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Arbitrum x Bubble Maps
Recorded: Nov. 10, 2023 Duration: 0:39:49Space Recording
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And in the Arbitrum
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So, there's also a hackathon coming with
And in the small Matthew
Hello, hello, and it's a pleasure to be here as well. My name is Nick. I'm the CEO of PapoMaps, and we have a lot of things to share with you today. We've been on Arbitrum for over a year now, and it has been a pleasure to explore tokens, NFT collections in your ecosystem. We have plenty of examples to share later on in the space.
Fantastic. Yeah, for sure. With us as well is Fred, right? Fred, are you there?
Oh, sorry. Say this again. I didn't hear you. My apologies.
Oh, sorry. Can you hear now?
Yeah, yeah. Perfect.
Okay, super. Yeah, I was saying that Fred as well is with us. So, yeah, thank you for joining us, Fred. I don't know if you can listen to us.
I don't know. Well, maybe we can send in a message to see if everything is all right with the mic and with the sound.
Oh, yeah, I think he's going to join again. Super. Okay. Yeah, but maybe we can start, like, getting to know more about Bubble Maps.
Maybe if you can tell us more about what is it, what, yeah, at the end, what is it? What is Bubble Maps?
Of course, of course. So, Bubble Maps, it's a brand new vision for on-chain data. Because if you think about it, on-chain analytical tools are usually complex, intimidating, overwhelming.
And with Bubble Maps, we're bringing a fresh perspective on on-chain data. And how we do this is through interactive and playful visuals.
So, instead of having this old list of data that looks like Google spreadsheets, well, we have chosen to make data more playful for colorful bubbles on screen.
And the way that it works is actually very simple. You take any token or NFT collection, and we are going to represent all the top holders as bubbles.
So, one bubble will represent one wallet from a token or NFT. And then, if there's been any transfer between those wallets, their bubble will be linked visually on screen.
And this way, you can see everyone, really, like all the behind the scenes of the token, which wallets knows which wallets, if there has been any transfer between them.
It could be the team, it could be the VCs, it could be wash trading. There's many forms of interpretation.
But really, it's been two years since we launched Bubble Maps, and since then, it has been really, we've onboarded new users who's never been familiar with on-chain data, who never used on-chain data, and who are having a lot of fun for the first time, and leveraging this incredible source of information and insights, which is on-chain data.
Fantastic. At the end, you're making it easier for all the Web3 community. I think, like, I'm super used to when I want to find out about some data, or to see data on-chain.
It's like, you go to Etherscan, but yeah, as you said, you see everything as just Google Sheets. So yeah, it's super hard to track.
But yeah, now with visuals, having this visual is making it very, very easier.
And by the way, Arbinauts, if you want to see how this is looking like, you can go to the pinned content that is here in the AMA.
You're going to find a video about how this can be seen. Cool. Fantastic.
So yeah, I would like to ask you as well, Nick, or as well, Don, what's the best way for the community to get involved and start trying Bubble Maps?
Of course. So look, we've expanded on Arbitrum a year ago.
I think on the mark was precisely one year ago. And that was an incredible launch. It was supported by Arbitrum. We did AMA back then.
We investigated. We looked into some tokens within the Arbitrum ecosystem.
And I think really the best way to get into it is start using the product directly on the app.
So the app is free. It's live.
You can go on app.bubblemaps.io and start exploring your favorite tokens.
Of course, there is plenty of Arbitrum tokens that are already in the platform.
I mean, all of them are available, but some of them that we've listed to have the historical data or to have the refresh data.
Some of them include GMX that we have the pleasure to have with us today.
Their bubble map is very interesting, too, but we'll get into this one later.
And yeah, as a whole, just use the platform across many different token standards.
It could be traditional tokens. It could be NFTs. It could be a governance token.
Like many different use cases are doable.
Also, another way of getting into it would be to look at our investigations.
We usually share weekly investigations.
