LeoFinance's #1 Key Performance Indicator (KPI)
LeoFinance has evolved so much since our inception. Over the past ~3 years, we've evolved from a simple second-layer blogging app on Hive into an entire Web3 Ecosystem of our own.
We've managed to release applications and extensions onto:
- Hive
- Ethereum
- Binance Smart Chain
- Polygon
This ecosystem continues to expand and this expansion often begs the question:
"What is the focus of the LeoFinance Project and Ecosystem?"
LeoFinance's #1 Key Performance Indicator (KPI)
In one of our team meetings yesterday, we were talking about LeoFinance and our KPIs - the indicators we use to judge the performance of LeoFinance - as a team, we use these KPIs to decide on which directions to take the project. Where to focus our development attention, etc.
In this meeting, we thought about the question: if we had to choose just 1 KPI that could be the core focus of our entire LeoFinance Web3 Ecosystem, what would it be?
Is it price? Is it # of active wallets? Is it new account signups?
Price, as we all know well, is not a great indicator of performance. It's highly volatile and subject to a lot more influences than progress, technical development and growth.
The # of active wallets isn't a bad indicator. It shows us how many people transact and engage with the LEO, CUB and POLYCUB tokens. Although, it doesn't capture much of the community power that we have: blogging, interaction on the site, etc.
This led us to the whitebook. The mission statement of LeoFinance is to: Expand the Width and Depth of our community.
Monthly Active Users (MAUs) is the leading Key Performance Indicator for the LeoFinance Ecosystem. How we measure this is the tricky part.
If we measure just authors posting from https://leofinance.io, then we miss all the people who are lurkers: commenting and upvoting in the shadows instead of actively writing content.
A New Mission for LeoDesktop and LeoMobile
We pushed out a tweet yesterday talking about the mission statements for LeoDesktop and LeoMobile:
Right now, we are actively working on V1 of LeoMobile (the full-release, app store version). Coinciding with that is the ultimate merging of the LeoMobile Framework with LeoDesktop (https://leofinance.io).
LeoDesktop is aimed at building the best possible content creator experience. The merging of LeoMobile and LeoDesktop allows us to make updates to both simultaneously.
With this in mind, we'll still have 2 separate (but closely connected) dev teams working on LeoDesktop and LeoMobile.
The idea here is that we'll be able to roll out updates at an unprecedented pace. We're hiring on new devs left and right (two new devs are being onboarded - 1 for solidity and 1 for LeoMobile) as I'm writing this post.
The Future
The users who are using LeoFinance on their computers are the more hardcore users. The ones who sit down at their laptop or desktop and start writing posts and publishing them to earn rewards.
The digital landscape has shifted over the last decade and now, most content consumption happens on Mobile.
This is why LeoDesktop is aimed at the content producer and LeoMobile is aimed at the content consumer.
@taskmaster4450 isn't going to write 6-10 articles per day on his mobile device. Similarly, @scaredycatguide isn't likely to sit at his desktop to read LeoFinance content all day. He's out there hustling at conferences all the time and needs to stay mobile but also stay up-to-date on the latest LeoFinance content!
So keeping in mind the leading KPI that we discussed and the future of LeoDesktop and LeoMobile, it's become extremely important to start properly tracking the Monthly Active Users and doing everything in our power to grow this metric.
The path forward is this:
- MAUs will now be tracked based on monthly active content creators AND content consumers
- LeoMobile V1 and LeoDesktop Re-Deployed will be released in Q2, 2022 and these are a major leap forward to mass adoption
- Everything LeoFinance does - be it CUB, POLYCUB, Leo on Tik Tok, etc. - is all aimed at one core goal: increase this KPI (more monthly active users)
While there are many other KPIs - like active wallets on CUB, active wallets on PolyCUB, TVL held in our DeFi platforms, etc. - the leading KPI will always be social-based.
The more MAUs we have, the more lions we have in this community. The community is our layer 0 and holds the power to create massively exponential growth.
If you are an active member of the LeoFinance community and hodl stake in LEO, CUB or POLYCUB, you now have a mission statement:
Expand the width and depth of the LeoFinance Web3 community by driving the KPI upwards. Track the KPI in our weekly stats posts and watch as we grow it. Find ways to participate and find new community members - people to create OR consume content on LeoFinance.
LeoFinance is a blockchain-based Web3 community that builds innovative applications on the Hive, BSC, ETH and Polygon blockchains. Our flagship application: LeoFinance.io allows users and creators to engage and share content on the blockchain while earning cryptocurrency rewards.
