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#WAXWednesday | TRUST, Track and Chart: The Chain Champs Toolkit
Recorded: July 10, 2024 Duration: 0:57:03Space Recording
Full Transcription
Good morning, everybody. We'll get started in just a couple minutes here. We've already
got our speaker right here. We'll send out an invite, our speaker request, and then we'll
go ahead and get started. Hope everybody's having a fantastic Wednesday so far this morning.
What's up, Optic? I've been seeing you in like every stream I go to lately. It's great to
see you here. Thanks for coming. Let me go ahead and retweet the space.
We'll get started here in just about one minute.
How's your mic test, Justin? Is it working? I hope it's working. It sounds like it is.
Excellent. Excellent. Excellent. Just to turn on the air conditioning in here, it is hot,
hot out here in California today. It is 110 right now or will be soon. So I'm looking forward
to kicking off wax Wednesday and then grabbing maybe a cold iced coffee or something. Hey,
Sully, how are you now? Thanks for coming. I think we're ready to get started. I'm not
sure. I'm not sure. I'm not sure. I'm not sure. I'm not sure. I'm not sure. I'm not sure.
There's no point in delaying. So let's go ahead and good morning, GMGM, Wax Blockchain.
Welcome back to Wax Wednesday Spaces on X. Thanks, everybody, for joining us today. Hey,
Dionix. On this summer morning, I am joined by Justin from Chainchamps. Justin is the founder
of Chainchamps, and they hopped into the Web3 universe after about five years in cybersecurity
and 20 years in programming. Before that, Justin placed nationally an algorithm slash programming
competitions at both the high school and university levels. And so if you're following
them that far, it kind of lends, that journey lends itself to the idea of Chainchamps, right?
Using algorithmically optimizing the blockchain. Say that three times fast. Justin, welcome.
Thanks for coming today.
It is great to be here. Thank you for having me.
Absolutely. Now, if you're just tuning in and you're not familiar with Chainchamps yet,
they specialize in data analysis on projects to reduce bots, optimize sales, and help foster
their communities. The Chainchamps team boasts a doctor of data sciences who was responsible
for popularizing data science and machine learning with Canadian telecom. This, in addition
to working extensively with different algorithms and building fraud detection analysis platforms.
Now, today we're going to be talking about four main products that Chainchamps has to offer. So
I'll run through them real quick, and then we'll kind of dig into these a little bit more deeply.
So first up, you've got the Chainchamps marketplace, right? It's a live marketplace on wax,
giving collectors a competitive edge, and you can configure an auto buy within that service as well.
The next one up is the Trust Score. This is a wallet analysis system that helps identify bots
and bad actors. Third, wax charts. It's a unique tool that provides valuable data and visual
representation of the secondary market. You can search different collections there. I'm going
to have questions about that one for sure. Finally, the one that was really interesting
to me most recently was Dropwatch, right? This is a real-time dashboard for NFT drops,
lending you critical data and offering some insights. This one was really popular, I think,
with the Funko stuff. We'll get into that a little bit as we go. So if you're hanging out,
grab your coffee or your favorite frosty beverage, join us. We're going to talk about Chainchamps
right now. I'm going to start with the marketplace, Justin, if that's all right. I think most of the
users kind of know Chainchamps through the marketplace. So the first thing that I think
about is the live marketplace, like the fastest marketplace on wax, right? So what are some of the
advantages of using a live marketplace over the traditional marketplace, especially when you're looking at
like NFT drops? Yeah. So I think we launched the live marketplace back when the first TMNT Funko drop
happened. And a lot of that was inspired by the fact that when we had MLB hit wax, a lot of the
sort of low mints and poorly priced items were being snatched up by people that had perhaps like
tooling that they had developed themselves or other methods to sort of like beat the average buyer to
getting some of the cool deals or some of the things that they were really searching for at a
good price. So it was sort of inspired by giving people the tools that they needed to do that
initially. And for a pretty solid amount of time, you could realistically compete against bots just with
like the mouse and your fingertips pressing on buttons really quickly on Chainchamps. And that was
sort of like what drove trying to do things as fast as possible was, A, our desire to get some low mints
with the original Funko collections, and two, to sort of share that with everybody else so that everyone
was on a somewhat level playing field. And as you sort of mentioned in the introduction, that led in
pretty well to the auto buy feature that we support on Chainchamps as well that we developed to
sort of make that gap even smaller. Because for like a reasonable amount of time, you could buy things
on Chainchamps and compete with bots, but bots sort of developed as we put those tools out. And we wanted
to continue to allow people to compete with bots. And that's why we developed auto buy so that you could,
A, see things coming in really fast and get super awesome deals on them. But then if there were like
mega amazing deals or mispriced items, unfortunately, you could also potentially compete with the bots
for those as well.
One thing you mentioned is that the bots adapted. That's something I've noticed as well.
As soon as you close, as soon as you close the door, a bot opens a window. And it's a constant battle
of whack-a-mole. I think when you're trying to shut everybody out. Um, I love the idea of the auto buy.
Um, I remember looking at videos a long time ago, I think from Mike Decrypto talking about making, uh,
sniper bots and how you could program them, but this kind of, I don't need to know any kind of programming
or anything like that. Can you kind of explain how auto buy works?
