DApps on STEEM - Analyzing Fundition

Fundition is a next-generation, decentralized, peer-to-peer crowdfunding and collaboration platform, built on the Steem blockchain.

<p dir="auto"><em>Source Fundition.io <p dir="auto">With SMT's early next year, Developers have the opportunity to launch their app on STEEM and maybe even share in some kick starter finance from Steemit Inc. <p dir="auto"><span><a href="/@fundition">@Fundition has been in receipt of funding from Steemit Inc by way of delegation from <a href="/@misterdelegation">@Misterdelegation to the tune of 1M SP. As one of the newer apps on the block, this is the first analysis I have published on data around Fundition, and I think it is a project worth showcasing.   <h2>Aim of Analysis <p dir="auto">• Obtain a general feel for the activity levels on fundition <p dir="auto">• Find out how much was paid out in rewards by fundition  <p dir="auto">• Find out how much posts to fundition earned in total <p dir="auto">• See who the movers and shakers are <p dir="auto">• Correlation tests on voting habits <p dir="auto">• User profiling <h2>Scope of Analysis <p dir="auto">The analysis was carried out for the month of October 18.  Data from the STEEM blockchain and Coinmarketcap was used and full details of the queries can be found at the bottom of this post. <h2>Findings <p dir="auto"><span>• 36% of fundition posts received a vote from <a href="/@fundition">@fundition.  <p dir="auto"><span>• <a href="/@fundition">@fundition votes make up 63% of the funding earning on fundition posts. <p dir="auto">• Over US$23K in gross funding was raised in October. <p dir="auto">• There is no correlation with the voting habits of fundition . <p dir="auto">• The user based voted on has relatively the same profiling as the user base posting with the exception of the age of the account which deviates slightly. <h2>Activity on Fundition <p dir="auto"><span> <img src="https://images.hive.blog/768x0/https://cdn.steemitimages.com/DQmSCtDURv9wNYJykvXPkKSWRNVGKPnTMqitnVFbxDNzcKr/2.png" srcset="https://images.hive.blog/768x0/https://cdn.steemitimages.com/DQmSCtDURv9wNYJykvXPkKSWRNVGKPnTMqitnVFbxDNzcKr/2.png 1x, https://images.hive.blog/1536x0/https://cdn.steemitimages.com/DQmSCtDURv9wNYJykvXPkKSWRNVGKPnTMqitnVFbxDNzcKr/2.png 2x" />  <p dir="auto">1283 posts were made by 315 authors received 2061 comments from 410 authors and the comments grossed a payout of SBD$58.89 from 716 votes. <p dir="auto">The posts also netted over 120K votes with a gross payout of SBD$23.69K. <p dir="auto">In US$ this equates to $23.57 in gross funding <p dir="auto"><span><img src="https://images.hive.blog/768x0/https://cdn.steemitimages.com/DQmT2tWo249hxjHA3aSAZpeSUuRFvUXSS7R3JAKugKTMVwN/3.png" srcset="https://images.hive.blog/768x0/https://cdn.steemitimages.com/DQmT2tWo249hxjHA3aSAZpeSUuRFvUXSS7R3JAKugKTMVwN/3.png 1x, https://images.hive.blog/1536x0/https://cdn.steemitimages.com/DQmT2tWo249hxjHA3aSAZpeSUuRFvUXSS7R3JAKugKTMVwN/3.png 2x" />  <h2>Votes From Fundition <p dir="auto"><span> <img src="https://images.hive.blog/768x0/https://cdn.steemitimages.com/DQmZjf8PRcQp3eL34VMP62Q4JMHVDnhxFisy4jGA7yrLg37/4.png" srcset="https://images.hive.blog/768x0/https://cdn.steemitimages.com/DQmZjf8PRcQp3eL34VMP62Q4JMHVDnhxFisy4jGA7yrLg37/4.png 1x, https://images.hive.blog/1536x0/https://cdn.steemitimages.com/DQmZjf8PRcQp3eL34VMP62Q4JMHVDnhxFisy4jGA7yrLg37/4.png 2x" />   <p dir="auto">80 distinct Authors received in total 463 votes from Fundition in October.  