DApps on STEEM - Analyzing Fundition

in #fundition6 years ago
Fundition is a next-generation, decentralized, peer-to-peer crowdfunding and collaboration platform, built on the Steem blockchain.

Source Fundition.io

With SMT's early next year, Developers have the opportunity to launch their app on STEEM and maybe even share in some kick starter finance from Steemit Inc.

@Fundition has been in receipt of funding from Steemit Inc by way of delegation from @Misterdelegation to the tune of 1M SP. As one of the newer apps on the block, this is the first analysis I have published on data around Fundition, and I think it is a project worth showcasing.  

Aim of Analysis

• Obtain a general feel for the activity levels on fundition

• Find out how much was paid out in rewards by fundition 

• Find out how much posts to fundition earned in total

• See who the movers and shakers are

• Correlation tests on voting habits

• User profiling

Scope of Analysis

The analysis was carried out for the month of October 18.  Data from the STEEM blockchain and Coinmarketcap was used and full details of the queries can be found at the bottom of this post.

Findings

• 36% of fundition posts received a vote from @fundition

@fundition votes make up 63% of the funding earning on fundition posts.

• Over US$23K in gross funding was raised in October.

• There is no correlation with the voting habits of fundition .

• The user based voted on has relatively the same profiling as the user base posting with the exception of the age of the account which deviates slightly.

Activity on Fundition

  

1283 posts were made by 315 authors received 2061 comments from 410 authors and the comments grossed a payout of SBD$58.89 from 716 votes.

The posts also netted over 120K votes with a gross payout of SBD$23.69K.

In US$ this equates to $23.57 in gross funding

 

Votes From Fundition

   

80 distinct Authors received in total 463 votes from Fundition in October.  The average vote weight was 66.65% giving a vote of approx. 32 SBD.  In total Fundition have funded 14.84K SBD by way of upvotes to different projects.

If we look at this in US$ we can see that fundition have funded projects to the tune of US$14.74K

  

36% of fundition posts received a vote from @fundition

@fundition votes make up 63% of the funding earning on fundition posts.

Movers and Shakers

The table below shows the top earning on Fundition

  

The most active posters are shown in the table below

  

Correlation tests on Fundition Voting

A series of tests were carried out to see if there is a correlation between fundition voting and user activity/profile.

The first test is to see if there is a correlation between the Average voting weight used by fundtion and the % of app posts submitted per author that received a vote.  A correlation coefficient of 0.058 was found.  Therefore we can establish there is no correlation between the voting weight and the % of your posts that get approved.

  

The second test is to see if there is a correlation between the voting weight used and the % of total posts by an author on STEEM that relate to fundition.  A correlation coefficient of 0.4001 was found which indicated a weak positive correlation.

The third test is to see if there is a correlation between the owned SP of the posting account and the average weight used by fundition on the voting.  As you can see there is no correlation between these metrics.

  

The forth test looks for a correlation between the voting weight used and the age of the account that is posting the project.  An extremely weak correlation can be found.

User Profiling

I thought it would be interesting to take a look at the user profiling of both those supported by Fundtion and those posting to fundition

The Green represents accounts that have received a vote from fundition and the blue include all authors posting to fundition.

The below histogram shows the % of posts an account made to fundition against all their posts on steem.  185 account made <=17% of their posts to fundition in October.  31 of these were supported.  On the other end of the scale 23 people had >=97% of their steem posts to fundition and 14 of these were supported.

  

The below histogram shows the age of the STEEM account posting to fundition. The green showing the spread of account voted for and the blue showing the spread of the age of accounts that posted to fundition.  Statistically in October accounts between 460 and 590 days old had a higher probability of receiving a vote. 

  

Above we can see the accounts by SP owned and the distribution of both posts and votes seems to be very much in line with each other.

Below shows the distribution of funition users in terms of powering down

 

Above shows the distribution of users in terms of those that power up liquid steem.

Conclusion

Fundition is an amazing project allowing anyone crowdfund a project. Having tried the platform myself, it looks good and works well.

It is worth pointing out here, that I did not look at projects that may also have received funding via transfers and now you can also send funding via paypal.

It is positive that the user profiling of the accounts receiving votes follow the same trend as the profiling of accounts posting and it is also very positive that there is no correlation between the voting habits and user account types.  This indicates that Fundition is not easily gamed and they are spreading their rewards in manor not favoring any one group.

I would like to take this opportunity to wish the fundition team all the best with this ambitious project and I look forward to seeing this project grow to its full potential.

Data and queries

Data was gathered in Power BI and Excel From Steemsql held and managed by @arcange.