Yeah. Uh, so basically we have at the core of it, a contract on the blockchain that validates, uh,
everything that you create and sort of acts as a, um, security layer to make sure that you're not
accidentally buying things you didn't want to buy. Um, so basically you go on to chain champs, you set
up, uh, what kind of rules you want. Uh, rules are basically really, they can be either really big
definitions of what you're looking to buy or hyper specific definitions of what you're looking to buy.
You could go and you could select a collection and say, Hey, I want to buy anything from this
collection. That's less than like 5 cents or less than 10 wax. You can declare, um, using either
USD or wax as your currency. Uh, and then you can get more and more specific. You could say,
I want it to be from this schema. I want it to be this rarity. I want it to be within this mint
number range. And you can keep doing that until you've defined exactly what it is that you want.
So some people, uh, on drop days for a different, uh, drops on wax, they might say, Hey, I want to
buy, I'm not going to be there for the drop, but if there's any, uh, packs that hit the secondary
market that are less than $10, I want auto buy to pick them up for me. And some of the time it'll
get them at like for $10. Some of the time it'll pick up the ones that accidentally cost $1. And that's
sort of the idea behind how it works. So you can either use it to buy things that you aren't going to be
there for yourself or you can do it to hunt things that may be only periodically come up on the
market and you would otherwise have missed if you weren't there the second it, it showed up on the
market on the secondary market. And so it sounds like you're, you're really like allowing it's,
it's almost like giving a little bit of freedom. So you're not needed to like kind of sit at your
computer all day. Um, when there's a drop going on, um, sometimes that's a little bit of the fun,
kind of sitting with everybody and talking about what you get. But I totally understand,
like if you're going to go out for it's summer, everyone's going on vacation. You don't want to
miss a really cool drop. Is that so when they start hitting the secondary market, you can auto,
if I'm understanding what you said correctly, you can just set it up to buy when you're not even
paying attention. Exactly. You can set up how much you want to pay for it. And if something shows up
that costs less than that, it'll pick it up for you. And you can tell it like what the maximum number of
items you want to have as well is. So if you only wanted to buy 10 packs, that's what your budget is.
It would only buy 10 for your most. Yeah. You don't want to wake up and have a hundred packs of
something. You didn't mean to get a hundred packs. I get that. Exactly. Um, so I know we kind of talked
about, um, kind of some of the features. Um, are there any common mistakes that folks kind of run into
when they're setting up an auto buyer? Um, not so much anymore. I feel like we're at a point where like
most of the people that are actively using it, have a pretty firm grasp on how it works at this
point in time. Um, historically we've seen people, uh, maybe set up prices that were a little bit too
high. Uh, maybe they forgot to enter in a template ID, or maybe they forgot to enter in the mint range
they were looking for. And then they might've wound up paying, uh, like 50 cents for something that was
only worth 5 cents if they forgot to like say, I only want low mint, uh, items, uh, with this rule.
But, uh, we, we really don't see all that many mistakes anymore. It's pretty, it's pretty streamlined.
And it, before you like set the rule up and write it on chain, it also lets you sort of review it all.
You get to see like exactly what it is that you're setting up and how it's going to work.
So hopefully that review phase, uh, helps you catch any mistakes you would have made.
But, uh, we don't see many mistakes anymore.
So when you, when you set up the auto by writing rights directly to the chain, is it just editing
or adding like a, an entry in the contract to check for, or like?
So the way the contract part of it works is the contract basically just works to write whatever
rule it is that you have on the chain. And then our servers behind the scene will look at all of the
all of the rows that have been written to the, to the auto by table and basically just
buy whatever is there on the behalf of the people that have created those rules.
So something I may have glossed over as well is that you have to deposit the wax to that contract.
So you have a balance on that contract because we can't just buy things with your wallet.
Obviously that's not how it works. So you have to basically put a deposit in for whatever amount,
uh, you are hoping to buy, and then it'll use that, uh, stash of wax to make the transactions
on your behalf. So that's where the contract partially comes into play and make sure that a,
you actually have the balance you need and it makes sure that you don't accidentally overbuy because
all of the buy requests go through the contract as well. So at a contract level, it makes sure that
you only buy the amount of things that you set out to buy and that you can't exceed that limit.
So there's no opportunity for us to like make a mistake on our servers and accidentally try to
buy extra things for you. That's, that's like cemented at a contract level. So you're not going
to accidentally overbuy or exceed your budgets.
Perfect. Yeah. I like the idea of the backstop. Cause I, I think all of us could screw up once,
at least when we're doing something or sending something, um, pitching, is there anything else
that, um, you want to mention about, uh, the marketplace itself before we start talking about
the trust score? Uh, no, I, I think the marketplace has been around for a while. I, I hope that a lot
of people have had the opportunity to use it at this point in time. And I think that some of the other
things that we're going to talk about are a lot more exciting at this point.
Yeah. Yeah. Um, I did kind of try to say a little bit of the best for last. Um, so let me talk about
trust score next, right? So will you kind of, um, give an explanation to our listeners? What exactly
is the trust score system that you guys built? Absolutely. Uh, so it came from the concept that
wax has a whole lot of data flowing through it every single day. And what we basically wanted to
do was we wanted to look at all of that data. We wanted to look at every transaction every single
day and try to understand what it is that drives any given wallet. What is it that is behind that
wallet? Is it, um, somebody that is a bad actor? Is it somebody that is a bot? Is it a regular
person who's interacting with the wax blockchain the way that you would generally expect them to be?
And we sort of analyze all that data. We use machine learning and AI to find different patterns.
