RootData: Enhancing Data Readability of Crypto Assets and Developing a Premium Product for the Average Trader

RootData
6 min readOct 30, 2023

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Author: Rootdata

From Layer1 to DeFi to NFT, from BRC20 to RWA to social apps, hotspots of the fickle crypto market are shifting fast, leading to extreme explosions of data on and off-chain. The ensuing potential returns also fuel the demand from market players to systematically explore them.

RootData was born against this backdrop, the core team of RootData has more than five years of data and content production experience in the Web3 industry and is committed to bridging the gap between the on-chain and off-chain data and presenting a rich project/asset detail page to present changes in the Web3 transaction data flow and help users make high-quality decisions.

Since the start of internal testing in December 2022, RootsData has completed its first-stage exploration, which is the comprehensive integration of early offline transaction data of professional organizations. Taking the projects’ off-chain information as the core, RootData has split project fundamentals into 22 categories including basic introduction, investment and fundraising, team, tokens, news, labels, ecology, and regions. The data is not as standardized as on-chain ones (which can be exported, analyzed, and summarized by APIs), and requires painstaking efforts. This complexity thus leads to such a gap in the market, which is not successfully bridged by any off-chain data platform. So many users are still using the traditional data platform Crunchbase to check information on crypto projects. However, the uniqueness of the Web3 industry requires high analysis efficiency and accuracy which can not be secured by traditional data service providers.

This is where Rootdata comes in. Off-chain data is complicated and scattered, but its importance cannot be overstated. After processing millions of data, RootData has established a set of mature data capture, cleaning, summary, and recording processes, which is being integrated with AI. Ultimately each data will be manually audited before being listed to ensure the authenticity and accuracy of the data and to present the most important and highly credible data and information to readers. In addition, community users are also assisting in the construction of the database, and they have already accumulated more than a thousand pieces of content feedback to further enhance the content reliability.

Rich filtering options

As of early October, RootsData has included more than 200 labels, 9,000 crypto projects, 5,000 investors, 6,000 people, and nearly 6,000 pieces of investment, financing, and M&A information, almost covering all projects and investors in the Web3 industry. Any changes on transactions and projects are also updated in real-time, presented on highly composable UI. These content include “Unpublished Projects Invested in by Binance Labs”, “RWA Projects Securing Funding”, and “Polygon eco-projects with more than $1M Funding”.

Additionally, RootsData has created “Archives” to create lists of information about projects that share certain attributes, such as “2022 Crypto Dead Project List”, “Tsinghua University Alumni Founded Projects”, “Ethereum Foundation Grant Recipients” and “Crypto Projects with Singapore Digital Payment Licenses”. Each user can also create a portfolio archive to keep track of the projects they follow.

Some of the popular program archives

With these practical functions and a powerful data engine, RootData has won praise from many parties and has become the preferred asset search platform for many crypto asset investors and enthusiasts inside and outside the crypto circle. It now boasts more than 1 million users and is quoted by mainstream media such as the Wall Street Journal and Decrypt. Just like Coinmarketcap and Coingekco are bywords for price updates, Rootdata is now growing to be a byword for checking information on crypto projects such as financing information.

However, we know that RootData’s product form is still far from ideal, and that leaves room for further improvement to meet user needs for trading and research. So the second phase of exploration is imperative.

Indeed, the sector of on-chain data features intense competition. We have witnessed a flood of on-chain data platforms emerging with more apps and more user behavior rising on-chain. These platforms include the NFT data platform, portfolio tracking platform, and whale address monitoring and tracking platform, which are competing for users’ attention.

According to RootData, while the overall financing amount of the industry continues to shrink, the financing amount of the Tools and Information Service Sector has continued to increase rapidly by 90% for two consecutive quarters since the first quarter of this year, ahead of all other main sectors. Among them, most of the projects that have received larger financing amounts are on-chain data platforms, including Cymbal, CoinScan, and Web3Go. The prosperity is a sign of market recognition of the commercial value of on-chain data.

One obvious sign is the dramatic increase in the spread of address labels. In addition to common exchange addresses, the on-chain addresses of many market makers, project treasuries, and well-known investors have been exposed to and closely watched by the market. Their move is also tracked by various media outlets in real-time. What can explain this is that the crypto secondary market is still driven by the dynamics of major investors and market sentiment featuring a relatively centralized token distribution. That is to say, the dynamics of these representative addresses could have a heavy impact on token prices, thus being watched by the market.

With address information being more and more transparent, it has been more and more hard for all parties to win the game. In the past, most of this information was hidden beneath the market. Still, since these addresses become partly public, the information processing channels and efficiency become key to the game. However, many current on-chain address intelligence platforms do not offer highly readable content, and many users have to resort to media or KOLs for more information.

RootData believes that the combination of on-chain and off-chain data will elevate user experience to a new level. Truly effective data tracking is built on an understanding of asset fundamentals, not just changes in transfers.

Additionally, RootData believes that as the overall Web3 market continues to grow in compliance and robustness, more users care about structured asset fundamentals and key transaction data.

RootData’s core goal in the new phase is to create a one-stop product for users to track their asset portfolio data and other major investors’ data. It aims to present information in different dimensions including institutions, projects, and Smart Money, enabling RootData users to not only master the project’s fundamental information, but also understand the dynamics including whale address moves, and the number of certain token holders. Any online and offline changes in the portfolio of assets of any address (individual, investment institution, project, Smart Money) will be updated in real-time.

Through the combination of on-chain address information and the existing project database, users can view any address and obtain the introduction of the assets related to the address, news, changes in the whale, and other information. The reading experience and efficiency of the on-chain data can be greatly improved, which is more conducive to users to capture more trading signals and make investment decisions. This would be a revolutionary enhancement of user experience and interaction process especially for transaction-oriented users.

The huge amount of on-chain and off-chain data contains great treasure but the crypto market lacks a good enough “shovel” to dig it out — Rootdata will be an answer. RootData will focus on the design and development of its product to provide efficient, accurate, and comprehensive asset information to more users inside and outside the Web3 community with its institutional-level product standards, as well as provide corresponding tools for users to discover market signals, and to become a productive product for Web3 active users to trade and track assets.

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RootData
RootData

Written by RootData

Rootdata is committed to providing a comprehensive, structured and visual crypto project database to reduce information barriers in the industry.

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