The M code used to get vote information from fundition was


let
    Source = Sql.Database("vip.steemsql.com", "DBSteem", [Query="SELECT#(lf)*#(lf)FROM #(lf)Txvotes (NOLOCK)#(lf)#(lf)WHERE [voter] in ('fundition')#(lf)and CONVERT(DATE,timestamp) BETWEEN '2018-10-01' AND '2018-10-31'"]),
    #"Added Custom" = Table.AddColumn(Source, "% weight", each [weight]/10000),
    #"Changed Type" = Table.TransformColumnTypes(#"Added Custom",{{"% weight", Percentage.Type}}),
    #"Added Custom1" = Table.AddColumn(#"Changed Type", "Current vote worth", each 95.44),
    #"Added Custom2" = Table.AddColumn(#"Added Custom1", "approx vote $", each [Current vote worth]*[#"% weight"]),
    #"Changed Type1" = Table.TransformColumnTypes(#"Added Custom2",{{"timestamp", type date}, {"approx vote $", type number}})
in
    #"Changed Type1"


The M code used to post information to fundition was

let
    Source = Sql.Database("vip.steemsql.com", "DBSteem", [Query="SELECT#(lf)    author,#(lf)json_metadata,#(lf) permlink,#(lf)      total_payout_value,#(lf)    pending_payout_value,#(lf)    net_votes,#(lf)    created,#(lf)    children,#(lf)    Category,#(lf)    Depth#(lf)#(lf)FROM comments (NOLOCK)#(lf)where CONVERT(DATE,created) BETWEEN '2018-10-01' AND '2018-10-31' and#(lf)contains (json_metadata, 'fundition')#(lf)#(lf)#(lf)#(lf)"]),
    #"Changed Type" = Table.TransformColumnTypes(Source,{{"created", type date}})
in
    #"Changed Type"


The M code used to get coinmarketcap data was

let
    Source = Web.Page(Web.Contents("https://coinmarketcap.com/currencies/steem-dollars/historical-data/?start=20180101&end=20181031")),
    Data0 = Source{0}[Data],
    #"Changed Type" = Table.TransformColumnTypes(Data0,{{"Date", type date}, {"Open*", type number}, {"High", type number}, {"Low", type number}, {"Close**", type number}, {"Volume", type number}, {"Market Cap", type number}}),
    #"Removed Other Columns" = Table.SelectColumns(#"Changed Type",{"Date", "Close**"})
in
    #"Removed Other Columns"


The value of a vote for fundition was taken from steemworld.org on 4 Nov.

Shamless Plug

Like what we are doing?  Dont forget to vote for @steemcommunity as your steem witness.

Sort:  

Thank you very much for the analysis @paulag. I would not do it better myself. Having datas is one thing, but making them speak is another one.

We have built a dedicated curation system (
https://fundition.io/#!/curation) for our platform and I'm really glad to see the global result. All the merit goes to my team and the auditors/curators of fundition which take their role seriously and make their best to serve Fundition's users.

For the rest, I'm pretty sure that we will keep improving those numbers and my only wish is to see more direct funding over the platform, and since we integrated the "paypal to steem" we are already receiving many donations that couldnt be given before few weeks ago, so we are in the good way.

The next big step for fundition will be announced soon as we have fixed all issues with our recent updates.
Best regards,

I am delighted that you stopped by. Having spoken with you on discord during the week, I know you have a massive vision, which is something the data can not show. I hope this post will be found by investors as the amount of funding earned by projects is amazing considering fundition is so new.

Just knew about the curation system and wow, it is a transparent system. Wonder how are the marking system work and the difference between red and green projects.

More power to @fundition. Through their program, I was able to somehow made my classroom a home which is conducive to the learning of my class children. Thank you very much @fundition. ❤❤❤

inCollage_20180828_194528727.jpg

This is so amazing. Fantastic and well done to you. Education is so important, I really love what you have done

Thank you @paulag.

Thank you for being a loyal Funditian and helping spread the voice of Fundition all around, we really appreciate your efforts to try and promote Fundition. Take care and keep spreading the word about Fundition whenever you can, so, we can grow and help as many people as possible. We wish you all the best.

If you are reading this and you aren’t the author of this post, what are you waiting for, Join Fundition and let’s together make a change, a change that will make this World Better even Amazing!

Fundition is a next-generation, decentralized, peer-to-peer crowdfunding and collaboration platform, built on the Steem blockchain.

Read the full details of Fundition Fund program

Learn more about Fundition by reading our purplepaper

work_on_progess.gif

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fundition is a great project with big ambition. I have already told a few people that I know are looking for funding, lets hope more people spread the word

This post has been found valuable and upvoted by El surtidor

thank you so much

Great to see a program like this making an impact. It has no where to go but up and able to help even more great projects. Nice work @paulag

Thanks @shadowspub, its so great to see these apps grow

Great analysis with a lot of good data. I guess fundition.io is also still suffering from a leck of active Steem users but that given I think the overall platform works pretty well. Thanks for your good work @paulag

well at least they have a base of users to start from. the people active now on steem seem to be the new core that will take these dapps and platform to the next high.

Hi @paulag!

Your post was upvoted by @steem-ua, new Steem dApp, using UserAuthority for algorithmic post curation!
Your UA account score is currently 6.975 which ranks you at #90 across all Steem accounts.
Your rank has improved 3 places in the last three days (old rank 93).

In our last Algorithmic Curation Round, consisting of 288 contributions, your post is ranked at #7.

Evaluation of your UA score:
  • You've built up a nice network.
  • The readers appreciate your great work!
  • Good user engagement!

Feel free to join our @steem-ua Discord server

90 yummmmmm, top 50 here I come

No doubt this is something meaningful to be studied. Didn't know @archisteem stands the second for the top earners. It is indeed lucky for us to get curated by @fundition and thanks to the team for supporting us all along. With this data analysis, I am just filled with gratefulness and motivation which drives me to continue the project.