It could be about a lot of things.
And those are pretty good entry points because we explain what we're seeing and we give kind of tips on how to understand the map first.
Because when you like, let's say you took a new token for the first time and you plug it, you plug it into bubble maps.
You might see some clusters that look unfamiliar at first, right?
Because a cluster could mean different things.
There could be genuine connection between wallets sometimes.
Like, for example, a centralized exchange or a staking program or a DEX.
And in this scenario, you don't have to worry about the clusters.
But on the other side of the spectrum, there could be clusters that are kind of unsavory, that could mean wash trading or scams or wallets that are owned by multiple wallets that are owned by one person.
A bit of scammy activity.
And you have to educate yourself on what a cluster means.
So, yeah, use bubble maps.
Look at our investigations as a form of entry points and some of our videos as well on Twitter.
We have a diverse set of contents on Twitter.
Fantastic.
Yeah, that's a very straightforward process.
So, yeah, cool to see that.
And there is a question from the community is forth asking where they can find the app.
Yeah, well, Nick mentioned that you can find it in their website.
That is bubblemaps.io.
But you can also find it in their X account.
It's directly there.
You'll be able to see it very quickly.
And, well, cool.
And I would like to know what market gap does bubblemaps feel or what is the key problem or key problems that bubblemaps is solving?
I think the main problem that we're addressing is that at the moment, on-chain data is barely used.
I mean, come on, let's be honest.
We all say blockchain brings more transparency.
Blockchain is about this value, decentralization.
But really, it only has value if we use on-chain data, if we leverage this incredible new paradigm that has been created by crypto,
which is the fact that everything that happens on the blockchain creates publicly available data.
So every transaction, every transfer, everything on DeFi, NFT, everything creates data.
But, again, because it is so overwhelming and complex and requires a set of skills and time that, you see, the average user don't have, well, because of this, it's a resource that is kind of wasted.
And we've been relying on this kind of centralized source to say, this is safe, this is unsafe.
With bubblemaps, we are putting the user at the center of this.
So I think we're giving them the kind of the easy way to understand on-chain data.
They can explore a token, see clusters, and really get a sense into what's happening on-chain.
And really what I've been finding particularly flattering is that not only we are investigating, but we have so many users that are sharing their own investigations.
That's what makes me proud.
Because, okay, we do investigations on our side, like other analytical tools.
Early bubblemaps has been empowering users, on-chain analysts, media, into performing, conducting their own investigation.
Really, this is, at the core, what we want to do with bubblemaps, the problem we want to address.
So who is using bubblemaps at the moment?
Well, I would say average user, like you see people getting into crypto, investing into their first coin, but also pretty advanced on-chain analysts.
You see what we call an on-chain sleuth.
So someone who, you see, uses EtherScan, or Nansen, or DeFi Lama, bubblemaps has become one of their weapons in the repertoire.
And we have media outlets as well.
Bubblemaps is integrated into many different platforms.
OpenSea, DexTools, DexSpriners.
So really, we spread far and wide.
And, yeah, I think the reason why it's been working, and the reason why we partnered with Arbitrum, for example, is because we're addressing something, which is like, okay, let's make on-chain data fun once in a while.
Let's make on-chain data fun.
Nice.
Because, yeah, DNA, it's that, and as well, like, you are saving people's time.
Like, you are giving time to the people because if someone wants to investigate, oh, sorry, if someone wants to investigate this kind of data or has an audit to do, you are saving them a lot of time, to be honest.
So, yeah, cool to see this.
And money, actually.
Yeah, true.
Because the amount of rug pulls that we found using bubblemaps of scams waiting to be executed is incredible.
Like, I have some examples of this.
Maybe we'll touch upon them later.
But, yeah, like, when you see a token and 30, 40% of the supply is connected together through multiple wallets, this is a disaster waiting to happen.
So, with bubblemaps, really, we've prevented, I think, many of our community or many of our users to get into this token that seem, some of them seem exciting at first, like, appealing.
