Litentry this week: the rise of blockchain data analytics, whitelisting, staking, and new office

👀 First, what happened to Nansen?

  • Wallet labeling and categorization. Persuaded to a wallet’s transaction type, frequency, assets holding, and other traits, they label different wallets correspondingly. For example, a wallet is ‘smart LP’ if made more than US$100,000 providing liquidity and mining liquidity by staking pool tokens on Uniswap or SushiSwap, or ‘Whale’ if ranked one of the top 100 addresses by ETH balance that don’t have any other labels. Their labels are created either by algorithm or manually or by community proposal.
  • Dashboard for data visualization and manifestation. For example, ‘Token God Mode’ visualizes assets flow among exchanges and ‘Wallet Profile’ does target address analysis.

What does it tell us? — how much value blockchain data has

  • Reduce information inefficiency in investment decision-making. Although blockchain address is anonymous, compared to the traditional stock market, crypto has higher transparency in its real-time assets flow. Also because crypto is not fully regulated by government policy, investors might be subject to higher investment risk, it’s even more important for them to grasp the trend of asset flow in the markets to seek good opportunities for investment and lower one’s risk.
  • Business and investment insight in the NFT field. Comparison of NFT projects, floor price and price estimation for potential sales, and deep insight into how the market is shape would certainly benefit users and even crypto projects from getting involved in the NFT space.
  • Bot filtering in crypto events. Spambot is notorious for disrupting the system and undermining the interest of both the project side and the users. Identifying bots and filtering them out means the value previously consumed by bots is re-captured and returned to the users.
  • Building up the cohesive connection between projects and users. “Crypto is attention economy, holding a specific crypto token shows alignment with its visions and services as a credential of its loyal community member,” says Felix Xu. Community is the foundation of DAO governance and project growth. As such, leveraging data to airdrop assets or reward to engage with users cost less and brings long-term benefit to the projects.
  • Fighting against ransomware. Using blockchain analysis tools, regulators can confirm compliance with regulatory guidance and law enforcement can trace the ransom paid in cryptocurrency to attackers to its cashout points at cryptocurrency exchanges.

🏃‍♀️ Let’s see other blockchain analysis projects

  1. Chainalysis

✨ Our upcoming product: Whitelisting Service

Constellation-like network of the transaction flow. Red node: the father address that transfers out tokens; Grey node: the child address that receives the tokens
  • Customize target user groups. With sophisticated machine learning models and big data analytics, we label each wallet according to their historical behavior and assets holding status, so as to allow businesses to efficiently find their target user group and give them economic incentives to further contribute to the ecosystem.
  • Filter out spambots. Spambot is a deeply enmeshed challenge to be solved. Though 100% effective bot filtering cannot be guaranteed, a list of proven spambots is still helpful for the community to lower the noise from unwanted guests.
  • Detect malicious transactions. We’re able to detect and ban out malicious users by tracing their transactions of certain assets and other on-chain events. In IDO platforms, this technology is helpful in enhancing fairness and transparency in the game.

Testnet: setup SubstraTEE environment, SGX servers

  • Updated parachain dependency to v0.9.7
  • Investigated SGX servers
  • Setup SubstraTEE the environment and documentation
  • Documentation for ocw and benchmark testing
  • Integrated and tested the latest Phala’s token migration pallet

Misc: NFT pallet documentation, token migration testing

  • NFT pallet documentation
  • Token migration pallet testing
  • Discussed and investigated Web3 API and Metamask API
  • Setup run-deck environment
  • Finalized relaychain & parachain staging environment deployment
  • Fixed Kusama registrar bugs

💸 Did someone say staking? We will soon have a pool for LIT users to earn dLIT!

🎙 “Ten for Litentry” #1 is out!

🏡 Our new Berlin WeWork office!


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