The average vote weight was 66.65% giving a vote of approx. 32 SBD.  In total Fundition have funded 14.84K SBD by way of upvotes to different projects. <p dir="auto">If we look at this in US$ we can see that fundition have funded projects to the tune of US$14.74K <p dir="auto"><span><img src="https://images.hive.blog/768x0/https://cdn.steemitimages.com/DQmbUPqeH8hH6jkUi8cddqT8xUvtbThJgwJHGrWfFYMMewy/5.png" srcset="https://images.hive.blog/768x0/https://cdn.steemitimages.com/DQmbUPqeH8hH6jkUi8cddqT8xUvtbThJgwJHGrWfFYMMewy/5.png 1x, https://images.hive.blog/1536x0/https://cdn.steemitimages.com/DQmbUPqeH8hH6jkUi8cddqT8xUvtbThJgwJHGrWfFYMMewy/5.png 2x" />   <p dir="auto"><span>36% of fundition posts received a vote from <a href="/@fundition">@fundition.  <p dir="auto"><span><a href="/@fundition">@fundition votes make up 63% of the funding earning on fundition posts. <h2>Movers and Shakers <p dir="auto">The table below shows the top earning on Fundition <p dir="auto"><span> <img src="https://images.hive.blog/768x0/https://cdn.steemitimages.com/DQmbks2KAM5qdwBbav2AfDz67GBXFEQJG8SvpyBPABhLmUC/6.png" srcset="https://images.hive.blog/768x0/https://cdn.steemitimages.com/DQmbks2KAM5qdwBbav2AfDz67GBXFEQJG8SvpyBPABhLmUC/6.png 1x, https://images.hive.blog/1536x0/https://cdn.steemitimages.com/DQmbks2KAM5qdwBbav2AfDz67GBXFEQJG8SvpyBPABhLmUC/6.png 2x" />  <p dir="auto">The most active posters are shown in the table below <p dir="auto"><span> <img src="https://images.hive.blog/768x0/https://cdn.steemitimages.com/DQmSWvYUcqs63P6WUmEZrRukJcHXbbhNmuqbnSnMxhxpNwm/7.png" srcset="https://images.hive.blog/768x0/https://cdn.steemitimages.com/DQmSWvYUcqs63P6WUmEZrRukJcHXbbhNmuqbnSnMxhxpNwm/7.png 1x, https://images.hive.blog/1536x0/https://cdn.steemitimages.com/DQmSWvYUcqs63P6WUmEZrRukJcHXbbhNmuqbnSnMxhxpNwm/7.png 2x" />  <h2>Correlation tests on Fundition Voting <p dir="auto">A series of tests were carried out to see if there is a correlation between fundition voting and user activity/profile. <p dir="auto">The first test is to see if there is a correlation between the Average voting weight used by fundtion and the % of app posts submitted per author that received a vote.  A correlation coefficient of 0.058 was found.  Therefore we can establish there is no correlation between the voting weight and the % of your posts that get approved. <p dir="auto"><span> <img src="https://images.hive.blog/768x0/https://cdn.steemitimages.com/DQmajntpmLPStoNotU4z5PSHPWgy1ognoVahvss6UntXpJa/8.png" srcset="https://images.hive.blog/768x0/https://cdn.steemitimages.com/DQmajntpmLPStoNotU4z5PSHPWgy1ognoVahvss6UntXpJa/8.png 1x, https://images.hive.blog/1536x0/https://cdn.steemitimages.com/DQmajntpmLPStoNotU4z5PSHPWgy1ognoVahvss6UntXpJa/8.png 2x" />  <p dir="auto">The second test is to see if there is a correlation between the voting weight used and the % of total posts by an author on STEEM that relate to fundition.  A correlation coefficient of 0.4001 was found which indicated a weak positive correlation. <p dir="auto">The third test is to see if there is a correlation between the owned SP of the posting account and the average weight used by fundition on the voting.  