At DuneCon 2024, a thought-provoking panel featuring Linna Zhu (Mantle), Lukas Schor (Safe), Tomer Weller (Stellar), Hannah Curtis (Dune), and Sid Shekhar challenged traditional metrics like Total Value Locked (TVL) and explored innovative ways to define success in the world of crypto analytics and marketing.

Key learnings from the panel:

• The limitations of TVL: The panel emphasized TVL’s shortcomings, such as its susceptibility to speculative activity, airdrop farming, and its focus on supply rather than true demand or adoption.
• Emerging metrics:
  • Hannah Curtis introduced the Dune Index, a novel approach for tracking adoption by netting meaningful transaction data, removing bot-like activities, and emphasizing real user behavior.
  • Lukas Schor highlighted Total Volume Processed (TVP) as a measure akin to GDP for on-chain economic activity, moving beyond passive TVL to reflect active, value-driven activity.
  • Linna Zhu proposed evaluating utilized TVL, a ratio of actively deployed TVL to total TVL, for better insight into chain adoption.
• Beyond numbers: The panel discussed the importance of focusing on metrics that represent impact, such as access to yield-bearing assets in underserved regions or inclusive financial systems, rather than solely speculative volume or headline figures.
• Activity vs. adoption:
  • Tomer Weller emphasized distinguishing meaningful activity from bot-driven transactions, advocating for closer collaboration with wallets and dApps to understand real user engagement.
  • The panel debated the role of bots, noting that while automation can drive activity, not all bot activity equates to meaningful or sustainable ecosystem growth.
• Future directions: A consensus emerged around creating standardized, purpose-driven metrics for different project goals, such as protocol fees to measure real user value or transaction volumes to gauge economic flows.

This session was a masterclass in rethinking how the crypto industry measures success, combining practical insights with a vision for a more impact-oriented and inclusive future.

👉 Watch now to learn how top minds in crypto analytics are redefining metrics and leveraging tools like Dune to drive smarter decision-making! 🚀

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