The behind-the-scenes story of Port3’s continuous support from major institutions Deeply exploring social mining products and ecosystem.

Uncovering the Untold Story of Port3's Unwavering Support from Prominent Institutions A Comprehensive Look into Social Mining Products and Ecosystems

On October 23rd, decentralized social platform Port3 announced an investment from DWF. With the previous round of funding, Port3’s total funding has reached a whopping $10 million. This is considered high for an application-based product.

Not only that, but Port3 also received donations from Binance Labs, Mask Network, and Aptos. As a highly anticipated social project, Port3 has had over 15,000 participants and published 63,147 mining tweets, with over 1.67 million interactions and over 200 million views.

Behind the social mining on Twitter, what kind of product and ecosystem layout has Port3 built to attract the attention of major institutions? veDAO Research Institute will take you on a journey to explore the details!

Port3 Network’s Social Data Layer

Port3 Network is building a social data layer that standardizes and aggregates on-chain and off-chain data to create a widely accessible and functional social data layer for Web3 applications. Its ultimate vision is to become the core social data gateway for Web3.

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The implementation of Port3 Network’s social data layer infrastructure consists of three key stages: data collection, data aggregation, and data application.

Data Collection

Unlike other blockchain products, Port3 Network connects with the public chain ecosystem, while also integrating with Web2 platforms such as Twitter, Discord, Telegram, and even Github and E-mail.

Based on this foundation, Port3 Network obtains comprehensive on-chain and off-chain data, including social user identity data and developer behavior data. By bridging Web2 and Web3, it provides a solid data foundation for the Web3 ecosystem.

Data Aggregation

Utilizing the collected diverse data resources, Port3 Network processes and forms usable aggregated data. The large amount of raw data undergoes accurate cleansing, involving the removal of duplicate content and correction of inaccurate information. The diverse data collected from various channels is then integrated during the aggregation stage to obtain a more holistic perspective. The aggregated data is redefined and organized to form structured data. Through in-depth refining and transformation, this structured data evolves into standardized data formats suitable for analysis, such as specific metrics, identity labels, or other application-friendly data formats.

Data Application

This stage primarily provides necessary data support for upper-level applications, ensuring the 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 a secure and privacy-focused Web3 digital identity system. This digital identity system not only connects users’ various on-chain and off-chain accounts but also aggregates users’ behavioral data on these platforms, enabling better 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 currently popular social mining on Twitter is part of the SoQuest ecosystem.

Spaces

Each space is a Web3 operation entity, and the 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 forms of activities, including marketing activities, member recruitment, live streaming, and Gig.

Marketing Activities (Quests)

Space operators can create marketing activities, initiate offline, online, or other custom tasks, and set rewards for completing tasks. Offline tasks include answering questions, joining Discord, downloading specified apps, following spaces, inviting friends, submitting proof pictures, following Twitter, joining Telegram, visiting specified websites, and more. Online tasks include holding specified tokens, NFTs, or participating in interactions of specified networks or applications. Marketing activities can be set for everyone to participate or have certain requirements, such as specified token or NFT holders, whitelist, real-name verification, or IP address whitelist.

In addition to creating, editing, and deleting marketing activities, SoQuest supports activity duplication for easier management. SoQuest introduces AI programs, which operators can use 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 spaces and segment community roles. SoQuest spaces support data analysis and download of onboarding activities, which is beneficial for the operation and management of SoQuest spaces.

Live Streaming (Twitter SLianGuaice)

Live streaming activities not only support Twitter SLianGuaice but also support FamLive streams. Operators can set the duration of user participation and acceptance of POAP NFTs. This can provide more effective incentives for 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 spaces is calculated based on four dimensions: space followers data, TVL, ecosystem partners, and social index.

Space activity data displays the operation status of space activities through four dimensions: PV (page views), UV (unique visitors), participants, and on-chain users.

SoQuest provides space operators with participant number trends, user tag management, and more. SoQuest also supports user data downloads and API tools.

Activities

Operators initiate various activities in their respective spaces, and users can participate in these activities. Port3 provides technical support and verifies the completion of tasks by users. After completing various tasks in the activities, users can receive corresponding rewards. Rewards can include tokens, NFTs, joining whitelist, etc.