As you can see there is no correlation between these metrics. <p dir="auto"><span> <img src="https://images.hive.blog/768x0/https://cdn.steemitimages.com/DQmRMJTH66XZh2vauE4nC7ML5twvgZ5fEUYr3EBCjiZ9WWF/9.png" srcset="https://images.hive.blog/768x0/https://cdn.steemitimages.com/DQmRMJTH66XZh2vauE4nC7ML5twvgZ5fEUYr3EBCjiZ9WWF/9.png 1x, https://images.hive.blog/1536x0/https://cdn.steemitimages.com/DQmRMJTH66XZh2vauE4nC7ML5twvgZ5fEUYr3EBCjiZ9WWF/9.png 2x" />  <p dir="auto">The forth test looks for a correlation between the voting weight used and the age of the account that is posting the project.  An extremely weak correlation can be found. <h2>User Profiling <p dir="auto">I thought it would be interesting to take a look at the user profiling of both those supported by Fundtion and those posting to fundition <p dir="auto">The Green represents accounts that have received a vote from fundition and the blue include all authors posting to fundition. <p dir="auto">The below histogram shows the % of posts an account made to fundition against all their posts on steem.  185 account made <=17% of their posts to fundition in October.  31 of these were supported.  On the other end of the scale 23 people had >=97% of their steem posts to fundition and 14 of these were supported. <p dir="auto"><span> <img src="https://images.hive.blog/768x0/https://cdn.steemitimages.com/DQmRnYpk5h3EmGyaUtRWb5ewE56yYccjfotgGxhodjeNM7r/10.png" srcset="https://images.hive.blog/768x0/https://cdn.steemitimages.com/DQmRnYpk5h3EmGyaUtRWb5ewE56yYccjfotgGxhodjeNM7r/10.png 1x, https://images.hive.blog/1536x0/https://cdn.steemitimages.com/DQmRnYpk5h3EmGyaUtRWb5ewE56yYccjfotgGxhodjeNM7r/10.png 2x" />  <p dir="auto">The below histogram shows the age of the STEEM account posting to fundition. The green showing the spread of account voted for and the blue showing the spread of the age of accounts that posted to fundition.  Statistically in October accounts between 460 and 590 days old had a higher probability of receiving a vote.  <p dir="auto"><span> <img src="https://images.hive.blog/768x0/https://cdn.steemitimages.com/DQmeiGZQHcgKCDeEQQRHo5rLZjSqXkTT6N1xJTTdCJkVV49/11.png" srcset="https://images.hive.blog/768x0/https://cdn.steemitimages.com/DQmeiGZQHcgKCDeEQQRHo5rLZjSqXkTT6N1xJTTdCJkVV49/11.png 1x, https://images.hive.blog/1536x0/https://cdn.steemitimages.com/DQmeiGZQHcgKCDeEQQRHo5rLZjSqXkTT6N1xJTTdCJkVV49/11.png 2x" />  <p dir="auto">Above we can see the accounts by SP owned and the distribution of both posts and votes seems to be very much in line with each other. <p dir="auto">Below shows the distribution of funition users in terms of powering down <p dir="auto"><span> <img src="https://images.hive.blog/768x0/https://cdn.steemitimages.com/DQmbnERvFYCBW4uwAvbJxQhsRpVDd1G8uzK9V58pV2ZQvxV/12.png" srcset="https://images.hive.blog/768x0/https://cdn.steemitimages.com/DQmbnERvFYCBW4uwAvbJxQhsRpVDd1G8uzK9V58pV2ZQvxV/12.png 1x, https://images.hive.blog/1536x0/https://cdn.steemitimages.com/DQmbnERvFYCBW4uwAvbJxQhsRpVDd1G8uzK9V58pV2ZQvxV/12.png 2x" /> <p dir="auto">Above shows the distribution of users in terms of those that power up liquid steem. <h2>Conclusion <p dir="auto">Fundition is an amazing project allowing anyone crowdfund a project. Having tried the platform myself, it looks good and works well. <p dir="auto">It is worth pointing out here, that I did not look at projects that may also have received funding via transfers and now you can also send funding via paypal. <p dir="auto">It is positive that the user profiling of the accounts receiving votes follow the same trend as the profiling of accounts posting and it is also very positive that there is no correlation between the voting habits and user account types.  