From June 28th to July 8th, Kryptview went through its second Alpha phase. Throwback to these 10 intense DYOR and platform-proofing days.
During Kryptview’s Alpha 2.0, 1800 registered users could access the platform to consult token pages, as well as score new tokens and review the work of their peers for validation. Up until the very last minutes, Alpha Testers showed unbelievable enthusiasm! Altogether, we gathered 4000+ scorings, covering 1860 unique tokens! The leaderboard proudly closed with 11 Master III, 4 Master II and 9 Master I !
Congratulations to all participants, the competition was fierce!
As a practice for our model of Research-to-Earn, we gamified the participation with the introduction of a massive prize pool. Different rewards were accessible to contributors, depending on their final rank at the closing of the Alpha. The winners were announced during a live community chat in our Discord and we are currently proceeding to the distribution of prizes all over the world!
WE’RE ALPHA TESTERS-APPROVED!
We’re so proud to report a net promoter score exceeding 9/10! 61% of Alpha Testers used the platform almost every day. They further testified of several key points underlying, to their mind, the unique value proposition of Kryptview on the market.
Here’s a break-down of their enthusiastic feedback.
1/ Great concept
2/ Discovery of new tokens
The Research-to-Earn model encourages contributors to enjoy the process of fundamental analysis, and pushes them to seek unknown projects to score.
3/ Improve DYOR skills
Our community-driven token-rating platform also provides structure for the DYOR, thanks to a research wizard inspired by professional due-diligence frameworks. This methodology was really appreciated by the community, who acknowledged a noteworthy improvement in their fundamental analysis and critical decision-making skills.
4/ Great UI design
Most users appreciated the thoroughly-thought UI (ease-of-use rated at 8.71/10), acknowledging these aspects can make the difference in product adoption, especially within a gamified experience.
Finally, we were surprised and incredibly touched about a category of feedback that we were not really expecting. Working hard, often long hours, sometimes frustratingly against invisible hurdles, passionately — not to say obsessively — around the clock and nose in the grindstone, we might have forgotten that the community was truly there. Not only for the fun they can receive, but also for the support they can provide. The dedication we put in our daily work is so natural that we didn’t expect it to be noticeable and noteworthy. Yet it was, and we can’t thank the Kryptviewers enough for expressing their gratitude.
LESSONS LEARNT FROM THE ALPHA 2.0
But let’s not forget the prime purpose of an Alpha; obviously, things were far from perfect. We learnt a lot… And we are the kind of people who love to be proven wrong, because from there one can only grow further and stronger.
The overall speed of the platform needs to be improved. And we have already brought drastic improvements to the UI. A slow start also taught us not to underestimate the necessity of proof testing previously faultlessly running code…
Some of the testers’ further feedback were quick fixes, while some other weaknesses, exposed throughout this phase, required drastic decisions that would affect not only the product itself, but also the community. Mainly, the opening of the Alpha to everyone revealed unsuspected stakes and fallouts: namely treachery, deceit and fraud. All in all, it’s a chance we encountered such behavior during our Alpha, because we are much aware that we won’t be exempt from them after launch. If you wanna build a truly decentralized rating platform, you’ve got to protect yourself from such exposure. So we built anti-cheating mechanisms, some of which were already deployed within the last testing days.
We encountered cases of plagiarism and poor contributions, rendered possible by a weakness of the review system. We repaired for this vulnerability by introducing several mechanisms, including:
- the increase in the percentage of approval needed for validation.
- the incentivization of scoring novel tokens thanks to a gradual XP multiplication factor directly linked to the time since the latest scoring on that same token. The older the latest scoring, the higher the points potentially earned!
- the increase in the weight of vote with higher rankings. Expert analysts thus safeguard the quality of the validated and published content, by ensuring a serious and controlled gating to higher rankings.
- the computation of a similarity score, that automatically detects plagiarism and removes experience points (XP) as a systematic punitive measure. Suddenly it doesn’t appear that appealing anymore to unlegitimately “use” the scoring from other contributors.
- the introduction of a slashing system, whereby experience points (XP) can be lost in case of poor contributions.
With such modifications, the stake of contributions is rendered much higher: the perspective of losing points (and rewards) rebalances the incentive for honest participation, while cancelling out the attractiveness of spamming the platform to grind points without proper value creation.
We are continuing to improve the platform with those important modifications decided as a result of the Alpha. In the meantime, we launched several initiatives to produce a significant amount of content. Our goal is to promote financial and Web3 literacy within the community throughout the summer through different tools, including the Kryptview Insight Series. This collection of Twitter Spaces welcomes KOLs in Web3 and adjacent domains, which are very little spoken about but without which the ecosystem could not exist…
And while doing so, we are advancing on the roadmap… Dates and future milestones are going to be announced soon! Join us on Discord to make sure you don’t miss out!