[UPDATED] Proposal: Community-Enabled Analytics for Sushi

This is an updated proposal for Sushi Community-Enabled Analytics – original post can be found here.

Overview: Reproposing Community-Enabled Analytics Program

Despite widespread support from both the community and core team for our Community-Enabled Analytics (CEA) proposal, the vote failed to meet quorum; closing with 94.5% of the vote in favor.

After a post-mortem, it was determined that the miss on quorum was related to a coordination issue and extenuating circumstances that impeded the desired outcome.

As such, we have been working closely with the Sushi core team, Sushi Samurais, and engaging directly with the Sushi community to garner additional feedback, refine the proposal, and ultimately resubmit to snapshot.

Summary: Community-Enabled Analytics for Sushi

The purpose of the grant is to produce key analytics and acquire & retain new community members, by funding a sophisticated education and analytics platform.

  • Dedicated online portal for community-sourced analytics requests, which will be turned into bounties.
  • Rebuild of Sushi Analytics to include more robust metrics and better user experience.
  • Free historical state-ready, transformed SushiSwap data for SQL analytics - as well as visualization and API solutions.
  • Educational content for analysts of all levels to activate within the SushiSwap ecosystem. Beginners can learn SQL, advanced users can optimize results to deliver sophisticated solutions, including development of a SushiSwap fee calculator
  • Structured bounty programs sourced directly from core team and community - activating analysts to produce outcomes. Includes quality control of results to ensure the data is effective and correct.
  • Bounty rewards (in SUSHI tokens) delivered into the hands of community members, activating new members and retaining participation.

Year 1 Program Expectations:

Given the pilot program data, the expected results from a year of bounties would be as follows:

~ Overhaul of Sushi website analytics page (multi-chain coverage)

~ Analytics on key Sushi product lines

~ 460 new active, engaged community members [acquisition]

~ 27,000 SUSHI retained in ecosystem [retention]

~ 350+ unique dashboards, queries, visualizations, & in-depth analyses, and premium interactive solutions.

CEA Benefits

More in-depth details on “What is CEA” can be found in the original forum post.

While analytics is a direct benefit and output from CEA (which we will cover more below), the program’s core value add extends beyond these tangible deliverables:

User Acquisition

CEA creates a user acquisition funnel, which has proven elusive in Web3. The program attracts, onboards, and activates new community members through bounties, scavenger hunts, and deliverable creation.

Moreover, utilizing a series of educational programs and a hands-on community and analytics team, we activate new members into the ecosystem. This teaches new users how to actually use a complex protocol, how to think about the underlying mechanics, and even how to start becoming adept at using SQL to build queries and public-facing outcomes. For our pilot programs, nearly 69% of bounty recipients had never before held tokens.

Token Retention

The program delivers $SUSHI directly into the hands of community members helping grow the protocol. The token retention from CEA far exceeds comparative liquidity mining and airdrop campaigns intended to drive similar protocol usage and TVL.

Across programs for other partners, on average, 77% of bountied tokens remained within the ecosystem.

Marketing

The program also enables the entire community to become better marketers, providing on-demand visualizations and in-depth analyses that can be leveraged on Twitter, in blogs, across the forum, in Discord, in the Sushi Times, and much more.

Preview of CEA Outputs

For outputs from other CEA programs, see original post.

In the past three weeks, we have run full bounties, flash bounties, and a scavenger hunt for Sushi.

The Bounties and Scavenger hunt directly incentivized users to use the protocol and produce analytics yielding:

  • 176 unique participants
  • 303 submissions
  • $5,000 paid out, with ~$10,000 more scheduled (Flipside bootstrapped)

Here is a preview of the bounty output, that produced compelling dashboards and research for the protocol:

  1. How have daily fees generated changed over the last 30 days?
  2. How does the daily volatility in October compare to recent months?
  3. Which pools have had the greatest fee volatility over recent months?

  1. Predicting TVL based solely on its past values.
  2. Predicting TVL based on a subjective estimate of future ethereum prices
  3. Predicting TVL based on forecasting future ethereum prices

And finally, our research was recently featured in the Sushi Times:

Calculating the Fair Value of $SUSHI

These deliverables are only a small sample of the type of work that the Flipside analyst community can provide. As the program launches, more robust solutions and in-depth research will be scoped and produced to support Sushi in its key areas of growth.

Scope of Work

Deliverables

As part of the initial scope of work, Flipside will rebuild the analytics.sushi.com website - providing an enhanced set of metrics, UI, network coverage, and overall experience that incorporates all of Sushi’s product lines.

Wireframes for this new analytics dashboard can be found below - please note: these are very early mock-ups and are subject to change as the build commences

In addition to this first build, we will scope other necessary solutions & deliverables (such as calculators) with the core team and community as needed.

In parallel, we will be running bounty programs to provide on-demand research and scavenger hunts to coincide with major product releases and initiatives.

A community portal will be launched where members can request research & metrics, as well as provide feedback for the program.

Supported Networks

Flipside will prioritize coverage for the following networks at launch:

  • Ethereum
  • Polygon
  • Arbitrum
  • Harmony

This will cover 97% of current protocol liquidity, and their chains such as CELO, xDAI, Moonriver, and Avalanche will be, or already are, on our roadmap to add going forward.

Support Products

The program will support the following products at launch to provide a comprehensive overview of their benefits to xSushi holders:

  • SushiSwap
  • Kashi
  • Miso
  • Onsen
  • BentoBox
  • Trident (when released)
  • Shoyu

Governance Support

Flipside’s Governance team has been created to directly support, contribute, and drive participation in our partner communities - helping drive the efficiency of this critical piece of protocol health.

