DEV Community: Yos Riady

Introducing Solana Support, Smarter Ask AI, Mobile Attribution, and Dashboard Improvements

Yos Riady — Fri, 15 May 2026 02:38:20 +0000

gm, builders! 👋

Here’s your roundup of April 2026's onchain news and growth insights.

Highlights

Historical Wallet Data, Solana Support, and Mobile Lifecycle Events
Multi-Anchor Flows, Dashboard Improvements, and CLI
Extra Usage, Smarter Ask AI, Top Channels, and Mobile Attribution
User Properties, Custom Labels, Audit Log, and Improved Wallet Search
DeFi Incentives and Long-Term Growth: Why Token Rewards Fail (2026 Guide)
TVL vs Active Users in DeFi: Which Metric Predicts Growth (+ 5-Signal Framework)
DeFi Liquidity Bootstrapping: What Works (2026 Guide)
DeFi Go-to-Market Strategy: 3 Key Pillars That Retain TVL (2026 Guide)
Web3 Monthly Recap

Introducing Historical Wallet Data, Solana Support, and Mobile Lifecycle Events

Formo now gives DeFi teams deeper visibility into wallet history, revenue behavior, and Solana users across their growth funnel.

These updates make it easier to understand how high-value users evolve over time, attribute revenue to specific events and channels, and capture mobile user activity automatically.

Volume and Revenue Timeseries: View how each user’s volume and revenue change over time directly from the wallet profile page. The chart shows full attribution across events, referrers, UTMs, and referrals, making it easier to identify key revenue signals and understand the history of individual wallets within your app.
Historical Wallet Data: View past snapshots of a wallet’s net worth, apps, and tokens by selecting a date from the wallet profile page. Historical wallet data gives teams a clearer picture of how users’ onchain activity and portfolios have changed over time.
Solana Wallet Profiles: Formo now supports Solana wallet addresses alongside EVM wallets, helping teams turn anonymous Solana addresses into rich profiles with social data and token balances.
Solana SDK: Framework Kit Integration: The Solana integration now works with framework-kit and @solana/kit, supporting the newer stack that supersedes the web3.js and wallet-adapter approach.
React Native SDK: Mobile Lifecycle Events: The React Native SDK now automatically captures install, update, open, and background events following the standard mobile lifecycle spec.
Improved Slack Alerts: Slack alerts have been redesigned for better readability. Teams can also customize which event properties appear in each alert, with a live preview before saving.

Learn more

Introducing Multi-Anchor Flows, Dashboard Improvements, and CLI

Formo now gives DeFi teams more flexible ways to explore user journeys, compare performance over time, and build dashboards faster.

These updates make it easier to understand how users move across your app, organize analytics workflows, and query data with more powerful SQL and CLI tools.

Multi-Anchor Flows: Flow charts now support multiple anchor steps, letting you visualize how users move through several key events instead of just one. This gives teams a more complete picture of the user journey across their DeFi app.
Compare Previous Period: Compare Overview page data with the previous time period to understand performance across consecutive windows. For example, when 30D is selected, all Overview charts compare against the prior 30D period, making it easier to spot trends and measure whether metrics are improving or declining.
Ask AI Dashboard Creation: Ask AI can now create entire dashboards from a prompt. Describe what you want to track, and Ask AI will generate a complete dashboard with relevant charts that can be saved as a new dashboard.
Reorder Charts: Reorder charts on custom dashboards to put the most important metrics front and center.
Duplicate Charts: Duplicate any chart in a custom dashboard to quickly create variations with different filters, time ranges, or breakdowns.
Move Charts Between Dashboards: Move charts from one dashboard to another, making it easier to reorganize dashboards without recreating charts from scratch.
SQL: Dynamic Date Variables: Charts now support dynamic date range filtering through template variables in SQL queries. Instead of hardcoding dates, charts can automatically adjust based on a shared date picker, making dashboards more interactive across different time windows.
SQL: Price Oracle Functions: Use price oracle functions in SQL queries to convert token amounts into USD values directly, without manually joining external price data.
Formo CLI: The Formo CLI, @formo/cli, is now available. It gives teams an agent-friendly terminal interface for working with Formo, from querying data to creating charts and more.

Learn more

Introducing Extra Usage, Smarter Ask AI, Top Channels, and Mobile Attribution

Formo now gives growing DeFi teams more reliable tracking, smarter AI analytics, and clearer attribution across web and mobile.

These updates make it easier to avoid data loss during usage spikes, understand where users come from, and use Ask AI for more accurate analytics, product, SDK, and API answers.

Extra Usage: Workspaces with a payment method can now go above their plan’s MAU limit without missing data. Overages are billed as a one-time charge at the end of the cycle, and teams can set a monthly spend cap to avoid surprises.
Ask AI Gets Smarter: Ask AI can now answer product, SDK, and API questions by searching and citing the exact doc pages it used. It also includes updated SQL functions and variables, stricter chart validation, cleaner answers, improved dashboard saving, and new guardrails to keep responses focused on analytics questions it can answer well.
Top Channels: View a Channels chart alongside Referrers and UTM. Referrers, UTMs, and other properties are automatically grouped into marketing channels like Organic Social, Paid Search, Direct, Referral, and Email, so teams can understand traffic composition without manually bucketing domains.
Click IDs for Paid Attribution: The Web SDK now captures and persists click ID parameters from landing page URLs alongside UTMs, helping attribute paid traffic from Google, Meta, TikTok, LinkedIn, Reddit, and X to the campaigns that drove it.
Install-Time Mobile Attribution: The React Native SDK now captures install-time attribution from the Google Play Install Referrer API on Android and Apple AdServices on iOS. Deep link attribution still takes precedence, and merge logic only fills empty fields so real deep links are never overwritten.

Learn more

Introducing User Properties, Custom Labels, Audit Log, and Improved Wallet Search

Formo now helps DeFi teams enrich wallet profiles with first-party data, track workspace changes, and find users across wallet and social identifiers.

These updates make it easier to use Formo as a single source of truth for your users, combining first-party identity data with product, web, and onchain activity.

User Properties and Labels: Add first-party user properties and custom user labels to wallet profiles from the dashboard or API. Set custom display names, emails, socials, avatars, locations, and other identity fields, then tag wallets with labels like VIP tier or KYC status.
Unified User Profiles: Custom properties and labels work with existing segments, filters, and charts out of the box. Push user properties and labels into Formo’s customer data platform, then use the unified profile across product analytics, attribution, segmentation, and outreach.
Workspace Audit Log: Workspaces now record an Audit Log of key actions, including invites, role changes, project updates, billing changes, and other workspace changes. This supports SOC2 readiness and gives teams better visibility when multiple admins manage the same workspace.
Improved Wallet Search: Search wallets from social profiles on the Users page and Profile Search API. Search by partial address, ENS name, Twitter handle, or any social identifier, and Formo will find the matching wallet profile.

Learn more

DeFi Incentives and Long-Term Growth: Why Token Rewards Fail (2026 Guide)

This article covers why token incentives often create short-term DeFi activity instead of sustainable growth, how mercenary liquidity distorts TVL and user metrics, and how teams can design rewards that reinforce real usage by measuring organic volume, retention, and long-term protocol utility.

Learn more

TVL vs Active Users in DeFi: Which Metric Predicts Growth (+ 5-Signal Framework)

This article covers why TVL and active users can both mislead DeFi teams when viewed alone, how capital, wallet activity, volume, fees, and retention each reveal different parts of protocol health, and how teams can use a five-signal framework to measure whether growth is real, durable, and economically meaningful.

Learn more

DeFi Liquidity Bootstrapping: What Works (2026 Guide)

This article covers when liquidity bootstrapping helps DeFi protocols solve the cold start problem, why incentive-driven TVL often disappears once rewards end, and how teams can transition from mercenary capital to sustainable growth by tracking wallet retention, first transactions, organic volume, and post-incentive usage.

Learn more

DeFi Go-to-Market Strategy: 3 Key Pillars That Retain TVL (2026 Guide)

This article covers why successful DeFi launches depend on aligning distribution, liquidity, and onboarding from day one, how teams can avoid mistaking incentive-driven TVL for real traction, and why tracking wallet connects, transactions, retention, and onchain user profiles early is critical for turning launch attention into sustainable growth.

Learn more

Web3 Monthly Recap

Why marketing isn't enough anymore by Artem Sinyakin (OAK Research).
The GTM success recipe: PMF, UX and marketing by Maria Magenes (SpaghettETH, Hype).
Drift says $270 million exploit was a six-month North Korean intelligence operation by Shaurya Malwa (Coindesk).
Everything is DCF by Felipe Montealegre (Digital Asset Summit 2026 New York).
Things we’re excited about for consumer crypto in 2026 by Social Graph Ventures.
The Ethereum Security Subsidy Program by Ethereum Foundation.
How @SkyEcosystem Built the Most Resilient Stablecoin in DeFi with @RuneKek by The Rollup.
Everything is Market by Jesse Walden.

Read our previous update HERE.

Ethereum Fusaka Upgrade: What You Need to Know

Yos Riady — Mon, 23 Mar 2026 01:11:46 +0000

The Ethereum roadmap continues to unfold with the Fusaka upgrade, set to follow the Pectra hard fork. Planned for the fourth quarter of 2025, Fusaka is an important step forward, designed to improve the experience for both Ethereum users and developers. It's an infrastructure-focused update, introducing new features aimed at enhancing scalability and network efficiency.

This post breaks down the key components of the Fusaka upgrade. You will learn about the major changes, including Peer Data Availability Sampling (PeerDAS), new safety limits, and tools for developers. By the end, you'll have a clear understanding of what Fusaka is, how it works, and why it matters for the future of Ethereum and its Layer-2 ecosystem.

Key Features and Enhancements

Fusaka is a collection of about a dozen Ethereum Improvement Proposals (EIPs) that make the protocol faster, leaner, and cheaper to use. These changes primarily benefit Layer-2 networks like Arbitrum, Optimism, and Base, which now handle most of Ethereum's activity.

Peer Data Availability Sampling (PeerDAS)

PeerDAS is the headline feature of the Fusaka upgrade. Currently, Layer-2s post their transaction data to Ethereum in packages called "blobs." Every full node must download all of this data to verify it. As L2s grow, this creates a data bottleneck.

PeerDAS changes this by allowing nodes to check small, random samples of the data instead of downloading everything. This approach dramatically reduces the data that nodes need to check, which could enable up to an eight-fold increase in data space over time. More data space leads to lower competition, which in turn reduces transaction fees on Layer-2s.

Blob-Parameter-Only (BPO) Forks

As Layer-2 networks expand, they require more data space on Ethereum. To meet this demand without waiting for major hard forks, Fusaka introduces Blob-Parameter-Only (BPO) forks. These are small, focused updates that allow the network to incrementally raise blob targets between larger upgrades. This flexibility helps Ethereum adapt more quickly to the growing needs of L2s.

Safety and Performance Hardening

To handle increased activity safely, Fusaka adds several new network regulators:

Caps on per-transaction gas to prevent a single transaction from consuming an entire block.
Tighter MODEXP limits and revised pricing for certain heavy computational operations to prevent abuse.
A 10 MiB RLP block size cap to prevent spam and keep nodes running smoothly.
History expiry support to help nodes stay lean by allowing them to ignore very old historical data. Execution clients began supporting partial history expiry in July 2025.

New Developer Features

Fusaka also brings powerful new tools for developers:

Secp256r1 precompile enables wallets to use your phone's built-in security features, like Face ID or fingerprint sensors (passkeys), to approve transactions.
The CLZ opcode adds an instruction for counting leading zeros, making complex on-chain math cheaper and more efficient for advanced applications.

Key EIPs in the Fusaka Upgrade

The Fusaka upgrade is composed of several key EIPs that deliver these improvements. Here are some of the most important ones included in the fork:

EIP-7594 (PeerDAS): Enables nodes to verify L2 data by sampling instead of downloading everything.
EIP-7892 (Blob Parameter Only Hardforks): Creates a mechanism to increase L2 data space between major upgrades.
EIP-7951 (Precompile for secp256r1 Curve Support): Allows wallets to use device-native security like Face ID.
EIP-7939 (Count Leading Zeros Opcode): Adds a tool for more efficient on-chain math.
EIP-7825 (Transaction Gas Limit Cap): Prevents any single transaction from monopolizing a block.
EIP-7934 (RLP Execution Block Size Limit): Sets a hard limit on the physical size of a block to prevent spam.
EIP-7823 & EIP-7883 (MODEXP Bounds and Gas Cost Increase): Adjusts the cost of a specific function to reflect its computational weight and prevent abuse.
EIP-7917 (Deterministic Proposer Lookahead): Makes the network more predictable, enabling near-instant L2 confirmations.
EIP-7918 (Blob Base Fee Bounded by Execution Cost): Adjusts the blob fee market to maintain price stability during high L1 congestion.
EIP-7642 (History Expiry and Simpler Receipts): Allows nodes to prune very old history, simplifying the sync process.
EIP-7935 (Set Default Gas Limit to 60M): Increases the computational capacity of each block on the main network.
EIP-7910 (eth_config RPC Method): Adds a tool for node operators to verify their upgrade configuration.

