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NuFi - An Open, Ethereum-Only, DAO-based Alternative to DApp Trackers & CMC.


Community Education





5 contributors


{"ops":[{"attributes":{"underline":true,"italic":true,"bold":true},"insert":"TL;DR:"},{"insert":"\n"},{"attributes":{"italic":true},"insert":"We're starting a site to replace the need for DeFi to use sites like Dapp.com and CoinMarketCap.com; and allow Ethereum content creators to posts guides, tutorial and news about DeFi products in a centralized location"},{"insert":".\n\n"},{"attributes":{"italic":true},"insert":"It will be community owned."},{"attributes":{"list":"bullet"},"insert":"\n"},{"attributes":{"italic":true},"insert":"It will be run by a DAO."},{"attributes":{"list":"bullet"},"insert":"\n"},{"attributes":{"italic":true},"insert":"Content creators earn their share of revenue."},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"\n"},{"attributes":{"underline":true,"bold":true},"insert":"Background:"},{"insert":"\nI am tired.\n\nI am tired of trying to introduce people to DeFi where I:\n\nSend people to sites like Dapp.com to explore DeFi."},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"Hear they've bought EOS, Tron or some other non-decentralized blockchain."},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"Play with scammy apps."},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"Decide that all of crypto is a scam and leave the space."},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"\nOur current DApp trackers are not a public good. They are a public "},{"attributes":{"underline":true,"bold":true},"insert":"menace"},{"insert":". \n\nThis is why I am creating \"NuFi\" - an open Ethereum focused DApp/price tracker which will monitor, review and promote legitimate projects in the Ethereum ecosystem that add value to the space.\n\n"},{"attributes":{"underline":true,"bold":true},"insert":"What's Wrong With Current Trackers? "},{"insert":"\n\nThe top DApp trackers in the space are \"DAppRader\", \"Dapp Review\", \"StateOfTheDApps\" and \"DApp.com\", \"\n\nAll of them have either:\n\nTaken paid promotion to show ads for scams and ponzi schemes."},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"Promoted gambling apps on centralized chains as \"Promoted Apps\" or \"Editors Choice\" to promote their referral link."},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"Sent emails to users promoting the benefits of Tron over Ethereum (likely paid.)"},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"Used vague metrics to push users towards Tron and EOS based apps."},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"\nThe worst of these is DApp.com - here is a summary of just some of the shady things they've done:\n\nFor months took money from a ponzi scam called \"Mining Expert\" to create custom ads on their site both in the top rail (https://i.imgur.com/J0R8LfD.png) and as the featured app (https://i.imgur.com/spWc1ou.png). Once the apps marketing deal ran out, then "},{"attributes":{"underline":true,"bold":true},"insert":"and only then"},{"insert":" did they label the app as a scam ("},{"attributes":{"link":"https://twitter.com/dapp_com/status/1242087101962702848"},"insert":"https://twitter.com/dapp_com/status/1242087101962702848"},{"insert":")."},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"\nAfter raising $1M in Angel Funding proceeded to launch a vague Dapp.com token for a DApp store, and multichain identity wallet. Raising another few million in this sale, with a whitepaper that bashed the shortcomings of Ethereum, so far their \""},{"attributes":{"italic":true},"insert":"DApp store"},{"insert":"\" simply redirects users to the website of other apps and seems to be pay-to-list."},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"\nAnnounced a 'Partnership' with the ICON Blockchain where when you click the \""},{"attributes":{"italic":true},"insert":"Ranking"},{"insert":"\" button on DApp.com it takes you only to "},{"attributes":{"link":"https://www.dapp.com/ranking/ICON"},"insert":"https://www.dapp.com/ranking/ICON"},{"insert":" and hides other blockchains to start."},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"\nThese sites do not care about supporting, highlighting or promoting actual quality DApps and DeFi tools - they are simply money grabs.\n\n"},{"attributes":{"underline":true,"bold":true},"insert":"Why Do We Need A Site?"},{"insert":"\n\nDecentralized systems win when:\n\nIt's easy to find good quality projects."},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"It's easy to learn how to use these projects."},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"All of this can be done without risk of finding bad projects."},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"\nMost DeFi projects, and in turn the tokens and DAOs that support them, are designed for consumer scale. By making it easy to on board new users in a trusted environment the entire industry wins.\n\n"},{"attributes":{"underline":true,"bold":true},"insert":"What Will The Site Do?"},{"insert":"\n\nJust like current DApp we'll list DeFi products based on a number of key metrics. We'll also have a section to track the price of Ethereum and DeFi assets.\n\nUnlike other existing sites, all projects/assets listed will have to meet strict community review criteria to be accepted.\n\nEach project will also include tutorials and reviews about the product from community members. Any member of the community can submit content and if it meets the quality guidelines (i.e. is not spam) the article will be published.\n\nThe NuFi site will still run ("},{"attributes":{"italic":true,"bold":true},"insert":"ethical non-invasive"},{"attributes":{"underline":true},"insert":")"},{"insert":" ads, but, advertisements must be for reviewed products that meet the community guidelines. The site will split revenue with any tutorial/review writers based on their share of impressions, allowing content creators in the space to leverage the power of collective negotiation in advertising sales. The NuFi site itself will cover costs, and 100% of all left over earnings after costs of goods sold will be used to support other projects in the space.