Uh, and we build graphs, basically large graphs, which we'll get to in a little bit with wax charts.
And we run different analyses on those to basically figure out what these different patterns and ideas
look like. And then we try to sort of simplify that into what we're calling, uh, the trust score,
which is actually three different scores. Uh, there's the trust score, there's the bot score,
and there's the activity score. And all of this data we basically put together, we share back with,
uh, the community, uh, through a couple of different methods, you can access this data right now.
And the goal is to help you understand who it is that's you interacting with your DAP,
for example, and potentially if you so choose to block out malicious activity or reward people that
are specifically more active than other people.
You mentioned three scores there. Um, how do those scores, like, what do they kind of like look at?
If you, if you don't mind, just briefly, we don't have to go too, uh, into the nitty gritty,
but I'm just curious, you mentioned like, um, activity. I think you mentioned bot and I
didn't catch the third. Uh, the third one is just the, the sort of generalized trust score.
So how, um, trustworthy is this wallet? Okay. Like a blended score. Okay. Um, so the bot score is
basically just our, in our, our estimation of whether or not this, uh, wallet is a bot. Uh,
there are a lot of different ways we can come to that conclusion. Uh, it could be through
them being associated strongly with another network of bots. It could be them, uh, actively trading
within like a very closed circle, just cyclically. Uh, they could be because they're regularly
wash trading things. It could be because of the speed that the wallet operates at. For example,
if it's always buying things, uh, within like a block of them being listed and it isn't our auto
buy feature, then it's probably some other bot somewhere. Uh, there's a lot of different patterns
that can sort of define what a bot is. So those are like a couple of examples of some of the most
common ones, but we have a lot of different, uh, sets of, of actions that can potentially, uh,
lead us to that conclusion. And. Oh, we like to think it's, it's pretty accurate. Uh, the box
piece specifically, um, the activity score is more or less what it sounds like. It's a representation of
how active that specific wallet is on the blockchain in general. So that could be, um,
people that are interacting with contracts on a daily basis to play, uh, whatever their favorite
game may be on wax. It may be that you're actively trading NFTs or tokens, or it could be the exact
opposite of that. And you've been on a hiatus for the last two months and you haven't really done
anything on the blockchain. So it just gives us a way to gauge what your activity is versus what
the other active wallets are like on wax basically. Perfect. That perfectly answers what I, what you're
getting at there. So, um, I, you mentioned, um, you know, looking for, uh, malicious actors or maybe
blocking them. Um, also, you know, obviously bots is a big deal with this. Um, what were some of the
hurdles or big challenges that you guys kind of ran into and overcame while you were developing,
um, while you're developing this? Yeah. So this is, this is a fun question, um, that our data
scientist has talked about a lot in general. Um, but, uh, he, like, I think we mentioned in the
intro as well, has a bit of a background in detecting fraud in other sort of financial systems
and, and, and non-financial systems. But the gist is historically, if you're looking back at how data
scientists often, uh, data science often works in terms of like fraud detection, uh, when you're,
when you have a large set of data, fraud and bad actors are often the outliers. They're not
the common pattern that you often see. Um, and that's like how it has always been historically in,
in, in, in large systems. Fraud is not common and fraud is sort of like the anti pattern to what it
is that you're typically looking at when you have a set of data. Uh, one of the biggest challenges that
we had coming into not just wax, but the blockchain blockchains in general is that fraud suddenly
actually isn't that much of an outlier fraud becomes a significantly more common pattern with,
uh, transactions on blockchains than you would traditionally see in sets of data. So when
it sort of changes how we had to go about, uh, trying to identify these patterns, because we're
not looking for outliers anymore. We're looking for common patterns that define, uh, what fraud is
and that define what bots are and that define what wash trading looks like, because they're a lot
more common on blockchain than they are basically in any other industry.
Well, and then how, so obviously like one of the main benefits is, you know, reducing fraud,
right? Less fraud is better for everybody. Um, but when you're looking at these scores, like,
and you're maybe just a wax collector, how did these, how can you use these scores kind of,
um, let me, sorry, let me try to figure out how I want to phrase this. Um,
what's the most effective way if you're just like a layman, like myself, um, to kind of like
use these scores or make informed, informed decisions. Um, if you're like starting up your
collection, if you're somebody that's collecting, if you're, if you're, um, trying to interact with,
um, different markets, for example, uh, I don't know that the trust score is really going to be
doing that much for you because if you're buying things on chain champs or atomic hub or NFT hive
or NFT blocks, you don't, you only need to trust the website that you're interacting with in those
cases. So you don't need to know who the person that you're buying from is. Um, that's, that's like
the most broad answer I can give you is that if you're just collecting things, you probably don't
need to know it. If you start trading things with people, um, maybe it has a little bit more value
so that you can understand who it is that you're trading with, especially if you're not using,
uh, like the standard trade contract that exists, uh, through atomic assets, uh, sorry, through
atomic, that atomic market often has, or I don't know what other marketplaces support trades off the
top of my head. But if you're not using that sort of standardized approach, it might be worth
knowing who it is a little bit more about who it is that you're interacting with. Um, another case
that we've seen pop up sometimes is, uh, some, some collectors don't want to buy things that have
been, uh, either sometimes stolen from other users or that have been, uh, basically sniped by bots. So
there's a subset of collectors out there that don't want to support and buy things from malicious
actors. So if you're, if you're one of those people having this information could potentially
help you when you're, uh, out there buying or trading NFTs, for example, but assuming that you're
going through like the main channels of like the large marketplaces on wax or the, uh, large, uh,
exchanges on wax, then it's not as important. But if you're starting, if you're, if you care about
those things that I just mentioned, or you're starting your own collection, then it has a lot
more value. Yeah, that totally makes sense. Um, to me, a lot of the community doesn't want to, um,
patronize those bots who are being able to maybe take advantage of some certain sales and stuff
like that. So that makes sense to me. Um, now if I'm a collector, I've, I've read that the trust
scores are now available on chain. So for someone like myself, who's not like, I can't, I don't know
anything about programming. Um, I'm not a, uh, contract developer or anything like that on
blockchain. I have very kind of surface level knowledge. Um, what are kind of the advantages
of having the system on chain rather than solely like relying on connecting to like an API that
you're hosting? Um, yeah. So having it on chain makes it so that anybody can basically go onto
waxblock, uh, and take a look at it. Uh, so you can look up the trust.champs contract and there's
basically a table there where like, admittedly looking at this up, like at the table level
still may not be the easiest thing for everybody to do. But if you know how to do that and you've
done that for other contracts before, then you can just basically go in, type in the wallet
address that you're looking for, and it will either pop up immediately with the scores that
are associated with it, or it won't shove at all, which basically means that it is completely
inactive wallet and it hasn't done anything in the last three months, more or less.
