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.
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