In the well-known The Visual Display of Quantitative Information, the statistician Edward Tufte suggests that: “What is to be sought in designs for the display of information is the clear portrayal of complexity. Not the complication of the simple; rather, the task of the designer is to give visual access to the subtle and the difficult….”
Bubblemaps could very well be a case study forTufte. Collecting vast amounts of wallet data and presenting it in a pleasing and interactive format, Bubble Maps is an essential utility in every Fantom ecosystem trader’s toolkit.
1. What is Bubblemaps?
Bubblemaps makes blockchain data transparent, accessible, and playful.
We aim to substitute traditional block explorers, allowing users to analyze complex patterns and connections easily. Through cutting-edge visuals, we are disrupting crypto research and due diligence, bringing fundamental data to millions of DeFi users.
Multiple blockchains endorse our tool to enhance their security standards. Most notably, we partnered with Fantom, Avalanche, and Cronos. Our iframes have been natively integrated on leading DeFi platforms like Gemxyz, DEX Screener, and DEX Tools.
We have just completed the Cronos Accelerator Program (by crypto.com) and are looking to fundraise in December 2022.
2. How did Bubblemaps evolve?
Bubblemaps evolved through a mutual understanding that blockchain data needs further expansion and ease to onboard the next million DeFi users.
3. What is your background?
I studied marketing, from which I have worked with a number of token launches. I started in early 2020 and have since become a founding member of Bubblemaps.
4. What can you do with Bubblemaps?
Bubblemaps represents wallets as bubbles in a two-dimensional space. When ETH or BNB is transferred between those wallets, their bubbles get linked together.
Applying this vision to tokens and NFT collections is powerful: users can see mutual connections between holders and evaluate a token’s distribution.
5. What are the use cases for Bubblemaps?
Our tool has successfully detected wallet-splitting and wash trading activities on many tokens across multiple chains. Venture capital funds use Bubblemaps for their due diligence needs and to track the competition.
Token owners can see their distribution in a brand-new light, and best understand the behavior of their community. As we implement new features such as Historical Bubblemaps, we aim to substitute all standard functions from block explorers.
6. Can you walk us through an analysis of a token?
In October 2021, a popular BSC token called BabyCare started to trend on CoinMarketCap. Bubblemaps revealed that 40 connected wallets cumulatively held 25% of the supply, forming a complex yellow cluster.
In the screenshot below, each bubble is a holder, and links between those bubbles are BNB transfers.
We immediately notified our community that we suspected wallet-splitting (spreading large amounts of tokens into multiple wallets to lure investors). Three days later, $400k were sold at once through those wallets - the team deleted their socials and was never seen again.
7. How did you learn about Fantom?
I learned about Fantom through market research in early 2020, as the Ethereum killer narrative was very strong.
8. What brought you to Fantom?
As one of the biggest EVM chains, we believed the FTM community would benefit from such a tool like Bubblemaps.
We want to democratize due diligence for all Fantom users by rearranging on-chain data, making research playful, easy to understand, and accessible.
Blockchains generate a constant stream of data. Understanding this information requires a comprehensive set of skills and the appropriate tools. Unfortunately, available services are beyond the reach of most investors, as they appeal to a technical user base.
9. How is your experience working on Fantom?
The Fantom team has been amazing, giving us all the support we need to efficiently build on their chain: podcast, network with popular Fantom tokens, regular tweets, and more! It’s the best experience we’ve had so far working with a popular blockchain.
10. What has the community response to Bubblemaps been like?
The response has been great from both sides:
- We’ve seen a number of FTM tokens reaching out to see their own bubble map and understand their holders better. As a result, around 40 tokens have been listed on the Fantom section
- Our user base has increased significantly, and a good fraction uses the Fantom section. Our last report shows that 15% of tokens searched are from Fantom.
11. What’s coming up for you? Free alpha!
Bubblemaps is meant to be a solid alternative to traditional block explorers.
We’ll soon be adding a dedicated NFT section. Beyond this, our product roadmap is ambitious, with Historical Bubblemaps planned for Q1/Q2 2023, allowing for easy access to past blockchain data and in-depth investigations.
We expect our Smart Reporting function to be available in Q3/Q4 2023, providing insights to token owners about their community and the demographic of their holders. We remain flexible to accommodate new uses, such as emerging blockchains and token standards.
12. What are your thoughts on crypto adoption?
It’s easy to forget that only 5% of crypto users are on DeFi (around 5M users). This is small considering the hype surrounding DeFi, funding from Venture Capital, and billions in TVL on various chains. However, we’re confident this ratio will increase as DeFi becomes a prominent force.
We’ve seen a successful couple of years in bridging crypto to the masses, bringing fresh ideas and start-ups to the game, and increasing the scalability of Web3. We can't wait to see what the next few years hold; it's an incredibly exciting time