Metrics and KPIs
What we measure decides what we improve. This page is the metric hierarchy: the one north-star at the top, the supporting metrics below, and what counts as "healthy" at each scale stage.
The north star
Weekly real-viewer-earned-USD.
We measure the dollar-equivalent value of accruals credited each week to wallets that pass the "engaged real user" heuristic (Layer 6+ of anti-fraud). One number, across all tiers, all streamers, all distributions.
Why this:
- Captures viewer value created. If this grows, viewers are getting paid for time spent.
- Filters out sybil — using only real-user accruals, not gross.
- USD-denominated, so price moves in BTV/streamer-tokens don't distort the trend.
- Weekly cadence is fast enough to react and slow enough to smooth noise.
The four supporting growth metrics
1. Active streamers
Number of streamers running ≥ 1 distribution per week.
| Stage | Healthy band |
|---|---|
| MVP / closed beta | 5–25 |
| Public alpha | 100–500 |
| Year 1 | 1,000–3,000 |
| Year 2 | 5,000–15,000 |
2. Active linked viewers
Number of viewers with a linked wallet, ≥ 100 BTV staked, and ≥ 1 distribution accrual in the last 30 days.
| Stage | Healthy band |
|---|---|
| MVP | 1K–5K |
| Public alpha | 25K–100K |
| Year 1 | 250K–1M |
| Year 2 | 1M–3M |
3. Cash-out rate
What % of accrued value gets swapped to USDC/SOL through the BitView router within 30 days of distribution claim?
This is the swap-revenue lever. Higher is better up to a ceiling (we don't want 100% — some BTV stickiness compounds the network effect).
| Healthy band | 50–80% |
If it drops below 40%, we're not making swap revenue. If it climbs above 90%, BTV float isn't sticky and we're missing network effect.
4. Streamer paid conversion (Free → Pro/Plus)
% of active streamers who upgrade to Pro or Plus within 90 days of first distribution.
| Stage | Healthy band |
|---|---|
| MVP | 5–10% |
| Public alpha | 12–18% |
| Year 1 | 20–25% |
| Year 2 | 25–30% (at 5K streamers, this is the dominant ARR line) |
The four supporting health metrics
5. Real-user earning ratio
real_user_earned / total_earned. Defined in anti-fraud §measuring success.
Target ≥ 95%. Below 90% triggers a review of Layer 4–7 thresholds.
6. Streamer 30-day retention
Of streamers who run their first distribution this week, what % run another distribution in the following 30 days?
Target ≥ 70%. This is the single best signal that the product works for streamers. If they don't come back, nothing else matters.
7. Viewer 30-day retention
Of viewers who claim for the first time, what % claim again in the following 30 days?
Target ≥ 50%. Lower than streamer retention is fine — viewers naturally churn channels — but we need a real "I came back to BitView" cohort.
8. Liquidity depth (Identity tier)
Median 2% market-impact depth across all listed streamer-token pools.
Target ≥ $5K within 30 days of token launch. If a viewer can't sell $5K of streamer-token without 2% impact, the cash-out experience hurts.
Revenue metrics (the income statement)
MRR breakdown
Tracked monthly:
- Subscription MRR (Pro + Plus, predictable).
- Swap fee MRR (volume × 0.10%).
- Sponsorship marketplace MRR (deposit × 5%).
- Token launch fee MRR (variable, lumpy).
- Distribution creation fee MRR (free-tier overflow).
- Treasury LP yield MRR (passive, variable).
Total MRR target trajectory: see Revenue streams §Path to profitability.
Net dollar retention (NDR)
For Pro/Plus subscriber cohorts: do streamers expand spend over time? Expansion via:
- Pro → Plus upgrade.
- Buying additional sponsorship marketplace seats.
- Paid token-launch when their existing Native-tier distributions outgrow it.
Target NDR ≥ 110% by Year 2.
CAC
Cost to acquire one Pro/Plus streamer.
Target ≤ 6 months of subscription value. $99/mo Pro tier → CAC ≤ $594. $499/mo Plus tier → CAC ≤ $2,994.
Tracked per acquisition channel: organic, paid, referral, brand-led.
Operational metrics
| Metric | Target |
|---|---|
| Backend API p95 latency | < 250ms |
| Backend availability | 99.9% (≤ 43min downtime/month) |
| Time to first accrual after wallet link | < 1 accrual tick |
| Claim transaction success rate | ≥ 99% |
| Swap router quote latency | < 1.5s (Jupiter aggregator dependent) |
| Bug bounty SLA — critical triage | < 4h |
| Bug bounty SLA — critical fix | < 72h |
| Customer support first-response | < 24h (free), < 4h (Pro), < 1h (Plus) |
What we don't track as a north star
- Total BTV staked — vanity number that bounces with token price. Useful as a secondary lever but not a goal.
- Number of distributions — easy to game by spammy streamers.
- Twitch hours covered — proxy for nothing in particular.
- Total swap volume — useful for revenue forecasting but swap volume can grow from speculation that doesn't reflect platform health. We pair it with real-user earning ratio to filter.
Reporting cadence
| Cadence | What |
|---|---|
| Daily | Operational dashboard (latency, errors, RPC health, MongoDB health) |
| Weekly | North star + 4 growth metrics, leadership review |
| Monthly | Full MRR breakdown, paid conversion, streamer cohorts |
| Quarterly | Public transparency report — emission progress, fee revenue, sanctions screen counts (anonymized), bug bounty stats |
| Annually | Audit summary, full P&L, strategy refresh |
The transparency report is published to this checkpoint site under a
Transparency section once production launches.