Mining

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

SoQuest Ecological Status

Currently, there are over 1000 spaces in the SoQuest ecosystem. Among them, the most popular is the Port3 Network space, with 75,000 followers, 145 activities initiated, and a total of 270,000 participants. The second is the BNB Chain space, with 10,000 followers, 39 activities initiated, and a total of 773 participants.

As of the writing of this article, the SoQuest ecosystem has initiated nearly 83,000 activities, with over 3 million participants 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 transaction mining and workflow mining have been ongoing for 92 days and 75 days respectively. Currently, over 220,000 people have participated in task mining, with over 2 million gems mined and 66.06% remaining to be mined. In the past two weeks, nearly 37,000 people have participated in social mining, with a total of 2.54 million gems mined and 95.76% remaining to be mined. 3,565 people have participated in transaction mining, mining less than 2.7 million gems, with 99.24% remaining to be mined. Only 4 people have participated in workflow mining, with 99.93% remaining to be mined. A total of 25.6 million gems have been mined, with 94.88% remaining to be mined.

QaaS Component

QaaS, Quality as a Service, is a service that provides quality as a service. SoQuest has launched the QaaS component, which allows SoQuest space operators to embed the QaaS component into their own project’s web page. Without affecting the brand image, the QaaS component seamlessly integrates and provides task and reward management, including monitoring and verifying user activities and distributing rewards. It also provides user rankings and analysis support for all user activities. In the data dashboard of the SoQuest space, operators can better grasp the operational data of the project.

BQL

BQL, Blockchain Query Language, is a language for exploring blockchains. It is a language that automatically executes complex on-chain operations. By using the BQL language, a series of on-chain operations can be written as a program. Users only need to click run to call this program and execute a series of complex operations. This provides convenience for operators in providing user participation.

Each time the BQL template is run and verified, workflow mining is completed, and 10 gems are obtained.

Port3 Other Products

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

SoQuest Robot Matrix

The robot matrix is used to analyze and detect the social behavior of all projects that collaborate with SoQuest. Off-chain, the robots join Telegram and Discord communities to perform off-chain tasks. On-chain, the robots join multiple public chains, providing token prices and market sentiment analysis. According to Port3 official documentation, “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 combines elements of Lunarcrush and Nansen to track token market trends, market sentiment, KOL interactions, and other data. By combining on-chain data with AI algorithms, it converts them into useful market-related indicators and sentiment indicators.

Port3 Background

Team

LinkedIn shows that the Port3 team consists of 9 core members. The team members’ skills, educational backgrounds, and work areas are distributed as follows:

Co-founder & CEO – Max D.

Bachelor’s degree in Electrical and Electronic Engineering from Northeastern University, specializes in project management and negotiation. Former Business Development Manager at Apple, Product Manager at ZB.com, and Business Consultant for Astarter, a CARDANO chain DeFi product.

Core Contributor – Qian Wang

Master’s degree in Quantitative Finance from the Swiss Federal Institute of Technology, Zurich. Specializes in statistics, financial analysis, and data mining. Formerly worked at Alpiq, J.P. Morgan as a quantitative research analyst, and as a data scientist for UBS Group.

Operations Director – Gustaf Munro

Bachelor’s degree in Psychology from Stellenbosch University, specializes in IT operations. Co-founder and former CEO of Pendragon Quest.

Funding

Seed Round: Led by Jump Crypto and KuCoin Ventures.

Second Round: Participated by EMURGO Adaverse, Accelerator, and gate_labs, with millions of dollars in funding.

Total funding reached $10 million.

Summary

The Port3 Network aggregates Web2 and Web3 data to build a data gateway for the Web3 ecosystem at the social data layer, providing users with Web3 digital identity recognition and verification. Based on this Web3 digital identity system, the SoQuest platform provides users with opportunities to participate in various tasks and earn rewards.

On the other hand, the SoQuest platform provides a platform and tools for project operators, platforms, communities, VCs, and even KOLs. Operators can initiate various activities on the SoQuest platform, leveraging its data and traffic aggregation to achieve data growth. SaaS and BQL provide more convenience for operators.

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