February 24, 2023

DappLooker joins the peaq Ecosystem Grant Program

In a nutshell: DappLooker joins peaq Foundation’s Ecosystem Grant Program to connect its data analytics platform with peaq and krest networks. The integration, conducted with the financial support from the Foundation, will grant the community a handy and user-friendly tool for data-driven analysis. From the number of connected machines to the machine NFT rewards, DappLooker will give peaq users a detailed breakdown of the entire ecosystem.

“Data is important because it provides insights, information, and evidence to help make informed decisions, solve problems, and create solutions in various fields and industries.”

This insight comes from none other than ChatGPT, a language model trained on tons of data to ragequit in tic-tac-toe, write texts that make Twitter giggle, and eventually leave many of us out of jobs (don’t worry, though, it’s not all doom and gloom). And as it’s dropping the mic, just imagine how handy data is for stakeholders in the Economy of Things.  

Take that electric vehicle you hooked up through peaq control the other day (okay, for now, it’s more likely a Raspberry Pi, but soon, we promise!) — how many of its kin are also linked with the network? How much are they earning, and how many transactions do they conduct per hour? It’s pretty handy to know all that even as a machine owner, but as a builder, such questions are even more important, as they help you assess the current state and performance of your dApp and chart the path forward. 

So hear ye, hear ye, peaq users, and rejoice: Soon, you will be able to answer all of these questions thanks to peaq’s integration with DappLooker, a multi-chain analytics and visualization platform for Web3 projects. This project, the first one to officially join peaq Foundation’s Ecosystem Grant Program following the approval of its bid by the Grant Committee, will link its analytics tool with peaq and krest, bringing a trove of insights to the community.

"DappLooker partners with peaq and krest to bring advanced analytics to the Economy of Things. This collaboration enhances transparency and visibility, providing users with data-driven decision-making to maximize their potential. Together, we aim to build a more efficient and accessible ecosystem for all stakeholders."

- Abhay Singh, Co-Founder of DappLooker 

Drill, baby, drill!

Data is the new oil, the tech industry once chanted with the same fervor as what xXx_420_CrytoKek_xXx puts on display when shilling you a new dog-themed Metaverse GameFi memecoin. And just as with oil, before drilling for data, you want to have some idea of what exactly is down there. Makes sense, fair enough, here is what the peaq community will be able to drill for with DappLooker:

  • How many machine IDs are connected with dApps? An overview of devices connected to the network makes it easy to assess its scale and strategize on new projects.
  • How many transactions do machines generate? This is helpful for scaling peaq and krest in line with the throughput needs and optimizing dApps.
  • How many transactions are there in total? This is another helpful metric for looking at scaling as well as assessing the network’s overall use. 
  • How many dApps are there on the network? This one speaks for itself: Machine owners would want to have an overview of their options for earning with their machines through dApps, and builders coming up with new projects will see what niches are already covered.
  • How much are dApps and machines on peaq earning in rewards? The earning metrics will give dApp builders and machine owners a clear-cut view of their own prospective revenues.
  • How much are Machine NFTs bringing to their holders? Machine NFTs give their owners a cut in the value produced by machines from a specific machine pool. An overview of their rewards will help prospective holders make informed decisions when seeking one.
  • How much funds are sitting in the machine subsidization pools? Machine subsidization pools are meant to bring more machines to the network. An overview of their scale will help communities looking to buy machines get a sense of the funding they can hope to leverage. 
  • How much funds are heading into the Treasury? The Treasury’s holdings will be used for network maintenance and development, for securing future parachain slots, and for burning. All of these are directly related to the network’s future and the price dynamic of its tokens.

These metrics and more, for both krest and peaq networks once they go live on Kusama and Polkadot respectively, will be available to the entire peaq community through DappLooker’s platform. The platform’s powerful data visualization tools will grant the community a sleek and in-depth overview of the entire ecosystem, bringing the network’s transparency and accessibility to a whole new level. Any questions you might have will be answered in just a few clicks, with nothing but hard data powering the decisions of Economy of Things stakeholders.

Developers building on peaq will have the option to leverage DappLooker to build custom dashboards for their dApps. This will enable them to grant their users access to more data, helping them make more informed decisions within the dApp, while also attracting new users through a transparent overview of the services and earnings involved.

“We are thrilled to see DappLooker lead the first cohort of exciting projects joining the Ecosystem Grant Program. Its analytics platform will bring data observability within the peaq ecosystem to a whole new level and give the community a better overview of this space. With backing from peaq Foundation, DappLooker will help peaq map out the Economy of Things and make it as easy to navigate as possible.”

- Till Wendler, peaq’s co-founder

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