Chapter 6 - Big Boy Dashboard - Part I
Let's take off the training wheels.
About Shibuya.xyz
Shibuya is a non-profile pic NFT interactive movie project created by pplpleasr and Maciej Kuciara, and it was also the second dashboard I made (some emotional attachment there).
The project sells $WRPP ERC-1155 tokens which are labelled as producer passes to raise funds for the development of the White Rabbit movie; and these passes give the holders voting rights to the direction of the movie at every intersection, quite similar to the Netflix interactive video: Bandersnatch.
In addition, once a vote is completed, the project issues $WRAB ERC-20 tokens to the $WRPP ERC-1155 token holders, and those $WRAB tokens represent a fractional share in the rights to the final movie.
Why Shibuya
The project is quite interesting from a technical perspective as it makes use of the ERC-1155 Ethereum token standard which is a combination of both ERC-20 and ERC-1155 standards.
For those who are not familiar with the 2 token standards, here is the short primer:
ERC-20 tokens are the basic bread and butter fungible tokens on Ethereum - think of them like shares or pieces of rights to the project issuer. There are usually issue to be divisible, i.e you can own 0.01 of the token.
ERC-1155 tokens are a variant of tokens on Ethereum. The core difference being that they are not-fungible, i.e you cannot own less than a single unit.
The above makes Shibuya a really neat project to be exploring data analytics. It lets us discover 2 different token standards without having to take in the financial engineering complexities that come with DeFi or NFT projects.
Now let’s get down to business
High level objectives
When taking on more complex projects, it is very hard to be able to have all your objectives firmed up beforehand, the reasons being:
You most likely came up with preconceived notions of what you will find in the data table, which are completely wrong;
Things that look simple in your head, will prove to be almost impossible to query with your current skill set; and
You will likely discover new data which you did not think of, that is actually worth surfacing.
So let’s start with broad high level objectives:
I want to make a dashboard - for viewers with no knowledge on Shibuya - to learn more about the project;
I want surface data - for current and prospective $WRAB holders - to learn about the tokenomics of $WRAB; and
I want to surface data - for current and prospective $WRPP holders - to learn about the tokenomics of $WRPP.
(Did you see the slight hint at Agile methodology? if you don’t get the joke, don’t worry, you can learn more here)
If you want to follow the though processes more visually, here is the link to Milanote board.
Draft Dashboard Plan
The word draft is carefully chosen, as it is very likely we will not stick with that layout.
Objective 1- Project Information
As you must have realised by now, 90% of the time spent in data analytics is research and planning. It’s no different from that 20 sec TikTok video, which probably took like days to formulate and shoot.
Good stuff is made from sweat and blood.
Base Materials
Links to use in the realisation of the first objective:
https://medium.com/@shibuya.xyz/shibuya-xyz-white-paper-2c71f60c3aae
https://etherscan.io/token/0x97ed92e744c10fdd5d403a756239c4069e415e79
We will have to read cut, paste and pack all of the above into out dashboard.
Objective 2 - $WRAB Tokenomics
Normally, tokenomics can be understood by reading the Whitepaper.
I personally like to spend some time on Etherscan, and on the discord to chat up with the actual community. Often there is a pattern of FAQs that surface continuously that tells you about what end users really want to know.
Findings
The user acquisition route of Shibuya was mostly as an NFT project.
A sizeable portion of the users were not aware of the existence of $WRAB nor did they read the whitepaper.
There was a lot of question on:
What is $WRAB?
How much is there?
What is the price of $WRAB?
Where can I buy/sell $WRAB?
Granular Data Analytics Objectives
Based on the above we should be surfacing data that covers:
$WRAB basic token metrics: total supply, biggest holders, etc…
$WRAB market price: prices from DEX, pool sizes, estimated market cap, etc…
Objective 3 - $WRPP Tokenomics
Findings
A good portion of $WRPP holders and prospective buyers were NFT flippers, and were concerned mostly with OpenSea pricing.
They were also caught off guard when they forgot to stake their $WRPP, thus not participating in the voting process that would entitle them to $WRAB.
Others were so focused on $WRAB that they forgot to unstake their $WRPP.
Granular Data Analytics Objectives
Based on the above we should be surfacing data that covers:
$WRPP minting process: how many have been minted and when the minting was completed, etc…
$WRPP staking process: $WRAB emission per $WRBB staked, $WRAB staking and unstaking rate, etc…
$WRPP voting metrics: what is the voting process, which direction the stakers are voting.
$WRPP OpenSea metrics: trading prices, trading volumes, etc..
Takeout
Phew… A whole substack article and not a single line of code!
However you must agree with me that it is a necessary step to complete in order to get to the actual data analytics part.
So, take a breather and we will start hitting the keyboard in the next article.