Exploring the Products and Ecosystem Behind Port3's Social Mining

10/25/2023·1years ago

On October 23, the decentralized social platform Port3 announced an investment from DWF. With the previous round of financing, Port3's total financing has reached $10 million. This is considered high for an application-oriented product.

In addition, Port3 has also received donations from Binance Labs, Mask Network, and Aptos. As a highly anticipated social project, since the launch of social mining, Port3 has had over 15,000 participants who have collectively published 63,147 tweets for mining, with over 1.67 million interactions and over 200 million readings.

Behind the social mining on Twitter, what kind of product and ecosystem layout has Port3 built, and why has it received consecutive favor from major institutions? veDAO Research Institute will take you on a journey to find out!

Port3 Network Social Data Layer

Port3 Network is building a social data layer with broad accessibility and excellent functionality for Web3 application scenarios by standardizing and aggregating on-chain and off-chain data. Its ultimate vision is to become the core social data gateway for Web3.

The infrastructure of Port3 Network's social data layer implementation is divided into three key stages: data collection, data aggregation, and data application.

Data Collection

Different from other blockchain products, Port3 Network connects with the public chain ecosystem on one hand, and on the other hand, it integrates with Web2 platforms such as Twitter, Discord, Telegram, and even Github and E-mail.

Based on this, Port3 Network has obtained comprehensive on-chain and off-chain data collection, including social user identity data and developer behavior data, by bridging Web2 and Web3 to provide a sufficient data foundation for the Web3 ecosystem.

Data Aggregation

Based on the multi-source data collection, Port3 Network processes and forms usable aggregated data. A large amount of raw data first undergoes precise data cleaning, which involves deleting duplicate content and correcting inaccurate information. The multi-source data collected from various channels is integrated during the aggregation stage to obtain a more comprehensive perspective. The aggregated data is then redefined and organized to form structured data. This structured data undergoes in-depth refinement and transformation to ultimately evolve into standard data formats suitable for analysis, such as specific indicators, identity labels, or other convenient data formats for applications.

Data Application

This stage mainly provides necessary data support for upper-layer applications to ensure diverse needs of project developers and end users are met.

Based on the aggregation of Web2 and Web3 data, Port3 Network's social data layer strives to achieve Web3 digital identity system in a secure and private manner. This digital identity system not only connects users' various on-chain and off-chain accounts, but also aggregates users' behavioral data on these platforms, thereby better achieving the recognition and verification of Web3 user identities.

Web3 Task Platform SoQuest

In the Port3 Network product system, SoQuest is widely known. SoQuest is a Web3 task platform, and the popular social mining on Twitter is part of the SoQuest ecosystem.

Spaces

Each space is a Web3 operating entity, and optional spaces include NFT, DAO, DeFi, wallet, Gamefi, exchange, community, infrastructure, VC, Web3, KOL, and metaverse. Operators of various projects, platforms, communities, VCs, and even KOLs can create spaces in SoQuest to operate projects, communities, and more. SoQuest space operations support four types of activities: marketing activities, member recruitment, live streaming, and Gig.

Marketing Activities (Quests)

Space operators can create marketing activities, initiate on-chain, off-chain, or other customized tasks, and set rewards for completing tasks. Off-chain tasks include answering questions, joining Discord, downloading specified apps, following spaces, inviting friends, submitting proof images, following Twitter, joining Telegram, visiting specified websites, and more. On-chain tasks include holding specified tokens, NFTs, or participating in interactions of specified applications on designated networks. Marketing activities can be open to everyone, or have thresholds for participation, such as specifying token or NFT holders, whitelists, real-name verification, or IP address whitelists.

In addition to creating, editing, and deleting marketing activities, SoQuest supports activity duplication for easier management. SoQuest has introduced an AI program, allowing operators to use AI programs to create innovative cover images for activities.

Member Recruitment (On-Boarding)

SoQuest spaces can create different member recruitment activities to recruit new users for the space and segment community roles. SoQuest space supports data analysis and download of on-boarding activities, which is beneficial for space operations and management.

Live Streaming (Twitter Space)

Live streaming activities not only support Twitter Space, but also FamLive live streaming. Operators can set the duration required for users to join and receive POAP NFTs, which can effectively incentivize user participation in live streaming activities.

Gig

Gig is a temporary task where users are hired to perform specific work and receive predetermined rewards upon completion.

SoQuest Space Data and Related Tools

SoQuest space data provides operators with more operational tools. Among them, the influence of SoQuest space is calculated from four dimensions: space followers data, TVL, ecosystem partners, and social index.

Space activity data showcases space operational status through four dimensions: PV (page views), UV (unique visitors), participants, and on-chain users.

SoQuest provides space operators with participant number trend changes, user tag management, and more. SoQuest also supports user data download and API tools.

Activities

Operators can initiate various activities in their respective spaces, and users can participate in these activities. Port3 provides technical support and verifies user completion of tasks. After users complete various tasks, they can receive corresponding rewards, which can be tokens, NFTs, whitelist access, and more.

Mining

SoQuest mining rewards a total of 500 million gems. Among them, 60 million (12%) are used for task mining rewards, 60 million (12%) for social mining rewards, 350 million (70%) for trading mining rewards, and 30 million (6%) for workflow mining rewards.