Fusaka Upgrade Timeline

Fusaka will be deployed in phases, beginning with testnet activations before the mainnet launch:

Holesky testnet: Activation planned for October 1, 2025
Sepolia testnet: Activation planned for October 14, 2025
Hoodi testnet: Activation planned for October 28, 2025
Mainnet target date: December 3, 2025 (dates subject to change based on testnet results)

How Fusaka Impacts You

The Fusaka upgrade is a technical hard fork focused on improving Ethereum's core infrastructure. Here’s what it means for different groups in the ecosystem:

For Users: You don't need to take any action. You will experience the benefits indirectly through faster and cheaper transactions on Layer-2 networks. New apps will also be able to use your phone's biometrics for a simpler and safer user experience.
For Developers & L2 Teams: Fusaka offers cheaper data and new tools, like passkey support and the CLZ opcode. These changes reduce gas costs and simplify development for applications using advanced logic.
For Node Operators: The only action required is to update your client software to a Fusaka-compatible version before the mainnet activation date of December 3, 2025.

The Fusaka upgrade helps Ethereum handle more transactions and operate more efficiently. It increases the gas limit and adds smart data verification with PeerDAS and Verkle Trees. This change supports future growth while keeping Ethereum secure.

As with any upgrade, be aware of scams. No one will ever ask you to "upgrade" your ETH. Your assets are safe, and no action is needed on your part to protect them.

What’s Next for Ethereum

Following Fusaka, the Ethereum roadmap continues with the "Glamsterdam" upgrade, planned for 2026. This next upgrade will further Ethereum's scalability, security, and sustainability. Specific EIPs and technical details have not yet been announced.

Frequently Asked Questions (FAQs)

What is Fusaka, and why is it important?

Fusaka is a major upgrade in the Ethereum roadmap designed to enhance security, scalability, and overall network efficiency. It represents a critical step toward ensuring Ethereum remains a leader in decentralized technology while preparing for future innovations.

Do I need to take any actions to prepare for the Fusaka upgrade?

No action is required on your part. Your ETH and other assets remain safe throughout the process. Be cautious of scams. No one will ask you to upgrade your ETH or move it elsewhere for the upgrade.

How does Fusaka improve Ethereum’s scalability?

Fusaka introduces optimizations that reduce network congestion and improve transaction speeds. This enables Ethereum to handle more transactions per second, setting the foundation for a more scalable ecosystem.

What comes after Fusaka?

The next planned upgrade is Glamsterdam, scheduled for 2026. While specific details of Glamsterdam are still under discussion, it aims to further improve Ethereum's scalability, security, and environmental sustainability.

Will my existing Ethereum applications or smart contracts be affected by Fusaka?

No, your existing Ethereum applications or smart contracts will continue to operate as usual. The upgrade ensures backward compatibility while offering enhanced functionality and performance benefits for developers and users alike.

How to Find Crypto Power Users

Yos Riady — Mon, 23 Mar 2026 01:07:45 +0000

For any onchain project, knowing your most active and influential users in web3 is critical to sustainable growth. These are your crypto power users - the individuals who don't just participate in your ecosystem but actively shape it.

This guide provides a clear, step-by-step approach for identifying these key players within the DeFi and crypto space. Using onchain analytics and user segmentation is essential for this process, allowing you to move beyond guesswork and make data-driven decisions about your most valuable community members.

You'll learn what defines a power user, which metrics to track, the tools that make data collection possible, and how to leverage this information for meaningful product growth. Building without analytics is like wandering a dark forest - you might feel like you're moving, but the path is unclear.

What is a Crypto Power User?

A crypto power user goes far beyond someone with high transaction volume. These individuals actively shape the ecosystem and drive meaningful change within your protocol.

Power users typically demonstrate these characteristics:

High-frequency trading activity or significant transaction volumes
Active governance participation through voting on proposals and community decisions
Substantial staking or liquidity provision that supports protocol stability
Strong community influence on platforms like Farcaster, X, or Discord
Multi-protocol engagement across different DeFi applications

These users provide immense value to your project. They supply liquidity when markets are volatile, drive adoption through word-of-mouth recommendations, offer crucial feedback during product development, and act as authentic brand advocates within the broader crypto community.

Key Metrics for Identifying Power Users

You can't improve what you don't measure. Identifying power users starts with tracking the right metrics through onchain analytics.

Essential Metrics to Track

Transaction Volume & Frequency measures both how much users transact and how often they engage with your protocol. Look for patterns of consistent, meaningful interaction rather than one-time large trades.

Governance Participation tracks votes cast, proposals created, and engagement in protocol decision-making. Users who participate in governance demonstrate long-term commitment to your project's success.

Staking & Liquidity Provision shows the amount and duration of assets users commit to your protocol. These metrics reveal users who have skin in the game and support your ecosystem's stability.

Protocol Interaction counts the number of different smart contracts a user engages with, indicating their depth of involvement across your platform's features.

Community Influence measures engagement levels on social platforms, helping you identify voices that carry weight in crypto conversations.

This is where DeFi analytics tools become critical for gathering and analyzing this data effectively.

How to Collect the Data: Tools & Strategies

Gathering the necessary data requires a practical approach combining multiple data sources.

Blockchain Analytics Platforms

Web3 analytics platforms like Dune, Nansen, and specialized tools simplify the process of querying wallet data. These platforms allow you to filter users based on your key metrics and export lists of wallet addresses that meet your criteria.

These tools provide pre-built dashboards and custom query capabilities, making it easier to identify patterns in user behavior without requiring deep blockchain development knowledge.

Blockchain Explorers

Etherscan, Solscan, and similar explorers enable manual investigation of specific wallets. While time-consuming for large-scale analysis, these tools are valuable for detailed investigation of individual high-value users.

Social Media & Forum Monitoring

Tools for tracking influential voices on X, Discord, and Farcaster help connect onchain activity with offchain influence. This creates a complete picture of user engagement across your ecosystem.

Building Your Power User List

Follow this step-by-step process to create your power user database:

Step 1: Define Your Criteria

Set specific thresholds for each metric you're tracking. For example, users with over $100,000 in transaction volume, interaction with more than 5 DeFi applications, or participation in at least 3 governance votes.

Step 2: Query the Blockchain

Use blockchain analytics tools to run queries based on your defined criteria. Export lists of wallet addresses that meet your thresholds. Most platforms allow you to combine multiple criteria for more targeted results.

Step 3: Enrich the Data

Cross-reference wallet addresses with social media handles or known identities where possible and ethical. This helps you understand the people behind the wallets and their influence within the community.

Step 4: Segment Your List

Group users into categories for targeted engagement:

Whales: High-value transactors who provide significant liquidity
Governors: Active participants in protocol governance
Super-Stakers: Long-term asset commitments and loyalty
Influencers: Strong community voices and advocates

Ethical Considerations

User privacy remains paramount when analyzing wallet data. Focus exclusively on public, onchain information that's already available through blockchain explorers.

Be transparent about your methods if you plan to engage these users directly. Avoid linking wallet addresses to sensitive personal information without explicit consent. Remember that blockchain data is permanent and public, but that doesn't mean all uses of this data are appropriate.

Leveraging Your Power User List

Your power user list unlocks significant value when used strategically:

Product Development benefits from inviting these users to beta test new features or provide feedback on upcoming releases. Their experience and investment in your success make their input invaluable.

Community Building can create exclusive channels or special roles for power users in your Discord server, fostering deeper engagement and loyalty.

Marketing Initiatives like targeted airdrops or reward programs can strengthen relationships with your most valuable users while encouraging similar behavior from others.

Growth Strategy uses power user behavior as a model to understand what attracts and retains high-value participants in your ecosystem.

Frequently Asked Questions

What makes someone a crypto power user versus a regular user?

Crypto power users demonstrate sustained engagement across multiple dimensions - high transaction volumes, governance participation, community influence, and long-term commitment through staking or liquidity provision. Regular users might participate in one area but lack the comprehensive engagement that defines power users.

How often should I update my power user list?

Update your list monthly or quarterly, depending on your protocol's activity level. Onchain analytics allows you to track changes in user behavior over time, so regular updates ensure you're working with current data and can identify emerging power users.

Can I identify power users across multiple blockchains?

Yes, many web3 analytics platforms support cross-chain analysis. Users often operate across multiple networks, so tracking their activity on different chains provides a more complete picture of their engagement and influence.

What's the difference between transaction volume and transaction frequency?

Transaction volume measures the total value of transactions, while frequency tracks how often someone transacts. A power user might have moderate individual transaction sizes but transact very frequently, or make occasional large transactions. Both patterns indicate engagement.

How do I respect user privacy while building these lists?

Focus on public onchain data and aggregate patterns rather than individual behavior tracking. Be transparent about data collection methods and avoid connecting wallet addresses to personal information without consent. Consider implementing privacy-first approaches in your engagement strategies.

Which metrics are most predictive of long-term user value?

Governance participation and staking behavior typically indicate long-term commitment better than transaction volume alone. Users who vote on proposals and lock up assets demonstrate belief in your protocol's future success.

How can I use power user data for product development?

Analyze how power users interact with different features to understand what drives engagement. Their usage patterns reveal which features provide real value and which might need improvement. This data guides feature prioritization and user experience optimization.

Should I treat all power users the same way?

No, segment power users based on their primary behaviors. Governance-focused users respond to different incentives than high-volume traders or long-term stakers. Tailored engagement strategies prove more effective than one-size-fits-all approaches.

Start Building Your Power User Strategy

Identifying and engaging crypto power users requires a systematic approach: define your criteria, measure the right metrics, collect data through reliable tools, and leverage insights for growth.

This process isn't a one-time task but an ongoing effort that requires the right onchain analytics infrastructure. The most successful protocols continuously monitor their power user base and adapt their engagement strategies based on changing behaviors and market conditions.

Ready to identify your most valuable users? Start building your power user list today and transform how you understand and grow your onchain community.

How to Track Content and Media Performance in Web3

Yos Riady — Mon, 23 Mar 2026 01:07:34 +0000

Web3 marketing teams often struggle to prove ROI. It's easy to point to vanity metrics like social media impressions or community size, but these numbers are often easy to fake and don't reflect actual growth. Traditional analytics tools like Google Analytics or Mixpanel fall short because they can't see what happens onchain. They can't track wallet interactions or smart contract events, leaving you with an incomplete picture of user behavior.

This is where dedicated web3 marketing analytics comes in. By connecting your marketing efforts to onchain actions and revenue, you can finally measure what moves the needle. This guide will show you how to set up tracking mechanisms, identify key marketing KPIs, and use the right tools to measure true marketing performance.

Why Traditional Marketing Analytics Fail in Web3

Web2 analytics tools weren't built for the blockchain. They rely on cookies and email addresses to track users, but in web3, the primary identifier is a pseudonymous wallet address. This fundamental difference creates several challenges:

Pseudonymous Users: One person can have multiple wallets, and wallets can be shared or temporary. This makes it difficult to track a single user's journey accurately.
Cross-Chain Fragmentation: User journeys often span multiple blockchains. Without multi-chain analytics, you're only seeing a fraction of the story.
Onchain vs. Offchain Data: A user might discover your project on Twitter (offchain), connect their wallet on your website, and then perform a swap on a DEX (onchain). To get a complete view, you need to connect both onchain and offchain data points.

Essential Web3 Marketing KPIs That Actually Matter

To prove your marketing's value, you need to track metrics that directly connect to onchain activity and revenue. Forget vanity metrics and focus on these essential blockchain marketing metrics.

Onchain Metrics

Onchain metrics give you a clear view of how users are interacting with your protocol.

Daily/Weekly/Monthly Active Wallets (DAU, WAU, MAW): This is the web3 equivalent of daily or monthly active users. It tracks the number of unique wallets interacting with your smart contracts, showing user stickiness and engagement over time.
Token Metrics: Keep an eye on transaction volume, the number of token holders, and trading activity on decentralized exchanges (DEXs). These metrics indicate the health and demand for your token.
Smart Contract Interactions: Track how often users interact with key functions like staking, swapping, or minting. This shows which features are most valuable to your community.

Offchain Metrics

Offchain metrics help you understand how your marketing efforts are driving users to your platform.

Website Traffic Attribution: Measure how many website visitors connect their wallets. This links your offchain content and ads to onchain identities.
Social Media Engagement: Don't just track likes and shares. Measure how many users click through from social media and then perform an onchain action.
Email Campaign Performance: Segment your audience by token holdings or onchain behavior. For example, you can send a targeted email to wallets that minted an NFT but haven't staked it yet.
Community Growth: Monitor growth and engagement on platforms like Discord and Telegram, as these are often the first touchpoints for new users.

Setting Up Web3 Marketing Attribution

Web3 marketing attribution connects your marketing channels to onchain results. It’s how you know which campaigns are actually driving value.

