Today’s Daily Crypto Basket: DAU’s presented by Coinmetrics

Collect your basket on July 30th, 2018

An influencer basket based on data from the brilliant analysts at Coinmetrics.io

July 30th’s Daily Crypto Basket is was designed by Coinmetrics.io, which provides incredibly rich statistics about cryptoassets. The site is is run - along with a brilliant crew - by crypto analyst Nic Carter.

This basket is comprised of leaders in daily active users, or DAU, of ERC20 tokens. DAU is a significant measures of a project’s product and the community’s enthusiasm. In today’s special basket, you can receive not 8, but 12 coins that boast the highest number of daily active users.


Don’t put all your eggs in one basket

There are 12 assets in today’s basket, weighted as follows:

Omisego (OMG): 12%

OmiseGO is an open payment platform and decentralized exchange built off Ethereum whose goal is to “Unbanked the Banked”. OmiseGO provides a blockchain-based solution to financial transactions such as payments, remittances, and payroll deposits.

VeChain (VEN): 26%

VeChain is a technology enterprise that aims to provide blockchain-based solutions across many industries, including auto, luxury goods, and agriculture. One of its biggest foci is supply chain management and logistics. VeChain uses Blockchain-as-a-Service (BaaS) solutions for companies that require better logistics tracking.

Zilliqa (ZIL): 13%

Zilliqa is a decentralized application platform designed particularly for gaming/entertainment, digital advertising, and payments. The platform uses sharding to scale as the network grows in size, aiming to provide a solution to scalability issues on other blockchains. Zilliqa also uses Scilla, an automata-based language for its smart contracts, allowing for formal verification of contracts.

0x (ZRX): 9%

0x has created a protocol that allows for the creation of decentralized exchanges. 0x aims to solve the issue of centralized exchanges (run by a single entity) which in turn offers a single-point of failure. This leaves the centralized exchange vulnerable to theft. 0x technology can create a more secure, decentralized platform without sacrificing processing speed offered by their centralized counterparts.

Basic Attention Token (BAT): 7%

Basic Attention Token aims to increase the efficiency of digital advertising with its token. The dApp is built on the Ethereum blockchain and can BAT can be exchanged between publishers, advertisers, and users easily. BAT may be used for many advertising services. Combined with Brave browser (developed by the same organization), BAT decentralizes and improves the digital advertising market.

aelf (ELF): 6%

aelf is a decentralized, cloud-computing blockchain network that provides a platform for commercial blockchain solutions. aelf is a multi-chain system (a main chain and various side chains) with cross-chain communication. The system is designed for scalability, as each node is not a singular machine, but a cloud network of machines. This structure will lead to higher computational power and increased storage capacities.

TenX (PAY): 6%

TenX is a platform designed to allow individuals to spend a number of virtual currencies when travelling. Using the TenX app and the TenX card, users can connect their digital assets to real world payment platforms to spend their currencies at any merchant throughout the world.

Golem (GNT): 5%

Golem is a decentralized supercomputer that comprises the combined computing power of all machines on the network. Golem users can share their machine’s computing power through Golem and be paid in GNT (Golem Network Tokens) by users requesting to utilize this power. Anyone can create and monetize applications on the Golem network.

Status Network Token (SNT): 5%

Status is a mobile Ethereum light client. With Status, users can access the Ethereum blockchain to make payments, browse dApps, and use a private, encrypted instant messenger. Users must use the Status Network Token (SNT) to access certain features of the Status Network.

Binance Coin (BNB): 4%

Binance Coin is the native token on Binance, a popular cryptocurrency exchange. BNB is an ERC-20 token that runs on the Ethereum platform. BNB allows traders to trade cryptoassets on the Binance exchange with lower transaction fees.

Power Ledger (POWR): 4%

Power Ledger is a peer-to-peer marketplace for renewable energy. Built on the Ethereum blockchain, users can essentially trade electricity with one another and receive payment in real-time from a decentralized settlement system. The platform promotes clean energy and efficiency in electricity and power.

Salt (SALT): 3%

Salt is a lending platform designed for digital currencies. Users put up crypto as collateral in exchange for cash loans — ideal for someone who needs to pay off an unexpected expense without having to sell-off blockchain assets. Users pick loans and provide collateral while the loaners commit cash funds. The user then pays monthly installments based on loan terms and SALT will release the collateral once the loan is paid back.


So how does this basket fare on Flipside Crypto’s tracking metrics?

Developer Index: 683

Our Developer Index represents the amount of work and involvement of the broader developer community contributing to the projects in the basket. The average project receives a score of 500 on our index, with the highest score being 1000 and the lowest 0. Visit our full Developer Index here.

Volatility Score: 134.2

Our volatility score compares the basket’s asset change in value with the S&P 500’s for the previous 90 days of trading activity. This is known as a Total Beta risk coefficient: a score greater than 1 indicates more volatility than the benchmark, whereas a score less than 1 indicates less. A score of 5.6x would mean you should expect a 5.6 times more price volatility over the same time period compared to the benchmark.

HorseRace Backtest

Flipside uses a horse-race style backtest method to observe the potential range of returns for Baskets, compared to 3 reasonable alternative strategies.

We simulate establishing a position in the following strategies each week for the last 52 weeks, using only data that would have been available at that time to make our selections. We then report the rolling average monthly return for each approach. As with any backtesting, previous returns are never a guarantee of future performance.

So what is the return when running this HorseRace for the last 52 weeks?

About Daily Crypto Basket

Daily Crypto Basket provides a thematic basket of cryptocurrency every day. Each basket is developed based on market maturity, developer behavior, and utility algorithms developed by Flipside Crypto.