Um, so that's one of the benefits of it just being on change that anybody can go and look
up that data whenever they want to. It still may not be like the easiest thing for a layman
to jump into and navigate, but it's there. Um, it, and it's a lot easier to access than
the other two methods that it's currently available through. Uh, the other two methods that it's
available through right now would be the wax JS library, uh, which a lot of developers use
to handle, uh, wallet interactions on their websites or, uh, it is directly available
through APIs that we, uh, give access to, to projects that want to work with it. Um, there
are sort of different benefits to accessing it in different ways. Uh, on chain, it is updated
the least frequently of all three of the methods. Um, so if you just want to get like a general
view of what they're doing, you look it up on chain, if you want to get like the most
up-to-date data, you would access it one of the other two ways and, uh, doing it through
our APIs has some other benefits as well. Like we have, um, APIs for showing you what wallets
are connected to each other. So if you want to see what our interpretation of, um, what would
be the word for it? Um, basically when you have multiple walls, when multi-accounters,
if you want to identify multi-accounters that are interacting with your project, we have
APIs that basically expose a lot of the underlying data that we use to calculate all of these
scores. So you can get a little bit more insight into, uh, which accounts your DAP is working
with that are also working with other accounts that your DAP may be working with AKA the same
user represented by multiple wallets. Okay, perfect. And you, you said that this
is at, um, if I have the account correct, trust.champs, is that correct? Uh, that sounds
correct. Yeah. I'm just going to type it in as, as you said it to confirm that I'm not
pointing people in the wrong direction, but yes, it's trust.champs. Perfect. All right.
So that's trust.champs. Um, you can check out the contract table there. Um, and that's where
you will go if you want to look up directly on chain. Um, some of this does look like
a little bit more advanced for someone like me. Um, but I know there's plenty of people,
I can see a couple in the audience right now who be able to make heads and tails out of
this very easily. So trust.champs is the account to check out on, uh, waxblock.io, um, to check
out the, uh, the trust, uh, codes on chain, trust scores on chain, excuse me. Perfect.
Okay. This one, wax charts. Um, I just learned about this, um, a couple of days ago, right?
Cause I, I didn't, I didn't see it, um, as, uh, prominently on the site on, uh, chain
champs when I was looking through the marketplace. Um, first off, I know we've been kind of leaning
towards this. Um, what exactly is wax charts, right? We know, I know it's a, it provides visual
representation. Um, how can, maybe how can collectors use these charts, um, to kind of
understand where the NFTs are flowing? Um, yeah, so wax charts was basically the foundation,
some of the, like one of the foundational products that we built that led to us building trust
because we were developing these cool graphs, uh, that provided, we thought a lot of insight
into how collections and accounts were related to each other. And then we turned a bunch of
that data into trust, but wax charts itself serves a completely different purpose from
that at this point in time, uh, which is basically to show you how, um, to, it basically visualizes
how, uh, different projects and ecosystems of wax are related to each other. We wanted to
create something that was useful for either collections, trying to find collections that,
um, sort of shared their users or for users trying to find their next collection that they
may also be interested in. Um, so when I, what, what I mean by that is that if you look at wax
charts and you look up like a specific collection that you may run, for example, you'll see all
of the other collections that users from your collection are also buying and interacting
with. So you might want to like, say, reach out to one of those collections and be like,
Hey, we have a bunch of shared users. Is there something we can do together to, uh, drum up
even more interest in our projects or to reward our shared users, for example, or to just share
those users between our projects. Um, conversely, if you're a collector and you want to have a little
bit more guided insight into, uh, what other projects you might be interested in on wax,
you can effectively use that data to say, Hey, I'm really interested in, in this project. You start
from that node and then you look at what is connected to it. And that data would basically
be showing you what other people that, uh, are collecting that collection might be interested in
as well. So you can sort of follow those lines to the, to see what it is that, uh, you or,
or, or your collection may be, uh, connected to basically and explore from there.