You want to invest.
You want to leverage the hype because many people are talking about it, et cetera.
But you check the bubblemapping in a second.
You know there's something wrong going on.
And here we go.
You've avoided a disaster.
Well, yeah, totally, 100%.
I really want to hear more of those stories or examples.
Or examples, so maybe can you explain us or show those cases that you mentioned?
How were you, yeah, what did you solve in the past?
So, one example that comes to mind was one of the first scams that we found with bubblemaps.
So, this one holds a special place in my heart, so to speak.
I mean, I'm not a fan of them, but it was quite remarkable back then.
So, this token is called BabyCare.
The name is quite weird, I know, but it was at the peak of the bull run.
BabyCare was on a BNB chain.
And it was very popular.
Like, it was on the top trending of, you see, CoinGecko and CoinMarketCap.
And many people were attracted because of this metric.
When you're at the top of CoinMarketCap in CoinGecko, you see, you think it's going to be the next big hit, the next big thing in the crypto space.
So, many people were investing.
So, we took this token.
It was on BAC.
We plugged it on bubblemaps.
And immediately what we saw was super scary.
We saw a cluster culminating 30% of the supply of BabyCare in one cluster.
And this cluster, in particular, was not symmetrical by any means.
It was just looking very messy, very intricate.
And all the holders, essentially, imagine, when you look at the top holders, they were all sending BNB between each other.
Imagine this.
You're looking at wallets holding specific tokens, and they're all sending BNB to each other.
Why is that?
Aren't they supposed to be independents?
Right?
They're supposed to don't know each other.
And in this case, they were all sending BNB in large amounts to each other.
And we knew this was the same team behind it because of the way they were sending BNB across and the amount of BNB.
We knew all of those wallets belonged to the same team.
And five days, so we put out a tweet saying, guys, be wary of this one.
It's not looking good at all.
Run away.
If you can sell now.
It's not going to last for long.
And like five days later, this cluster sold at once.
All of the wallets, they sold at once.
And they took half a million away from the liquidity.
The price tanked to zero.
They deleted their Twitter, and they were gone.
So this is one of the examples that we managed to found early, thanks to Bubble Maps.
And our community was very, actually, very thankful.
And then it really started kind of a trend where, especially during the bull run, right?
That was a long time ago, but there is a meme coin season, all right?
During the meme coin season, before you invest into this giant casino, right?
Gambling.
At least check the bubble map, because this will increase the odds of you not getting rugged significantly.
So this was a very coarse example that started a trend back then, baby care.
I hope this was clear, because obviously, without screenshots, it is less easy to explain.
Well, to be honest, that's huge.
Like, for sure, it's very important to analyze.
Like, the first thing that I heard when I joined crypto or the web ecosystem is, like,
make sure of all the projects, make sure, like, be safe in space,
learn about cyber security and security, et cetera, et cetera.
But, yeah, like, analyzing each project that you are involved with is one of the most important things to do.
And, yeah, Bubble Maps is helping you to do so.
So, yeah, that's...
And, yeah, with these cases that you are sharing, with this case that you're sharing,
for sure, you can really see the value that it's giving you.
Thank you so much.
And so, starting this with baby care, then we branched into other investigations.
So the one that made us famous is the Uniswap one, where we saw one particular VC holding a lot of the units to fly,
called I-16Z.
Then we talked about DYDX.
We talked about a Galas founder suing each other.
And that was all visible on-chain, not the lawsuits, but the kind of the conflict between them and the stealing tokens.
Everything was visible on-chain.
And you see what's fascinating about on-chain data, and at least the way we approach it,
is that we tell stories.
We're not here just sharing cold data on, again, with, like, kind of a spreadsheet.
We tell stories through on-chain data with fun visuals.
So, yeah, honestly, all of this has culminated into BaboMaps becoming a kind of journalistic media where we share investigations.