We have been extremely active in the forum already, with our newest team member winning New User of the Month in October.

You can read more about our commitment to improving governance participation for partner protocols here.

We are thrilled to be able to support Tangle, the Samurais, Sushi core, and the broader community in building the most efficient and collaborative governance ecosystem possible.

Grant Request: $1M Annually

To deliver the full solution, we’ve discussed a simple annual grant with the core team. This grant may be renewed on an annual basis and will enable us to devote sufficient resources to the program to keep pace with the ever-expanding Sushi metaverse.

Fee Breakdown:

→ 50% of this will be delivered to ecosystem community members as bounties ($41,667 per month):

All bounties are delivered through weekly programs: Flipside sources questions from SushiSwap and the community, prepares a bounty construct, releases to the community, QAs all results, and distributes bounties to the most effective outcomes. This is a complex and very time-consuming process, but the return is significant: extremely directed results that serve core team and community needs with immediacy. Bounties range from $40 to $650 each, determined by the complexity of the request.

→ The other 50% ($41,667 per month) is Flipside’s Fee To Operate the Program:

Costs to run this program will be roughly equivalent to the monthly income projected from the grant. Flipside will be running this program at breakeven in year one to demonstrate the value it can bring to the SushiSwap ecosystem. Program costs encapsulate:

  • Resources: Both dedicated and part-time resources to manage data pipelining, labeling and transformation, gathering of community analytic needs, bounty program structure, curation, delivery, and payments, as well as measurement of program efficacy and tracking of acquisition and retention outcomes.

  • Tech Infrastructure: Additionally, our cost estimates conservatively include a 10% allocation of our projected infrastructure costs, inclusive of node management (ETH), compute / storage needs (AWS), data warehousing (Snowflake) needs and a variety of other software/architecture tooling requirements to sustain and make the Flipside Velocity database freely available to analysts of all levels.

SushiSwap Program Oversight

Two components provide effective checks and balances to ensure maximum accountability to the SushiSwap ecosystem:

1. Oversight Committee: whose purpose is to ensure that the grant proceeds are applied in a manner consistent with its design. The Committee will meet and take a vote annually to evaluate the continuation of the program.

The committee members will be:

  • Tangle (Sushi)
  • Mudit Gupta (Sushi)
  • Pegbit (Sushi)
  • Alex Woodard (Arca)
  • Sushi Core team member to be named
  • Flipside Crypto member to be named

2. Transparency Dashboard: Transaction activities will be broadcast live via a custom dashboard for the SushiSwap community.

These oversight programs are designed to make sure the allocation of treasury funds to the CEA program effectively delivers value to the Sushi ecosystem. In the event the grant is not delivering value, the program will be reevaluated via governance.

13 Likes

Awesome. I’ll push it around the Discord. :pray:

4 Likes

amazing, thanks @Zapacheenie!

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Excited for this! Looking forward to feedback from the community

1 Like

Great stuff Flipside! You have been on a number of times, but we will welcome you back this Thursday at 17:00 UTC to the Forum to discuss the updates!

  • Send this proposal to Snapshot again
  • Not at this time

0 voters

3 Likes

Thanks @Tangle! We’ll be there, excited to chat.

Why didn’t the proposal go through with 94.5% how much is needed to pass this? Seems unreasonable to require anything more than that.

I really like where this is going! I hope the rest of the community rallies behind it. Would be very efficient if the whole core team did a twitter spree of showing their support for this to create awareness about the proposal. Not many people are actively looking into sushi with so many other things in crypto going on.

1 Like

Appreciate the post and support, @Greatmood!

We needed more participation on the last vote to hit quorum, and have been working hard to raise additional awareness for this next attempt.

The core team and community have been super supportive - and this is a great push from you to rally even more effort around getting the word out, so thanks!

Great proposal! Love how much we got already out of the last weeks already!

1 Like

Glad to see the proposal back live after all the support it received in the first vote. We at Arca plan on voting in favor of the proposal as well as supporting it in any way we can.

For some context, the data provided can be used in a lot of different ways that would help Sushi, the community, and investors. Flipside has already started working on an update to the Sushi analytics page which would provide more insights into Sushi’s growth as well as more insights into all the product lines that benefit xSushi holders. It could be used for monthly or quarterly updates similar to 10Qs providing even more transparency and insights for the community. And it can be used internally so Sushi Core better knows the growth of each product line and can better allocate resources.

Overall, we are very excited about this proposal and the benefits it can bring to Sushi.

2 Likes

This is what the community needs
thx fam

1 Like

Hi all, snapshot is now live for voting!

2 Likes

Quick update for everyone, the final Oversight Committee for Sushi CEA will be:

  • Omakase (Sushi Core)
  • Rachel Chu (Sushi Core)
  • Mudit Gupta (Sushi Core)
  • Tangle (Sushi Samurai)
  • Pegbit (Sushi Samurai)
  • Alex Woodard (Arca)
  • Avi Meyers (Flipside Crypto)

Would it still be Mudit Gupta if he left SUSHI? Also what would happen when anyone in that commitee leaves or should be changed?

1 Like

Hey @Greatmood, thanks for the questions.

Mudit will still be involved on the committee!

As for committee member changes, we will likely hold a committee vote through a transparent process that includes direct community feedback - will provide more details as we have it.

For everyone on the forum, the snapshot vote is still live and running through tomorrow at 12pm est - we’ve received incredible support and just need a bit more to get this over line.

We appreciate everyone’s support thus far and are incredibly excited to roll out CEA for Sushi!