Implement UTM Parameters: Use UTM tags on all your links (ads, social posts, emails). When a user visits your site, store these parameters. The moment they connect their wallet and perform their first onchain transaction, you can permanently link that UTM source to the wallet, giving you clear attribution.
Use Event Tracking: Monitor the entire user funnel, from the first website visit to the first onchain action. Tracking events like wallet_connected or token_swapped helps you identify where users drop off.
Wallet Clustering: Use techniques to group multiple wallets that likely belong to the same user. This can be done by analyzing transaction patterns or linking wallets to a single ENS domain, providing a more unified view of user behavior.
Integrate SDKs or APIs: Use specialized web3 analytics tools with SDKs or APIs to capture both onchain and offchain interactions in one place.

Measuring Campaign Effectiveness in Web3

With proper attribution, you can calculate the true effectiveness and ROI of your marketing.

Customer Acquisition Cost (CAC) & Lifetime Value (LTV)

CAC: Instead of cost per click, measure your Cost Per Wallet (CPW). Calculate this by dividing your campaign spend by the number of new wallets that performed a key onchain action.
LTV: Track the total onchain revenue generated by a wallet over its entire lifecycle. This gives you a clear picture of the long-term value of the users you acquire.
Channel Performance: Compare the LTV of users acquired from different channels (e.g., Twitter ads vs. a specific influencer) to see which ones bring in the most valuable users.

Attribution and ROI Analysis

Connect Campaigns to Outcomes: Measure the direct impact of your marketing on onchain results. For example, track how many token swaps or NFT purchases resulted from a specific blog post or ad campaign.
Measure Content ROI: Analyze which pieces of crypto content marketing lead to the highest rates of user activation.
Use Cohort Analysis: Group users by when they joined or the channel they came from. Analyzing these cohorts helps you understand retention patterns and the long-term impact of your campaigns.

Leveraging Advanced Web3 Analytics Tools

Several advanced web3 analytics platforms can give you the web3 marketing intelligence needed to succeed.

Specialized Platforms: Tools like Formo, Dune, and Nansen provide real-time blockchain data and dashboards for tracking wallet behavior and campaign attribution.
AI-Powered Interpretation: Some tools use AI to analyze blockchain data, helping you uncover hidden behavioral patterns and trends you might otherwise miss.
Cross-Chain Analytics: To get a full picture of user activity, use tools that offer cross-chain analytics to track user journeys across multiple networks.
Privacy-First Tracking: Leading platforms provide actionable insights while respecting user privacy, using methods that don't rely on cookies or invasive tracking.

Start Measuring What Matters

Building without analytics is like flying blind. You can't improve what you don't measure. By moving beyond vanity metrics to actionable web3 analytics, you gain a significant advantage. Data-driven decisions will help you build a better product, optimize your marketing spend, and grow your community faster.

Ready to get started? Audit your current tracking setup, begin monitoring onchain events, and establish your baseline KPIs. Explore an advanced web3 analytics platform to see how comprehensive campaign tracking can transform your growth strategy.

Frequently Asked Questions

1. What is the difference between web2 and web3 analytics?
Web2 analytics tools like Google Analytics track users via cookies and email addresses, focusing on offchain behavior like clicks and pageviews. Web3 analytics focuses on onchain actions tied to wallet addresses, such as smart contract interactions, token swaps, and NFT mints, providing a more direct link between marketing and revenue.

2. How do I track a user who uses multiple wallets?
Advanced web3 analytics platforms use wallet clustering techniques. By analyzing transaction history, behavioral patterns, and ENS domain registrations, these tools can identify and group multiple wallets that likely belong to the same user, creating a more unified user profile.

3. What are the most important KPIs for a new DeFi project?
For a new DeFi project, focus on user activation and capital inflow. Key metrics include the User Activation Rate (percentage of connected wallets making their first transaction), Net New TVL (Total Value Locked), and Transaction Volume. These KPIs show that users are not just visiting but actively using and trusting your protocol.

4. How can I measure the ROI of an influencer marketing campaign?
Provide each influencer with a unique link containing UTM parameters. When users click this link and connect their wallets, you can attribute their subsequent onchain actions (like token purchases or staking) back to that specific influencer. By comparing the onchain revenue generated to the cost of the campaign, you can calculate a clear ROI.

5. Can I implement web3 analytics without a large technical team?
Yes. Many web3 analytics platforms, like Formo, offer user-friendly SDKs and no-code solutions that simplify the process. These tools are designed to help marketing and product teams implement event tracking and build dashboards without needing extensive developer resources.

The Web3 Marketing Stack: Best Web3 Marketing Analytics and Growth Tools

Yos Riady — Mon, 23 Mar 2026 01:06:05 +0000

Traditional marketing analytics tools, like Google Analytics, have a fundamental blind spot in Web3: they can't see what happens onchain. They might track a click from a Twitter ad to your dApp, but the trail goes cold right when it matters most. Did that user mint an NFT? Did they stake tokens or execute a swap? For most Web2 tools, these critical conversion events are a complete mystery. And you can't improve what you don't measure.

This attribution gap exists because legacy platforms were built for a world of cookies and centralized user accounts, not one of wallets and onchain apps (dApps.) As Tom Tunguz notes, "Web2 marketing employs the cookie as the primary identifier of a person, not a wallet. There’s no bridge between web2 & web3 data, yet."

The solution is a purpose-built Web3 marketing stack: a set of specialized tools designed to connect offchain marketing efforts with onchain user actions. This post will guide you through the essential tools needed to build a powerful Web3 marketing analytics stack, helping you measure what matters, refine your marketing strategy, and drive real growth onchain.

Why Your Marketing Tools Don't Work for Web3

Web2 analytics tools fall short in the wallet-based, onchain environment of Web3. They depend on cookies, sessions, and centralized user IDs - methods that simply don’t translate when users are anonymous and interactions are driven by wallets and smart contracts.

As Tom Tunguz notes, Web3 analytics share some similarities with Web2 - tracking metrics like daily active users and cohorts - but they also introduce new dimensions. In addition to dashboards of user activity, marketers must track Discord engagement, token trades, and wallet behavior. The key questions shift: Are the people in my community also tokenholders? Who are the whales? How does my user base overlap with other projects? Which wallets are actively trading my tokens, and on which platforms?

Web3 marketing analytics bridges that gap. It’s about tracking user behavior across offchain channels (Twitter, Discord, email) and onchain actions (mints, swaps, transactions) with the wallet as the unique identifier. This approach solves several key challenges:

Data fragmentation: It unifies user data from siloed platforms and multiple chains.
User anonymity: It shifts the focus from traditional user accounts to wallet addresses.
Full-funnel tracking: It maps the entire user journey - from click to onchain conversion - without relying on cookies or pixels.

The Layers of a Modern Web3 Marketing Stack

A robust Web3 marketing stack connects marketing spend to onchain results. Organizing it into distinct layers provides a clear framework for building a future-proof setup.

Tunguz describes how data flows through the web3 marketing stack: analytics systems feed into segmentation tools, which cluster users into distinct groups. From there, campaigns can be designed and delivered through various channels, including airdrops, ad networks, or direct messaging.

Attribution software plays a pivotal role in this ecosystem. By linking acquisition channels, marketing campaigns, and ad impressions to onchain conversions, attribution enables true end-to-end cost-per-acquisition (CPA) and cost-per-conversion (CPC) tracking. With blockchain data being public, marketers gain unprecedented transparency and accountability. Whether it is built in-house or offered by specialized vendors, web3 analytics and attribution will likely emerge as a core category within the Web3 marketing stack.

Layer 1: Web3 Analytics & Attribution

As we've learned, analytics & attribution tools are the pivotal foundation of your web3 marketing stack, unifying fragmented data and revealing which campaigns actually drive meaningful onchain activity.

Analytics in Web3 track familiar metrics like daily active users, but also extend to Discord engagement, token trades, and wallet activity. Marketers need to answer new questions: Are community members also tokenholders? Who are the whales? How does our user base overlap with other projects?

Attribution is the glue that holds the stack together. By connecting ad impressions to onchain actions, it enables true end-to-end cost-per-acquisition tracking. Public blockchain data makes this transparency possible, ensuring accountability and maximizing ROI.

What they do:

Unify fragmented offchain and onchain user data.
Show which campaigns drive onchain activity like mints, swaps, and community growth.
Deliver wallet-level attribution so you know what works.

Why it matters: As Tunguz notes, onchain attribution is foundational. Every marketing strategy - from acquisition and retention to incentive design - requires clear visibility into which activities convert.

Tools:

Formo: A complete analytics and attribution platform for web3. Comes with a realtime dashboard and activity feed for product, web, and onchain analytics. Supports funnels, retention analysis, chartbuilding, and over 40+ EVM chains.
Spindl: Connects off-chain ad spend to on-chain outcomes, tracking conversions from ad clicks through to token swaps and contract calls.
Cookie3: A Web3 analytics platform focused on community engagement and influencer marketing.
Safary: A no-code analytics tool that links Web2 social audiences (like Twitter/X followers) to on-chain behavior.

Layer 2: Wallet Intelligence & Web3 CRM

Wallet intelligence platforms analyze onchain behavior to help you understand, segment, and engage your users with precision.

Segmentation builds on analytics by clustering users into groups, enabling targeted campaigns. These campaigns can run through channels such as airdrops, ad networks, or direct messaging. Ad networks both educate users about new projects and generate revenue for publishers and developers.

What they do:

Reveal user profiles based on wallet activity, DeFi apps, token holdings, and other signals.
Build segments and helps with campaign targeting.

Why it matters: Wallet-level CRM is replacing traditional email-based systems. Tunguz emphasizes this shift as essential for audience building and retention in Web3, where ownership and segmentation are defined by onchain behaviors.

Tools:

Formo: A web3 CDP that enables user segmentation by wallet properties, demographics, and marketing data. Allows for highly targeted user acquisition and deep insights into key touchpoints across the user journey.
MetaCRM: An onchain CRM that helps teams consolidate user data from blockchain activity.
Nansen: Spots high-value users and money flows with advanced smart wallet analytics and labeling.

Layer 3: Quests

Use these tools to connect with your onchain community, guide new users, and reward participation through quests, loyalty campaigns, and incentive-based programs.

What they do:

Activate and reward your onchain community
Deploy quests, loyalty programs, and incentive-based engagement campaigns
Guide users through value-driven actions (staking, swapping, or holding)
Offer point or reward structures tied to core onchain activity

Why it matters:
Robust engagement and quest tools drive user loyalty, increase retention, and foster authentic growth across your Web3 community. Incentivized tasks turn onboarding and discovery into habit, while loyalty mechanisms keep your most valuable users active and aligned.

Tools:

Galxe: Launch comprehensive loyalty and quest campaigns with credentialing and rewards.
Zealy: Gamify repeated participation and offer multi-chain quest logic.
Layer3: Create educational, modular quests that spark both learning and ongoing engagement.

Layer 4: Social Campaigns

These platforms allow you to run coordinated marketing campaigns across major social channels to maximize reach and viral momentum.

What they do:

Run coordinated marketing campaigns across social channels.
Reward and track community activity with tokens, points, or onchain badges.

Tools:

Tunnl.io: Provides robust management for both offchain and onchain social campaigns.
Jokerace: Drives engagement through community contests and votin
Megaphone: Automates and rewards social participation while offering in-depth campaign analytics.Quest platforms deploy incentivized onboarding and loyalty tasks that boost user retention and encourage word-of-mouth growth.

Layer 5: Community Management

These tools automate member verification, onboarding, and engagement for onchain communities, often using token-gating to manage access.

What they do:

Automate member verification, onboarding, and engagement.
Gate access to channels, verify identities, and issue onchain credentials at scale.

Tools:

Guild.xyz: Offers multi-platform, automated token gating for Discord and Telegram.
Collab.Land: Provides flexible permissions and robust integrations for Discord and Telegram.

Layer 6: Incentives

Incentive platforms help structure and automate onchain reward programs to drive specific user behaviors, such as providing liquidity in DeFi.

What they do:

Structure and automate onchain incentive programs.
Optimize marketing spend by focusing rewards on verifiable user behaviors and onchain metrics such as TVL.

Tool Examples:

Merkl: Automates and optimizes liquidity incentive programs with advanced tooling.
Boost: Enables launching targeted, trackable campaigns to drive measurable growth.
Divvi: Provides a plug-and-play engine for quickly creating and managing growth incentives.

Web3 Marketing Stack Best Practices

As you build your Web3 marketing stack, choose and layer the tools that align with your project's goals, stage, and user needs.