And, yeah, I could elaborate on some of these stories, if you want.
Yeah, for sure.
That would be cool.
Or there is this case with GMX that you wanted to mention as well or talk more deeply about it?
Absolutely.
Absolutely.
So, when we talk about – I will give the mic to Fred in a second.
But when we explore tokens on BaboMaps, it's not only – you're not only going to see bad actions or clusters that are super suspicious.
Sometimes, you explore a project, and it's looking very healthy.
And it's honestly refreshing to see because, like, on crypto, there are so many instances of tokens that, for the longest time, they've been operating under so much, like, liberty.
They do everything they want.
They have tokens.
They don't tell people.
It's not in their tokenomics.
They're just in full control.
So, you see, there is no threat for them, really, no punishment.
And so, when we – we talked with the GMX when we branched into Arbitrum, and honestly, their BaboMap was looking exceptionally good.
There is no cluster here.
The only – no suspicious cluster.
The only – a couple of connections here and there are due to exchanges.
You're going to see a little cluster, like, around a big exchange, whether it is MXC or another one.
And, yeah, honestly, we looked through their BaboMaps very deeply.
We went through their historical data because that's one of the cool things with BaboMaps.
You can rewind the tape and see how a token is – how a token distribution is changing over time.
This is not a fixed – this is not a static vision.
You're seeing how dynamically things evolve.
And we've been through all the historical points, and GMX, they have done an incredible job with their token.
They've been super transparent with it.
Everything is clearly explainable.
On their website, there is a section where they label everything, every wallet, so you can know exactly what's going on.
And, yeah, I think this is a good kind of standard to hold to for future tokens or other tokens in the space.
So, yeah, congrats, GMX.
Hey, Fred, congrats.
Anyway, Fred is with us from GMX as well.
Nice.
Sorry.
Sorry.
Go ahead.
Oh, no worries.
No worries.
I said maybe he'll comment on this later.
But, yeah, overall, when we check on Arbitrum tokens, I think the Arbitrum blockchain is kind of to a very good, healthy standard.
I don't think this is a blockchain where scammers go to first when they think about making an elaborate scams.
So, I think I don't know what measures your sets to repel scammers like that.
But, yeah, it's pretty promising.
You've done a good job in this context.
Nice.
Thank you for sharing this information.
I will check it out as well using Google Maps.
Nice.
Yeah, well, I would like to ask you what else is coming for Google Maps.
What are those upgrades or new products that you have in mind?
Of course.
So, I just realized that one of the pinned tweets is one of our investigation with Shiba.
It's actually quite an interesting one if people want to check because we found the founder of Shiba.
Shiba Inu, right, the big token, one of the biggest meme coins.
And the founder is holding 10% of the supply and he's trying to be sneaky with it.
But, unfortunately for him, we kind of exposed his wallet.
So, that's a fun investigation.
And in retaliation, he tried to hide even more.
Just for you to check out.
Now, so, regarding the updates that we are going to push, there are three main ones that I want to share here.
So, the first one is called Codename Big Bang.
And what Codename Big Bang does essentially is, you know, remember when I talked about historical data?
So, a bubble map is dynamic.
It's when there is a, if you check, for example, GMX, if a new wallet's buy, there's going to be a bubble that pops in the map.
And if a wallet sells, GMX, the bubble is going to disappear.
So, it is changing over time.
But if you, with the codename Big Bang, you're going to be able to rewind the tape and see how a bubble map is changing from day one.
From day one where there was only one wallet holding 100% of the supplies and the deployer.
And then you're going to see this bubble explodes like the Big Bang as VC comes in and market maker comes in and the public comes in and there's pre-sale, etc.
So, imagine the dynamics time lapse of the distribution over time.
That's going to be extremely powerful.
You're going to see every bit of movement.
Imagine now the bubble map of Bitcoin.
How the first day of Bitcoin happened.
Who was holding back then?
Who was connected to Satoshi Nakamoto?