Now I'm looking at the site right now, right? I'm looking at, uh, I've got a collection pulled
up and I see a bunch of different colors. Um, all of these are accounts. Um, is there any
reference of the color or is that just a way to kind of quickly show how big maybe a group,
um, of interacting accounts are? Yes. So if we're looking at the collection page,
uh, specifically, then what happens is the colors basically represent, uh, the strength
of that network. So, uh, you'll generally see that one color is almost always just like all
of the Funko collections because all of those collections have a very, are, are, they're all
interconnected. They're all the people that buy one Funko collection tend to buy a lot of
the other Funko collections as well. So though that, that color sort of represents that portion
of the network. Um, another portion of the network has historically been around Wombat
Dungeon or Alien Worlds, and that will often have its own color over there as well. So all
of the projects that are sort of getting boosts in one of those games or associated with those
games will generally share the same color because a lot of their users and transactions are associated
with that part of the network as well. Um, one thing that we see have, have seen pop
up significantly more recently, uh, is with a game called Twitchy Tide, which was actually like the
third network color that sort of popped up. Uh, they've been doing really well lately and their
project basically created its own independent network that was for like the first time in a year,
I think separate from one of the two large networks that was either like Wombat or Funko.
So it was pretty cool to see, uh, a wax project pop up that, uh, created its own little network in
our graphs. Um, I'm not sure if it's still there today, but it was, it was, there was a pretty solid
third color in there for a while as well. And it may pop up again in the near future. Who knows?
Oh yeah. I would, would not be surprised if it does. Uh, pop Paragon has been on a tear really,
um, I've everywhere I've gone, it's Twitchy Tides on Twitch, um, giveaways and just fun.
And I love seeing all that stuff. So I'm really excited. That's great that they're up there too.
Um, I posted the link, um, if you want to check it, I posted the link at the top of the, uh,
up top of the space there, so you can check out the site. Um, how do you see wax charts kind of
evolving into the future or what care, is there any other features or is it feature complete or is there
something more or is it always kind of under development? Are you always trying to tweak
it and just make it and streamline it? What's next for wax charts?
Um, what's next for wax charts? I think that having some sort of integrations with
trust and making the data more available, uh, through APIs would be one cool thing that we
could do with it because I think that there's a lot of developer centric things that you could
potentially do with that data that people aren't able to do right now. Um, for example, like,
uh, targeting different communities with airdrops and having the data for like where you need to
go to potentially do that in, in, in a, in a positive way rather than just like spamming accounts,
for example. Um, there's a lot of, there's a lot of data there and the future of wax charts would be
making some of that data potentially available. Um, I don't know if there's like too much that we're
going to expand on in terms of like what the charts represent, because I think as they are right now,
they're pretty solid. Uh, they're, they're fun to look at and they convey a lot of information.
The next steps would just be making it more available. And one thing that I should point
out because it may not be entirely obvious if you're using wax charts, but when you're looking
at the collections, you can actually double click on any of the nodes and then it'll show you how the
users are connected to each other within that collection. So you can actually start to see
like, you can actually go and inspect collections to sort of see what the trading patterns look like,
uh, historically with some larger projects like alien worlds, which may have had a decent number
of bots associated with them. You would actually like double click on alien worlds and you would see
this massive like cloud of just like one, one person that was operating like a hundred or 200 different
accounts that were all just trading back and forth. And it would be its own like little network off to
the side and you'd be like, Oh yeah, that's a bot network. You can very clearly see that that's a bot
network going on with this project. So you can actually use it to sort of look at projects and
identify if there is anything shady going on visually pretty quickly. So if you're hopping into a new
project, double click on that, uh, that collections name on wax charts, and you'll get a lot more data
about what the other users are interacting with the projects as well. And what it is that they're
doing, if they're wash trading or doing something else, potentially malicious, or if it just looks
cool, like it, you could click on it and you'd be like, Oh yeah, this looks like a super healthy
project. I want to be a part of this community. It can go either way.
I think the more you look at those charts too, you can almost make quicker decisions of like,
obviously everyone needs to do their own research. There's no advice,
financial advice here, but if you are, if this is something you're using every day and you do it,
exploring and you're, I think you almost get like almost like a sixth sense to kind of tell which,
um, are what's something, how it looks if you want to get into it. And I really do want to echo,
you said it's really interesting to look at. Yeah. It's mesmerizing to move the bubbles around and
just watch them kind of like flow all back together. Um, it's very, very, uh, I want to say soothing
almost or satisfying to watch. Um, thank you, Justin, for giving me some more on wax charts. I know
I've recommended it at least to one other person I know who's interested in looking for bots. So
I'm excited that this is a tool we have now. I posted a tweet at the top talking about drop
watch drop watch. Um, I think I watched and saw in real time, uh, a few Funko drops ago,
I would watch it on Sully's channel. Um, he was kind of, he's kind of showcasing it and
I thought that was kind of kind of bad-ass. So just really quick drop watch. It's a,
it's unique, um, for the wax ecosystem. What inspired you to build it and what were,
what was the, what kind of grievances for collectors were you hoping to solve, um, by building it?
Yeah. Um, I don't know if we were trying to solve any grievances per se, but we were definitely
trying to provide as much data as we could, um, by giving ourselves a little more insight.