Define Clear Goals: Start by defining your core business objectives to prioritize which layers of the stack you need most.
Act on What Matters: Move beyond vanity metrics. Focus on data like Cost Per Wallet (CPW), Revenue Per Wallet (RPW), user retention, and Lifetime Value (LTV).
Select the Right Tools: Choose tools that offer support for onchain data, marketing attribution, and is easy to setup.
Unify Your Data: Integrate your onchain and offchain data sources to create a complete, unified view of your users.
User Journey Tracking: Understand the full user journey across both offchain and onchain touchpoints.
Track the Full Funnel: Use UTMs, referral links, and onchain analytics to map the entire journey from click to conversion.
Own Your Data: Prioritize tools that give you first-party data control, ensuring your stack is both future-proof and composable.
Automate Tasks: Consider tools with third-partty integrations, automation, and self-serve analytics to support growth at scale.
Stay Composable: Build your stack with flexibility in mind. The ability to swap or layer new tools as the Web3 ecosystem evolves will keep you nimble.

Measure What Matters

Building a successful onchain application requires a purpose-built Web3 marketing stack. You can't grow what you can't measure. By leveraging the right Web3 analytics tools, your team can finally move from guesswork to data-driven decision-making, unlocking new opportunities for growth and optimization.

Ready to get a complete picture of your users and measure what truly matters? Get started with Formo to level up your web3 marketing today.

Follow Formo on LinkedIn and Twitter, and join our community for more onchain growth insights.

Audience Insights, Wallet Labels, and proven frameworks to know your users better

Yos Riady — Mon, 23 Mar 2026 01:05:54 +0000

gm, builders! 👋

Here’s your roundup of this week's onchain news and growth insights.

Highlights:

New Feature: Audience Insights
Updates: Wallet Profile Platform Upgrades
Wallet Labels: The Ultimate Guide to Identifying and Understanding Your Web3 Users
Mastering Web3 Audiences: Proven Strategies, Tools, and Frameworks to Understand and Engage
Web3 Weekly Recap

New Feature: Audience Insights

Get a complete picture of your users with detailed analytics:

ARPU (Average Revenue Per User)
User lifecycle (new, returning, power users)
Top apps, tokens, and chains by user count & value

Understand who your users are - and what they do onchain.

Learn more

Updates: Wallet Profile Platform Upgrades

We’re rolling out major upgrades to Formo’s wallet profile pipeline and

datasets - with improved coverage across chains, apps, and tokens.

Improvements & Fixes

Added install instructions for Next.js (app & page router)
Added Next.js page router example code
See users’ apps, tokens, and chains on the users page

Learn more

Wallet Labels: The Ultimate Guide to Identifying and Understanding Your Web3 Users

Wallet labels transform anonymous wallet addresses into user insights, such as whales, bots, NFT collectors, and more.

With wallet labels, you can:

Segment users (new, returning, whales, bots)
Personalize onboarding and UX
Run high-ROI marketing campaigns
Detect fraud and filter out Sybils
Make data-driven product decisions

Learn more

Mastering Web3 Audiences: Proven Strategies, Tools, and Frameworks to Understand and Engage

Whether you're launching an NFT project, building a dApp, or growing a decentralized community, it all begins with understanding your audience.

Web3 Audiences Intelligence helps you:

Segment users by behavior, wallet balances, and onchain activity
Personalize onboarding, marketing, and product flows
Track performance across wallet cohorts
Power smarter campaigns and stronger communities

Learn more

Web3 Weekly Recap

All Property Becomes Cryptography. Balaji.Link
The Age of Tokenized Everything. Saurabh Deshpande & Joel John.Link
U.S. Passes Landmark Crypto Bill: The GENIUS Act. Vincent Charles.Link
Layer 2s Hit 3,500+ TPS, 1M+ Daily Stablecoin Txns. OurNetwork. Link

Read our previous update HERE.

How to Overcome Data Silos with Unified Web3 CDP Solutions

Yos Riady — Mon, 23 Mar 2026 01:05:43 +0000

Web3 ecosystems suffer from data silos across wallets, chains, and protocols, making it hard to track full user journeys or attribute revenue accurately. Unlike Web2, where identities are persistent, Web3’s pseudonymous nature fragments data and limits visibility into engagement, retention, and LTV.

A Web3 Customer Data Platform (CDP) solves this by unifying on-chain and off-chain signals into pseudonymous, activation-ready profiles. This enables accurate cross-chain attribution, segmentation, and personalization while preserving privacy.

Implementing a CDP improves attribution accuracy (from ~60% to 90%), completes cross-chain funnel visibility, and enhances behavioral segmentation. Key capabilities include:

Data extraction & normalization: Integrating smart contract logs, dApp events, and exchange data with schema standardization and enrichment.
Identity resolution: Probabilistically linking wallets across chains using behavioral and consent-based signals.
Activation & analytics: Enabling wallet-based personalization, marketing automation, and cross-channel attribution.
Monitoring & governance: Ensuring data completeness, accuracy, and reliability with automated QA and privacy-safe workflows.

Platforms like Formo exemplify this unified approach, connecting fragmented Web3 data into a coherent customer intelligence layer for growth, product, and analytics teams.

Understand the Impact of Data Silos in Web3 Ecosystems

Web3 data silos break customer intelligence across multiple wallets, chains, and protocols, preventing teams from reconstructing full user journeys or attributing revenue accurately - unlike Web2, where persistent identities simplify tracking.

Symptoms include incomplete funnels, misattributed revenue, and missed retention signals when a user's path spans browsers, wallets, and chains. Multi-chain fragmentation isolates activity on Ethereum, Polygon, and other networks into separate data stores, compounding attribution gaps.

A Customer Data Platform (CDP) or CRM consolidates signals from disparate systems into persistent unified profiles that teams can query and activate; in Web3, a CDP must merge wallet and off-chain event data while preserving pseudonymity.

Business impact after CDP implementation:

Metric	Before CDP	After CDP
Attribution Accuracy	30 - 40% of revenue unattributed	85 - 95% attribution coverage
Funnel Visibility	Fragmented, chain-specific views	Complete cross-chain user journeys
Segmentation Precision	Basic demographic splits	Behavioral cohorts based on on-chain activity

Identity resolution remains a core challenge: pseudonymous wallet addresses protect privacy but require probabilistic linking to estimate lifetime value, retention, and cross-protocol engagement.

Next, let's look at concrete steps for unifying fragmented data across data silos in crypto.

How to Extract Wallet and Onchain Data from Multiple Sources

A robust extraction pipeline ingests real-time on-chain events and batch off-chain activities, handling varied formats and cadences.

Essential sources:

dApp web events - page views, form submissions, wallet connections
Smart contract logs - transaction events, token transfers, NFT mints
Exchange activity - trades, deposits, withdrawals
Protocol telemetry - DeFi interactions, governance votes
NFT marketplaces - purchase history, collection activity
Third-party analytics - social metrics, community engagement

Each source needs specialized connectors and streaming ingestion for different formats and update schedules. Formo's approach demonstrates connecting dApps, exchanges, smart contracts, and protocol logs with cross-chain linking: https://formo.so/blog/best-web3-cdp-analytics-platform

Sample connector requirements:

Source Type	Update Frequency	Required Processing
Smart Contract Events	Real-time	ABI decoding, event parsing
Web Analytics	Batch (hourly)	Session stitching, UTM parsing
Exchange APIs	Rate-limited	Auth, pagination handling

Account for blockchain specifics - block reorganizations, congestion, and RPC reliability - by implementing retry logic and fallback sources to ensure consistent availability.

How to Link and Map User Identities Across Chains and Platforms

Identity resolution in Web3 relates multiple wallets and activity traces to a persistent profile using behavioral fingerprints, wallet interactions, and optional consented links while preserving pseudonymity.

Linking strategies:

Cross-chain transaction pattern matching: use timing, gas preferences, and protocol interaction patterns to probabilistically link wallets.
Consented linking via token-gated events: highest confidence when users voluntarily associate wallets through forms or social logins.
Chain-specific heuristics: ENS domains, multisig participation, and bridge patterns provide signals and confidence scores.

Resolution is inherently probabilistic; best practices include confidence scores, manual overrides for edge cases, and audit trails for compliance. Focus on behavioral patterns rather than attempting to map wallets to real-world identities.

How to Consolidate, Normalize, and Enrich Data for Accuracy

Transform raw blockchain and off-chain data through a four-step consolidation process:

Normalize schemas and timestamps (UTC), standardize addresses, map event types to canonical schemas.
Deduplicate and canonicalize addresses and events, resolve ENS names, eliminate redundancies.
Enrich with metadata and balances: token holdings, NFT collections, DeFi participation, governance activity.
Validate with sampling and automated QA: data quality monitors, outlier detection, consistency checks.

Normalization solves inconsistent protocol schemas (e.g., how "transfer" is represented across sources). Enrichment turns transactions into context-rich signals for segmentation and personalization. Automated QA catches decimal errors, timezone mismatches, and duplicate processing that would skew analytics.

How to Activate Unified User Profiles for Marketing and Product Use Cases

Unified wallet profiles enable precise activation across marketing, growth, and product touchpoints without exposing PII, supporting use cases impossible with fragmented data.

Marketing activations: push token-gated email segments, sync high-value cohorts to airdrops, and run loyalty mechanics based on lifetime on-chain spend.
Product activations: personalize dApp experiences, tailor onboarding, and trigger retention flows based on engagement patterns.

Formo’s customer 360 profiles provide segmentation, lifecycle tracking, and wallet labeling as activation-ready outputs that integrate with marketing and product tools.

Role-based access keeps outputs relevant:

Product teams: last on-chain activity, feature usage, lifecycle stage
Growth teams: acquisition channels, conversion events, LTV metrics
Business intelligence: full transaction histories, protocol participation, cohort analysis

Activation workflows preserve privacy by using behavioral and pseudonymous identifiers rather than linking wallets to real-world identities.

How to Leverage Advanced Wallet Intelligence and On-Chain Analytics

Advanced analytics convert consolidated wallet data into insights for decisions and optimization.

A wallet profile is a persistent record of on-chain and off-chain signals - traits, behavioral events, balances, and labels - used for segmentation and activation.

Capabilities:

Cross-channel attribution ties marketing spend to on-chain revenue, measuring CAC, LTV, and retention across the full journey.
Real-time engagement tracking captures page visits, in-app behavior, and transactions to enable precise multi-touch attribution.
AI-powered query generation lets non-technical users run natural language analysis without SQL or smart contract knowledge.
Fraud detection spots Sybil attacks, wash trading, and coordinated manipulation via wallet clustering and behavioral anomalies.

Attribution becomes most valuable when it links off-chain touchpoints to on-chain revenue events, delivering clear ROI for marketing efforts.

How to Build Funnels and Dashboards with No-Code Interfaces

No-code interfaces democratize analytics so product and growth teams can build funnels and dashboards without engineers.

Formo’s drag-and-drop interface maps full user journeys from initial web interaction through wallet connection to smart contract transactions.

Common no-code workflows:

Quick-start funnels: map page view → wallet connect → NFT mint to reveal conversion rates and drop-offs.
Revenue attribution dashboards: combine funnel conversions with on-chain revenue and LTV to show ROI.

The interface supports both beginners and advanced users: events, funnels, and attribution for quick insights, plus complex cohort analyses and multi-step attribution for power users.

How to Monitor Data Quality

Continuous monitoring preserves trust in CDP outputs and catches issues before they affect decisions.

Key monitoring areas:

Connector uptime and lag per source
Data completeness dashboards for missing events or wallet coverage
Schema drift alerts for upstream format changes

Web3-specific checks include RPC failures, block reorg detection, and congestion alerts. Automated validation tests check consistency, duplicates, and enrichment integrity; error logging and runbooks accelerate incident response.

Sample thresholds and runbooks:

Alert if connector uptime < 99% or data lag > 15 minutes.
Trigger runbooks for RPC node failures, API rate limits, or completeness below 95% for critical events.

Governance frameworks define data ownership, access controls, and quality standards to prevent new silos and ensure secure, auditable data use.

Summary

Web3 ecosystems are plagued by data silos that fragment user intelligence across multiple wallets, chains, and protocols. This fragmentation prevents teams from accurately reconstructing user journeys or attributing revenue - challenges that don’t exist in Web2, where persistent identities simplify tracking.

A Web3 Customer Data Platform (CDP) bridges these gaps by consolidating wallet, on-chain, and off-chain data into pseudonymous, activation-ready profiles that preserve privacy while enabling cross-chain visibility and smarter decision-making for crypto founders, growth, and product teams.

Frequently Asked Questions About Overcoming Data Silos with Web3 CDPs

How can I consolidate fragmented wallet data across multiple blockchains?

Use a Web3 CDP with cross-chain connectors and identity resolution to ingest multiple chains, link related wallets via behavioral and consented signals, and canonicalize them into persistent profiles - Formo illustrates this with cross-chain linking across Ethereum, Polygon, and others.

What causes data silos and incomplete wallet data in Web3?

Silos arise from multi-chain fragmentation, inconsistent protocol schemas, blockchain pseudonymity, and API limitations; each requires standardized ingestion, cross-chain identity resolution, and enrichment to resolve.

How do Web3 CDPs maintain data privacy and regulatory compliance?

They use privacy-first architectures with pseudonymous wallet profiles, consent-based collection (e.g., token-gated forms), and role-based access, enabling transparent auditing while preserving user pseudonymity; Formo’s SDK and design follow these principles.

