Bubble Știri

Bubble Maps are a powerful on-chain analysis tool. They enable us to understand the nature of the supply distribution of an asset, be it a crypto or an NFT collection.

Bubble Map for MultiversX

Whether it’s to understand an entire ecosystem by having a complete view of which accounts or protocols are sharing the supply, or to try to detect dangerous assets that could reveal themselves as scams, bubble maps are an indispensable tool for any ecosystem to increase transparency and trust.

The project is based on

Itheum’s DataNFT technology and allows this tool to be shared as an SFT (Semi-Fungible Token), making it the first on-chain analysis tool available it-self on-chain.

The DataNFT Format of the Bubble Map

Thanks to DataNFT technology, access to the latters is protected and can only be accessed by those who hold this DataNFT, unlike a classic NFT, where the IPFS link to the jpeg file is accessible to all.

These bubbles maps are not in jpeg or png format, as would be the case with most “artistic” NFTs, but in SVG format, which allows to add hyperlinks and become a real portal to the MultiversX explorer. The DataNFT format is also dynamic, allowing data to be updated as often as necessary, in this case every 24 hours.

On the technical side, the script fetching the data from the blockchain and generating the bubble map is stored in a github so that it can be triggered every 24 hours, and allows this data to be exported to a server. The SVG file storage URL is then encrypted by Data Marshal nodes, a distributed data brokers, in order to link the DataNFT to the data stream url without showing it publicly.

Finally, owning this DataNFT lets you download the Bubble Map SVG file, or view it through Itheum Explorer.

As mentioned above, by providing a direct link to the MultiversX Explorer, the bubble map transforms from a simple data visualization into a real tool for driving your on-chain research.

The Tool

In its first iteration, this map represents the 250 top Holders of the EGLD crypto-currency. Each node is either labeled by its ERD address, or by a nominative ticker for all public entities, projects and smart-contracts according to the already labeled account in the MultiversX Explorer, but also those coming from my own research. The size of the nodes represents the number of EGLDs held per account, classified in different colors according to the percentage of supply held.

Bubbles Map EGLD

Also, each EGLD transaction between two nodes is represented by an edge with an arrow from the sender to the receiver. As for the nodes, the size depends on the total number of EGLDs exchanged. Research is underway to make these edges clickable too, so that they can be directed to a filtered MultiversX Explorer page containing only the desired transactions.

So as not to render the chart unreadable and remain in the initial analysis, exchanges between accounts and Smart Contracts/Exchanges/Staking Providers are not shown. Only account-to-account exchanges are shown, although some transactions are kept for analysis purposes, for example transaction between two accounts of a centralized exchanges.

As the bubble map is not a tool frozen in time, its features and design will continue to evolve and will also require recurring labeling updates, which will be carried out as frequently as possible.

It is initially intended to be non-profit-making, its aim is first and foremost to provide an accessible tool that can be shared widely in the community, to increase understanding of the importance of on-chain analysis and enable the curious to start their own research.

The money raised from the sale of Bubble maps will be used solely to amortize the low cost of operation, and to plan future improvements and build more advanced ideas. This should not be seen as an investment, only as a contribution to a tool that I hope will be useful to the community, although bubble maps are tradeable, with 5% royalties.

Project Walllet Herotag : GleipnirAnalytics

Project Walllet Herotag : GleipnirAnalytics

For its first iteration, the EGLD Bubble Map, the supply is 5000 DataNFT so that it can be used as a proof of concept and shared as widely as possible in the community. Once demand has found its equilibrium point, it’s likely that the remaining supply will be burn. This initial experience also serves to evaluate the latter, in order to set a supply more in line with current and futur demand for the next Bubble Map or other tools.

In the first phase of the project, all core Tokens will have their own bubble map :

EGLD / WEGLD / WBTC / WETH / HTM / ITH / RIDE / ASH / CRT / MEX / UTK

For each Bubble Map, 10% of the supply will be donated to

Itheum to reward Trailblazer NFT holders, and 10% will be kept by the project to be Airdrop, given as rewards to users, etc. The remaining supply will be listed on the Itheum DataDex for a price that will remain around $1 in the long term.

In its second phase, it’s important that the whole ecosystem benefits from this tool, but unfortunately, in its current technical design, it will certainly not be possible to create a Bubble Map for every asset living on the chain. That’s why the project will opening up the tool to custom orders at the projects requests. Any project wishing to increase transparency and understanding of its own ecosystem is welcome, in return for a small and fair contribution.

In this context, the supply and type of distribution will be decided in accordance with the project. Distribution may be by Aidrop to all holders of the asset, to owners of other bubble maps, in free or standard mint. All possibilities can be studied !

Finally, the ultimate aim is not to make users pay for every Bubble Map to which they wishes to have access. When a large number will be available, it’s likely that a Premium NFT will be introduced to give access to all the tools for a price that will be lower than the purchase of all of these, of course, mint or secondary purchase by the unit will still be possible.

In order to assess the expectations of the community and of the projects, please, answer this short google form so that we can find out which token or NFT Bubble Map should be created first.

Threads and case study articles will be published in the future, so that you too can learn how to use all the power of on-chain analysis, stay tuned! ⚡

The easiest way to access all future catalogs is the Itheum Explorer through the link bellow, all bubble maps will be listed there, with a redirect link to the Itheum DataDex where they are listed :

Itheum Explorer

For more information on how to buy and visualized a Bubble map through the Itheum Explorer, here’s a short video with further explanations of the entire utilization process : twitter.com/xFoudres/status/1689291789121826817

Pay close attention to the different offers, so you can buy at the best price, but note that the project’s initial offer will remain at around $1 in the long term!

datadex.itheum.io/datanfts/marketplace/DATANFTFT-e936d4-02

Once purchased, it is also possible to download the SVG file of the Bubble Map in your Itheum Wallet and clicking on “view data”, this file will represent the current Bubble Map export, but will need to be downloaded each time you wish to have the latest data as it updates every 24 hours :

datadex.itheum.io/datanfts/wallet

I would like to make it clear that there will be no public herotag on the map, nor any names of people, as this project is not aimed at reducing users’ privacy. Only entities/projects/SC will be labelled.

On-chain analysis is a powerful tool, which can sometimes lead to users being identified, which is why privacy will always be preferred. On-Chain analysis must not be a pretext for doxxing people, contrary to certain projects that wish to de-anonymize blockchain.

When some play the role of Gotham’s prison city ⛓🏙
Others prefer the right to wear a mask 🦇🎭
Increasing transparency, while protecting privacy.

https://preview.redd.it/6zgu1cp91bib1.png?width=720&format=png&auto=webp&s=8642b0a806f76288ab1cfd534985c2b9f712242d

Source: xFoudres/Medium/Bubble Map for MultiversX