\n\n"},{"attributes":{"underline":true,"bold":true},"insert":"For The Community; By The Community:"},{"insert":"\nBeyond just making payments out to community members, NuFi will aim to move all the management of the site under a DAO managed by its community.\n\nThe initial DAO tokens will be granted to:\n\nCommunity members based on their contributions in creating and translating content."},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"Community members based on their contributions referring new users to the site."},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"Community members who initially helped build the site."},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"Members of key communities in the space who have helped support public goods (Ethereum Foundation, MetaCartel, Moloch DAO, Magicians, Cat Herders)"},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"Gitcoin grant backers (those who back "},{"attributes":{"underline":true,"bold":true},"insert":"any"},{"insert":" grant not just this one)"},{"attributes":{"list":"ordered"},"insert":"\n"},{"attributes":{"italic":true},"insert":"*Any group or individual who doesn't wish to claim their allocation will have that allocation burned so that the voting power will simply be distributed among other holders of the token."},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"\nThe initial allocations will be decided down the line, but, the DAO will have control over the direction of the website and future fund allocation so that it can best represent the specific needs of the community.\n\nWe'll explore the possibility of needing to align a financial incentive with the tokens, but, aim to keep it at a minimum required to secure the DAO. Our expectation is that the groups who are taking part in the DAO are all individuals who have shown an interesting in supporting public goods for sake of raising the space, and therefore do not need a secondary incentive to act in good faith for the Ethereum ecosystem.\n\n"},{"attributes":{"underline":true,"bold":true},"insert":"The Power of Collective Bargaining:"},{"insert":"\n\nRight now, the Ethereum community has hundreds of fantastic content creators stretched across multiple platforms, each trying to make it on their own. \n\nBeing an independent content creator, supported by ads or users, in 2020 is a tough slog.\n\nConsider that an independent blogger in the finance sector can expect to earn somewhere between $0.50 - $5 per thousand views, meanwhile sites like Yahoo Finance, Investing.com, Seeking Alpha and MarketWatch earn between $10 - $60 per thousand views.\n\nWhy?\n\nBy having such a large volume of content, users, and views, they are able to support dedicated sales teams who can sell ad space directly to brands instead of through automated markets.\n\nIt also means when negotiating affiliate agreements with products and services, you have the leverage to pursue higher rates.\n\nThis means we win in two ways:\n\nCollective bargaining results in higher CPMs and therefore higher earnings for content creators."},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"Content creators can focus on their content creation rather than chasing sponsorships and ad-deals. Meaning the community gets more high quality content."},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"\n"},{"attributes":{"underline":true,"bold":true},"insert":"Fund Goals:"},{"insert":"\nOur goal is to reach a minimum allocation of $5k to build out the minimally viable platform. In the event we fail to reach that goal, we'll reallocate any funds raised to other open-source and public goods projects, or funding issues on Gitcoin.\n\nI doubt we would reach much higher levels, but, here is what we could do if our funding went further:\n\n"},{"attributes":{"underline":true,"bold":true},"insert":"At $7k:"},{"insert":" We'd be able to build out a more robust user front-end, to make it easier for non-technical content creators to create robust content with WYSIWYG tools."},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"\n"},{"attributes":{"underline":true,"bold":true},"insert":"At $10k:"},{"insert":" We'll improve the user-facing design. Working with a designer we'll develop a clean and professional looking UX to make it easy for new users to navigate the space."},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"\n"},{"attributes":{"underline":true,"bold":true},"insert":" At $15k:"},{"insert":" We'll establish grants to seed great initial tutorial content to the site from community influencers (@Sassal, @chrisblec, @RyanSAdams - I'm looking at you guys!)"},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"\n"},{"attributes":{"underline":true,"bold":true},"insert":"At $20k:"},{"insert":" We'll find a way to do automated on-chain payments rather than manual. We'd also include professional translations in the top 6 most spoken languages of all our initial content."},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"\n"},{"attributes":{"underline":true,"bold":true},"insert":"Allocation of Funds:"},{"insert":"\n100% of the funds raised here will be allocated to freelancers building the product.\n\nI'm not personally taking any money off the top of this grant, 100% of it will be paid out for people's time.\n\n"},{"attributes":{"underline":true,"bold":true},"insert":"Who We Will Hire:"},{"insert":"\nIn looking for freelancers we will specifically hire individuals from the Ethereum community to better support our own ecosystem. We'll try and focus this first on any developers, designers and content creators who may have been displaced by the Covid19 pandemic.\n\n"},{"attributes":{"underline":true,"bold":true},"insert":"My Personal Investment:"},{"insert":"\nBeyond my involvement and the domain name, I'll also commit to covering the first year of hosting for the project (or until it becomes self-sustaining). I'll also commit the first $2500 towards this grant which is 50% of our minimum goal.\n\n"},{"attributes":{"underline":true,"bold":true},"insert":"Interested In Helping?"},{"insert":"\nInterested in donating your time, or helping be part of the steering committee for this project? Reach out on Twitter (@adamscochran)\n\n\n"}]}

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