we launched chainparser in august 2023, following the lean startup methodology, which posits that it is effective, and less costly for startups to build products through constant iteration on a minimum viable product (MVP) rather than building something behind closed doors and eventually realizing after launch that it was not what potential users actually needed.
with very little funds to even begin with, we latched unto the lean startup methodology and began shipping right after the domain was bought. with only one developer working on the product, who also doubles as the marketer and the analyst, it has been a very slow process but the vision to build a one-stop shop for blockchain data is slowly brewing and it is beautiful to see.
after our first month of launch, we want to share with our cherished users and well-wishers the progress so far, the challenges we're currently facing, interim solutions, and planned features for the coming month. it's going to be a beautiful journey so please stick with us.
measurement of success
every startup wants to be successful, but how do you actually define success? at chainparser, we define success by 3 main metrics;
(a) number of daily active users
(b) new features implemented over time
(c) user satisfaction
the number of daily active users tell us how many users are actually trooping to chainparser. this is our main goal because the our revenue model revolves around advertising which means that more eye-balls = more revenue. most importantly this means we're actually providing some sort of utility that users can't find anywhere else. on average we get about 3 users every day. in total, 87 unique people have checked out chainparser since launch.
concerning new features implemented, we've been able to integrate metrics for ethereum mainnet and solana. we improved the speed at which charts load, and implemented a feedback box which users could use to provide feedback and request for features. we are very pleased with what we've shipped so far.
user satisfaction is a tricky one to measure but we decided to equate it to screen time. so more time time spent on chainparser will mean that users are satisfied and that's why they're spending more screen time on the site. declining screen time will also mean user satisfaction is in decline. this method might not be perfect but it also goes to show how much utility we're providing our users. the average screen time in august 2023 was 59 seconds, which is quite impressive if you ask me.
interim challenges and solutions
for starters, we're running chainparser with no funds. attempts to raise funds have been unsuccessful but we're not giving up anytime soon. the compute bill from our data provider (flipside) is quite hefty even though we intentionally introduced a 24hr latency on API calls in order to reduce cost. in the short term, we will focus on building other features that are relatively cheaper to implement.
our cloud costs are also due anytime soon and we've been running on grace period since launch, however, we have done a couple of freelance work and are in anticipation of some funds to relieve these costs before we get taken offline.
features coming september
in all things, if the Lords grants us life and continuity, we have the following features slated to be shipped this month of september:
(a) introduce project docs
(b) introduce newsletter
(c) add more blockchains
(d) add crypto news
(e) make a new homepage out of these new features
as you can see, this is a packed lineup of features and will require diligence and dedication to successfully execute to perfection. the vision of building the number 1 data hub for crypto is highly aspirational but we will surely build it no matter what the challenges are.
please join us on this journey by following our page on linkedin and twitter. you can also reach us at services@chainparser.com if you have any feedback or issue you wish to report. stay blessed and have a beautiful month!
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