Author: @BlockCookies, Head of Data Activities at RootData

Hello everyone, the second phase of the RootData bounty event has successfully concluded. As I publish this recap, rather than cold hard numbers, I want to discuss: Why is advancing "data transparency" in Web3 an extremely difficult yet necessary task?

First, let’s sync up on the data from this event: Over 140 independent users participated, providing 1,220 pieces of feedback, ultimately resulting in 564 valid data points, with an average approval rate of 46.2%.

Overview of the data from the second bounty event

This event helped RootData supplement nearly 300 "people behind the Alpha," such as executives and team leaders from MOMO.FUN, Subhub, boop, and others. These individuals often do not describe their positions on x or LinkedIn, but sometimes attend events or are active in the community.

At the same time, we corrected about 120 pieces of token unlock information. Some of these had inaccurate TGE timings, while others had unlock rules that were not disclosed in a timely manner; these issues were optimized through the efforts of community members.

Additionally, we conducted in-depth optimizations on 150 existing information points. For example, we found that the founder of Fanable was incorrectly recorded as a non-Web3 individual with the same name, and their managing director Sergio is already in a state of departure; the AINFT project has long since changed its Twitter account…

Why do we need to promote transparency in the Web3 space? These data points may seem mundane, and since RootData itself is an expert in aggregating off-chain data, why should we spend our own resources and mobilize the community to do this "hard work"?

To be honest, when my boss @yubopan1 assigned me this task, I hesitated. But one of his statements resonated deeply with me: “From the ICO era to the FTX incident, the greatest tragedy for users is the lack of fair 'investment informed consent.' With the compliance of crypto, data platforms must take the lead and act as a mirror to reveal the truth.”

As the head of data, I can deeply feel that his judgment is correct: relying solely on one voice is insufficient for accuracy. Data that has not been verified by multiple sources is not enough for RootData to become a platform that investors can trust.

Just looking at the token unlock data, it is very "disjointed": the same project may have five different versions of data across five mainstream unlock platforms.

It is well known that Binance Listing requires the submission of at least three team members. RootData has recorded over 18,000 industry figures; how many updated their resumes urgently before the TGE, and how many "silently left" after securing funding?

In this event, we found that: a large number of project teams experience frequent changes in core members before and after the TGE. For investors, this is often a "weather vane" for the project's direction. If no one verifies or discloses this information, it will be drowned in the daily explosion of information flow.

To ensure that "transparency" is not just a slogan, our current actionable plans include:

• Consistently disclosing false financing information every month.
• Conducting regular in-depth research, such as the recently released “Exchange Listing Decision Report.”
• Increasing the frequency of capturing and verifying LinkedIn profile updates.

Moreover, we maintain a rigorous review attitude. In this event, a user provided detailed information about the River development team, but the source was merely a third-party account on Binance Square. Although the content was detailed, due to the lack of official endorsement or cross-verification from multiple sources, we still chose not to approve it.

This event focused on "Binance Alpha," and we also attempted to communicate with the Binance team. We do not wish to target any specific exchange; on the contrary, we hope to stand alongside industry giants.

We previously confirmed some key dimensions with the Binance team, and they responded very positively: “If there is any information that needs to be confirmed from Alpha, feel free to communicate at any time.”

Correcting isolated data points is just the beginning. In the future, RootData will connect "discrete data points" into "logically coherent transparency reports," and even transform them into the most practical investment strategies.

Transparency is a long-term battle and an essential path for Web3 to go mainstream. We need more "data hunters" to join us in unveiling the fog. We welcome everyone to leave comments and discuss.

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