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Earn While You Get LUNA

Updated on Jan 02,2024

Earn While You Get LUNA

Table of Contents

  • Introduction
  • Overview of Flipside
  • How the Data Platform Works
  • Architecture of the Data Platform
    • On-chain Data
    • Chainwalkers
    • Data Augmentation
    • Data Modeling
  • Use Cases for the Data Platform
    • Community-Enabled Analytics
    • Scavenger Hunts
    • Data Cheat Codes
  • The Bounty Infrastructure
    • The Role of Analysts
    • Ops Team and Payment Processing
  • Improving the Bounty Infrastructure
    • Open Sourcing Chainwalkers
    • Tools for Payment Automation
  • Conclusion

Introduction

In this article, we will explore the data platform created by Flipside. We will dive into the architecture and workflow of the platform to understand how data is collected, structured, and made accessible. Additionally, we will discuss the various use cases for the platform, including community-enabled analytics, scavenger hunts, and data cheat codes. Furthermore, we will Delve into the bounty infrastructure that incentivizes analysts and the challenges faced by the ops team in processing payments. Finally, we will highlight potential improvements to the bounty infrastructure and ways to enhance the efficiency and user-friendliness of the platform.

Overview of Flipside

Flipside aims to build an open data platform that empowers crypto users, communities, and ecosystems to access and analyze blockchain data freely. The platform ensures that data is structured, labeled, and accessible to users of all levels, from beginners to advanced analysts. Through their program called Community-Enabled Analytics (CEA), Flipside rewards analysts with crypto bounties for providing insightful analysis and answers to questions posed by the community. These bounties encourage the active participation of analysts and foster a collaborative environment in the crypto ecosystem.

How the Data Platform Works

Flipside's data platform operates by collecting data from various chains, including Ethereum, Terra, and Polygon. Over 60 different nodes have been parsed to capture on-chain data, which is then pulled into the platform. To facilitate easier retrieval, the data is indexed using a tool called Chainwalkers. This indexing process enhances the speed and efficiency of accessing the data for analysis.

However, raw on-chain data lacks Context and comprehensive information. To address this, Flipside augments the data by incorporating additional information, such as balance data and pricing data. These augmentations provide a more detailed and holistic view of the blockchain ecosystem. Moreover, Flipside's data science team spends significant time understanding user behaviors and actions to further enrich the analysis and insights provided by the platform.

Architecture of the Data Platform

The architecture of Flipside's data platform revolves around nodes, Chainwalkers, data augmentation, and data modeling. At the Core of the platform are nodes that capture on-chain data from different chains. The Chainwalkers tool parses and indexes this data to enable easy local access.

Data augmentation is a critical step where the platform adds context and enriches the raw on-chain data. This includes incorporating balance data, pricing information, and labels that help identify specific behaviors and actors in the ecosystem. By providing context, Flipside's data platform enables more Meaningful and in-depth analysis.

The data modeling step is where the structured and augmented data is organized into tables and models that make analysis more accessible. The data analytics team at Flipside spends considerable time understanding the nuances of the data to ensure accurate modeling. This data modeling layer allows analysts to leverage pre-built models and easily answer specific questions without starting from scratch.

Use Cases for the Data Platform

The data platform provided by Flipside enables a wide range of use cases within the crypto ecosystem. The Community-Enabled Analytics program allows analysts to answer questions posed by the community and earn crypto bounties for their work. These bounties incentivize analysts to contribute valuable insights and analysis to the ecosystem.

Scavenger hunts are another valuable tool offered by Flipside. These hunts help users familiarize themselves with the data and understand its structure, enabling better navigation and analysis. They serve as pre-flight checklists for data exploration, providing users with the necessary knowledge to make the most of the platform.

Data cheat codes are powerful resources provided by Flipside's power users. These cheat codes, in the form of pre-built models, help analysts take their analysis to the next level. By leveraging existing models, analysts can save time and focus on more detailed and sophisticated analysis.

The Bounty Infrastructure

Flipside's bounty infrastructure plays a crucial role in incentivizing analysts and rewarding their contributions. Analysts participate in the bounty program by answering questions posed by the community. Once their analyses are submitted, the ops team at Flipside reviews and verifies the submissions before processing payments.

This process involves checking the accuracy and relevance of the analyses to ensure they meet community expectations. Payments are made to analysts Based on the quality and value of their contributions. However, the manual nature of the payment process can be time-consuming and resource-intensive, especially with a high volume of submissions.

Improving the Bounty Infrastructure

To enhance the bounty infrastructure, Flipside is open-sourcing its Chainwalkers tool, allowing the community to access and utilize it. This openness fosters collaboration and enables the development of innovative solutions by leveraging the collective knowledge and skills of the community.

Furthermore, there is a need to automate the payment process to streamline operations and reduce the turnaround time. Creating user-friendly tools, such as a web UI or Excel upload, would make it easier for the ops team to process payments efficiently. Additionally, considering different fee structures and supporting various token conversions would add flexibility and broader utility to the platform.

Conclusion

Flipside's data platform provides a comprehensive and accessible solution for analyzing blockchain data. By structuring and augmenting raw on-chain data, Flipside enables users to gain insights and answers to complex questions. The bounty infrastructure serves as an incentive for analysts to contribute their expertise, while the ops team ensures the Timely and accurate processing of payments. Open-sourcing key tools and automating payment processes will further enhance the platform's functionality and user experience, fostering a vibrant and collaborative ecosystem within the crypto community.

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