Introduction

Intro to Tokemak

What is Tokemak? Tokemak is a novel protocol designed to generate deep, sustainable liquidity for DeFi and future tokenized applications that will arise throughout the growth and evolution of web3. It can be thought of as a decentralized market making platform and a liquidity router that disaggregates traditional liquidity provision and market making for DeFi. Sitting a "layer above" decentralized exchanges, Tokemak allows for control over where the liquidity flows, and also offers an easier, cheaper way for providing and sourcing liquidity.

Objective

Identify the top holders of the TOKE token in January 2022, have they kept their position today?

Methodology

To identify the top holders of toke tokens on January 2022, we use the flipside_prod_db.ethereum.erc20_balances to get the balance as of on jan 31 2022. For the latest holders, we identify the top holders on current date. The contract address for toke coin is 0x2e9d63788249371f1DFC918a52f8d799F4a38C94.

Analysis

We start of by looking at the position of the top 10 holders.

We notice that the top 5 holders are still big players and feature among the top 10. Hence there is no large change in the ranking.

We now look at the change in toke balance of the top 10 holders.

It appears that two addresses in particular had a huge change in balance. Addresses ('0x8b4334d4812c530574bd4f2763fcd22de94a969b','0x96f98ed74639689c3a11daf38ef86e59f43417d3'). While one seems to have acquired/gained by a huge margin, the other seems to have lost/sold by a huge margin. Surprisingly they still end up in the top 2 position even before and after the period.

Analysis of top 2

We now dive deep into the balance history of the 2 addresses.

This seems surprising, both the accounts/addresses had a huge change on a single day. on March 13 2022. As this is so peculiar, we look at the transactions leading up to these days. Was this because of a market condition ?

Analysing trxn of top 2 holders

We now look at the trxn leading up to march 13 2022. the day both addresses witnessed a huge change in balance.

Well, it appears that both the addresses are connected. Because the top holder (0x8b4334d4812c530574bd4f2763fcd22de94a969b) appears to have transferred the balance to the 2nd top holder (0x96f98ed74639689c3a11daf38ef86e59f43417d3) through a third address 0x9e0bce7ec474b481492610eb9dd5d69eb03718d5.

On digging deeper, it is understood that

• 0x8b4334d4812c530574bd4f2763fcd22de94a969b is the treasury address
• 0x96f98ed74639689c3a11daf38ef86e59f43417d3 is the deposit address
• 0x9e0bce7ec474b481492610eb9dd5d69eb03718d5 is the tokemak contract deployer