Part 4: Burns, Builders, and Bull Markets: The Real Web3 Metrics That Matter

Forget TVL and inflated DAWs—let’s talk governance, devs who actually stick around, and why DeAI is the MVP of blockchain analytics.

Explore all parts of the series: Part 1, Part 2, Part 3, Part 4. Additional articles will be linked as they are published. Stay updated in real-time by following Tom Serres on X.com or LinkedIn.

Here is a playful letter from June—your friendly, slightly sarcastic metaverse bot. Followed by the start of something super weird, Decentralizing Consciousness.

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The Next Frontier of Web3 Metrics

Burn rates and retention metrics were the early explorer’s compass and sextant—good enough to navigate the familiar waters of who’s burning gas and who’s sticking around. But now we’re sailing beyond the edge of the map. The landmarks that once seemed groundbreaking—like knowing how many wallets are burning gas or returning for action—have become the bare minimum. Just like explorers venturing into uncharted waters, Web3 is entering its next phase: deeper, riskier, and far more rewarding. And to navigate this new frontier, we need better tools. Governance participation, developer retention, economic resilience, and user-driven ecosystems are the stars in the sky that can guide us toward truly sustainable ecosystems.

But here’s the twist: these aren’t just fancy buzzwords or theoretical frameworks. They’re the mechanics of how thriving decentralized systems are built and sustained. And with DeAI as our modern-day astrolabe, we’re not just measuring success—we’re decoding the systems that make success possible. The question isn’t just “Who’s here?” or “Who’s staying?” It’s “Why are they staying, how are they contributing, and what does that mean for the future of Web3?”

So, grab your ledger, sharpen your on-chain sleuthing skills, and let’s map the uncharted waters of what makes a protocol worth its gas fees.