What metrics help measure success in unifying Web3 data?

Track connector uptime and data completeness, plus business outcomes like improved segmentation accuracy, higher funnel conversion rates, and successful attribution of CAC, LTV, and on-chain revenue.

How do unified profiles enhance marketing personalization without exposing PII?

They rely on wallet labels, behavioral cohorts, token holdings, and lifecycle stages to target campaigns like airdrops or surveys using pseudonymous signals, enabling precise activation without mapping wallets to real identities.

What is a Value Moment in Crypto?

Yos Riady — Sun, 22 Mar 2026 15:11:01 +0000

Building a successful product is hard. It gets harder when you don't know how users use your product. For Web3 builders, understanding user behavior is crucial, but it's a significant challenge. Pseudonymity and disconnected data sources can make it feel like you're building in the dark.

This is where the "value moment" comes in. It's the specific action that shows a user has truly experienced your product's core benefit - the "aha!" that converts a curious visitor into a loyal user. Identifying this Web3 value moment is essential for growth, but it's not always straightforward.

This post provides a clear value moment definition for Web3, explains its importance, and shows you how to measure it.

What is a Web3 Value Moment?

A Web3 value moment is the key on-chain action where a user gets the core value from your dApp. It’s the point where your app's purpose "clicks," turning a passive observer into an active participant.

These moments are strong signals of user intent and product stickiness. Here are a few examples:

DeFi: A user completes their first swap on a DEX or stakes tokens in a yield protocol.
NFTs: A user mints an NFT from a new collection.
Gaming: A player wins their first on-chain tournament or crafts a valuable in-game asset.

Pinpointing your value moment helps you understand what truly matters to your users.

Why Identifying Value Moments is Critical in Web3

Tracking your Web3 value moment helps you focus your efforts on what actually drives growth and retention. Instead of getting lost in vanity metrics, you can concentrate on actions that create real value.

Key advantages include:

Better User Acquisition: Identify which marketing channels bring in users who reach the value moment, allowing you to double down on what works.
SmarterOnchain Attribution: Connect offchain campaigns, like a tweet or a blog post, to valuable on-chain actions. Finally, you can see the full journey from first touch to final transaction.
Improved Product Development: Understand which features lead to user activation. This data helps you prioritize your roadmap and build a product users love.

Traditional analytics tools like Google Analytics can't see onchain data, leaving you with a massive blind spot. A unified view of both on-chain and offchain data is necessary to truly understand your users' journey.

How to Measure Your Web3 Value Moment

To quantify your value moment, you need the right metrics. Effective Web3 analytics goes beyond surface-level numbers and focuses on actions that indicate genuine engagement.

Essential metrics to track include:

Transaction Volume: The total value processed by your protocol.
Total Value Locked (TVL): The value of assets secured in your smart contracts.
Unique Active Wallets: The number of distinct wallets interacting with your dApp.
Smart Contract Calls: The frequency of calls to your key contracts.

Measuring these metrics manually is a heavy lift. Platforms like Formo simplify the process by unifying your web, product, and on-chain data. This gives your team a clear picture of user behavior without needing a dedicated data team or complex SQL queries.

Find Your Path to Growth

Finding and measuring your Web3 value moment is essential for sustainable growth. It allows you to understand what's working, optimize your funnel, and build a better product. You can't improve what you don't measure.

Ready to find your value moment? See how Formo makes Web3 analytics easy.

FAQs

What is a Web3 value moment and how is it different from an aha moment?

A Web3 value moment is the first on-chain action a user takes that delivers your product's core promise, signaling they understand its utility. Unlike a traditional "aha moment," which is a feeling of insight, a value moment is a measurable, chain-recorded event like a wallet connection followed by a specific smart contract interaction. It marks the transition from user curiosity to active engagement.

Value Moment in Web2: A user realizes your tool can solve their problem.
Value Moment in Web3: A user executes their first swap on a DEX or mints their first item in a game.

How do I identify my dApp’s value moment using on-chain analytics?

To find your dApp's value moment, you need to analyze the actions of users who become long-term participants. Start by building funnels in your analytics tool to track the journey from first visit to key on-chain events. By comparing the behavior of retained users against those who churn, you can pinpoint the specific action that correlates with higher retention.

Define key user cohorts based on their sign-up week.
Analyze on-chain actions like a first trade, liquidity deposit, or governance vote.
Identify the action that most strongly correlates with long-term retention for your best user cohorts.

Which metrics should PMs track after defining a value moment?

After defining your value moment, focus on metrics that measure how effectively you guide new users to perform that key action. This helps you understand and improve your user activation and retention. Tracking these KPIs provides a clear view of your product’s health and growth potential.

Activation Rate: The percentage of new users who complete the value moment.
Time to Value: The average time it takes a new user to reach the value moment after their first visit.

Value Moment Retention: The percentage of users who perform the value moment and remain active in subsequent weeks.

Why Crypto Startups Struggle With High CAC and How to Fix it

Yos Riady — Sun, 22 Mar 2026 14:12:25 +0000

Web3 customer acquisition costs are crushing projects faster than bear markets. While traditional Web2 companies spend $10-50 per user, DeFi protocols burn through $85+ per acquisition. Gaming projects face $42 per player. The worst offenders? Airdrop campaigns hemorrhaging $500-$1,000+ per retained user.

For onchain builders, unsustainable CAC kills projects faster than any market downturn. Every dollar wasted on ineffective acquisition is a dollar not invested in product development or community building. The difference between thriving and dying often comes down to mastering these acquisition economics early.

This guide reveals the exact strategies, tools, and frameworks that successful Web3 projects use to optimize their user acquisition costs without sacrificing growth quality.

Understanding CAC in Web3: More Than Just Ad Spend

Web3 customer acquisition cost extends far beyond traditional marketing expenses. Your total CAC includes token emissions, airdrop distributions, liquidity mining rewards, bounty programs, influencer partnerships, and standard advertising spend.

The calculation remains simple: total acquisition costs divided by new customers acquired. But Web3 adds complexity with token-based incentives, multi-chain tracking, and defining what constitutes a "real" user versus a mercenary farmer.

Current Web3 CAC benchmarks paint a stark picture:

DeFi Protocols: ~$85 per user
Crypto Gaming: ~$42 per player
Airdrop campaigns: $500 - $1,000+ per retained user

These numbers dwarf Web2 benchmarks because Web3 faces unique challenges. Complex onboarding flows involving wallet creation, gas fees, and multi-chain navigation create 60-80% drop-off rates. Users must understand private keys, seed phrases, and transaction confirmations before they can even try your product.

The crypto-native audience remains relatively small, creating bidding wars on Twitter, Telegram, and Discord. Projects compete for the same users, driving acquisition costs skyward while quality decreases.

The Hidden CAC Killers in Web3

Four major factors drain Web3 marketing budgets without delivering sustainable users.

Expensive Acquisition Channels dominate most budgets. Airdrops promise quick user growth but attract mercenaries who dump tokens and disappear. Influencer marketing commands premium rates in crypto, yet followers rarely convert to active users. Liquidity mining rewards draw capital but often fail to build genuine product engagement.

Complex Onboarding Friction kills conversions before they start. New users face wallet installation, seed phrase backup, gas fee confusion, and multi-chain decisions. Each step eliminates potential users. Projects lose 60-80% of interested visitors during onboarding alone.

Targeting Saturation creates unsustainable competition. Everyone targets the same crypto Twitter accounts, Telegram groups, and Discord communities. This bidding war inflates costs while audience quality drops. The same mercenaries appear across multiple campaigns, optimizing for rewards rather than product value.

Unsustainable Token Incentives attract the wrong users. High-reward programs draw sophisticated farmers who maximize token extraction while providing minimal platform value. These users disappear the moment incentives stop, leaving projects with inflated user numbers but no genuine community.

Your Web3 CAC Optimization Roadmap

Step 1: Analyze Your Current Performance

Start by implementing proper attribution tracking. Most Web3 projects lack visibility into which channels deliver quality users versus token farmers. Use campaign tracking tools that connect initial touchpoints to onchain transactions.

Flooz discovered this through Cookie3's Campaign Manager, which revealed their highest ROI channels weren't where they expected. The platform tracked users from first click to final onchain transaction, showing which acquisition sources led to genuine engagement versus quick token grabs.

Create cohort analyses measuring retention beyond initial signup. Track users through meaningful activation events: first meaningful transaction, return visits, social shares, or referrals. This separates genuine users from mercenaries gaming your metrics.

Build attribution models connecting Web2 touchpoints to Web3 actions. Traditional analytics break down when users switch from social media to wallet interactions. Bridge this gap with tools designed for cross-platform Web3 user journeys.

Step 2: Map Onchain User Behavior

Leverage onchain analytics to understand wallet preferences, portfolio balances, and transaction patterns. This data reveals more about user quality than traditional demographics ever could.

Segment users based on onchain activity rather than Web2 characteristics. A wallet holding diverse DeFi positions behaves differently from one focused solely on NFT trading. A user bridging assets across multiple chains shows different intent than someone farming single-token rewards.

Use onchain data to build user profiles that inform acquisition strategy. Wallet age, transaction frequency, gas spending patterns, and protocol interactions reveal user sophistication and likely lifetime value.

Step 3: Optimize Your Full Marketing Funnel

Map your complete user journey from first touch to active engagement. Identify drop-off points using funnel analysis tools designed for Web3 flows. Most projects lose users during wallet connection, transaction signing, or multi-step onboarding processes.

A/B test onboarding flows to reduce friction points. Test social login options, embedded wallets, and progressive disclosure of complex concepts. Small improvements in conversion rates compound into significant CAC reductions.

Implement progressive onboarding that doesn't overwhelm new users. Instead of forcing immediate wallet creation, let users explore your product through read-only modes or demo accounts. Introduce Web3 complexity gradually as users demonstrate genuine interest.

Use session replays and user feedback tools to understand where confusion occurs. Web3 interfaces often assume knowledge that mainstream users lack. Every point of confusion increases abandonment rates and inflates your acquisition costs.

Proven Strategies to Slash Your Web3 CAC

Strategy 1: Fix Your Onboarding Experience

Social logins dramatically improve completion rates. Web3Auth case studies show 60% higher completion rates when users can start with familiar authentication methods before introducing wallet concepts.

Reduce wallet creation friction through embedded wallet solutions. Let users interact with your product immediately while wallet setup happens in the background. This approach captures interest before technical barriers create abandonment.

Create progressive onboarding flows that introduce Web3 concepts gradually. Start with familiar Web2 interactions, then layer in blockchain functionality as users demonstrate engagement. This approach respects the learning curve while maintaining conversion momentum.

Implement gasless transactions for initial interactions. Remove the barrier of users needing to acquire and understand gas fees before experiencing your product's value. Cover these costs initially and introduce gas concepts after users see clear benefit.

Strategy 2: Master Personalization and Segmentation

Traditional demographic segmentation fails in Web3. Instead, segment based on onchain behavior patterns. DeFi power users respond differently than NFT collectors or gaming enthusiasts. Tailor messaging and acquisition channels to these behavioral differences.

Create personalized content for different user archetypes. A DeFi degen needs technical depth and yield comparisons. An NFT collector wants community access and exclusive drops. Gaming users focus on play-to-earn mechanics and competitive elements.

Implement dynamic retargeting based on wallet activity. If someone connects a wallet but doesn't complete onboarding, retarget with simplified tutorials. If they complete one transaction but don't return, highlight additional features relevant to their first action.

Axie Infinity demonstrated this through player behavior segmentation. They identified different player types - scholars, managers, and casual players - then created specific win-back campaigns for each segment based on their play patterns and earning preferences.

Strategy 3: Build Community-Led Growth Engines

Transform users into evangelists through meaningful ambassador programs. Focus on genuine value delivery rather than pure financial incentives. Give top community members early access, exclusive content, and decision-making input.

OAK Network's Zealy program brought 5,000+ users with 80% engagement rates by gamifying community participation. Users earned points for educational content consumption, social sharing, and helpful community contributions - activities that build genuine engagement rather than mercenary behavior.

Create referral systems with meaningful rewards that don't attract farmers. Instead of token payments, offer exclusive access, governance rights, or unique experiences. This approach attracts users who value long-term community membership over quick profits.

Build organic word-of-mouth through genuine value delivery. The best acquisition happens when users can't help but share your product because it genuinely improves their Web3 experience. Focus acquisition spend on product improvement alongside marketing efforts.

Strategy 4: Strategic Partnerships and Co-Marketing

Partner with complementary protocols to share acquisition costs and audiences. Cross-promote with projects targeting similar but non-competing user bases. This approach expands reach while reducing individual campaign costs.

Polygon's partnership with Reddit for Collectible Avatars onboarded 3M+ wallets by leveraging Reddit's existing user base and trust. The collaboration introduced Web3 concepts through familiar social platform interactions, dramatically reducing onboarding friction.