This indicates that Fundition is not easily gamed and they are spreading their rewards in manor not favoring any one group. <p dir="auto">I would like to take this opportunity to wish the fundition team all the best with this ambitious project and I look forward to seeing this project grow to its full potential. <h2>Data and queries <p dir="auto"><span>Data was gathered in Power BI and Excel From Steemsql held and managed by <a href="/@arcange">@arcange. <p dir="auto">The M code used to get vote information from fundition was <p dir="auto"><br /> <pre><code>let <pre><code>    Source = Sql.Database("vip.steemsql.com", "DBSteem", [Query="SELECT#(lf)*#(lf)FROM #(lf)Txvotes (NOLOCK)#(lf)#(lf)WHERE [voter] in ('fundition')#(lf)and CONVERT(DATE,timestamp) BETWEEN '2018-10-01' AND '2018-10-31'"]), <pre><code>    #"Added Custom" = Table.AddColumn(Source, "% weight", each [weight]/10000), <pre><code>    #"Changed Type" = Table.TransformColumnTypes(#"Added Custom",{{"% weight", Percentage.Type}}), <pre><code>    #"Added Custom1" = Table.AddColumn(#"Changed Type", "Current vote worth", each 95.44), <pre><code>    #"Added Custom2" = Table.AddColumn(#"Added Custom1", "approx vote $", each [Current vote worth]*[#"% weight"]), <pre><code>    #"Changed Type1" = Table.TransformColumnTypes(#"Added Custom2",{{"timestamp", type date}, {"approx vote $", type number}}) <pre><code>in <pre><code>    #"Changed Type1" <p dir="auto"><br /> <p dir="auto">The M code used to post information to fundition was <pre><code>let <pre><code>    Source = Sql.Database("vip.steemsql.com", "DBSteem", [Query="SELECT#(lf)    author,#(lf)json_metadata,#(lf) permlink,#(lf)      total_payout_value,#(lf)    pending_payout_value,#(lf)    net_votes,#(lf)    created,#(lf)    children,#(lf)    Category,#(lf)    Depth#(lf)#(lf)FROM comments (NOLOCK)#(lf)where CONVERT(DATE,created) BETWEEN '2018-10-01' AND '2018-10-31' and#(lf)contains (json_metadata, 'fundition')#(lf)#(lf)#(lf)#(lf)"]), <pre><code>    #"Changed Type" = Table.TransformColumnTypes(Source,{{"created", type date}}) <pre><code>in <pre><code>    #"Changed Type" <p dir="auto"><br /> <p dir="auto">The M code used to get coinmarketcap data was <pre><code>let <pre><code>    Source = Web.Page(Web.Contents("https://coinmarketcap.com/currencies/steem-dollars/historical-data/?start=20180101&end=20181031")), <pre><code>    Data0 = Source{0}[Data], <pre><code>    #"Changed Type" = Table.TransformColumnTypes(Data0,{{"Date", type date}, {"Open*", type number}, {"High", type number}, {"Low", type number}, {"Close**", type number}, {"Volume", type number}, {"Market Cap", type number}}), <pre><code>    #"Removed Other Columns" = Table.SelectColumns(#"Changed Type",{"Date", "Close**"}) <pre><code>in <pre><code>    #"Removed Other Columns" <p dir="auto"><br /> <p dir="auto">The value of a vote for fundition was taken from steemworld.org on 4 Nov. <h2>Shamless Plug <p dir="auto"><span>Like what we are doing?  Dont forget to vote for <a href="/@steemcommunity">@steemcommunity as your steem witness. <p dir="auto"><span><img src="https://images.hive.blog/768x0/https://cdn.steemitimages.com/DQmbQRxg3R9M2AFLHQjW388a6ng6ofoN3UVux5B8FGtiiWA/1.png" srcset="https://images.hive.blog/768x0/https://cdn.steemitimages.com/DQmbQRxg3R9M2AFLHQjW388a6ng6ofoN3UVux5B8FGtiiWA/1.png 1x, https://images.hive.blog/1536x0/https://cdn.steemitimages.com/DQmbQRxg3R9M2AFLHQjW388a6ng6ofoN3UVux5B8FGtiiWA/1.png 2x" />