Arkham airdrop analysis – The Cryptonomist

Let’s look at some statistics about the distribution of these signs

In this article, we will discuss the Arkham Intelligence project and the ARKM token airdrop that took place on July 18, for the benefit of all early adopters of the project.

We look at some statistics on the distribution of these tokens, analyze what the main eligibility criteria were, and find out which addresses received the most money from this event.

All the details below.

What is Arkham Intelligence?

Arkham Intelligence is a blockchain analytics platform that allows users to track transactions taking place in the crypto world by inspecting addresses and investigating remote connections.

On the interface side, Arkham works similarly to other blockchain tracking platforms like Debank: just paste an address, token or hash of a transaction you want to analyze into the search bar to get additional information.

In detail, the platform allows users to perform numerous searches, such as analyzing the balance and history of a wallet, tracking specific entities, studying the flow of certain tokens and their respective top holders, and other customized queries .

Recently, thanks to Arkham, it was possible to quickly identify moves made by Celsius liquidators to the FalconX exchange to sell LINK, MATIC, AAVE and SNX crypto assets.

Arkham differentiates itself from competitors by using an artificial intelligence system that combines on-chain and off-chain data, and synthesizes it all through a single source of truth.

Within the platform there is data for 350 million addresses and 200 thousand entities, all of which are accessible completely free of charge.

Another very interesting new feature is the “Intel Exchange” function, which serves as a marketplace where blockchain data can be independently bought and sold via smart contracts: anyone can create a reward for a specific search to be performed, and users can apply to get the job done.

For example, 100k ARKM tokens, equivalent to about $60,000, were offered to anyone who could discover the identity of the hacker involved in the $415 million mining on the FTX exchange just days after it declared bankruptcy.

In recent months, the company secured a funding round of $12 million, led by private investors such as Sam Altman, Tim Draper, Geoff Lewis and Peter Thiel, as well as companies Coinbase and Digital Currency group.

On July 18, the ARKM token went live, distributed among early adopters of the platform as a reward for support in the early phase of the project.

In the following paragraphs we will go over all the details about this airdrop

All the data about Arkham’s airdrop

The Arkham airdrop took place on Tuesday, July 18 and allowed more than 60 thousand individuals to claim the long-awaited ARKM token.

The snapshot was taken by the project team on July 8th, complete with anti-sibilance mechanisms to prevent malicious users from receiving multiple airdrops.

All active users who performed various actions within the platform, such as exploring the features present, tracing the chain movements of tokens and inviting new users via invitation, were rewarded.

The latter factor was probably the most decisive, therefore those who shot Arkham the most within their network received a good allocation of tokens.

All actions taken over the previous months were quantified by a score, which at the time of the airdrop announcement was converted into tokens that could be withdrawn.

In total, 7% of the crypto supply, which totals 100 million units, has been allocated to community incentives: currently 30 million ARKM have been allocated in the first phase of the airdrop, of which 28 million have already been withdrawn by users.

A total of $18.4 million was given away (according to prices at the time of writing), for an average of $285 per user.

According to data from Dune Analytics, most of the community received a prize of less than 200 ARKM, while only 154 addresses got more than 10K ARKM: of these only 5 lucky individuals took home more than 100K ARKM.

The most interesting of these is that participating in this airdrop was completely free! There was no need to transact, pay fees, deposit cash, etc.

It’s possible that new rewards will be unlocked for major contributors to the project in the future, but the Arkham team’s plans are currently unknown.

The airdrop was accompanied by a launchpad on Binance and listing on the same exchange and other crypto trading platforms.

Given the hype and attention in the market, the cryptocurrency exploded on the first day of trading, reaching a price of $0.89, only to start a slight pullback in the following days.

Airdrop Arkham: the addresses that received the most tokens

In this section, we analyze the 3 addresses that received the most ARKM tokens in the Arkham airdrop.

Since the blockchain is a public utility, we can sift through the various transactions on the chain to determine with absolute certainty which claimants have acquired the most cryptocurrencies.

The first address acquired a whopping 249,353 ARKM, equivalent to over $180,000 at the time of the first hour of trading on Binance.

On the exchange, the first candle of trading closed at 15:00 (CET) time with a price of $0.75.

The user who received the large amount of tokens chose to sell most of the proceeds on decentralized platforms before they were listed by Binance.

In doing so, he sold 200k ARKM at a price of around $0.65 for a total of 69 ETH, in addition to making 3 other small sales for an additional 14 ETH.

At this time, he still holds 9,353 ARKM with a counter value of $5,500.

The second highest allocated address in the Arkham airdrop was allocated 246,391 ARKM.

In this case, the individual wisely chose to transfer the entire supply to Binance, to take advantage of a higher exchange price.

We cannot know if all the tokens were sold in the market, but that is presumably what happened.

In fact, those who transfer assets to CEX usually do so to sell, otherwise they would have left their assets in a proprietary non-custodial wallet.

As it is advisable to do when sending a large sum of money in crypto, the individual made a test deposit to avoid mistakes.

The third address with the highest number of tokens in rewards got 189,828 ARKM.

As in the previous case, the user decided to send the full amount to the Binance exchange, but still arrived slightly late since the deposit was made when the doors to crypto trading opened.

So it is likely that given the waiting time on the Ethereum network for sending ERC-20 tokens, he could not sell the loot at the most advantageous price recorded at that time.

Regardless, the individual still managed to earn an indicative amount of over $140,000.