Exploring the Products and Ecosystem behind Port3 Social Mining in Depth

Deep-Dive into Port3's Social Mining Products and Ecosystem

On October 23rd, decentralized social platform Port3 announced that it had received investments from DWF. In addition to this, they also received donations from Binance Labs, Mask Network, and Aptos. Behind the social mining on Twitter, what kind of products and ecosystem has Port3 built, and why has it received continuous recognition from major institutions?

On October 23rd, decentralized social platform Port3 announced that it had received investments from DWF. Adding to the previous funding round, Port3 has now raised a total of $10 million. This is already a considerable amount for an application-focused product.

Not only that, but Port3 has also received donations from Binance Labs, Mask Network, and Aptos. As a highly anticipated social project, since the launch of social mining on Port3, there have been over 15,000 participants who have tweeted a total of 63,147 mining tweets, with more than 1.67 million interactions and over 200 million views.

Behind the social mining on Twitter, what kind of products and ecosystem has Port3 built, and why has it received continuous recognition from major institutions? veDAO Research Institute will take you on a journey to explore the answers!

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Port3 Network Social Data Layer

Port3 Network is building a social data layer that provides wide accessibility and excellent functionality for Web3 application scenarios through the standardization and aggregation of on-chain and off-chain data. Its ultimate vision is to become the social data core gateway for Web3.

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

Data Collection

Different from other blockchain projects, Port3 Network connects with the public chain ecosystem, and at the same time, integrates Web2 platforms such as Twitter, Discord, Telegram, 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, Port3 Network provides a solid data foundation for the Web3 ecosystem.

Data Aggregation

Based on the diverse data collected, Port3 Network processes and forms usable aggregated data. The large amount of raw data undergoes an accurate data cleaning process, which involves removing duplicate content and correcting inaccurate information. The diverse data collected from various channels is integrated during the aggregation stage to obtain a more holistic perspective. The aggregated data is then redefined and organized to form structured data. Through in-depth refinement and transformation, these structured data eventually evolve into standardized data formats suitable for analysis, such as specific indicators, identity labels, or other convenient data formats for applications.

Data Application

This stage primarily provides necessary data support for upper-level applications to ensure diverse requirements from project developers and end-users are met.

[Embedded Image: Port3’s Winning Streak: Exploring the Social Mining Product and Ecosystem]

Built on the aggregation of Web2 and Web3 data, Port3 Network’s social data layer strives to achieve the Web3 digital identity system in a secure and private manner. This digital identity system not only connects users’ various on-chain and off-chain accounts but also aggregates their behavioral data on these platforms, thereby better enabling the identification and verification of Web3 user identities.

Web3 Task Platform SoQuest

In the Port3 Network product ecosystem, 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 operating entity, and optional spaces include NFT, DAO, Defi, wallets, Gamefi, exchanges, communities, infrastructure, VC, Web3, KOL, and metaverse. Operators of various projects, platforms, communities, VC, and even KOL can create spaces in SoQuest to operate projects, communities, and more. SoQuest space operations support four types of activities: marketing activities, member recruitment, live streaming, and Gig.

Marketing Activities (Quests)

Space operators can create marketing activities, initiate on-chain, off-chain, or other customized tasks, and set rewards for completing tasks. Off-chain tasks include answering questions, joining Discord, downloading specified apps, following spaces, inviting friends, submitting proof pictures, following Twitter, joining Telegram, visiting specified websites, etc. On-chain tasks include holding specified tokens, NFTs, or participating in interactions of specified network applications. Marketing activities can be set for participation by everyone or set thresholds for participation, such as specifying token or NFT holders, whitelists, real-person verification, or IP address whitelists.

In addition to creating, editing, and deleting marketing activities, SoQuest supports the duplication of activities for easy management. SoQuest introduces an AI program, which operators can use to create innovative cover images for activities.

Member Recruitment (On-Boarding)

SoQuest spaces can create different member recruitment activities to attract new users to the space and segment community roles. SoQuest space supports data analysis and downloading of onboarding activities, which is beneficial to the operation and management of SoQuest spaces.

