The ByteLight Token: Spotlight Any Crypto Data Question

Get any of your questions in front of top data builders (details on how to earn or purchase the token are in this article).

^🚨 this quest has been paused for now

Read on to learn more about the token usage and mechanics.

ByteLight is an ERC1155 token where any holder can ask a crypto question in the Farcaster /data channel, and then the post will be spotlighted into the Bytexplorer community (100+ data analysts, engineers, and scientists).

Collectively we have knowledge on everything from user behaviors, dozens of chain ecosystems, protocol patterns, domain trends, and complex data structures. The breadth and depth of topics we can help discuss or answer is massive.

This is meant to bring the crypto community together with fun new incentives that don’t add much friction.

Thanks to Vishesh for ideating on the token mechanics with me.

What kind of questions can I ask?

Data community question/answering already happens every day on Twitter, but there are still tons of good questions that get missed. I answer questions like this one from Binji almost daily:

tweet

This kind of question is too simple for a paid bounty process, but still very valuable for making key decisions. The ByteLight token is for spotlighting such questions from those who are either non-technical or don’t have time to dig into the data.

Some other example questions you might ask:

• Trend Diving: I don’t understand how Solana DEX volumes have increased this significantly, can someone help me figure out what tokens are driving this?

• Ecosystem Context: I’m trying to understand the trend of why Arbitrum TVL has been increasing the last few weeks, does anyone have an idea?

• Tweaking Charts: This chart shows active users of Uniswap, can someone help me show retention instead?

• Protocol Releases: We’re releasing our new protocol contracts soon (or a new EIP/standard), and would love to have some data nerds let us know what events we should add or edit

• Data Tooling Questions: We’re considering using this data product to build ABC and would love to get some honest thoughts on the pros and cons of XYZ features

🚨 This is NOT for requesting for full dashboards or data models - that kind of work should go through Bountycaster. That said, asking smaller data questions in public will help you find the right data person to hire.

How ByteLight tokens work, and how to get them

The lifecycle of a question:

1. Send a cast with your question into the /data channel on Farcaster. It must be a completely new cast, not a reply to another cast. It must also contain at least one question mark “?”.

2. The cast will get pushed to the private Bytexplorer telegram group, and ranked in a feed on this Dune dashboard.

3. The question gets answered through replies to the original cast. It stays open for 14 days.

4. If an answer is satisfactory, reply with “@bytecast answered”

5. You keep your ByteLight token(s) until you decide to sell them. You can ask as many questions as you want while you hold them - within reason, if you ask ten times a day then you won’t get a response to all of them.

There is no promise that you’ll get the question answered perfectly, but if it is a reasonable ask I am sure the Bytexplorer community will try and help you out.

Buy ByteLight tokens on Sudoswap

👉💵 Buy or Sell from this SudoSwap pool, with a starting price of 0.03 ETH that goes up 0.001 ETH with each purchase.

It’s non-transferrable, and I will increase the supply of tokens over time, based on demand. I will also set the price lower or higher manually over time. It can be sold back at roughly half the current purchase price.

Legal Disclaimer: The ByteLight token is a utility token for use within the Bytexplorer ecosystem and does not represent a financial instrument, security, or commodity. It is not intended for speculation or investment. Ownership of ByteLight tokens does not guarantee any rights to services, profits, or dividends. The value and utility of ByteLight tokens may fluctuate and are not assured by Crypto Data Bytes. The token is designed to facilitate engagement and is not a promise or obligation to deliver any product, service, or performance. We encourage all users to approach ByteLight token ownership with caution and to seek independent advice. Crypto Data Bytes disclaims any responsibility for the token's value or the fulfillment of any services or benefits.

Rewards and Participation for Bytexplorers:

🔍 Learn about the Bytexplorers and join us

This is our second reputation token! It will be the counter in the top left of your Bytepass, with the red/white face icon. This is meant to signal to people how generally “helpful” you have been both inside and outside the data community. I personally think this is a great way to better understand what’s on other peoples minds, and to also build relationships that turn into bounty work or jobs.

Explorers who answer questions from ByteLight holders will earn ByteInsight tokens, for helping casters get insights. If you respond with a valid answer to a cast, you will earn 1 ByteInsight token for each ByteLight token held by the caster.

You can use this query to see open questions and top three answers:

link to query

Point System: For an answer to count as valid, it must either get marked as “@bytecast answered” in a reply by question author or get a like from someone of trailblazer tier or higher. If a like comes from a bytexplorer, it’s weighted based on the tier. If the question author liked the answer cast, that like is worth 10.

Keep in mind that:

• You must own a Bytepass to get rewards.

• The top three answers after 14 days will be rewarded. Answers will be ranked based on likes from the Bytexplorer community, and likes will be weighted based on guild token balance.

• If a question is completely unanswerable, I will reply “unanswerable” and it will not be eligible for rewards.

• If you wrote queries for your answer, you can submit those to the weekly quest to earn guild tokens on them.

The plan is 75% of revenue from ByteLight mint sales and trading fees will be split amongst the community, based on explorer tokens earned. 25% will be taken by me for now to cover time/cost of admin and operations - this percentage will decrease over time as the community grows in size. It will likely be distributed through quarterly Splits or Sablier airstreams.

The method and weight of reward distribution is still to be finalized, More details will come over the next couple of months.

Legal Disclaimer: The information provided regarding the distribution of revenue from ByteLight sales and trading fees represents our current intentions and is shared to outline our preliminary vision. Please be aware that these plans are not final and are subject to change as we continue to refine our strategy and respond to regulatory, technical, and community feedback. No statement in this communication is intended to be, nor should it be construed as, a promise or commitment. The actual implementation of revenue distribution may differ, and we reserve the right to modify any of the mentioned mechanisms. We recommend our community members stay informed through our official channels for the latest updates and developments. Depending on jurisdiction, KYC (Know Your Customer) procedures may be required, and the specifics of revenue distribution may be adjusted to comply with legal and regulatory standards.

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Technical Notes:

• The ByteLight token will be an erc1155 token, distributed through airdrops or bought/sold through a single sudoswap pool. Transferability otherwise will be turned off. A 15% fee will apply to all trades.

• The ByteInsight token will be an erc1155 token that is nontransferable. The count of an explorer’s balance will show up under the top left of the Bytexplorer pass.