Posted Using LeoFinance Beta
It is really nice seeing the progress occur on a daily basis which is really interesting and attractive to benefit from as the expansion is moving in a positive state.
Posted Using LeoFinance Beta
I agree that active wallets aren't a bad indicator to figure out the growth and keep track. If a wallet is active then it means the Leofinance is growing as a project and growing more active wallets shows the spike in the adoption and increase in the market cap. Great idea.
Never thought this way that active wallet is also one of the KPIs to measure the growth and current strength in the market. This is great learning for the day and this is why I love the leofinance team as well as the community where there are a bunch of new things to learn and grow. Leo ecosystem has proven a great track record of growth and I still think that this is just the beginning and the best of it is yet to come.
Great progress the leofinance team has achieved in the past 3years I must say with it's extension across several blockchain. It can only better. The price may not be what many expect but it is just a matter of time before that catches up. The move to roll Leodesktop is also good one. Straight up mission statement from the team. Trust you all to deliver
Posted Using LeoFinance Beta
It'z glad to know the mission statement of leofinance project as a user of leomobile and thump up to the team for the great job in achieving the aim of the project and introduction of KPI and new features of the project.
Posted Using LeoFinance Beta
This very great that we are seeing the progressive improvement on the Daly basis which is very good on this expansion on the Leofinance. Kudos 👍
.
I agree that both the desktop version and the mobile version, both should work together. Of course, for everyone it is much simpler or easier to make publications from a PC! Undoubtedly this project will attract more users and boost its development constantly!
The progress and expansion of the project is amazing with the introduction of the KPI as part of new innovation of the project and also thanks for sharing the mission statement of the project with the community... kudos to the team
Also think price may not be a great indicator. The no of sign ups and active wallet thus far shows the community has increased. With time has the brand recognition strengthen, we will be at a great state where we deserve to be. As long as the development and expansion continues, the growth in terms of users would be massive
Posted Using LeoFinance Beta
Recently joining this community has opened my eyes to More that can be achieved.
I am happy the mission statement in some ways aligns with my long term goal - massive onboarding of new users and mentoring them.
I have had issue with account creation for the newbies until I saw the Twitter gateway.
Hoping to contribute to the community development in my little way despite my busy days in the hospital.
You guys are doing great, proud to be a member here. Willing to assist at any point.
Posted Using LeoFinance Beta
We hope to have Sign in with Facebook coming SOON
Posted Using LeoFinance Beta
Width and Depth
My mission is to add more to these two in the upcoming years. I personally believe in what you guys are doing. I live and breath social media but this is on a whole another level. Finally I have found my tribe. :') So happy and excited to be a part of this exciting future. Let's kill those KPIs guys!
I will soon launch a campaign in India to onboard more talented folks on Leo Finance & Hive. That's the least I can do to contribute. Thanks to Indian Government for making it harder by introducing insane taxes but you are not gonna stop me. 🙈
#WAGMI
Posted Using LeoFinance Beta
Strong mission statement from the team. Quite the no of expansion in the past few years. One can only imagine how good the future would be. The desktop for Leo sounds good. Trusting to see we get the attention and growth we need in no distant time.
Posted Using LeoFinance Beta
KPI is an interesting concept and as you indicated, it can be a little more nuanced especially when compared to to desktop vs mobile. I do believe that interaction and commenting on posts should be considered on both platforms. Just upvoting is not enough as many have certain posters on auto vote. Commenting on the other hand is organic and one true indication of real interaction.
Posted Using LeoFinance Beta
Lol, it’s becoming hard to keep up with all the developments right now. The team is doing great
I can't wait for both for LeoMobile and Leodesktop, although I think I'll be team Leomobile for quite a long time because I'm fixed to using my mobile phone for everything i do these days. But my tablet shpuld be able to switch to Leodesktop if I ever need to. Can't Wait!!!!
That's a good way to track progress. Active wallets is useful as you can track the number of polycub holders. I was looking at the polycub holders earlier, it was nearly 200. I think when polycub was launched it was about just over 120. That's an increase of 50%. That's is almost 50% gain, it is impressive !
Posted using LeoFinance Mobile
Building my portfolio is a right choice because never seems to seize on leo finance and the growth is inevitable
Posted Using LeoFinance Beta
Nice one so far and good to see how well the community as gone in the areas of expansion so far
Posted using LeoFinance Mobile
Massive progress so far and good to see the level of advancement the community as attracted in the course of the year
The decision to use the MAUs as the KPI is undoubtedly an intelligent one. With good analytics of the MAUs, the LF team can have a good overview of the direction of the over Leo projects which can also provide a clue to the health of other indicators.
