Team Persona is pleased to announce that its Crypto Wallet Bot Detector is placed among the top 12 final winners at the ETHIndia 2022 hackathon! ETHIndia 2022 is Asia’s biggest Ethereum hackathon, attracting over 2000 participants from 321 cities and setting a record for enthusiastic participation from the Ethereum community. There were 459 projects developed and launched into the Ethereum ecosystem over the course of just one weekend. “We are super proud to announce that Persona’s Crypto Wallet Bot detector wins at Asia's largest hackathon organized by ETH India 2022.” said Ankita Verma, Co-founder and CEO of Persona. “ETH India brought the Persona team together, in person for the first time since inception. The sleepless hours of hacking, eating, drinking, and ideating together has paid off and we are excited to make the Persona bot detector available to every dApp builder out there!”
We at Persona seek to assist dApps in growing their user bases and increasing consumer engagement with our all-in-one web analytics and growth engine. Our goal is to help businesses sustainably engage their users, thereby supporting this wave of technological advancement for the ETH community. One way to accomplish this is by airdropping NFTs and tokens to the most dedicated users in the community to increase awareness. These further act as incentives to foster community involvement.
However, the crypto industry has had a difficult few months. Users’ trust has significantly diminished when it comes to dApps and other similar applications. One of the reasons is that most cryptocurrency airdrop marketing endeavors employed by dApps have recently been seized by bots and other “airdrop hunters,” which takes away the main driving force behind such initiatives. It is extremely challenging to tell these bots from actual human users as dApp data is not easily accessible. This ultimately results in artificially inflated user numbers. Additionally, despite the high engagement of such new user acquisition campaigns, the number of daily active users for dApps does not considerably rise. This frequently results in significant financial losses as well.
To address this critical issue, we developed a bot detection model that could be used to filter out bots from a campaign’s target user base. Our project aims at safeguarding the primary goal of numerous user acquisition marketing efforts made by dApps. Our bot detection model achieves this by identifying such airdrop hunters to steer clear of them and enhance user click-through and conversion rates for dApps. In addition, another significant issue that dApps have faced in recent times is the absence of actual users. This calls for conducting bot analysis on the existing user base of a dApp to distinguish between real users and bots and better understand their performance.
For one of our data engineers, Parth Srivastava, it was his first time at the ETHIndia hackathon. He was ecstatic to see the crowd’s energizing vibe and almost contagious enthusiasm. “The many sleepless nights ultimately paid off when we received the news that we won the hackathon,” he continued.
Shubhi, another data engineer on our team, was perplexed by the event’s glory and the management team’s efficiency. She went on to say, “I had never felt the amount of enthusiasm I had after winning such a prestigious hackathon. The ultimate cherry on top was the news that Polygon team head, David Wyatt, was really interested in our work and appreciated our efforts!”
Our Co-founder and CTO, Sanjana, strongly believed in the motivation behind the model as she elaborated, “While most builders were focused on building protocols and dApps, we wanted to take a different approach by developing something that adds value to all their projects.” It is noteworthy to acknowledge that altering a bot’s behavior to counter such measures is not all that difficult with recent developments. But concurrently, it is up to us to develop new features that can aid in our understanding of bots and their behavior. Persona’s bot detection technology is designed to achieve precisely that, as we are certain that eliminating bots is the best course of action for creating more sustainable dApps.
The cryptocurrency ecosystem is often perceived negatively, primarily due to its erratic and unpredictable nature. By manipulating cryptocurrency pricing and boosting the number of dApp users artificially, bots further increase this unpredictability. Builders at ETHIndia, however, did not let anything stand in their way. The amount of passion among the teams to finish their products was unrivaled, and they were all extremely motivated to bring their product to completion. Events like ETHIndia are a prime example that show that crypto is still alive, and it is at moments like these that act as an inception of new ideas.
Persona is a web3 company that assists dApps in attracting, expanding, and retaining their web3 user base using various data analytics and machine learning techniques. We provide users with personally curated on-chain and off-chain experiences based on their previous wallet transactions.