Live Streaming (Twitter SLianGuaice)

Live streaming activities not only support Twitter SLianGuaice but also support FamLive streaming. Operators can set the duration required for users to join and receive POAP NFT, which can incentivize users to participate in live streaming activities more effectively.

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 space is calculated based on four dimensions: space followers data, TVL, ecosystem collaborators, and social index.

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

SoQuest provides space operators with trends in participant numbers, user tag management, etc. SoQuest also supports user data downloads and API tools.

Activities

Operators launch various activities in their respective spaces, and users can participate in these activities. Port3 provides technical support to verify that users have completed tasks. After completing various tasks in the activity, users can receive corresponding rewards. Rewards can be tokens, NFTs, whitelist access, etc.

Mining

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

Current Status of SoQuest Ecosystem

Currently, the SoQuest ecosystem has over 1,000 created spaces. The most popular is the Port3 Network space, with 75,000 followers, 145 activities launched, and a total of 270,000 participants. The next is the BNB Chain space with 10,000 followers, 39 activities launched, and a total of 773 participants.

As of the writing of this article, a total of nearly 83,000 activities have been launched in the SoQuest ecosystem, with over 3 million participants receiving over $350,000 in rewards. The most popular reward token is USDT.

The duration of task mining and social mining is 291 days, while transaction mining and workflow mining last for 92 days and 75 days, respectively. As of now, over 220,000 people have participated in task mining, mining over 2 million gems, with 66.06% yet to be mined. In the past two weeks, nearly 37,000 people have participated in social mining, mining a total of 2.54 million gems, with 95.76% yet to be mined. 3,565 people have participated in transaction mining, mining less than 2.7 million gems, with 99.24% yet to be mined. Only 4 people have participated in workflow mining, with 99.93% yet to be mined. A total of 25.6 million gems have been mined, with 94.88% yet to be mined.

QaaS Components

QaaS, Quality as a Service, is a service that SoQuest launches. SoQuest space operators can embed QaaS components into the web pages of their own projects. Without affecting the brand image, QaaS components seamlessly integrate to provide task and reward management for projects, 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 operation data of the project.

BQL

BQL, Blockchain Query Language, is a language for executing complex on-chain operations automatically. By using BQL, a series of on-chain operations can be written as a program, and users can simply click to run the program and execute a series of complex operations. This makes it convenient for operators to provide user participation.

Every time you run the BQL template and pass the verification, you can complete the workflow mining and get 10 gems.

Port3 Other Products

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

SoQuest Robot Matrix

The robot matrix is used to analyze and detect social behaviors related to all projects collaborating with SoQuest. Off-chain, robots join Telegram and Discord communities to perform off-chain tasks. On-chain, robots join multiple public chains to provide token quotes and market sentiment analysis. According to Port3’s official documentation, “the 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 from Lunarcrush and Nansen to track token market trends, market sentiment, KOL interactions, and other data. It combines on-chain data with AI algorithms to transform them into useful market-related indicators and sentiment indicators.

Port3 Background

Team

According to LinkedIn, the Port3 team consists of 9 core members. The team members’ skills, academic backgrounds, and areas of work are as follows:

Co-founder & CEO – Max D.

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

Core Contributor – Qian Wang

Master’s degree in Quantitative Finance from ETH Zurich in Switzerland, specializing in statistics, financial analysis, and data mining. Former work in Alpiq and J.P. Morgan’s Quantitative Analysis Research team, and Data Scientist at UBS Group.

Operations Director – Gustaf Munro

Bachelor’s degree in Psychology from Stellenbosch University, specializing 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 EMURGOAdaverse, Accelerator, and gate_labs, raising several million dollars.

Total funding reached $10 million.

Summary

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

On the other hand, the SoQuest platform provides operators of projects, platforms, communities, and VCs, as well as KOLs, with a platform and tools for operations. Operators can launch various activities on the SoQuest platform, utilize the data and traffic aggregation of the SoQuest platform to gain data growth. SaaS and BQL provide operators with more convenience.

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