LunarCrush is building a DeFi suite to give more value to its community. In part two of Cryptonites’ interview with LunarCrush’s Joe Vizzani and John Farjo, the founders of the social analytics platform talk about what it means to provide value to their community. Speaking to Cryptonites’ Alex Fazel, Vizani said that LunarCrush’s value lies in its ability to provide the user with overlooked and underutilized metrics. Other analytics platforms require users to find metrics themselves, which Vessani and Farjo believe limits their usefulness to the user.
Vizani explained that there are three key criteria users should look for when reviewing projects, with community size being the most important. LunarCrush measures community size by recording every time a particular coin is mentioned in a community report and then determines the trend over time. LunarCrush records the social interaction on the posts it analyzes by observing the number of comments and conversations that occur on each social media post. In addition, the site also analyzes the number of social contributors. In addition to being a way to eliminate bots and spam, Vizani explained that looking at the number of members also gives an indication of the overall size of a coin’s community. All these metrics are then combined with the market activity of a particular token to form what the platform calls Altrank.
Vizani noted that Altrank is a very useful tool for identifying fast-growing and promising projects. LunarCrush was one of the first sites to notice the growth of the Avalanche community prior to AVAX’s price reaction. To complement the existing tools, LunarCrush is developing a whole new set of DeFi products called LunarFi. Farjo said the company is committed to providing its community with valuable products that are not tied to a platform. The first DeFi product launched was LunarCrush, which had its own LUNR token. LunarCrush users can earn platform token by participating and unlocking different layers and features on the platform. If users choose to take the value they earned on LunarCrush elsewhere, they can easily withdraw their tokens from the platform, Farjo explained.