A very good performance from the team so far and good to see the progress attain too
This is great progress from LeoFinance and its entire team. What an awesome achievement just within 3years. I can't wait to see and use the LeoDesktop and LeoMobile. I spend much of my time on my pc and I surely love to use LeoDesktop on it. While I also use the LeoMobile on my smartphone.
Weldone @leofinance and its entire team. Thumbs up 👍.
I trust the community especially how everything is moving fine in the community. New things are coming up every day.
Posted Using LeoFinance Beta
It good to see that the thinking in leofinance and the future is wide. Thinking of Having leodesktop and leomobile shows that their is a place for everyone who wants to engage with leofinance.
Posted Using LeoFinance Beta
Wow! This is indeed a spectacular move made that will push the leofinance community far. Choosing MAUs as the core KPI is really really a wise choice, because it will help the community in evaluating it's progress as compared to just the number of sign ups recorded. Also the idea of considering both the content consumers and content creators through leomobile and leodesktop is wonderful as most persons would prefer reading and getting informations here instead of creating posts, and including them as active users will also help determine the strength of leofinance.
Posted Using LeoFinance Beta
We can all contribute to expanding Leo Finance in every corner of the world. Whether it is Reddit, Twitter or any other social media you can always take a step forward and contribute to the growth of this project and ultimately to the success of it and yourself. I feel that we have all grown with Leo Finance, so why should we stop now? Expand, expand, expand!!!
Posted Using LeoFinance Beta
Maybe you should put the customer support on the first place. More people are complaining every day.
Posted Using LeoFinance Beta
The team is working through tickets as fast as possible. Currently, we have 3 people working tech support but with the launch it is clear that at least 2 more are needed. I believe this is being worked on and new people are being onboarded to tech support roles
Good to hear that.
Posted Using LeoFinance Beta
This really needs to be resolved once and for all. Otherwise you will lose users as fast as you onboard them.
Posted Using LeoFinance Beta
Very solid. This is the step in the right direction for a thriving community. This will give focus and help guide thye tracking of growth.
This is very true. I personally find it difficult to use the LeoMobile because I create content. It's better done on my PC.
Very apt.
Posted Using LeoFinance Beta
That's me, but I'm also mobile all day as well. I'm mostly answering comments on my smartphone but when it comes to content creation I'm a desktop guy.
Dumb question: Is Leo Mobile project blank or the mobile app we already have?
Posted Using LeoFinance Beta
I love the direction this is going and I totally agree that this should be the number one indicator used to measure growth and development. More users = more exposure, content, rewards, activity, upvotes, ideas, knowledge, etc., etc. There really is no downside to growing this metric.
One question: are there any plans in the works to have like a ticker on the front page? Or even better, a customizable table where you could put 4 or 5 of your favorite coins and track them?
It could have Bitcoin, Ethereum, Leo, HIVE, and the CUBs as standard and then maybe the ability to add 4 or 5 of your own. SPS, RUNE, whatever.
I'm not a coder so I have no idea how much work that would be to implement, but it seems to me that if we're the LeoFINANCE community it would be nice to hit people immediately with financial data most users will be interested in. Plus, it would give everyone a reason to be checking their Leo app multiple times a day.
Just thinking out loud. Like I said, I'm sure this wouldn't be a quick add, but I definitely think it would be worth it in the long run.
Posted Using LeoFinance Beta
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Exciting times and very happy to hear that new team members are been onboarded. The Leo finance engine is starting to purr along nicely. Looking forward to all the bells and whistles.
LeoFinance has successfully connected Hive to the rest of the blockchain world.
This is the most underrated aspect of the community's foray into DeFi.
The future of crypto will be how interconnected with other major blockchains everything is.
How easy it is to move funds and interact cross-chain without permission.
Something that the LeoFinance and Cub ecosystem makes possible.
Hive thanks you for your service to our blockchain.
(...oh, just ignore the downvotes haha.)
Posted Using LeoFinance Beta
Why MAU specifically instead of weekly active users? Is this to better capture those lurkers who might occasionally interact but mostly just read & skim through content?
Posted Using LeoFinance Beta
There is great value in both platforms for the exact reasons you state.
Posted Using LeoFinance Beta