Welcome back to another weekly Roundup for Open Chat!
Over the past week, OpenChat has experienced significant growth. In this Roundup, I will focus on the most important data, charts, metrics, and indicators. Additionally, I will highlight the key updates related to CHAT.
Over the past few weeks, the OpenChat team has implemented numerous optimizations, significantly enhancing the platform’s efficiency. For instance, upgrading the largest community now consumes only 50 billion instructions, a dramatic reduction from the previous 262 billion. This improvement underscores OpenChat’s commitment to maximizing resource efficiency while maintaining top-notch performance.
Here are the most relevant updates from the past week for OpenChat:
Features
- Significant progress made towards supporting bots, with a demo coming soon! Bots on OpenChat open the door to multiple use cases, which could drive a substantial increase in platform usage and engagement.
- Introduced “CHIT streak insurance,” allowing users to pay CHAT to safeguard their daily streaks (feature not yet released).
Scalability & Performance
- Migrated additional datasets to stable memory for improved efficiency.
- Enhanced website performance and reduced load times.
- Recent upgrades now require approximately 75% fewer instructions, thanks to continuous optimizations.
Miscellaneous
- Resolved message order inconsistencies for messages sent in quick succession.
OpenChat continues to evolve, focusing on scalability, user experience, and feature expansion.
Key Data, Charts, Metrics, and Indicators for OpenChat:
According to Token Terminal, monthly fees on ICP have surged by an impressive 40x since January 2024.
Simultaneously, daily active users on OpenChat have increased by 6x, showcasing the platform’s growing adoption and the rising usage within the ecosystem.
Last week, OpenChat demonstrated impressive progress across several key metrics and optimizations:
- OpenChat User registration count: 202.9K
- OpenChat User registration count (referred): 91.1K
Source: tokenterminal
Last week, 1.1K new users registered on the platform, with 621 users verifying their identity through Decide ID.
Source: tokenterminal
In addition, the number of daily and monthly active users remains strong, with a clear upward trend:
- Daily Active Users: 14.6K
- Monthly Active Users: 26.7K
Source: tokenterminal
Another noteworthy metric of user activity is the daily message reaction count, which has shown consistent growth since July 2023. As illustrated in the image below, the trend is unmistakably upward, reflecting increasing user engagement on the platform.
Source: tokenterminal
Furthermore, the consistent increase in the daily claimed CHIT count highlights the effectiveness and positive impact of the CHIT-to-CHAT initiative, further incentivizing user activity and engagement. Currently, around 13.8K users claim CHIT on a daily basis.
OpenChat’s growth metrics demonstrate its strong momentum and continued success within the ICP ecosystem.
Source: tokenterminal
The average daily user online time on OpenChat remained high last week, totaling approximately 2,100 hours per day. This sustained engagement highlights the platform’s strong user retention and active participation.
Source: tokenterminal
Additionally, developer activity continues to thrive, with developers actively working on the implementation of new features to enhance the platform’s functionality and user experience. OpenChat’s commitment to innovation and growth is evident in these metrics, reflecting its strong momentum within the ICP ecosystem.
Source: tokenterminal
Holder Statistics for OpenChat
The number of OpenChat addresses continues to surge, reaching a total of 138,988 addresses.
Key Highlights:
The number of addresses holding more than 1,000, and 10,000 CHAT has been steadily increasing. Source: icterminal
The supply of CHAT held by addresses with 1K–10K CHAT and 10K–100K CHAT reached an all-time high last week. Source: icterminal
This trend demonstrates that mid-sized investors are heavily accumulating CHAT, reflecting growing confidence in OpenChat’s potential and its continued adoption within the ecosystem.
OpenChat continues to attract a growing number of active users to the ecosystem, setting itself apart with innovative features and functionalities.
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