And this kind of goes back to what I was saying about why I started chain champs to begin with,
because I wanted to create tools that gave me a better chance to, uh, get cool items and to find
things that were good deals. This stemmed from me wanting to get more insight into specifically at
the time Funko drops so that I could maybe find patterns and catch the next, uh, pack that was
going to resell for, for, uh, for Harry Potter prices. If anybody knows what happened with the
Harry Potter pack packs with Funko, uh, that was sort of the inspiration, but, uh, it's just amazing
to look at data. And if you look at sort of like other aspects of the financial world, you have
all of these cool graphs that exist for people that are trading stocks. For example, there's lots
of data in that market that you can sort of look at live as things are trading, as things are hitting
the, the, uh, the trading room floor with NFTs on wax. We didn't really feel like there was anything
like that at all. So we decided to create this to give ourselves and the communities more insight into
what's actually happening as drops are going on right now. It works specifically for Funko drops in
the future. We hope to expand that to other drops on wax as well. But, uh, you can basically see like
from the second, the drop starts, you can see the packs being bought up basically what this current
like remaining supply is, how many packs are being opened, how many different wallets are participating
in this drop, how many wallets are brand new, for example. So how many, uh, new users did this, this,
uh, drop attract and bring to the Funko ecosystem. You can see how many, how many, uh, packs the top
wallets are holding, which is a very interesting metric to sort of see how many packs people are
hoarding. For example, uh, you can see what number of packs are going to wallets that we've marked as
bots or wallets that we've marked as flippers. Uh, you can see what the secondary market sales are.
And this is actually a really cool one because I think, and if somebody can correct me if I'm wrong,
but there are no other graphs on wax right now that show you the secondary market sales for drop
specific transactions. So if you want to go and see what epics and grails and ultras and legendaries are
selling for and what the market volume on those are, you can go and see that broken down in real time as
well. Um, you can see what collections, uh, other people have previously purchased from. So, uh, back
to the Harry Potter example, you can see how many Harry Potter buyers are shared between, uh, the, the,
I'm looking at the Disney afternoon graph right now, as I speak, and you can see how many, uh,
Batman collectors also bought from the Disney drop. You can see how many stranger things collectors bought
from the Disney drop and you can sort of take this data and do what you want with it to make
significantly more informed decisions when you're buying, if you're, uh, if you're buying for
financially driven reasons, so to speak, or even if you just want to see how quickly you need to get
home before the packs sell out. And if you still have a chance of doing that.
Very, very cool. Um, I think you answered a lot of the next questions I was going to ask,
but I do have a couple of others. Um, let me also, um, invite our audience. If you have questions for
Justin or questions about anything we've talked about today so far, drop watch wax charts, trust score,
or the change chance marketplace, please go ahead and request to speak. Um, I'll bring you on up and, uh,
uh, you can ask your questions. Um, you kind of already talked about like all of the different
features, um, of the drop watch and how all the different graphs is there. You, you mentioned,
um, new wallets, which I think is really, really useful. Um, and you also mentioned how it's mostly
focused right now on Funko drops. Um, sorry, I lost my train of thought. Um, here we go. So you've
also kind of set up this way where you can on a drop that's already finished. Um, you can replay
the drop at different speeds. Is that something, um, that you always wanted to add is that I like
the, I like that you can kind of go back and kind of relive the experience of these drops. I also
really think, um, it's cool how you can adjust what graphs show up here. Um, I like the modularity
of it. If you haven't checked this website out yet, everybody, you check it out. I think I,
it is a posted up here at the top, right? Is that link? Yes, it does. Okay. Perfect.
Awesome. Yeah. Yeah. So what you're the, the replay drop happened because a, um,
I needed to build it when I was testing it because there coincidentally were not always
live drops when I was testing the data and two, because I thought it was really cool to be able
to go back and see what happened while other drops were going on. So like you can go back and see
how many packs were burned in real time. If the drop didn't sell out, for example, that's a really
fun moment where there's just like one bar that shoots up into the air as all of the packs are
burned instantaneously. Um, there's just lots of cool things that you can do with it as well.
So if you want to go and do like retroactive research on drops that may have had patterns
that you're interested in, you can go and see what those patterns looked like when they were happening
live as well, which is potentially interesting information so that you can figure out like
what that, if, if you want to like try to apply patterns to the future and understand how drops
work, uh, you can potentially use like, you can replay past drops to sort of understand what,
uh, that looks like and what you might be looking for in the future.
Um, so yeah, there's, there's just a lot of cool data there. I can't tell everybody how to use it,
take a look at it, play around with it, use it in your own way. There's a lot of things you can do with
it. And there's probably a lot more things that people can come up with than I could imagine myself.
So it's, it's a lot of fun.
Yeah, absolutely. It's definitely, it's enjoyable. It's, it adds almost like another layer,
right. When I, um, I don't get involved with too many Funko drops. I think that's no secret to most
people, but I do enjoy watching, uh, people open packs and it almost adds when you're sitting there
and you're waiting for stuff to happen, you're waiting to open the packs. It gives something
else to kind of look at. Um, if you're a streamer, um, it gives something else to kind of look at and
kind of talk about. And I think it's really, really great. It's great educational piece. Um, I really
think it's, it's very cool.
All right. So that's, that's all the questions I had initially. Um, if you've got questions,
please raise your hand. We'll bring you up to the stage. You can ask your question to Justin here.
Um, in the meanwhile, I do want to kind of point out, there's a couple other features
back on chain champs marketplace. Um, I want to kind of highlight, um, you guys set up a NFT pack opener.
