Why are we obsessed with those "thankless" data cleaning tasks?

Author: @BlockCookies

Hello everyone, I am the head of data activities at RootData.

The second phase of the RootData bounty program has successfully concluded. As I publish this recap, rather than cold hard numbers, I would like to discuss with you: Why is advancing "data transparency" in Web3 an extremely difficult yet necessary task?

First, let's sync up on the data from this phase of the activity: A total of over 140 independent users participated, providing 1220 pieces of feedback, ultimately yielding 564 pieces of valid data, with an average approval rate of 46.2%.

Overview of Phase 2 Bounty Program Data

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

At the same time, we corrected about 120 instances of token unlock information. Some of these had inaccurate TGE timings, while others had unlock rules that were not disclosed promptly. 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 mistakenly recorded as a non-Web3 person with the same name, and their managing director, Sergio, is already no longer with the company; the AINFT project had long since changed its Twitter account…

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

Honestly, when my boss @yubopan1 assigned me this task, I hesitated. But one of his remarks struck me deeply: "From the ICO era to the FTX incident, the greatest tragedy for users is the lack of fair 'investment informed consent.' As crypto becomes compliant, data platforms must take the lead and act as the mirror to reflect the truth."

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

Take the data on token unlocks alone; 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 phase of the activity, we found that: many project teams experience frequent changes in core members before and after the TGE. For investors, this often serves as 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 solutions 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 phase of the activity, a user provided detailed information about the River development team, but the source was merely a third-party account speaking on Binance Square. Although the content was detailed, due to the lack of official endorsement or cross-validation from multiple sources, we still chose not to approve it.

This phase of the activity 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 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 reach out."

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. Everyone is welcome to leave comments for discussion.