Leverage ecosystem partnerships for native distribution. Build relationships with wallet providers, DEX aggregators, and infrastructure projects that can feature your protocol to relevant users. These partnerships often provide higher-quality users than broad advertising campaigns.

Cross-promote through content collaboration rather than just token swaps. Create educational content with partner projects that provides genuine value while exposing both audiences to complementary solutions.

Strategy 5: Implement Automated, Behavior-Triggered Campaigns

Set up automated sequences triggered by specific onchain actions. When users complete their first transaction, send follow-up education about advanced features. When they achieve certain milestones, offer relevant next steps or exclusive opportunities.

Create personalized re-engagement campaigns for dormant users based on their previous activity patterns. Someone who used to trade frequently but stopped gets different messaging than someone who never completed their first transaction.

Use smart contract events to trigger marketing actions automatically. When users stake tokens, trigger educational content about yield optimization. When they unstake, offer information about new staking opportunities or alternative yield strategies.

Implement lifecycle marketing based on user journey stages rather than time-based sequences. Advanced users need different content than newcomers. Behavioral triggers ensure messaging matches actual user sophistication and needs.

Common Web3 CAC Pitfalls (And How to Avoid Them)

Overspending on Hype destroys CAC efficiency. Flashy campaigns generate buzz but rarely deliver sustainable users. Viral moments fade quickly, leaving projects with expensive acquisition costs and no lasting community. Focus spend on sustainable channels that build genuine product adoption.

Ignoring True Activation Events inflates success metrics. Wallet connection doesn't equal engagement. Token claiming doesn't indicate product interest. Define activation events that correlate with long-term retention: meaningful transactions, return visits, or social engagement.

Over-Incentivizing with Unsustainable Rewards creates mercenary user bases. High-reward programs attract sophisticated farmers who maximize extraction while providing minimal platform value. Design incentives that reward genuine product usage rather than gaming behaviors.

Flying Blind Without Measurement wastes marketing budgets on ineffective channels. Proper attribution remains non-negotiable for CAC optimization. Without clear visibility into acquisition performance, projects continue funding failed strategies while missing optimization opportunities.

Neglecting Retention destroys unit economics. Focusing purely on acquisition while ignoring user retention creates a leaky bucket that never fills. High-CAC acquisition becomes sustainable only when paired with strong retention that increases user lifetime value.

Frequently Asked Questions

What's a good CAC benchmark for Web3 projects?
Target CACs vary by project type and stage. Early-stage DeFi protocols should aim for $50-85 per quality user. Gaming projects can justify $30-50 per engaged player. Avoid airdrop-heavy strategies that exceed $100 per retained user unless you have clear monetization plans.

How do I calculate CAC when using token incentives?
Include token distributions at current market value in your total acquisition costs. If you distribute $1,000 in tokens to acquire 10 users, that's $100 CAC regardless of whether users hold or sell. Token-based incentives are marketing expenses, not user-generated revenue.

Which analytics tools work best for tracking Web3 user journeys?
Cookie3 offers comprehensive campaign tracking with onchain attribution. Dune Analytics provides custom dashboard creation for user behavior analysis. Nansen delivers wallet profiling and segmentation capabilities. Choose tools that bridge Web2 touchpoints with Web3 actions.

How can I reduce CAC without sacrificing user quality?
Focus on onboarding optimization before increasing acquisition spend. Fix conversion barriers that cause quality users to abandon your funnel. Improve targeting through onchain behavioral data rather than broad demographic assumptions. Build retention systems that increase user lifetime value.

What's the difference between activation and retention in Web3?
Activation occurs when users complete meaningful onchain actions that demonstrate product understanding: first transaction, wallet connection, or feature usage. Retention measures return visits and continued engagement over time. Both metrics matter, but retention ultimately determines CAC sustainability.

Transform Your CAC Today: Your Action Plan

Successful Web3 CAC optimization requires systematic implementation of data-driven strategies, improved onboarding experiences, community-led growth engines, and strategic partnerships.

Start with comprehensive campaign analysis before implementing new acquisition strategies. Use proper attribution tools to identify which channels deliver quality users versus mercenaries. This foundation prevents wasted spend on ineffective acquisition sources.

Your 30-Day CAC Optimization Checklist:

Week 1: Implement proper attribution tracking and analyze current performance
Week 2: Map onchain user behavior patterns and identify activation events
Week 3: A/B test onboarding flow improvements to reduce friction
Week 4: Launch behavior-triggered campaigns for different user segments

Focus on building sustainable acquisition systems rather than chasing viral moments. Projects that master CAC optimization early gain competitive advantages that compound over time.

Ready to optimize your Web3 user acquisition costs? Start with proper analytics to understand your current performance, then systematically implement these proven strategies to achieve sustainable growth without burning through your marketing budget.

Web3 Lookalike Audiences: The New Growth Playbook for Crypto

Yos Riady — Sun, 22 Mar 2026 14:10:29 +0000

For Web2 marketers, perfecting audience targeting became a science. For Web3 teams, the anonymous nature of the space can make user acquisition feel like wandering in a dark forest. You might be moving, but the path forward is unclear. How do you find your next high-value user when everyone is just a string of characters?

The answer lies in translating a proven Web2 concept into the onchain world: lookalike audiences. Instead of relying on personal data and cookies, Web3 lookalike audiences are built using onchain data and wallet intelligence. By analyzing on-chain behavior - like transaction history, token holdings, and protocol interactions - you can find new, high-value users who mirror your best customers.

In today's competitive Web3 landscape, spray-and-pray marketing is no longer a viable strategy. It’s expensive, inefficient, and fails to attract the right customers. Precise targeting through Web3 lookalike audiences isn't just a "nice-to-have"; it's a core driver for sustainable growth, efficient user acquisition, and long-term retention.

This guide will cover what Web3 audiences are, why they are essential for growth, the challenges in building them, and their practical applications.

What Are Web3 Lookalike Audiences?

To understand Web3 lookalike audiences, let's quickly recap the Web2 model. Platforms like Meta and Klaviyo build lookalike audiences by analyzing user data such as demographics, interests, and online behavior. They find new people who share similar characteristics with your existing customers.

The Web3 paradigm shifts this model from personal data to on-chain behavior. Here, the "user" is a wallet address, and wallet intelligence is the key to understanding them. It involves analyzing a rich tapestry of on-chain data points:

DeFi Activity: Which protocols do they use? Are they a DeFi degen or retail user? Are they into fixed yield or perpetuals?
Token / NFT Holdings: What communities are they part of? What does their collection say about their interests?
Transaction frequency
Onchain attestations

A Web3 lookalike audience is a group of new wallet addresses that exhibit similar on-chain behaviors and characteristics to your existing high-value users. These could be your top traders, most loyal liquidity providers, or most engaged community members. By unifying insights from on-chain data (transactions, wallets) and off-chain data (session analytics, marketing intelligence, campaign touchpoints), you can move beyond surface-level targeting and build a precise, data-driven growth strategy.

Why Lookalike Audiences Are a Growth Engine for Web3

Leveraging deep wallet intelligence to build lookalike audiences provides a powerful engine for sustainable growth. It allows dApps to gain granular insights into wallet behaviors, understand user preferences, and adapt their strategies to meet community needs effectively.

Here’s why this approach is so transformative:

Precision Targeting Powered by Wallet Intelligence: Instead of casting a wide, expensive net, you can focus your efforts on users who closely match your best customers. Analyzing wallet behaviors like token holdings, transaction history, and dApp usage allows for precise segmentation and targeting.
Reduce Customer Acquisition Cost (CAC): Marketing spend and token incentives is directed at wallet addresses most likely to convert, based on historical behavioral patterns - not guesswork. This focus dramatically lowers CAC by eliminating wasted resources on uninterested audiences.
Higher Quality User Acquisition: Attract users who resemble your "whales" or power users. These users are more likely to have a higher lifetime value (LTV), engage deeply with your protocol, and contribute positively to the community.
Stronger Community & Network Effects: By identifying and attracting users already active in adjacent ecosystems (e.g., users of a complementary DeFi protocol), you can build a stronger, more interconnected community and amplify network effects.
Smart User Segmentation: Grouping users by transaction volume, activity level, or protocol interactions allows you to create custom campaigns and product experiences that drive action. This targeted approach boosts engagement and fosters loyalty.

The Hurdles: Challenges in Building Actionable Web3 Audiences

While the potential of Web3 lookalike audiences is immense, building them is not without challenges. Many teams struggle to overcome several key hurdles that prevent them from unlocking actionable crypto audience intelligence.

Data Fragmentation: User data is scattered across multiple blockchains (Ethereum, Polygon, Solana), dApps, and wallets. Creating a unified view of a user's activity is a significant challenge, a pain point frequently mentioned in discovery calls with Web3 teams.
The Pseudonymity Problem: A single user often operates multiple wallets, making it difficult to form a complete profile. The technical process of linking these wallets, known as wallet clustering, is complex but crucial for accurate audience building.
Onchain-to-Offchain Attribution: Connecting a user's on-chain actions (like a token swap) to their off-chain journey (like clicking a Twitter ad) is notoriously difficult. Tools like Dune are powerful for analysis but are often manual and not designed for real-time attribution, leaving marketing teams unable to measure ROI accurately.
Data "Noise": The on-chain world is filled with noise from bot-driven "sybil" attacks and wash trading. Differentiating genuine user activity from this noise requires sophisticated crypto audience intelligence to ensure you are targeting real, high-intent users.

The Building Blocks of Web3 Audience Intelligence

To overcome these challenges, a robust Web3 audience intelligence platform needs several foundational components. These building blocks work together to transform raw, fragmented data into clear, actionable insights.

Unified Data Insights: The first step is to use product analytics that can combine on-chain and off-chain data. This creates a 360° view of the user journey, from the first marketing touchpoint to their on-chain conversion, providing complete visibility for data-driven decisions.
Wallet Analytics: Accurately grouping wallets that belong to the same entity is essential. This is achieved by analyzing funding patterns (e.g., wallets funded from the same exchange account) and shared on-chain interactions, ensuring precise user profiling.
Cross-Chain & Social Linkage: A user's identity isn't confined to a single blockchain. Mapping their activity across multiple chains and integrating off-chain social signals from platforms like Farcaster or Lens provides a holistic view of their Web3 identity.
Advanced Behavioral Analytics: True understanding goes beyond simple token holdings. It requires analyzing complex patterns like transaction frequency and value, governance participation, and unique habits like NFT minting versus trading. This allows for deeper segmentation based on what users do, not just what they own.
Onchain User Segmentation: With a rich dataset, you can categorize wallets by roles (e.g., "DeFi Power User," "Perps Trader", "Passive Yield"), activities, transaction volume, and engagement level. This powers precision campaigns and tailored web3 growth initiatives.

By analyzing wallet properties, on-chain behaviors, and social signals you can reach new users who behave just like your top, most valuable users.

Practical Applications: Putting Lookalike Audiences to Work

Once you can build Web3 lookalike audiences, you can deploy them across your growth, product, and marketing strategies. Here are some ideas:

Hyper-Targeted Growth Campaigns:A new perpetuals DEX, for instance, could build a lookalike audience based on the most active traders from established platforms like GMX and dYdX. This allows them to run a targeted airdrop or incentives program that directly reaches high-potential users.
Proactive Retention Strategies:By identifying wallets that resemble recently churned users (e.g., they've stopped staking or their transaction frequency has dropped), you can proactively reach out. A targeted offer, like a special APY boost or an announcement about a new feature, can re-engage them before they leave for good.
Smarter Airdrop Distribution:Instead of a "spray-and-pray" airdrop that attracts bots and airdrop farmers, you can target a lookalike audience of "genuine DeFi users" - those who have participated in governance on other protocols. This filters out sybil attackers and ensures your tokens land in the hands of valuable community members.
Personalized Experiences:Imagine a Web3 gaming platform offering a special NFT weapon to new users whose wallets resemble those of top players. This personalizes the onboarding experience from the very first interaction, increasing engagement and retention.

Privacy for Web3 Lookalike Audiences

The power of lookalike targeting brings with it a responsibility to uphold the core ethos of Web3: user privacy and pseudonymity. It's crucial to walk the fine line between effective targeting and invasive surveillance.

Best practices include:

Respect Pseudonymity: Focus on analyzing behavioral cohorts, not deanonymizing individuals. The goal is to understand patterns, not to uncover personal identities.
Transparency: Be open with your community about how you are using on-chain data for targeting. Clear communication builds trust.
Opt-In Mechanisms: For more direct engagement, such as wallet-to-wallet messaging, always implement opt-in systems to prevent spam.
Avoid Over-Profiling: Ensure your crypto audience insights are used to enhance the user experience, not to stalk or exploit users.

The Future of Onchain Growth

Web3 lookalike audiences, powered by deep wallet intelligence, represent the next frontier for sustainable growth. They transform marketing from a cost center into a precise, high-ROI growth engine. The era of simply building a great product and hoping users will come is over. For any serious Web3 team, understanding and intelligently targeting your audience is now a fundamental requirement for success.

