### **Less Trust, More Truth? Questioning Metrics in Web3**

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#### **Abstract**
Blockchain technology aspires to replace trust-based systems with truth-based mechanisms, yet current incentives in Web3 often reward gamed metrics over genuine adoption.

[**The Spammening**](https://polkadot.com/spammening) - an initiative transparently funded by the [Kusama](https://https://kusama.polkassembly.io/treasury/425) and [Polkadot](https://https://polkadot.polkassembly.io/referenda/1169) treasuries aims to demonstrate the transaction throughput of the network.

However the approach has inadvertently served as a perfect case study in how current incentives encourage the creation of artificial activity to inflate metrics and drive speculative behaviour revealing the systemic flaws in how adoption is currently measured and rewarded by the market.

This paper critiques the reliance on superficial blockchain data like transaction volume, fee revenues and market capitalisation, proposing a shift toward more nuanced, impact-driven measures to better align Web3 ecosystems with the stated intention of creating a world of "less trust and more truth."

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### Introduction: Are We Living Up to "Less Trust, More Truth"?**
Web3 is heralded as the future of a decentralised internet, built on transparency, trustlessness, and decentralisation.

However, its success metrics mirror the broken engagement-driven incentives of the web it seeks to replace, rewarding superficial activity rather than meaningful contributions.

The slogan **"less trust, more truth"** underscores Web3’s vision of reducing reliance on intermediaries and creating systems based on verifiable data.

Yet the incentives in blockchain ecosystems frequently prioritise gamed metrics—transaction volume, fee revenue, or active wallets—over substantive adoption.

#### **Core Questions**:
1. How do current incentives reward manipulation rather than genuine growth?
2. Can blockchain systems shift to metrics that reflect real-world value and impact?
3. What role does transparency play in exposing these systemic flaws?

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### The Spammening: Transparency Exposing Fragility
#### **Background**:
[The Spammening ](https://https://polkadot.com/spammening)is an experiment currently being conducted on both Kusama and Polkadot networks that has been designed to showcase Polkadot’s scalability within a competitive market - specifically its transaction throughput.

Funded transparently by both [Kusama](https://https://kusama.polkassembly.io/treasury/425) and [Polkadot](https://https://polkadot.polkassembly.io/referenda/1169) treasuries, it has so far succeeded in demonstrating high transaction throughput, but in the process has inadvertently revealed how vulnerable blockchain ecosystems are to gamed metrics.

Here's how the experiment works:

#### **Setup**:
1. **Treasury Funding**:
- The Kusama and Polkadot treasuries allocated **2860 KSM** and **65,000 DOT** respectively for the experiment.
- Funds were used to cover transaction fees and existential deposits, with unused funds returned to the treasury.
2. **Scripted Activity**:
- Thousands of new wallet addresses were generated.
- Automated transactions between these addresses filled blocks to 75% capacity over 30 minutes.
3. **Metrics Manipulation**:
- Artificial activity has caused a **5500%+ increase in Kusama fee revenue week-on-week**, generating $35,000 in total fees for the treasury.

#### **Market Reaction**:
- **Speculative Price Pump**:
- Trading bots interpreted the fee spike as organic growth, triggering a **110% intraday price increase** for Kusama’s token (KSM).


- **Perception vs. Reality**:
- The inflated metrics boosted perceptions of network activity despite the absence of meaningful adoption.

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#### **3. Lessons from the Spammening**
The Spammening highlights key vulnerabilities in how Web3 ecosystems measure success and align incentives.

1. **Transparent Manipulation Reveals Flaws**:
- The treasury-funded experiment, while transparent, exposed how easily blockchain metrics can be gamed.
- Metrics like transaction volume and fee revenue lack nuance, often rewarding superficial activity over substantive impact.

2. **Speculative Markets Exacerbate Fragility**:
- Trading bots and speculative investors amplified the artificial activity, creating volatility without substance.
- This underscores the fragility of blockchain markets, where surface-level metrics drive significant market movements.

3. **Erosion of Trust**:
- By rewarding gamed metrics, blockchain systems undermine their own promise of "truth."
- Transparent experiments like the Spammening reveal the urgent need for more robust, meaningful measures of success.

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### **6. Building a "Less Trust, More Truth" Ecosystem**
To uphold its foundational principles, Web3 must embrace a cultural and technical shift:
1. **Call Out Manipulative Practices**:
- Actively critique and expose tactics that prioritise hype over substance.
2. **Promote Nuanced Metrics**:
- Replace simplistic measures with robust frameworks that assess real-world value.
3. **Focus on Long-Term Impact**:
- Align ecosystem incentives with sustainable growth and meaningful adoption.

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### Conclusion
The Spammening exposed the systemic flaws in how Web3 ecosystems measure and reward success. By transparently funding an experiment that inflated metrics, the Kusama and Polkadot treasuries inadvertently revealed how artificial activity distorts perceptions of growth and erodes trust.

To fulfil its potential, Web3 must move beyond superficial metrics and speculative dynamics.

This transition requires a commitment to cultural and technical transformation, prioritising real-world value over artificial narratives to build a more equitable and impactful Web3 economy.

By embracing transparency, accountability, and impact-driven measures, blockchain ecosystems can create a sustainable foundation for decentralisation—one that delivers on the promise of "less trust, more truth."