ON–279: Zoomed-in on DSCVR 🔬

Welcome to our next installment of Zoomed-in, an onchain deep dive series from OurNetwork.

This week we're zooming in on DSCVR – one of the largest onchain social platforms by unique monthly and daily active users, built on Solana. DSCVR is a social home for web3 communities, bringing crypto-native features to a familiar, web2-styled experience. On DSCVR, users can build communities, share posts to feeds, gain a following, leverage comments, reactions, reposts, and notifications.

This is all paired with underlying crypto functionality – a built-in wallet, airdrops, Lootboxes of NFTs and tokens, embedded dApps in posts, token tipping, token-gating, community token marketplaces, and verified NFT profile pictures.

DSCVR is opening up social media ownership, monetization and distribution to everyone, and users are taking notice.

Let’s zoom in to the data on this emerging onchain social network.

Quick Links: Website | Twitter

• By focusing on product first and offering unique crypto-native features to Solana users, creators and developers, DSCVR has grown into a leader in the onchain social space in user metrics. Case in point, in the last 90 days DSCVR has averaged 63k daily active users (DAUs), 108k weekly active users (WAUs), and 168k monthly active users (MAUs).

• DSCVR engagement actions are consistently growing as more users leverage the platform to post, comment, react to content, join communities, and play daily games for crypto prizes. The cumulative amount of actions taken has doubled from below 25M to 52.6M in the last year.

Creating a profile on DSCVR is the first step to entering the ecosystem. Users choose a username, PFP, and can then begin to follow people and communities that resonate most. This will help shape the content served in the For You feed. So far, users have created over 710,000 DSCVR profiles.

• Monthly unique visitors reached 1M in August indicating a sizable web3 audience consuming content — visitors are also an opportunity for ad impressions if DSCVR incorporates those in the future.

• Having developed and refined the product on ICP, DSCVR was attracted to the community and consumer growth on Solana where the team launched to scale its product in November of 2023. According to the data, the move worked — daily active users have jumped 1,000% since the launch and now consistently clear 60k. The continued growth of the Solana ecosystem, alongside the growth of SOL-based communities and token transactions on DSCVR have proven to be a complimentary force driving DSCVR's user growth.

Lootboxes are DSCVR’s flagship rewards product which active users earn by engaging with the platform and creating popular content. They contain NFTs —some purely positioned as art, some with utility baked in— and some of the most popular SPL tokens in the Solana ecosystem. For example, in December 2023, thousands of dollars of the $WIF memecoin was distributed to the DSCVR Community (DSCVR's eponymous community on the platform) when the price at the time was under $0.10. The price is now $2.34, meaning users who received the Lootbox are up by over 20x. In total, users have claimed over 600k Lootboxes — those that held the Lootboxes distributed to the DSCVR Community have realized significant gains.

• The onchain social landscape is collectively growing, and DSCVR is more than holding its own versus the other notable players in the space — Lens and Farcaster. Indeed, taking Sept. 24 as an example, DSCVR actually led both Lens and Farcaster in terms of daily active users with 63.5k. That's not an atypical day however — DSCVR has led Lens and Farcaster in terms of daily active users almost every day in 2024.

• Canvas is a framework for building web applications, referred to as Canvases, that are embedded and distributed on DSCVR's platform. Developers can build Canvases using familiar Web UI and server frameworks like Vue, React, Next.js. They can also deploy on the infrastructure of their choosing including Vercel, Heroku, Cloudflare and more. Any webapp can be converted into a Canvas in a few steps and get viral distribution to 700,000+ users for an app. DSCVR launched Canvas in August 2024 and last month DSCVR Canvas generated ~10x as many onchain transactions as Farcaster Frames, a similar product in the Farcaster ecosystem. Canvas is quickly catching up with Farcaster's Frames in total transactions despite Frames having a six month head start.

• To close, DSCVR has quietly become a major player in the onchain social space, rivaling and outperforming Farcaster and Lens in user metrics. DSCVR’s launch of Canvas and Lootboxes suggests that the platform can also deliver innovative features which drive leading token transactions in their category. We look forward to seeing DSCVR’s next moves in the onchain social space.
• Get in contact with the team: hello@dscvr.one

• Get started at dscvr.one
• Follow @DSCVR1 on X
• Devs: Get started building your Canvas