mStats Development Update
Period: May-June 2021
Reporting informs people, helps with the story-telling, and ideally, keeps people interested in an ecosystem. There is a lot happening across mStable, and sometimes it is difficult to deliver the most important information (and wins) in a simple and concise way. This is one of the reasons we started publishing weekly mStats reports in March 2021.
The initiative was well received, and in April 2021, we started publishing these weekly updates on mStats Twitter account.
Lots of good ideas kept coming from the community of metanauts and twitter - most of them pointing in the direction of a dashboard/reporting tool that can be automated - in such a way that important stats and “wins” can be communicated quickly and easily.
As of June 1st, mStats project is a grant recipient, which is allowing us to:
- Continue manual weekly reports until the end of 2021
- Build an online dashboard that will, eventually, be capable of generating most of the report content automatically.
In this first mStats development update, we wanted to share the progress so far, and what comes next.
Investigations and requirement gathering started in mid May, so that in early June, we already had a good idea of what phase 1 of mStats project would look like. We knew that the end result needs to be visually pleasing, but maybe even more importantly - we wanted it to be modular, configurable, and easily scalable.
For that reason, it made sense to start with developing a common API layer for all sorts of data concerning mStable protocol; governance excluded.
Throughout June, we’ve worked on building APIs to fetch mStable data (from subgraph) in a way that is configurable. By mid-June, we were able to get some raw data in a standardized way;
Traditional “financial” reporting is done in quarters or years; in DeFi - daily, weekly, monthly reporting frequency is pretty crucial, as well as real-time, of course - so one of the must-haves is the ability to set a reporting periods, and a few more parameters, and get a pretty raw snapshot for any period selected.
As part of this milestone, we wanted to create a basic webpage - where we can demonstrate and test these APIs. On July 1st, we got our first basic web page:
This page helps us to “scratch our own itch” - as currently, mStats weekly reports are prepared manually by taking data from various sources (mStable website, Dune Analytics, and CoinGecko). Being able to fetch ~90% of info required for the report from our new page would definitely be a milestone.
Time invested to date
|Task||Time Spent (h)|
|Move into AWS environment||52|
|AWS API implementation||50|
|Test Html page||8|
Moving forward - July & Beyond
There is more work to be done on the APIs, as we are also in the process of setting up a repository on GitHub, and in discussions on where this dashboard will ultimately be deployed to. As we progress on these fronts, we decided to build a very basic web page to help us show and test the outputs.
There are several open questions regarding specific data points, for which we’ve already reached out to the development team members at mStable. In addition, the mStable team has started an implementation for governance stats at https://www.mstable.info/ - which could naturally be the home of mStats, as well. We are currently discussing how to make this happen in the best way possible, without double ups or making each other’s efforts obsolete.
In closing, we believe we made good progress over the past month and a bit, and look forward to where this project takes us.
Dundomaroye & Sergey K