwan and Kevin Tharayil, proposes three sub-projects as part of this initiative:
A. Ongoing Maintenance and Updates
Artemis will maintain and continually update the Celo stablecoin dashboard (Artemis Dashboard). This includes adding new currencies and enhancing user-friendliness to ensure it meets the needs of the community.
B. Aggregated TVL and Transaction Volume Tracking
We will provide a comprehensive view of the Total Value Locked (TVL) for each stablecoin across the top 30 Uniswap pools, including USDC, USDGLO, USDT, cEUR, cREAL, cUSD, and cKES. This will include tracking 1-day, 7-day, and 1-month % changes, along with export functionality for this data.
Additionally, we will track transaction and transfer volumes for each stable-stable pool involving supported stablecoins, providing similar percentage change metrics and export options. Examples of such pools include USDT/USDC with a 0.01% fee, USDT/cEUR with a 0.01% fee, and cUSD/USDC with a 0.01% fee. For an exhaustive list, refer to Uniswap Pools.
C. Stabila Campaign Efficacy Analysis
Artemis will analyze the success of Stabila campaigns by tracking daily rewards for pools with partners like Uniswap and some centralized exchanges.
The goal is to significantly increase stablecoin volumes and improve utilization by providing incentives. This involves measuring the return on investment (ROI) for campaigns, such as determining the impact of adding a $100 incentive to a pool on transaction volumes.
This analysis will include Merkle campaigns and wallet campaigns to gauge their effectiveness. While the exact specifications are still being finalized, Artemis commits to building the necessary dashboards and analysis, assuming it is not overly burdensome.
Specifications
Product Features (Application Activity Monitor)
The Application Activity Monitor enables anyone to see which Celo applications are driving usage. This tool is invaluable for investors conducting due diligence and screening new protocols for potential investment. Key features include:
- Sector Analysis: This feature breaks down Celo’s blockchain usage by sector, allowing users to track over time the percentage of usage dedicated to P2P payments, DeFi, NFTs, and more. For example, similar sector analysis on Ethereum provides insights into the health and diversity of its ecosystem. Investors rely on this analysis to understand the robustness and breadth of a chain’s ecosystem before making investment decisions.
- Gas Guzzlers: This feature tracks which dapps are generating the most fees on the chain. High fee generation is a strong indicator of a dapp gaining traction and demonstrates user willingness to pay for the application’s services. This metric is crucial for identifying high-demand applications within the ecosystem.
- Trending Apps: The Application Activity Monitor also highlights dapps that have seen the most significant increases in DAUs, daily transactions, and gas usage. This helps users identify which applications are gaining popularity and traction within the ecosystem. Trending applications are excellent candidates for Celo’s Bloom initiative (bloom.celo.org), aiding Bloom organizers in identifying and supporting promising protocol teams.
Product Features (Stablecoin Dashboards)
Two stablecoin-related projects have been requested by the Celo Foundation to drive the success of Celo stablecoin adoption and to monitor the Stabila campaign (Stabila Proposal).
1) Exchange Pool Tracker
Overview: The Exchange Pool Tracker provides comprehensive tracking of stablecoin activities across various exchange pools. This tool is essential for understanding liquidity, transaction volumes, and overall market dynamics of Celo stablecoins.
Features:
- Total Value Locked (TVL): Track the aggregated TVL for each stablecoin across all Uniswap pools, including USDC, USDGLO, USDT, cEUR, cREAL, cUSD, and cKES. This metric includes 1-day, 7-day, and 1-month percentage changes, providing insights into liquidity trends over time. The data can be exported for further analysis.
- Transaction/Transfer Volume: Monitor transaction and transfer volumes for each stable-stable pool involving supported stablecoins. The tracker will display TVL, transaction/transfer volume amounts, and percentage changes over 1-day, 7-day, and 1-month periods. This data is also exportable, allowing for detailed analysis.
Example Pools:
- USDT/USDC 0.01% fee pool
- USDT/cEUR 0.01% fee pool
- cUSD/USDC 0.01% fee pool
- For an exhaustive list of pools, refer to Uniswap Pools.
2) Stabila Campaign Efficacy Analysis
Overview: The Stabila Campaign Efficacy Analysis tool will evaluate the success of the Stabila campaigns aimed at increasing stablecoin adoption on Celo. This involves tracking the impact of daily rewards, incentives, and other promotional activities.
