Our Investment in Dune Analytics

Today, we’re excited to announce Dragonfly’s leading investment in Dune Analytics’ seed round.

Dune Analytics is building a global, real-time platform for on-chain and DeFi data. Today, there are many companies that offer blockchain data, but Dune has broken through in this market with one key revelation: Dune’s data is open and remixable. Instead of relying on the employees of these data companies to choose which new project they want to prepare data for, Dune users can build complex queries of on-chain data directly through Dune’s built-in editor. This allows Dune to have faster, more up-to-date information than any of its closed competitors and allows Dune to cover the long-tail of smart contract data. Want in-depth data on SushiSwap? With Dune, you can get that data the day the project launches, before any other service!

But Dune’s strengths are not just in its open data. Dune has built a vibrant community of analysts, traders, and enthusiasts who save and share their queries with the world, allowing them to be patched, forked, and remixed to serve countless needs. In this way, Dune resembles Github for data analysis. Instead of queries and dashboards sitting siloed, each query is open source and extensible. We think this is a powerful revolution in how public data can be harnessed by the community.

All of this has propelled Dune to become the default way people in the Ethereum space talk about and exchange data today. Dune dashboards replaced expensive, unauditable closed-source dashboards, and we’ve moved beyond trusting projects and their claims to verifying the on-chain data. We personally use Dune for all of our articles at Dragonfly Research, and constantly use it to arrive at ground truth when making investment decisions.

We’ve known Fredrik and Mats since Day 1 of Dune after meeting and hacking with them at ETH Berlin 2018, and have consistently been impressed with their speed of execution and enormous output with just a two man team. This pair have taken the kernel of idea and grown it into an industry-changing product in under a year, and we’re thrilled to be partnering with them on this journey.

Try Dune yourself, and be sure to follow them on Twitter to keep up-to-date with the latest product announcements.