Current Status of SoQuest Ecosystem

Currently, the SoQuest ecosystem has over 1,000 spaces created. The most popular is the Port3 Network space, with 75,000 followers, 145 activities launched, and a total of 270,000 participants. Next is the BNB Chain space, with 10,000 followers, 39 activities launched, and a total of 7,730 participants.

As of the writing of this article, the SoQuest ecosystem has launched nearly 83,000 activities, with over 3 million participants collectively receiving over $350,000 in rewards. The most popular reward token is USDT.

SoQuest task mining and social mining have been ongoing for 291 days, while trading mining and workflow mining have been ongoing for 92 days and 75 days, respectively. Over 220,000 people have participated in task mining, with over 2 million gems mined, leaving 66.06% remaining. In the past two weeks, nearly 37,000 people have participated in social mining, with a total of 2.54 million gems mined, leaving 95.76% to be mined. 3,565 people have participated in trading mining, with less than 2.7 million gems mined, leaving 99.24% to be mined. Only 4 people have participated in workflow mining, leaving 99.93% to be mined. A total of 25.6 million gems have been mined, leaving 94.88% to be mined.

QaaS Components

QaaS, Quality as a Service, is a component introduced by SoQuest. SoQuest space operators can embed QaaS components into their project's web pages, seamlessly integrating task and reward management for projects, including monitoring and verifying user activities, and distributing rewards. It also provides user leaderboards and analysis support for all user activities. In the data dashboard of SoQuest space, operators can better grasp project operational data.

BQL

BQL, Blockchain Query Language, is a language for automatically executing complex on-chain operations. By using BQL language, operators can write a series of on-chain operations into a program, and users can execute a series of complex operations by simply clicking to run the program. This provides convenience for operators to facilitate user participation.

Each time a BQL template is run and verified, users can complete workflow mining and receive 10 gems.

Other Port3 Products

The official Port3 documentation mentions two other products—SoQuest Robot Matrix and SoGraph.

SoQuest Robot Matrix

The robot matrix is used to analyze and detect all social behaviors related to projects collaborating with SoQuest. On-chain, robots join Telegram and Discord communities to execute off-chain tasks. On-chain, robots join multiple public chains to provide token quotes and market sentiment analysis. According to Port3's official documentation, "The SoQuest robot matrix covers over 5,000 Web3 communities, with over 10 million users on Discord and over 4 million users on Telegram."

SoGraph

SoGraph is an analysis platform that tracks token market trends, market sentiment, KOL interactions, and other data, combining on-chain data and applying AI algorithms to convert them into useful market-related indicators and sentiment indicators.

Port3 Background

Team

According to LinkedIn, the Port3 team consists of 9 core members. The skills, academic backgrounds, and work areas of team members, including core contributors, are as follows:

Co-founder \u0026 CEO - Max D.

Bachelor of Electrical and Electronic Engineering from Northeastern University in the United States, skilled in project management and negotiation, previously served as Business Development Manager at Apple, Product Manager at ZB.com, and business consultant for DeFi product Astarter on the CARDANO chain.

Core Contributor - Qian Wang

Master of Quantitative Finance from ETH Zurich, skilled in statistics, financial analysis, and data mining. Previously worked in quantitative analysis research at Alpiq and J.P. Morgan, and as a data scientist at UBS Group.

Operations Director - Gustaf Munro

Bachelor of Psychology from Stellenbosch University, skilled in IT operations, co-founder and former CEO of Pendragon Quest.

Financing

Seed round: led by Jump Crypto and KuCoin Ventures.

Second round: participated by EMURGOAdaverse, Accelerator, and gate_labs, totaling several million dollars.

Total financing reached $10 million.

Conclusion

Port3 Network has built a data gateway for the Web3 ecosystem through the aggregation of Web2 and Web3 data in the social data layer, providing Web3 digital identity recognition and verification for users. Based on this Web3 digital identity system, the SoQuest task platform provides users with opportunities to participate in various tasks and receive rewards.

On the other hand, the SoQuest platform provides an operational platform and tools for project, platform, community, VC operators, and even KOLs. Operators can initiate various activities on the SoQuest platform, utilize data and traffic aggregation on the SoQuest platform, and achieve data growth. SaaS and BQL provide more convenience for operators.

veDAO is a one-stop platform for AI-driven Web3 trend tracking and intelligent trading, combining market trend analysis presented by big data with trading depth, dedicated to creating a more suitable Web3 AI exchange for Web2 and Web3 users to buy, sell, and invest.

veDAO has a leading AI language model composed of on-chain analysis and sentiment indicators, providing proactive data support for users, combined with intelligent, fast, secure, real-time monitoring of AI trading functions. As of now, the platform has been heavily used by over 37,000 users, connected with 22,000+ Web3 vertical industry Twitter KOLs, and has a professional committee of 180+ institutions. The platform's project library exceeds 8,300, and there are 220+ scouts continuously adding Web3 projects with veDAO.

veDAO is continuously upgrading at a bi-weekly update pace, determined to build a bridge from Web2 to Web3, and become the preferred platform for Web2 and Web3 users to search for projects, find hotspots, view trends, and make primary investments and secondary trades.

Website: http://www.vedao.com/

Twitter: https://twitter.com/vedao_official

Facebook: bit.ly/3jmSJwN

Telegram: t.me/veDAO_zh

Discord: https://discord.gg/NEmEyrWfjV

🔴Investment carries risks, projects are for reference only, please bear the risks on your own🔴