Start thinking about your own high-value users. Who are they, and what do they do on-chain? Answering these questions is the first step toward building a powerful growth machine.

Follow Formo on LinkedIn and Twitter, and join our community for more onchain growth insights.

Next steps

Many Web3 teams find themselves stuck with manual queries on tools like Dune. While powerful, these dashboards are often static and don't provide the real-time, actionable web3 user analytics needed to drive growth effectively.

This is where a platform like Formo comes in. Formo is designed to solve these pain points by unifying onchain and offchain data to provide real-time audience intelligence. Key capabilities include:

Real-Time Segmentation: Instantly create and analyze audience segments without writing complex SQL queries.
Automated Wallet Intelligence: Formo automatically profiles wallets, identifying DeFi traders, NFT collectors, and more, which can be used to build a seed audience for your lookalike models.
End-to-End Attribution: Finally connect your marketing campaign touchpoints to onchain conversions, allowing you to measure true ROI and optimize your spend.

By moving beyond static dashboards to an active intelligence platform, Formo helps teams can turn data into decisions and drive meaningful growth. Sign up for free.

Frequently Asked Questions (FAQs)

What is the difference between Web2 and Web3 lookalike audiences?

Web2 lookalike audiences are built using personal data like demographics, interests, and browsing history. Web3 lookalike audiences are created using pseudonymous on-chain data, such as transaction history, dApp interactions, and token holdings, focusing on behavior rather than personal identity.

How does wallet intelligence help improve user acquisition in crypto?

Wallet intelligence provides deep insights into a user's on-chain behavior, allowing you to identify what your best users have in common. This enables you to find and target new users who exhibit similar patterns, resulting in higher-quality acquisitions and a lower customer acquisition cost (CAC).

What on-chain data is most important for building a crypto lookalike audience?

Key data points include transaction history (frequency, value, tokens traded), dApp interactions (protocols used), NFT holdings (collections, minting vs. trading behavior), and DeFi activity (staking, liquidity providing, governance voting).

Can I use lookalike audiences to prevent sybil attacks during an airdrop?

Yes. By building a lookalike audience based on "genuine" users (e.g., those with a long transaction history or governance participation), you can filter out newly created wallets and bot-like activity, making your airdrop distribution more effective and resistant to sybil attacks.

How does Formo ensure user privacy while providing deep web3 audience analytics?

Formo is built with a privacy-first approach. We focus on analyzing behavioral patterns of pseudonymous wallet addresses, not on deanonymizing individuals. Our platform avoids invasive tracking methods like third-party cookies or device fingerprinting, aligning with the core privacy principles of Web3.

Do I need to be a data scientist to use Web3 audience intelligence tools?

No. Modern platforms like Formo are designed with user-friendly interfaces that allow product and marketing teams to create segments, analyze data, and build audiences without needing to write SQL or have a deep background in data science. Audience intelligence makes onchain data accessible for non-technical teams!

What are the first steps to creating a lookalike audience for my DeFi protocol?

First, identify your "seed audience" - a group of your best existing users (e.g., top liquidity providers or most active traders). Second, analyze their shared on-chain behaviors to define their profile. Finally, use an audience intelligence tool to find new wallets that match this profile.

How is audience intelligence different from standard Web3 analytics?

Standard Web3 analytics often focus on protocol-level metrics like Total Value Locked (TVL) or transaction volume. Crypto audience intelligence goes deeper by focusing on the user behind the wallet, analyzing behavioral patterns, segmenting audiences, and enabling targeted action to drive growth and retention.

Feature Adoption Analytics: The Complete Guide for Onchain Product and Marketing Teams

Yos Riady — Sun, 22 Mar 2026 14:07:54 +0000

In Web3, it’s not enough to attract users - you need users who engage with the features you’ve built. Feature adoption analytics tracks what features users interact with, how often they use them, and where they drop off. You can double down on what works, fix what doesn’t, and grow retention like a pro.

In this guide, we’ll cover:

What feature usage means (and what it isn’t)
Why tracking matters for product and growth teams
How to calculate and analyze usage effectively
Common pitfalls and how to avoid them
How Web3 teams can level up with wallet analytics

Key Takeaways

Feature adoption analytics measures how often and how deeply users interact with specific product features, showing what truly drives engagement and retention.
The three dimensions of feature usage - depth, breadth, and frequency - provide a richer view than simple click counts.
Tracking usage helps prioritize development, improve onboarding, and identify habit-forming features that boost retention and revenue.
In Web3, pairing feature adoption with wallet analytics reveals which features drive onchain actions like wallet connections, token claims, or governance participation.
Avoid common pitfalls such as chasing vanity metrics, ignoring repeat usage, or tracking without taking action.
Complement feature usage data with funnel conversion rates, retention cohorts, and Revenue Per Wallet (RPW) to measure real business impact.
The right setup - SDK installation, clear event definitions, and visual dashboards - lets teams track feature performance in real-time and at scale.

What is Feature Adoption?

Feature adoption measures how often users interact with a specific feature over a given period. It’s not just raw clicks. Effective tracking captures depth (how heavily a feature is used), breadth (how many users adopt it), and frequency (how often users return to it).

Example:
In a Web3 form builder like Formo, a “file upload” feature might be tracked to know:

What percentage of active users upload files
How often do they use this feature weekly or monthly
Whether usage trends are increasing or declining

Why Feature Adoption Matters

Tracking feature adoption isn’t just a “nice-to-have” - it’s the difference between building what you think users want and what they use. Here’s why top product and marketing teams obsess over it:

1. Prioritize Development with Data

No more building in the dark. Feature usage data shows you exactly where users are spending their time. If a feature is getting high engagement, double down with improvements or expansions. If something’s gathering dust, it might be time to sunset it and free up resources for features that matter.

2. Improve Onboarding & UX

A powerful feature with low adoption is a red flag. The problem might not be the feature itself - it could be that users don’t know it exists, can’t find it, or don’t understand how to use it. Tracking usage helps you spot these gaps so you can tweak onboarding flows, in-app prompts, or UI placement to make discovery effortless.

3. Boost Retention & Revenue

Retention is driven by habit-forming features - the ones users come back for, again and again. When you know which features keep people engaged, you can focus on optimizing them, turning occasional users into loyal (and paying) customers.

4. Measure Product-Market Fit Signals

Consistent, growing usage of your core features is one of the strongest signals that you’re hitting product-market fit. It means you’re solving a real problem for your users - and they’re coming back because they can’t live without your solution.

When to Track Feature Adoption

Feature adoption data is always useful - but there are moments when it’s mission-critical:

1. Launching a New Feature

You’ve shipped something fresh. Now it’s time to measure adoption in real numbers with product analytics, not just vibes. Tracking usage lets you see how quickly (or slowly) users discover it, what actions they take, and whether it’s delivering value.

2. Testing UX Changes

Small tweaks in layout, navigation, or labeling can make or break discoverability. By monitoring feature usage before and after a UX change, you can see if your update improved engagement - or accidentally buried a feature people loved.

3. Tracking Core Features Linked to Retention or Monetization

Some features are make-or-break for your business model. If they’re tied to subscription renewals, in-app purchases, or repeat wallet activity, you’ll want a constant pulse on how often they’re used and by whom.

4. Shaping Your Development Roadmap

When your dev sprint planning starts, feature usage tells you where to invest. Build on what’s working, optimize what’s underperforming, and drop what’s a distraction.

5. In Web3: Onchain Campaign Launches

In the decentralized world, adoption isn’t just clicks - it’s wallet actions. During onchain campaigns, tracking feature usage shows you exactly which features drive wallet connects, token claims, or other onchain activity that lead to conversions.

How to Calculate Feature Adoption Rate

The simplest formula is:

Example: If 500 of your 2,000 active users uploaded a file this month:

Feature Adoption Rate = (500 ÷ 2000) × 100 = 25%

You can also track:

Usage frequency - average number of times a feature is used per active user
Time-to-first-use - how long it takes for a new user to try it

How to Analyze Feature Adoption

Great feature usage analysis goes beyond counting clicks. It blends hard numbers with human context so you understand why users behave the way they do. Here’s how to break it down:

1. Segment Your Users

Don’t just look at overall adoption - slice the data by user type. In Web3, that might mean:

New vs. returning wallets to see how quickly new users discover key features.
High-value vs. low-value users to understand which features your top spenders or most active wallets rely on.

2. Compare Across Features

Rank your features by adoption rate and engagement time. This helps surface your “power features” - the ones that keep people engaged longest - and highlight features that need extra visibility or improvement.

3. Monitor Trends Over Time

Track usage patterns weekly or monthly. Spikes could signal a successful campaign or seasonal demand. Dips might point to UX friction or feature fatigue. Plateaus? That’s your cue to refresh or innovate.

4. Tie Usage to Outcomes

Engagement is nice, but impact is better. The best features aren’t just popular - they directly influence conversions, onchain transactions, or retention. Always link usage metrics back to the business or growth goals they serve.

Common Pitfalls to Avoid in Feature Usage Tracking

Tracking feature usage can unlock powerful insights - but only if you do it right. Here are the traps even seasoned teams fall into:

1. Chasing Vanity Metrics

Raw numbers can be deceiving. A feature might have thousands of clicks, but if those interactions don’t lead to meaningful outcomes - like transactions, conversions, or retention - the value is questionable. Always pair volume with context.

2. Ignoring Drop-Off

Adoption is just the starting line. If most users try a feature once and never return, that’s a warning sign. You need to track repeat usage and understand why people disengage - whether it’s poor UX, unclear value, or lack of need.

3. Lacking Benchmarks

Without a baseline, it’s hard to know if a feature’s performance is good or bad. Compare against your own historical data, competitor benchmarks, or industry averages to keep your analysis grounded.

4. Tracking Without Acting

Metrics without follow-through are just numbers in a dashboard. The real power comes when insights drive action - whether that’s improving UX, changing onboarding flows, or reallocating development resources.

Beyond Clicks: Proxy & Complementary Metrics

Counting clicks is a start - but it’s only part of the story. To truly understand a feature’s impact, you need supporting metrics that reveal its role in driving meaningful outcomes. Pair feature usage with:

1. Funnel Conversion Rates

See if users who interact with a feature are more likely to complete key actions - from signing up to making an onchain transaction.

2. Session Length & Depth

A feature that increases session time or encourages users to explore deeper into your product is likely to boost engagement and stickiness.

3. Retention Cohorts

Track whether users who use a specific feature are more likely to come back week after week or month after month.

4. Revenue per Wallet (RPW)

In Web3, monetization is often tied directly to wallet activity. Pairing RPW with feature usage helps you see which features drive your highest-value transactions.

When you combine feature usage with these complementary metrics, you get a 360° view of whether a feature is just “nice” or truly business-critical.

How to Track Adoption with Formo

Tracking feature adoption doesn’t have to be complicated - with the right setup, you can start collecting valuable insights in minutes. Here’s how to get started.

1. Create an Account

First, sign up for a web3 product analytics platform like Formo. This will be your dashboard for capturing and visualizing feature usage data.

2. Install the Tracking SDK

Add the SDK script between the <head> tags of your site. This one line of code enables event tracking across your product.
<script

src="https://cdn.formo.so/analytics@latest"

defer

onload="

window.formofy('', {

ready: function(formo) {

formo.identify();

}

});

Tip: In Web3, you’ll also want an analytics tool that can track onchain actions alongside Web2 events - that's exactly what Formo does. Otherwise, you will miss out on a significant part of the user's journey.

3. Verify Your Installation

Make sure your site is passing data correctly to Formo. This ensures your events are being recorded without loss or delay.

4. Define Custom Events

Use the SDK tracking functions in Formo to mark the actions you want to track. The Formo SDK offers an easy-to-use event collection library that allows you to track custom events in your dapp. Ensure high quality, structured data with Formo.

Custom events can capture a broad range of actions, such as clicking a button or completing a purchase.Additional information about the event can be included in the properties field. For example, for a Purchase Completed event, you may want to include the product ids of the purchased products.

When naming events, Formo recommends establishing a consistent naming convention that uses:

Consistent formatting: Event names are case sensitive.
A consistent syntax: Adopt nouns and past tense verbs like Swap Reviewed and Order Submitted. A standard of [Noun] + [Past-Tense Verb] ensures all your events are consistent.
A consistent actor: Does Message Sent mean that the user sent a message or that you sent a message to the user? If all your events are named in a way that reflects the user’s perspective, the meaning is clear immediately.

This allows everyone including you 6 months from now to instantly understand the meaning of an event.

Start tracking custom events with the Web SDK to get started. Custom events works with Wallet Intelligence and Funnels to give you a complete picture of each user’s journey.

5. Visualize Your Data

Create charts and custom dashboards to track adoption, engagement, and trends over time. This helps you quickly identify standout features and underperformers at a glance.

In Web3, every click, tap, or signature tells a story. Feature usage tracking is your compass for understanding what resonates, what needs improvement, and where to steer your product next. The clearer your view of how users (wallets) engage, the faster you can iterate, onboard, and grow - without wasting time on what doesn’t work.

