Galxe on Arbitrum
Galxe is the world's largest network of Web 3 credential data and digital records. This dashboard analyzes the performance of Galxe on the Arbitrum chain by evaluating the activities of users on the platform and the impact of Galxe on the Arbitrum network.
Our daily activities generate credentials, and our Web2 behavioral data is used to determine these credentials. Companies such as Google and Facebook use algorithms on this data to send targeted advertisements. Credentials are crucial because they offer numerous use cases, including the calculation of credit scores, identifying target audiences, and rewarding community contributors. Web3 and DAOs will result in an influx of behavioral data from new users, making it necessary to have an infrastructure that allows them to build digital credentials. Unfortunately, credential data is currently fragmented and dispersed across closed databases that are controlled by applications, financial institutions, credit organizations, and government entities. As a result, the landscape is fragmented and inaccessible to individuals who should have ownership of their data and to the applications that require it. To address this issue, Galxe is developing an open and collaborative credential data network that empowers Web3 developers to leverage credential data to create more engaging communities and build better products.
🔵 What is Galxe?
Galxe is a credential data network infrastructure that facilitates collaboration among developers, brands, and communities in the Web3 ecosystem. As a leading network, it offers an open and accessible platform where developers can leverage credential data to build better products and communities. Data curators also contribute to the platform by providing valuable credential data and are rewarded when their contributions are utilized. By building a collaborative and open credential data network, Galxe promotes a more secure and trustworthy Web3 ecosystem that benefits all stakeholders.
🔵 What is Arbitrum?
Arbitrum is a Layer 2 scaling solution for Ethereum, developed by Offchain Labs. It is designed to improve the scalability and efficiency of Ethereum-based decentralized applications (dApps) by enabling off-chain computations and reducing gas fees.
Arbitrum uses a technique called Optimistic Rollup, which allows it to batch multiple transactions into a single transaction, thereby reducing the number of transactions that need to be processed on the Ethereum mainnet. This results in faster transaction times and lower gas fees.
One of the key features of Arbitrum is its ability to maintain compatibility with the Ethereum Virtual Machine (EVM), which means that dApps built on Ethereum can easily migrate to Arbitrum without the need for major code changes.
Arbitrum also offers a developer-friendly toolset that includes a Solidity compiler, a debugging tool, and a local testing environment. This makes it easier for developers to build and test dApps on the platform.
Overall, Arbitrum is a promising Layer 2 solution that has the potential to significantly improve the scalability and usability of Ethereum-based dApps, and help to address some of the scaling challenges currently facing the Ethereum network.
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🧠Purposes of Dashboard
Galxe is the world's largest network of Web 3 credential data and digital records. It helps Web 3 projects and developers build better products and communities using credential data. The Galxe platform supports many blockchains. This dashboard analyzes the performance of Galxe on the Arbitrum chain by evaluating the activities of users on the platform and the impact of Galxe on the Arbitrum network. The "Trend Analysis" section evaluates the following metrics:
- Total Number of NFTs Minted
- Total Number of Unique Minters
- Total Number of Collections Minted
- Total Number of Minting Transactions
- Average TX Fee per Mint
- Total Fees Generated
- Number of Minting Transactions per Day
- Number of NFTs Minted & Minters per Day
- Number of Collection Minted per Day
- Number of New Minters
- Total Fees Generated by Galxe per Day
- Statistical Data about above metrics
The second part of this report explores the Galxe platform data on the Arbitrum chain in greater detail. This section analyzes the following metrics:
Part.1. Top Collections
- Top 5 collections with the most NFTs minted in one transaction
- Top 10 Collections with thw Most NFT Minted
- Top 10 Collections with the Most Number of Unique Minters
- Top 10 Collection with the most Minting Transactions Count
Part.2. Has Arbitrum been affected by Galxe activities?
- Number of Minting Transactions Based on Collection
- Number of NFT Minters Based on Collections
- Ratio of Galxe Users to Total Arbitrum Users
- Ratio of Minting Transactions to Total Arbitrum Transactions
- Average Arbitrum Transaction Fees per Day
Part.3. Top NFT Minters
- Top NFT Minters with the Most Minting Transactions Count
- Top NFT Minters Based on the Number of Minted Collections
- Top NFT Minters Based on the Number of Minted NFTs
- Top NFT Minters Based on the Number of Days of Activity
- Top 10 Galxe Users
Part.4. Distribution of NFT Minters
- Distribution of Users Based on the Minting Count
- Distribution of Users Based on the Number of NFTs Minted
- Distribution of Users Based on the Collections Count
🧱 Methodology
In this dashboard, we used the arbitrum.core.fact_event_logs
table to find Galxe platform minting transactions on Arbitrum. We set origin_to_addres equal
to "Galxe contract: NFT Space Station" (0x9e6ef7f75ad88d4edb4c9925c94b769c5b0d6281
), on the other hand, we also considered condition Event_name='Transfer'
and tx_status='SUCCESS'
. Likewise, we used Table arbitrum.core.fact_transactions
to extract data related to Galxe transaction fees. In identifying the top users of Galxe, we first ranked the users in terms of the number of minting transactions(RANK() OVER (ORDER BY count(distinct tx_hash) DESC) as "Minting_TXs_Rank"
), the number of minted NFTs(RANK() OVER (ORDER BY count(EVENT_INPUTS:tokenId) DESC) as "NFTs_Rank"
), the number of minted collections(RANK() OVER (ORDER BY count(distinct contract_address) DESC) as "Collections_Rank"
) and the number of days of their activity in Galxe(RANK() OVER (ORDER BY count(distinct block_timestamp::date) DESC)
), Then we summed the ranks obtained by each address together("Minting_TXs_Rank"+"Collections_Rank"+"NFTs_Rank"+"Days_Rank"
). A user who has a lower sum of rankings will be ranked higher in the final ranking compared to other users.(RANK() OVER (ORDER BY ("Minting_TXs_Rank"+"Collections_Rank"+"NFTs_Rank"+"Days_Rank") asc)
)
🔔 All data is from late May 2022 onwards.
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