Asset Description Feedback

What's an asset according to The Grid?

"A digital token or coin that exists on a blockchain. This includes cryptocurrencies, stablecoins, NFTs, governance tokens, utility tokens, and other blockchain-based digital assets. Each asset has a name, ticker symbol, type classification (like Currency, Stablecoin, or NFT), and can be deployed across multiple blockchains through smart contracts." What's an asset description?

"A concise summary of the asset's key characteristics, use case, or value proposition. Limited to 200 characters avoiding subjective claims."

Note: The below descriptions are examples that are not official descriptions from The Grid.

In your opinion, what makes a good asset description? You may choose more than one option

A

Clear Purpose - What problem does it solve or what value does it provide?

B

Technical Accuracy - Correct terminology and mechanism explanation.

C

Transparency - Honest about risks, limitations, or stage of development.

D

Simplicity - Understandable to the target audience without excessive jargon.

E

Other

Based on the definitions above, rank these Solana descriptions from best to worst.

1

Option 2 - SOL is the native utility token of the Solana ecosystem, primarily used to pay transaction fees and rent for storing account data on-chain. Holders can delegate their SOL to validators to secure the network through Proof-of-Stake and earn staking rewards. It also serves as a base currency for the ecosystem's decentralized applications and NFT marketplaces.

1

Option 3 - Solana (SOL) is a layer-1 blockchain platform utilizing a unique Proof-of-History (PoH) timestamp mechanism combined with Proof-of-Stake consensus. The network achieves theoretical throughput of 65,000 TPS with sub-second finality and average fees under $0.01. SOL is the native token (SPL standard) with a current circulating supply of ~450M and no maximum cap, used for transaction fees, staking (minimum 0.01 SOL), and governance.

1

Option 1 - Solana is a super fast blockchain that's way better than Ethereum! It can handle thousands of transactions and fees are almost zero. SOL token will definitely increase in value. Perfect for investors looking for the next big thing in crypto. Don't miss out on this opportunity!

Based on the definitions above, which description is better in your opinion? Please select only one option.

A

ETH is the native utility token of the Ethereum ecosystem, used for paying transaction fees, network security, and governance participation.

B

ETH serves as the execution fuel for the Ethereum Virtual Machine (EVM), denominating the "gas" costs required for network state transitions and smart contract computation. It secures the protocol via the Proof-of-Stake mechanism, where validators bond ETH to attest to block validity and achieve finality. It also functions as the primary trustless collateral asset within the decentralized finance technology stack.

C

Ether (ETH) is the native cryptocurrency of the Ethereum blockchain and the second-largest digital asset by market capitalization, serving as the primary medium of exchange and store of value within the world's most active smart contract ecosystem. As a proof-of-stake asset since Ethereum's 2022 Merge upgrade, ETH functions as both a utility token for paying transaction fees (gas) and a yield-generating asset through staking, where holders can earn rewards for securing the network. With deep liquidity across centralized and decentralized exchanges, ETH powers trillions in annual transaction volume and serves as collateral for DeFi lending protocols, liquidity pools, and as the predominant base asset for Web3 economic activity.

Why? (Optional)

A

More accurate

B

Clearer purpose

C

Better simplicity

D

More transparent

E

Other

Based on the definitions above, which description is better in your opinion? Please select only one option.

A

USDt is a USD-pegged stablecoin used for dollar-denominated transfers and trading across multiple blockchains.

B

USDt is the market’s most dominant stablecoin, offering deep liquidity and seamless integration across virtually every major exchange and blockchain ecosystem. Designed to combine the stability of the U.S. dollar with the speed of digital assets, it serves as the essential gateway for global traders and institutions entering the crypto economy. USDt empowers users with instant, low-friction cross-border settlements, effectively bypassing the inefficiencies of legacy banking systems.

C

Tether (USDT) is the world's most traded cryptocurrency and dominant stablecoin, commanding 70% market share among dollar-pegged digital assets with over 350 million users worldwide. Launched in 2014 by Tether Limited, USDT maintains its 1:1 peg to the US Dollar through substantial reserves exceeding $118 billion, generating over $5 billion in profits during the first half of 2024. Available across 14+ blockchain protocols including Ethereum, Tron, and Solana, Tether powers the liquidity infrastructure of cryptocurrency markets, DeFi protocols, and global payment systems, processing more daily volume than any other digital asset.

Why? (Optional)

A

More accurate

B

Clearer purpose

C

Better simplicity

D

More transparent

E

Other

Based on the definitions above, which description is better in your opinion? Please select only one option.

A

BTC is a decentralized cryptocurrency that uses a peer-to-peer network to verify transactions and record them in a public distributed ledger called a blockchain.

B

BTC is the first decentralized cryptocurrency, operating on a Proof-of-Work consensus mechanism to ensure immutable and censorship-resistant transactions. It functions as a global store of value and medium of exchange with a hard-capped supply of 21 million coins. The network allows peer-to-peer transfer of value without the need for trusted intermediaries.

C

BTC operates as a strictly decentralized, permissionless protocol with no central authority, issuer, or managing organization. Its monetary policy is algorithmically enforced by a distributed network of independent nodes, ensuring a mathematically hard-capped supply of 21 million units. The system relies on a trust-minimized architecture where consensus is achieved solely through Proof-of-Work, making the ledger resistant to censorship or corporate control.

Why? (Optional)

A

More accurate

B

Clearer purpose

C

Better simplicity

D

More transparent

E

Other

Which approach do you prefer for including performance metrics in asset descriptions? Please select only one option.

A

Specific numbers: "Has a market cap of XXXX billion euros"

B

Rounded approximations: "Has an average market cap ~XXXX billion euros"

C

General statements: "Has a high market cap"

D

No performance metrics needed

How much technical detail should an asset description include?

How much marketing detail should an asset description include?

How much detail of the organization behind the asset should an asset description include?

Which best describes your Web3 experience? Please select only one option.

A

Curious - I've heard about crypto but haven't used it yet

B

Explorer - I own crypto on an exchange (Coinbase, Binance, etc.)

C

User - I use a self-custody wallet and DeFi/NFT platforms

D

Power User - I actively participate in multiple protocols, DAOs, or ecosystems

E

Builder - I develop, contribute to, or work professionally in Web3

F

Other

Asset Description Feedback

In your opinion, what makes a good asset description? You may choose more than one option

Based on the definitions above, rank these Solana descriptions from best to worst.

Based on the definitions above, which description is better in your opinion? Please select only one option.

Why? (Optional)

Based on the definitions above, which description is better in your opinion? Please select only one option.

Why? (Optional)

Based on the definitions above, which description is better in your opinion? Please select only one option.

Why? (Optional)

Which approach do you prefer for including performance metrics in asset descriptions? Please select only one option.

How much technical detail should an asset description include?

How much marketing detail should an asset description include?

How much detail of the organization behind the asset should an asset description include?

Which best describes your Web3 experience? Please select only one option.

Anything else you would like to add? (Optional)