The crypto world needs data. Data on the price of assets, data on the quality of those assets (volume, liquidity…), data on the projects around the assets (website, logo of a crypto-token). Exchanges, tools, traders, investors – everyone needs this data.CoinMarketCap, the largest crypto data aggregator, has 300,000,000 visitors per month and was purchased by Binance for $400,000,000 USD in August 2021.
Crypto data aggregators are centralized institutions
CoinMarketCap is a centralized aggregator, it takes weeks to be listed for a crypto-asset if you don’t know an ‘insider’, only 18,000 assets are listed on the platform. Same goes for CoinGecko.
Mobula is a cross-chain protocol allowing the collection, processing and transmission of meta-data on crypto-tokens in a perfectly decentralized way on-chain.
To summarize very simply, Mobula is the decentralized and on-chain version of CoinGecko or CoinMarketCap.
How is this possible? Thanks to the Protocol, a cocktail of DAO, IPFS and smart-contracts 🧪 (The Protocol is detailed in another article and in the white-paper). If there is only one thing to remember about it, it’s that the majority of work is organized through a DAO. The DAO is hermetic and hierarchical (see our detailed article on the subject) which ensures the consistency of the work provided and rewards the members participating in the functioning of the Protocol with its treasury.
💡 With Mobula, any user, dApp or smart-contract will be able on the majority of EVM-compatible environments to directly access on-chain the data they want regarding a crypto-asset, without going using a centralized third party.
Now that the concept of Mobula is clear, it is important to see how it will be implemented. First, a seed sale will be organized to allow the project to start developing. Then, the Mobula platform (both the governance platform and the data aggregator interface) will start to be developed, and in parallel the private sale will take place, with access reserved for the most involved members of the community. A few weeks later, the public presale will be held, followed by the listing on an exchange. The platform will be fully operational in the week of the listing.
Mobula’s dApp beta is already live on the main net
Let’s take a look at the path that data takes through the application to be integrated into our database.
Data processing, decentralized
First, data is collected via a listing form (available on our dApp) – anyone can add information about a crypto-token.Anyone? But then, the data could be corrupted and someone could put in something wrong, right?Indeed! This is why the data is then sent to the processing pools where Mobula DAO members can validate or reject assets based on the quality of the data.
An example of DAO decisionsThe validated data is then added to Mobula’s database.Ok, but then, everything relies on the DAO members, right? If I’m part of the DAO, and I decide to create 1000 bot addresses to vote against a token because I don’t like it, it will never be listed, right? No, this is not possible. All addresses allowed to vote must be elected by the other DAO members (by a large majority). So it’s not possible for one person to take control of the data like that.