This is going to be exciting.
I'm looking forward to this.
So, this is a codename Big Bang.
This is the first.
Oh, I saw you unmuted if you want to comment on this.
No comments.
All right.
So, this is the first.
Second is called Bubble Labs.
And Bubble Labs is allowing our users to create any map.
So, not necessarily the top holders of a token like GMX or any other, but more so if you have a set of wallets that you want to transform into a map, anything could be possible.
Any set of wallets, a Google Sheet wallets, you can transform it into a map.
Or if you want to incrementally build your map from one wallet, for example, then you see all the neighbors of these wallets and then the neighbors of the neighbors and incrementally build your map from one wallet instead of starting from a token.
And three, we want to implement AI functions to help with the data interpretation.
Because if you check BabMap for the first time, you might be wondering what your cluster means, what is hiding behind it?
Is this a team wallet?
Is this OSH trading?
Is this VC?
And with AI, we could easily help them decipher what's behind a cluster.
So, that's coming as well.
Although this is coming early 2024, maybe not AI, but at least Babble Labs and Big Bang early 2024.
Wow, congratulations on that, Nick and Don.
Like, you can't totally be seeing that you guys are cooking, are getting ready, and yeah, building new updates for the community.
That's great.
That's great.
And yeah, for sure, it's exciting.
Like, as you mentioned earlier, like, at the end, this is a safer time for people.
And as well, money, when you find out about weird projects that are in the ecosystems.
So, yeah, very exciting.
And the AI functions.
Yeah, you're bringing the latest of the latest in the ecosystems.
Of course.
Of course.
I want to mention that I saw you pin this as well.
But yesterday, we shared a job post.
So, we are hiring with Babble Maps, obviously, since we fundraised.
We're hiring an on-chain researcher, an on-chain sleuth.
So, if you want to help Babble Maps in our mission to uncover what's happening in crypto, if you love juicy stories, and if you want to find the bad apple in crypto, you can join us.
The job post is in our Twitter feed.
We shared it yesterday.
Great.
Fantastic.
Yeah, as you heard, Arbinauts, there is a job opportunity in Babble Maps.
They are growing, so they need an on-chain data researcher.
Sure.
So, cool.
Fantastic.
Well, Nick, we are about to finish the AMA, so wondering if you would like to share something else to the community, or if, like, what's the best way as well for them to get in touch with you?
Like, maybe if you have a Discord for them to get involved?
I'll take this one.
I'll take this one.
So, for anyone that wants to kind of get involved with Babble Maps and join the discussion and join the conversation about on-chain data, feel free to join our Telegram, which is t.me slash Babble Maps.
And as well, you know, go through our Twitter.
We've got plenty of use cases and threads there ready to help you with your learning.
But, yeah, we're mainly active on Telegram, where we have a strong community who all want to know what clusters, different clusters mean.
It's like kind of an open forum.
So, please do get involved and join in there.
And, of course, we're active on Telegram, too, as an individual.
So, if you had any questions or queries, just join us, join in there.
And, yeah, just get stuck in.
If there's one thing I can really push is transparency in this up-and-coming bull run, to stay ahead of the game, to make sure your investments are in the best possible position.
Do your research and, you know, add Babble Maps to your arsenal of due diligence.
You can't go wrong with making sure you're involved in a safe, upstanding, credible project.
Great, yeah.
By the way, I just pinned their link to the Telegram for you if you want to join.
And, yeah, well, thank you so much for joining us today, Dawn and Nick.
It was very cool to get to know more about you as well.
Thank you, Fred, for joining.
And, yeah, those were very interesting stories.
And, yeah, good to know that they are all there in your ex account if I want to review them again.
But, yeah, thank you very much.
And I hope you're having a great Friday already and enjoy your weekend.
Thank you so much for having us.
Cheers.
See you soon.
See you later.
Bye-bye now.
See you on our Telegram, everyone.
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