Features:
- Campaign Performance Metrics: Analyze how successful Stabila campaigns are by tracking daily rewards for pools partnered with Uniswap and centralized exchanges. The goal is to significantly boost stablecoin volumes and improve utilization.
- Return on Investment (ROI) Tracking: Measure the ROI for campaigns by assessing the impact of incentives on transaction volumes. For instance, determine how much volume is generated by adding a $100 incentive to a pool.
- Comprehensive Campaign Analysis: Include Merkle campaigns and wallet campaigns to gauge their effectiveness. Artemis commits to building the necessary dashboards and conducting thorough analysis to support these efforts, ensuring they are not overly burdensome.
3) Ongoing maintenance of Stablecoin Dashboard (https://app.artemis.xyz/stablecoins?chain=celo)
Overview: Continuous maintenance and updates are essential to keep the stablecoin dashboards relevant and user-friendly. This ensures that the Celo community and stakeholders have access to the most accurate and up-to-date information.
Features:
- Regular Updates: Keep the stablecoin dashboards updated with new stablecoin additions and the latest data. This includes support for new currencies and ensuring all relevant metrics are accurately represented (such as adding cKES: [FINAL] Launch of a Kenyan Shilling Stablecoin).
- User-Friendly Enhancements: Continuously improve the user interface and user experience based on feedback from the community. This ensures the dashboards are easy to navigate and provide the necessary insights at a glance.
- Comprehensive Support: Provide ongoing support to ensure that the stablecoin dashboards meet the evolving needs of the Celo Foundation and the broader community. This includes working closely with key stakeholders, like Mento lead Marcus, to ensure the dashboards align with strategic objectives.
- Wallet to wallet tracking for all stablecoin currencies on Celo:
– Volume
– Daily Transactions
– Monthly Active Users (MAU)
– Weekly Active Users (WAU)
– Daily Active Users (DAU)
Why Artemis?
- Free and Open Access: Artemis is the most suitable data provider, backed by an elite team of software engineers with extensive data engineering experience from Coinbase, Microsoft, and Google. Founded by Jon Ma and Anthony Yim, Artemis was created to democratize financial education and access, inspired by their experiences in traditional finance where high-quality investments were often exclusive. Artemis is committed to improving rationality, transparency, and accessibility of blockchain data, ensuring that all data will always be free to use and access at app.artemis.xyz.
- Close Relationships with RWA and Stablecoin Builders: Artemis works closely with key leaders in the Real World Assets (RWA) and Stablecoin space, such as Castle Island Ventures, BlueChip.org, and Standard & Poor’s. These relationships enable Artemis to stay at the forefront of developments in the industry, ensuring that our data are in the hands of the key opinion leaders of the space.
- Most Cited Institutional Data Provider in the Space:
- Trusted by key Celo stakeholders already:
Funding Request
Artemis offers comprehensive solutions with the Application Activity Monitor and Stablecoin Dashboard, priced based on the equivalent cost of hiring 2-3 full-time employees (FTEs) per year to build and maintain similar data infrastructure as well as what other ecosystems are paying for Artemis’ services.
- Application Activity Monitor: $150,000 per year
- Stablecoin Dashboard: $124,000 per year
Our pricing model reflects the extensive expertise and ongoing support required to ensure these tools are continuously updated, reliable, and user-friendly.
Total Funding Request: $274,000 per year
Multisig Signers: Add wallet address here about who will be on the multisig that receives the funding
Conclusion
Integrating Artemis into the Celo ecosystem will significantly enhance transparency, usability, and adoption of Celo’s blockchain technology, especially towards liquid token investors and large financial institutions–the core customers of Artemis and potential investors of the Celo ecosystem. Many of these customers are not aware of all the new developments of Celo as they understand Celo as a climate focused chain. Artemis can help provide investors an up-to-date, unbiased and data-backed view on the latest developments of Celo including its transition to an Ethereum L2 so that Celo remains top-of-mind in the investor community.
By providing comprehensive data solutions such as the Application Activity Monitor and Stablecoin Dashboard, Artemis will also empower the Celo community with valuable insights and drive informed decision-making. This partnership aligns with Celo’s mission of financial inclusion and stability, supporting the ecosystem’s growth and long-term success.
Transparency for Proposals
and all addresses involved, along with the individuals behind each address (nickname or real name).
