enjoy

sick to see @enjoytech.eth passing 50k holders last week

What is a good metric to measure SocialFi in web3?

Getting the metrics right in crypto/web3/defi is hard and opaque. If you start from a strong WHY, measuring a north star metric is very useful to keep an eye on achieving what you set out to do.

It's very easy to get lost in tracking vanity metrics. For example, tracking the number of token holders is a great example of a vanity metric in my eyes:
https://warpcast.com/joshcrnls/0x0a1026db

In DeFi I would still stay the combi of TVL with a fee/revenue ratio KPI is a good north star.

In SocialFi I have my doubts:
-> # of token holders is a very vulnerable metric, super easy to manipulate, says nothing if the big chunk is just farmers. "Getting the token in the hands of as many people", always a bit of a strange goal, does that make it a meaningful project?
-> DAU: Easily inflated by airdrop farmers, bots etc. Can be used by projects in their advantage (fundraising from Farcaster for example), but it might take more to really define what meaningful DAU is.