Effects of the Community Awards Board

June 05, 2022

From the past three cryptocurrency cycles, it is increasingly clear that the adoption of cryptocurrency protocols is tightly correlated with price action and broader market sentiment. While this can be frustrating for developers, it is understandable. As the price of a cryptocurrency increases, and during a general bull market, capital flows into projects, and those investors want their investment to grow, so they push for the adoption of their underlying investment. These reflexive economic forces display themselves in bear markets too; when capital begins to flee, adoption declines, further decreasing price in the short-term.

Akash Network is no exception to this pattern. The token price is down ~95% from all-time highs and active deployments are down ~32%. On the surface this is troubling, but it is actually quite hopeful that adoption has proportionally increased in strength relative to price, especially in an application specific use-case such as Akash. So why has the underlying function of Akash Network held up so well? We think a strong case can be made that the Community Awards Board (CAB) has been the most important, non OverClock Labs/Akash team related factor in the adoption and growth of Akash Network.

Since it's inception, the Akash CAB has funded four main projects: Akashlytics, Praetor, Moultrie Audits, and Open Registry (Parachute). Akashlytics is focused on improving and simplifying the deployment process for users. Praetor simplifies the provider creation process. Moultrie Audits ensures provider security and uptime, and signals these characteristics to tenants. Open Registry is an open source and secondary/backup version of Docker.

While all of these projects are important, the former three are directly working on the adoption and security of on chain use and infrastructure. Since Open Registry is more focused on redundant systems that Akash utilizes, they will not be included in this discussion.

Akashlytics has become the centerpiece of the Akash community. It is the most engaged with product by a wide margin, and their brand is recognized and respected by all deployers. Since the beginning of the year, the Akashlytics Deploy App has had 61,758 transactions, 17,495 deployments created, and 12,430 leases created. This represents ~14% of all leases in the Network's history. akashlytics.com has had 411,196 sessions so far this year. The team is highly responsive with troubleshooting in the Akash Network Discord, greatly reducing the burden on the official Akash team. Not to mention their validator is the 21st largest in the active pool, contributing to the decentralization of the validator set. They also have a member on the CAB.

Moultrie Audits consolidated deployments to 22, and has 20 launching in the next month, which will represent 8% of the active deployments on the network. We have signed 5 providers, and are beginning our campaign to sign all providers on the network. We also send out issue notifications to audited providers for quicker remediation. moultrieaudits.com has had 12,872 sessions so far this year and averages 546 unique visitors/month. We also run and manage poweredbyakash.com which has had 36,328 total sessions this year with an average of 1,096 unique visitors/month. Moultrie Audits has been working with overseas datacenters to add test providers on Akash Network. We introduced Proposal #16 on the network and have a member on the CAB. We run a validator which is ranked 54th.

Praetor averages 362 unique site visitors/month and 12 providers have been created with their product. 9 of those providers remain active out of the total 29, representing 31% of the entire provider set. Their product has drastically reduced the time it takes for the average community member to set up a provider, and their secure set up by default has enabled Moultrie Audits to increase our auditing speed. Praetor is also active in the provider recruitment process and has been working with providers to change operating systems and onboard larger capacity onto the network.

Combined, these three CAB projects account for over 10% of all active deployments, 14% of the network's historical leases, 31% of all active providers, 25% of all audits, 33% of the CAB, 1.58% of the validator share, and over 5,000 users/month either utilizing or visiting Akash related apps/websites. CAB funded projects represent a huge share of the growth of the network, and all indications are that their funding has a positive return on investment for the Akash community.