Formo’s web3 analytics tool let you see which features are driving retention, revenue, and community impact - so your product roadmap isn’t guesswork, it’s a data-backed strategy.

Follow Formo on LinkedIn and Twitter, and join our community to learn how you can turbocharge growth onchain!

FAQs

1. What is feature adoption analytics?Feature adoption or product adoption analytics is the practice of tracking how frequently and deeply users engage with specific product features. It goes beyond simple click counts to measure three key dimensions:

Depth: How heavily a feature is used
Breadth: How many users adopt it
Frequency: How often users return to it

In Web3, feature usage analytics also captures wallet activity, such as smart contract interactions, token claims, and other onchain behaviors, providing a more complete picture of user engagement.

2. Why should Web3 and SaaS teams track feature adoption? Tracking feature adoption ensures that teams build features users actually engage with, not just features they think users want. Key benefits include:

Prioritizing development efforts based on real engagement
Identifying and fixing onboarding gaps
Highlighting high-retention and habit-forming features
Validating product-market fit

For Web3 teams, it also uncovers which features drive valuable onchain actions, such as wallet connections, token transactions, or governance participation.

3. How is the feature adoption rate calculated? The basic formula is: Number of unique users who used the feature / total active users

Example: If 500 out of 2,000 active users uploaded a file this month, the feature usage rate is 25%.

Additional metrics to track include:

Usage frequency: How often a user engages with a feature
Time-to-first-use: How long it takes for a new user to try a feature
Repeat usage rate: How many users return to the feature

4. What are common mistakes when tracking feature adoption? Even experienced teams can fall into traps, including:

Chasing vanity metrics: Counting clicks without context can be misleading
Ignoring repeat usage: One-time engagement doesn’t indicate long-term value
Lacking benchmarks: Without baselines, it’s hard to judge performance
Tracking without acting: Data is only useful if it informs UX, onboarding, or product decisions

In Web3, a frequent mistake is ignoring wallet-based segmentation, which can hide important adoption patterns among high-value or active wallets.

5. How can teams go beyond clicks to measure feature impact? Clicks alone don’t show the real value of a feature. To measure business impact, pair feature usage metrics with complementary indicators:

Funnel conversion rates: Does using the feature lead to key actions?
Retention cohorts: Are users coming back regularly after engaging with the feature?
Revenue Per Wallet (RPW): How does feature usage correlate with monetization?
Wallet score segmentation: Which high-value wallets rely on the feature most?

Using this multi-metric approach provides a 360° view of a feature’s true value, enabling product and marketing teams to make data-driven decisions.

Path Analytics in Web3: The Complete Guide to Understanding Onchain User Flows

Yos Riady — Sun, 22 Mar 2026 14:06:09 +0000

Web3 user behavior doesn’t follow the clean funnels we know from Web2. Instead, journeys are messy multi-step flows that span both offchain and onchain. Path Analytics helps you visualize and analyze the exact paths users take through your product or dApp - step by step, click by click, transaction by transaction. Instead of assuming what power users do differently, you can track it. This article will break down what Path Analytics is, why it matters for Web3, and how to use it to unlock growth.

Key Takeaways

Path Analytics maps out the real journeys wallets take in your dApp - across clicks, transactions, and onchain actions.
Path Analytics helps you spot drop-offs, loops, and hidden friction points that basic metrics can’t show.
By analyzing top-performing user paths, you can design better onboarding and retention strategies that guide more users toward becoming power users.
Formo makes Path Analytics simple by unifying frontend and onchain data into one clear view.

What is Path Analytics?

Path Analytics is the process of tracking and analyzing the sequences of actions users take inside your product. Instead of looking at isolated metrics, it shows you the exact journey users follow step by step. Think of it as a map of user behavior. Every action is recorded in order, so you can discover common paths, hidden drop-offs, and unexpected flows.

Example paths:

60% of users: connect wallet → explore → drop off
20% of users: connect wallet → explore → transactions
5% of users: connect wallet → explore → transactions → share on social media

By visualizing these journeys, teams can identify which flows drive the most engagement and where users abandon the process.

Why Path Analytics Matters in Web3

A wallet connection does not always mean commitment, and a single transaction does not guarantee long-term engagement. One user may connect their wallet but never sign a transaction. Another may mint an NFT but fail to return for staking. Others may loop through your dApp multiple times before finally committing to an action.

This complexity makes it difficult to understand behavior using vanity metrics alone. Path Analytics solves this problem by revealing the exact journeys wallets take across both your frontend and onchain environments.

Key benefits of Path Analytics in Web3 include:

Finding drop-off points: Path Analytics highlights where most users stop, such as connecting a wallet but failing to proceed to signing or abandoning the process after a swap.
Identifying topuser journeys: Teams can uncover which flows lead to meaningful actions like staking, governance participation, or repeat transactions, and use those insights to optimize product design.
Comparing new and power users: By mapping differences in behavior, you can see how casual users interact versus how loyal or high-value wallets engage.
Testing feature adoption: When new features such as staking, bridging, or governance are introduced, Path Analytics shows whether these steps naturally integrate into user journeys or create friction.

The real advantage of Path Analytics is that it shows the sequence of behaviors that drive either growth or abandonment, giving product and growth teams a more actionable view of user intent.

How Path Analytics Works

Path Analytics is built on the principle of sequencing user actions. Instead of analyzing events in isolation, it examines the order in which they occur to reveal patterns and behaviors.

The process typically involves four stages:

Defining eventsTeams first determine the critical actions to track. In Web3, these may include wallet connections, swaps, NFT mints, staking, transactions, or claims.
Tracking event sequencesOnce defined, these actions are tracked in the exact order they occur for each wallet or user session. This builds a complete record of how individual users navigate through the product.
Visualizing pathsThe recorded sequences are then displayed in visual formats such as trees, funnels, or Sankey diagrams. This makes it easier to identify common flows, abandoned processes, or alternative user journeys.
Analyzing drop-offs and loopsFinally, teams analyze where users exit, repeat, or stall in their journeys. For example, you may find a large percentage of users loop between connecting and disconnecting wallets before ever signing a transaction.

In the Web3 context, Path Analytics requires combining two data sources:

Frontend event tracking: Actions within the interface, such as button clicks, screen navigation, or form completions.
Onchain event data: onchain activities such as contract interactions, token swaps, NFT mints, staking transactions, and DAO votes.

When these are integrated, the result is a full picture of the user journey, showing both offchain interactions and onchain commitments. This unified view allows teams to connect product experience with blockchain activity, a critical capability for growth in Web3.

Example: Path Analytics in an NFT Minting dApp

Imagine you are running an NFT minting dApp. At first glance, your analytics might only tell you how many wallets connected or how many NFTs were minted. But with Path Analytics, you can see the entire journey that wallets take.

For example:

40% of users: Connect wallet → Browse NFTs → Drop off
30% of users: Connect wallet → Mint NFT → Stake NFT
5% of users: Connect wallet → Mint NFT → Stake NFT → Vote in DAO → Buy more NFTs

The last group represents your power users. Even though they make up a small percentage, they are the wallets most engaged with your ecosystem. By identifying this path, you can design your product to encourage more users toward it. For instance:

Add clearer calls-to-action that guide users from minting to staking.
Highlight the benefits of staking or governance to motivate action.

Key Path Analytics Metrics to Track

When running Path Analytics, some of the most valuable metrics include:

Top paths: The most common sequences of actions taken by users.
Average steps per session: A measure of how deeply users explore versus how quickly they exit.
Loops and repeats: Patterns where users circle back to the same action multiple times before progressing.
Drop-off rate per step: Identifies where the highest percentage of users leave the flow.
Conversion paths: Shows which paths lead to your core success metric, such as a completed mint, a staking action, or a DAO vote.

By combining these metrics, you gain both a macro and micro view of user journeys - what’s popular, what’s failing, and what drives true value.

Path Analytics vs. Funnel Analytics

Path Analytics is important to distinguish between these two related approaches:

Funnel Analytics: Best for structured, linear flows. For example: Wallet Connect → Sign → Mint → Stake. This method works well when you want to test a predefined journey or measure performance against a known conversion flow.
Path Analytics: Best for open-ended discovery. Instead of assuming a linear process, you let users show you their paths. This often reveals unexpected behaviors or hidden friction points.

In Web3, the most effective teams use both approaches together. Funnels are used to test hypotheses and measure improvements in well-defined flows, while paths are used to uncover organic behaviors that teams might never have anticipated.

Best Practices for Path Analytics in Web3

To get the most value from Path Analytics, teams should go beyond vanity tracking and focus on building a complete picture of wallet behavior. Here are some proven best practices:

1. Unify onchain and offchain eventsDo not just track button clicks or page views. In Web3, real intent is often shown onchain. That means you need to capture both sides: interface actions (wallet connect, browse, sign attempt) and smart contract interactions (mints, swaps, staking transactions, etc).

2. Segment by wallet cohortsBy segmenting into cohorts such as whales, new wallets, and active contributors, you can uncover meaningful differences in behavior and tailor your product strategies accordingly.

3. Look beyond the first sessionUser journeys in Web3 often stretch over days or even weeks. A wallet may connect today, mint tomorrow, and stake next week. Path Analytics should account for these longer timelines instead of focusing only on single-session flows.

4. Highlight power-user pathsYour most valuable wallets are the ones that stake, vote, and return regularly. By identifying the paths they take, you can design onboarding and engagement strategies that guide more casual users toward these behaviors.

5. Experiment with nudgesInsights from Path Analytics should translate into action. Use reminders, in-app notifications, or contextual calls-to-action to encourage users to take the next step in their journey and reduce drop-offs.

How Formo Makes Path Analytics Easy

Most analytics tools were designed to track clicks and screens well, but they were never built for wallets, contracts, or cross-chain activity. Formo is a Web3-native analyticsplatform designed to unlock Path Analytics for dApps.

With Formo, you can:

Track both frontend events and smart contract interactions in one place.
Visualize complete user journeys across dApps and chains.
Segment wallets by profile, balances, and onchain activity.
Discover drop-offs, loops, and top-performing flows in a single dashboard.

Formo gives you the clarity to finally see:

How wallets move through your product.
Where they stop or churn.
What your best users do differently - and how to nudge others to follow the same path.

Path analytics turns complex user journeys into clear maps, giving your team the visibility to refine onboarding, optimize retention, and scale impact. With the right web3 analytics in place, you can transform blind spots into growth levers - spotting friction before it costs you users and doubling down on what drives conversions.

At Formo, we make it simple to bring this clarity into your product. Whether it’s tracking wallet connections, dApp interactions, or full user flows, you get the insights you need to grow with confidence.

Follow Formo on LinkedIn and Twitter, and join our community to learn how you can turbocharge growth onchain!

FAQs

1. What is Path Analytics in Web3? Path Analytics in Web3 is the process of mapping and analyzing the exact sequence of actions a user (wallet) takes inside your dApp. This could include connecting a wallet, signing transactions, minting NFTs, staking tokens, or participating in governance votes. Unlike single-event tracking, Path Analytics gives you a step-by-step view of the entire journey, helping you identify smooth user flows as well as friction points that cause drop-offs.

2. How is Path Analytics different from Funnel Analytics?

Funnel Analytics assumes a fixed, linear journey (e.g., connect wallet → mint → stake). It’s best for measuring how well-structured processes convert.
Path Analytics is more open-ended. It uncovers the real journeys users take - including loops, skipped steps, drop-offs, and unexpected paths.

In Web3, both matter: funnels are great for validation (testing if a flow works), while paths are crucial for discovery (revealing how users behave).

3. Why does Path Analytics matter for Web3 teams? Web3 user behavior is unpredictable:

A wallet connection doesn’t guarantee commitment.
A single transaction doesn’t ensure long-term engagement.

Path Analytics helps teams:

Spot drop-off points where users churn.
Identify high-value journeys that lead to staking, governance, or repeat activity.
Compare wallet cohorts (new wallets vs. whales vs. contributors).
Measure adoption of new features like bridging, staking, or DAO voting.

This visibility allows growth, product, and community teams to refine onboarding, improve retention, and drive adoption more effectively.

4. What metrics should I track with Path Analytics? Key metrics include:

Top paths → Most common user journeys.
Drop-off rate per step → Where users abandon flows
Loops & repeats → Signs of confusion or stuck users.
Average steps per session → Depth of engagement.
Conversion paths → Sequences that drive your success metric (mint, stake, governance, etc.).

Tracking these metrics helps you understand both friction points and winning behaviors.

5. How does Formo make Path Analytics easier for Web3 teams? Most analytics tools were designed for Web2 clicks, not Web3 wallets. Formo is purpose-built for Web3 and provides:

Unified tracking of frontend actions and onchain transactions.
Clear visualizations of wallet journeys across multiple chains.
Segmentation based on wallet profiles, balances, and behaviors.
Insights into where users drop off and what power users do differently.

With Formo, growth teams get the full picture they need to refine onboarding, boost retention, and scale sustainably - without wrestling with complex data.