The RSS3 Foundation Letter - August

Greetings! As RSS3 continues to develop, we have experimented with lots of ways to communicate the progress of the project and also the work of the foundation. The RSS3 Weekly update has worked pretty well as it covers all the new things about the project. However, I've found the format a bit...distant. These updates worked more like announcements generated with machines (in fact they are hand-written lol) rather than a more of clean and mutual communication. Therefore, we've decided to change it into a monthly Foundation letter: For each letter, there will be information about developments of the network and ecosystem, some of the stuff done by the foundation, a simple comment from the foundation (most likely from me lol), and also something you can do to get involved with the whole RSS3 ecosystem. We expect these letters to be simple, clear, and insightful.

Now let's start with August.

Most Important Metric

• Monthly monetizable API calls: 23,989,276

The core metric that we are measuring now for the success of the network is "monthly monetizable calls". By definition, it means the amount of calls the network handles monthly that can be monetized (since the network is still free of gas with V1).

Dev Progress

• Network V2: After more than 5 months of intensive research and development, V2 is now under testing. A huge performance boost is introduced with the ready-for-decentralization architecture implemented.
• Base: We supported Base, so basically all the apps built upon RSS3 now can get the information or feed from Base. Friend.tech has been big for Base but we are only looking forward to seeing more developments on this new L2.
• Lens Copilot: By partnering with Lens and Copilot.xyz, we released the private beta for Lens Copilot. 20 initial users were recruited, with an average of more than 15 queries per user.
• MoE breakthrough: We've made some progress with MoE-driven smart contract execution. RSS3 AI will soon enable applications to execute smart contracts with natural language instructions.

Marketing and Ecosystem Progress

• We joined the pre-seed round of Tako, the open social recommendation layer. The funding team has deep belief in the future of Web3 social and we are expecting to have technical integrations later on.
• We supported the Hong Kong Crypto Finance Summer Summit.
• We participated in the Salon4 Round Table at Future3Campus, discussing misconceptions regarding the relationship between Open Web and Data Sovereignty. Also contributed to the 0x499DAO community live event, sharing insights on building an open network.
• Our CMO, Kate, mentored during the fifth week of Moledao's 'AIGC+Web3 Week.' She delivered an enlightening informative session centered around 'AIGC+Web3 Business Implementation Case Studies.
• We joined the Web3 and AI Hackfest hosted by the Australian Blockchain Club along with OpenAI and other projects.
• We hosted / joined 5 Twitter Spaces.
• $RSS3 was listed on Bithumb.

Get Involved!

• We are sponsoring the Hong Kong Fintech Week in November. Team members will be there and I (Joshua) am expecting to give a talk. If you are looking forward to talking to the foundation, you are more than welcome to join. We are also going to be a host of an official side event.
• V2 of the network is about to be officially released. Let us know if you want to build with us for a social dapp, blockchain explorer, search engine, or AI model.

Some Comments

While the market stays "bearish" for Web3 and the general crypto market, we have been consistently making progress in terms of R&D and adoption. V2 was a bit delayed but still on track for being the foundation of all kinds of dApps in the future, and the MoE (AI) part of the network has been making good progress. Ecosystem wise, Tako is a project that we can work closely with so we decided to join in its first round. Marketing wise, we are focusing on more non-Web3 oriented events as they better help grow outside adoptions. All in all, it's still the best time for building. Looking forward to a fruitful next month.

Best,
Joshua and the RSS3 Foundation