Since the public launch of TokenGen back on May 31st 2018, the tool has been steadily growing in popularity. So, it is about time we reflected back on how TokenGen has performed so far. In this article we will share with our community, various stats regarding the performance of the leading smart contract creator for the token economy.
TokenGen Performance Report
This report will include stats about the number of projects created using our tool, their states, the number of deployments made, and a few other metrics that we thought would be great to share with our community. Without further ado, let’s begin.
TokenGen Total Projects Created (June – November, 2018)
As mentioned, we launched TokenGen 2.0, the first public non-demo version of the tool, on May 31st this year. So naturally, we will be providing stats about TokenGen starting June 2018. And here’s the first chart:
This chart shows the total number of projects in all statuses (more on that in a second), that have been created using the best smart contract generator on the market. For clarification, the total number is 937 projects in the span of 6 months – June to November, 2018. Another thing we need to clarify here is that, this graph shows projects in all states (statuses). TokenGen projects can have several states, but the ones that concern us here are the following:
- New – a brand new project is created when a user logs into TokenGen using MetaMask and then goes to the Create Project page.
- Configured – a project is in state Configured when the user goes through all the steps of the project creation process, but does not make payment on the final step i.e. they were probably just testing the tool or maybe they were discouraged that they couldn’t pay in ETH or fiat currency (as a several of our visitors have reported).
- Done – the project has been created and paid for and has underwent the full TokenGen building and testing process.
We will show a chart of the distribution between these states from the total number of 937 projects in a minute. Back on the current topic, based on the data from above, about 157 projects are created per month using TokenGen over the past six months.
TokenGen Total Projects in State “Done” (June – November, 2018)
This next chart will show how the projects in state Done have progressed since June this year:
The total number of projects in state Done is currently 66. That means that, 11 projects per month are being created on average using TokenGen, as per the data since June this year. To further break it down, that is about a project created every 3 days.
TokenGen Total Projects Broken Down by State
We have already cleared up the types of project states that are concerning this article. Here’s a bar chart showing the distribution between the states from the total number of projects:
So again, the Configured state means that the user went through the entire project creation process, but then decided not to finish it on the final payment step – for whatever reason – and the New state simply means that, the user logged into TokenGen using MetaMask and then opened the Create Project page.
Based on the stats from the bar chart above, we can determine the following:
- The Create Project page fully converts at about 7%, which is not bad at all, considering we are asking exclusively for payment using Fabric Tokens.
- The final Payment step of the create project process converts at exactly 20%, which is not bad as well, but could be better for sure and we are actually doing some in-depth analysis to determine how to improve that CR.
- About 30.3% of the people who go to the Create Project page, actually go through the entire project creation process aside from the payment.
TokenGen Payment Stats (June – November, 2018)
- TokenGen has generated a total of 91,700 FT worth of volume.
- The average project price is about 1,389 FT. That is the basic fee (500 FT) plus a few other features.
TokenGen Total Deployments (August – November, 2018)
With the huge TokenGen 3.0 update back on August 2nd this year, came the deployment feature, which allows users to easily deploy their smart contracts to any Ethereum network. Since then we have seen a steady increase of deployments, mostly on Ropsten and the main Ethereum network:
A total of 46 deployments have been made using TokenGen, since the launch of the Smart Contract Deployment & Management feature on August 2nd, 2018. As you can see by the chart above, the feature really became more popular once we integrated it into the default TokenGen UI i.e. it was no longer a purchasable feature, but rather, a default feature built right into TokenGen and accessible to all users.
TokenGen Deployments Breakdown
As mentioned, TokenGen allows deployment to any Ethereum network. You can test your token crowdsale on Ropsten for example, and then deploy to mainnet once you are fully certain that everything is as you set it up to be. That being said, here is a network breakdown of the 46 deployments made using TokenGen:
We have yet to see deployments on Rinkeby. Ropsten still seems to be the most popular Ethereum network for testing purposes.
Since TokenGen 3.4 (October 14th, 2018), we are allowing users to provide project metadata – name, description, url, and logo image. Additionally, we allow users to pick whether or not they want their project to be public or private. Naturally, private projects will not appear anywhere, but public projects will appear in the upcoming TokenGen Public Projects Directory. Here’s a sneak preview of it:
This screenshot of course is just an example with test projects. We still need a few more projects on TokenGen to be made public and then we will update the tool to include the above page. This is one of the planned new features in the upcoming TokenGen 4.0 update (more on that in the next article).
So to sum up, a total of 937 projects have been created using TokenGen since June 2018 – 607 in state New, 264 in state Configured, and 66 in state Done. Full projects average at about 11 per month, and the project creation process seems to be fully converting at 7%. There have been a total of 46 deployments since August this year – 21 on Ropsten, 21 on mainnet, and 4 on Kovan. And finally, TokenGen has generated a total of 91,700 FT worth of volume, meaning that, on average, users pay 1,389 FT for a project. I wonder how many blockchain startups out there can say that they have actually made real use of their token after their TGE ended.
Considering the decaying condition of the market ever since the start of 2018, we are extremely happy with how TokenGen has performed so far. Can things be improved? Of course. Things are being improved constantly as anyone following our project even for just a week can see. But, for a 6 month performance report on a tool that has basically instigated a market, we think that things are going even better than expected. Hopefully, the market tide will, at some point, turn and we will see again, an explosion of blockchain adoption.