Um, what was kind of the, the, uh, the impetus for that, for setting that up? And is that something
that came as like a side effect of all this other data you were setting up? Or is this something more
that you kind of built on its own, um, to provide something for people to kind of have fun?
Yeah. So I think, so there, there's actually, I think there's two things that,
that are there. One is we actually also support drops and packs and our, our pack contract is
significantly different than, um, a lot of the other pack contracts out there.
Uh, that's way too much to get into right now, but I think we do have a tutorial on it somewhere.
Uh, that should be pretty easy to dig up if you're interested.
Um, but to the point of the pack simulator, um, we had, uh, we built this, this was one of the first
things we ever built and it was a lot of fun. Uh, the point of it was basically just so that you could
like, uh, it, again, it was inspired by Funko drops and it was just so that you could,
before the drops happened. Uh, in some cases you could just go in there and like,
you could see what it would be like to open a pack. So you could like simulate packs and see
how many packs you would need to open on average to like get a legendary or, or get a grail.
And it was just, it was just fun to basically simulate what the randomness looked like and
presenting it in a sort of cool way, uh, reminiscent of like various other packet simulators
I've seen in my life for like other things like Pokemon or magic or, or sports cards.
Um, so it, it, it was pretty cool. It also supported, uh, compact contracts from like
nefty blocks and, uh, atomic hub. So you could sort of use the simulator to simulate live packs as well.
And it would take the contracts into consideration. So if they were like pre-minted pools, or if they
were like, um, only have like a certain number of specific items available, it would update that
data basically in real time as well. So you would only be simulating things that could actually be
pulled from the pool at that point in time. It would look directly at the contracts to figure that out.
As someone who is setting up maybe their own drop, um, and they've got it all set up,
but they haven't opened the drop yet. Would that, would the simulator tool be a good way of almost
maybe checking to see if the odds for different rarities were set up correctly? Could it be used
in that manner? Um, it was, that was something that we were going to add. I don't think we ever
got around to finishing that, unfortunately, but that we had talked about, uh, at length originally,
but it never made it. Okay. Fair enough. Fair enough. Um, okay. Cool. One other thing I saw
was, um, you have a PFP maker, um, that's, um, available on chain. It allows you to take some
different art, add layers. Um, and it's a little bit different than just make it layer it and mint it.
Right. Do you want to talk a little bit about how, um, the, I forget exactly how you, what wording
you use. There's a difference between like an NFT and then the PFP maker. Um, do you want to
let me go into the PFP side a little bit? Yeah. So we made a PFP maker on wax a long time back.
I think it was like well before a bunch of the PFP trays hit and before the sort of
other, other popular, uh, PFP maker hit wax. And we had taken a very different approach initially,
um, driven by the fact that we at the time didn't support drops ourselves. So our PFP maker was designed
in a way to basically just let you make the PFPs. Uh, we provided the hosting for your images on
IPFS. So you would set up your, you would go in, you would set up the layers, you would set up,
uh, what all of the different rules and odds that you wanted for your P you want your PFPs to follow.
You could set like traits based on percentages. You could set traits based on
the total number that you wanted to appear in your set of PFPs. So you could say,
I only want 10 of these traits to exist and I want exactly 10 of them to exist.
So you could do that so that you would get exactly what you wanted. And then you could
basically hit generate. It would spit out, um, uh, file that you could come back to whenever you
wanted. That was basically just an IPFS folder that had all of your, um, images in it. And then it
would also give you some JSON data that you could use to import all of this, all of your PFPs into
other tools or onto, um, other sites. So you would basically get all of your PFPs pre-generated
before, um, you went and put them into a drop before you went and put them into a sale, anything
like that. And you could basically just preview everything so that there, you could confirm that
there were no mistakes. You could confirm that everything looked exactly the way you wanted it
to. And if it didn't, you could just regenerate and try again without having to worry about them
being minted as NFTs yet. And then we also included tools that would do that minting to NFTs for you
once you were happy with them to the Wax blockchain, and then you could take those NFTs and again,
set up a drop wherever you want it. We weren't trying to lock you into, uh, the Chain Champs ecosystem.
You could use the PFP maker and do whatever you wanted with the output to sell your PFPs basically.
Yeah. And that was like another thing I wanted to, it kind of leads to my next question. Um,
it's, it's Chain Champs. It's not Wax Champs. So like there's, there's, uh, definitely like the
startings of multi-chain support there, um, allowing you to like have this kind of, like you said,
like a JSON file where you could take the file and move it to where you want to mint, not necessarily
on Wax if you wanted to. What other chains, um, does, do you support as far as like with the PFP
maker and are there any other integrations of the chains that you're working on? Um, as we're
starting to see, um, a lot of different changes start, we're building on Wax has been building
bridge after bridge here, um, to connect a lot of different chains together. So kind of where,
how does that, how does Chain Champs fit in with that?
Yep. So the PFP maker specifically, we try to make it agnostic as possible. You could go and use it on
basically any chain that supports the JSON formats without basically any changes. Um,
there, you can probably take the data and use it anywhere realistically. Like it's just,
it's images and it's data. You can do what you want with that, but it doesn't need to be chain specific.
Uh, for a lot of the other stuff that Chain Champs is doing, uh, we are supporting data on
Ethereum, on base, on Solana, on Polygon, on Arbitrum, and on Optimism right now.
