Abstract Summary
Currently, TELx is supported by six liquidity pools that enable users to provide liquidity through specific asset pairs in return for varying incentives ($TEL issuance and swap fees). While this system offers lucrative opportunities, it lacks a centralized analytics platform to provide users with accessible insights, limiting transparency and informed decision-making.
This proposal outlines the creation of a TELx Data and Analytics Framework to simplify and enhance the user experience by leveraging platforms like DUNE Analytics (https://dune.com/home) or other similar platforms. By providing real-time data visualization and periodic reporting, this initiative aims to increase community trust, drive activity, and attract more liquidity to increase Total Value Locked (TVL) within the TELx ecosystem.
Background to the Problem
Observations:
The TELx platform currently allows users to earn rewards by providing liquidity. However, there is no centralized hub where users can access data such as:
• Liquidity trends
• Pool-specific performance metrics
• User engagement statistics
Issues:
- Lack of Transparency: Users cannot easily monitor pool performance or expected returns.
- Decision-Making Challenges: Without accessible data, users struggle to optimize their participation within the ecosystem.
- Limited Engagement: The absence of real-time insights limits community involvement.
Specification of the Solution
Design Objectives:
- Create a centralized analytics framework leveraging a platform like DUNE Analytics or similar platform.
- Provide user-friendly dashboards to simplify access to key metrics.
- Establish periodic reporting (monthly and quarterly) for ongoing updates.
- Integrate the framework / dashboard with the TELx website for accessibility.
- Ensure scalability to accommodate future pools and expansions.
Basic Features:
- Data Aggregation: Aggregate on-chain data from the six current TELx pools and any future pools.
- Visualization: Develop custom dashboards showing:
o Liquidity trends
o Trading volumes
o Reward distributions
o User engagement - Reporting: Generate and publish:
o Monthly and quarterly analytics reports
o Real-time updates on TELx website - User Experience: Simplify analytics access to encourage broader participation and understanding.
- Scalability: Ensure seamless integration of new pools as they are introduced.
Resources and Financial Requirements
Implementation Dependencies: All development work will involve collaboration with the Telcoin Autonomous Operations (TAO) or an appropriate third-party organization to ensure efficiency, compliance, and alignment with the TELx ecosystem goals. Financials requirements to be determined based on the amount of work required.
Implementation Timeline (estimated)
- Phase 1: Framework Design (Month 1)
o Define key metrics and analytics requirements.
o Select the analytics platform and establish initial infrastructure. - Phase 2: Development and Testing (Months 2-3)
o Build data pipelines and dashboards.
o Test for accuracy, reliability, and user-friendliness. - Phase 3: Launch and Reporting (Month 4)
o Roll out dashboards and analytics reports.
o Begin publishing monthly and quarterly updates on TELx website.
Expected Benefits
- Increased TVL: Enhanced data accessibility is expected to attract more liquidity into TELx pools.
- Transparency: Real-time insights build community trust and engagement.
- Informed Decision-Making: Users can make data-driven decisions, optimizing their rewards.
- Scalability: A future-ready solution that grows alongside the TELx ecosystem.
Risks and Mitigation
- Technical Challenges:
o Mitigation: Collaborate with experienced developers and third-party platforms. - Data Accuracy Issues:
o Mitigation: Implement rigorous testing and validation protocols. - Community Adoption:
o Mitigation: Design intuitive interfaces and provide educational materials (subsequent proposal to come).
Metrics for Success
- Liquidity Growth: Monitor the increase in Total Value Locked (TVL) across TELx pools.
- User Participation: Track the number of users accessing analytics tools and providing liquidity.
- Community Engagement: Measure feedback and interactions on the TELx website.
- Reporting Consistency: Ensure timely delivery of monthly and quarterly updates.
Overall Mission Alignment
The TELx Data and Analytics Framework aligns closely with Telcoin’s mission of user-owned financial empowerment. By simplifying access to key insights and driving increased participation, this proposal ensures the long-term growth and success of the TELx ecosystem.