LunarCrush is building a DeFi suite to give more value to its community

In the second part of Cryptonites‘ interview with Joe Vezzani and Jon Farjo from LunarCrush, the founders of the social analytics platform talk about what it means to provide value to their community.

Speaking to Cryptonites’ Alex Fazel, Vezzani said that the value of LunarCrush lies in its ability to bring overlooked and underused metrics to the user. Other analytics platforms require users to seek metrics themselves, which both Vezzani and Farjo believe limits their usefulness to the user.

There are three major metrics users should focus on when researching projects, Vezzani explained, with social volume being the most important one. LunarCrush identifies social volume by capturing every time a social post mentions a particular coin and then identifies the trend over time.

LunarCrush also captures social engagement within the posts it analyzes, looking at the number of comments and conversations happening within each social post. In addition to that, the platform also analyzes the number of social contributors. Vezzani explained that besides being a way to wean out bots and spam, looking at the number of contributors also shows the overall size of a coin’s community.

All of these metrics are then combined with a particular token’s market activity to form what the platform calls the Altrank.

Vezzani noted that the Altrank is an extremely useful tool when it comes to identifying fast-growing and promising projects. LunarCrush was among the first platforms to notice the growth of the Avalanche community way before the price of AVAX began to react.

To complement its existing tools, LunarCrush is building an entirely new suite of DeFi products called LunarFi. Farjo said that the products are the company’s push to provide its community with value that wasn’t locked in the platform.

The first DeFi product LunarCrush launched was staking for its native LUNR token. LunarCrush users are able to earn the platform’s native token through participation and unlock different tiers and features on the platform. If users decide to take the value they’ve earned on LunarCrush elsewhere, they can easily pull their tokens from the platform, Farjo explained.