I believe those are all of the chains that we currently support, uh, with systems like
Trust and some of our other, uh, graph analysis tools. Uh, most of those are not directly available
through the Chain Champs website. You have to reach out to and contact us to get data
for those other networks. But if you're using the Wax bridges right now and you want to see,
uh, some more insights into users that are coming from other chains or projects that are connected to your
project on other chains, uh, that's data that we have and that we can make available to you if
you're interested in it. Awesome. Yeah. That was like one of the things that I was really interested
in. Um, cause I saw that you had it kind of set up like that and I was curious like, where else?
So if you're, um, building a project on other chain, you'd have to reach out to you and see what
kind of options are available. That makes sense. Yeah. And I'm pretty sure we support all of the
bridge networks right now. I don't think there's any bridge that you, that Wax has that we don't currently support.
I'm pitching.
Okay. Let me see here.
Um, I see a question in the comments. Um, correct me if I'm wrong at Chain Champs has, has some of these
tools and stuff that you've kind of built on, um, have those kind of Genesis or got to kickstart a
little bit through wax labs. So wax charts and the PFP maker were both originally funded by wax labs.
Yes. And what was kind of like, um, your experience with that? How did you, how did you go through,
how did you like kind of start with the initial idea submitting it? How was like the experience
there if you'd like to share? Yeah. I mean, I think it was basically just, we had ideas for
these tools that we thought were going to benefit, um, the wax ecosystem a little bit,
and then we put together our proposals and we submitted them. I think one of the key things
with wax labs that we've learned over time is that, uh, it, it, you, you're a lot more likely
to be accepted if you're building something that can be sort of freely used and put out there.
Uh, it's not about, or at least for us, it wasn't about like building features that were going to
bring pain users to change apps. No, they were features that we wanted to put out there so that
people could use and enhance their experience with the wax ecosystem. So when we made the PFP
maker at the time, there were PFP makers on other networks that didn't necessarily gel with wax as well.
So we built the PFP maker through wax labs to sort of help bring wax up to the level that some other
chains were at in terms of like their PFP game. And the wax charts idea derived from the fact that
wax had all of this data that a lot of other chains didn't have. And that would allow us to build some
really cool drafts that provided insight that perhaps at the time wasn't available anywhere else.
I'm actually not even like sure of anything else that looks like wax charts on other chains right now,
but, um, it may still be completely unique, uh, until somebody sends me a link that shows me
someone else doing the same thing. Beautiful. You know, this has been a really interesting
conversation. Um, if no one has any questions, um, I'll go ahead. We can, uh, start the outro and we can
have you maybe share what's the best places for all of our listeners to find all the updates and what's
new and going on with chain champs. Yeah. So I think that the most frequent, frequently updated
place that you can go to is our discord server. Um, that should be linked from the marketplace.
I believe it should be pretty easy to find there. I believe it's on the change site as well. Uh,
probably in the footer. Uh, Nope. I'm going to add it to the footer later today. We recently redesigned
our main website and I've clearly forgotten to put it there. Uh, so I'll get that up later today,
but it should still be available on the marketplace. So if you go to the marketplace,
which is, uh, available at, um, market dot change champs.com, there's also a link to it directly
from the change champs.com website, uh, in the, in the navigation bar, then you'll be able to find
artists, our discord and our Twitter. They're both of those places. You'll find regular updates about
change champs. Perfect. And I will, uh, I'll post a tweet from a Tommy from wax account as well. Um,
after the space, um, so with the discord links, I think, um, I think I'm in there. Um, I'll have to double
check. Perfect. Okay. Is there any other, um, kind of last word you'd like to share with the audience,
um, before we break for today? Um, I think we, we've like really gone through everything
that change champs has to offer. There's so much data there. And I think that everybody
who especially runs a collection would benefit from looking at some of the features that are
available through change champs and wax charts. And if you're not running your own collection and
you're interested in Funko drops or other drops, check out drop watch because there's just so much
fun data there that will give you so much insight into the collections that you wouldn't have had
previously. And it's just, it's just, it's loads of fun. I love watching a lot of drops when they're
going on. It's just interesting to see how, how much the ecosystem thrives when there's drops going
on that people are excited about. Yeah, absolutely. All right, everybody, that is
chain champs.com, um, for the market, uh, for wax drops for drop watch. Um, I posted the link
directly for a wax charts right here at the top of the space, wax charts.com. And remember, you can go
to trust dot champs contract on waxblock.io to check out the trust scores on chain. Uh, Justin,
thank you so much for taking the time out of your day today, uh, to join us and give us the lowdown
on everything, um, you guys have been building and it's, it's been like non-stop building with all
this, all this data and everything to look at. It's been a real pleasure. Thank you so much.
Thanks for having me. It was great.
Have I been muted this whole time?
Awesome. Um, well, thank you, Justin, so much, um, for, um, everything you said today and for
taking the time to spend with us. Um, and then also thank you everyone, um, who joined us today,
whether you're listening live right now or catching the replay later on, I want to thank you so much for
tuning in and spending a little bit of your Wednesday with us. Next week, I will be back again,
and I'll be joined by the illustrious ghost camp. Uh, we'll be chatting about art, creating,
and a little bit more, but if you are here, stick around. Um, the wax drop space is streaming here
on X and Twitch in just a moment. Um, they will be, uh, talking about some news and going over drops
and everything else that's going on with the, uh, wax drop, uh, wax drop space. So stick around.
Um, I hope you all have a happy wax Wednesday, wax blockchain, and try to stay out of the heat,
stay hydrated. I'll see you next time.
