Analysis States How Arkham Differs from Other Analytic Platforms

Arkham Binance IEO introduces Arkham, a free data analysis platform, revolutionizing crypto analytics with token economics and unique features.

Data analytic firm Arkham recently launched an Initial Exchange Offering (IEO) via the Binance Launchpad program. The project, which has caught the attention of crypto enthusiasts, is said to be a free rendition of the well-known Nansen intelligence platform. 

Prominent Chinese reporter Colin Wu took to Twitter to share the information, offering more profound insight into what the Binance IEO project Arkham entails. 

Who is Binance New IEO Project Arkham?

A Free Data Analysis Tool Similar to Nansen, Exploring Tokenized Business Models. Comparison with other crypto data tools.

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— Wu Blockchain (@WuBlockchain) July 17, 2023

Wu first argued that data analysis platforms in the crypto space are divisible into two categories: fully open platforms and packaged data services. Arkham falls into the second category, providing predetermined definitions for queries. 

Meanwhile, fully open platforms, including Dune Analytics, Flipside, and Footprint Analytics, allow users to define their parameters while supporting more public chains. However, Arkham and Nansen offer less supported chains. For example, while Footprint supports 27, Arkham supports eight. 

Arkham Functionality Compared

Regarding functionality, Wu noted that Nansen is the most all-encompassing platform as it can provide insights into changes in Smart Money holdings, the ins and outs of centralized exchanges and decentralized exchanges, and individual inflows and outflows of stablecoins. 

While Nansen offers comprehensive features, Arkham focuses more on individual address and entity situations. It stands out with its unique archive function, allowing users to view historical investment portfolios and graphs at specific points in time while being a free platform. Notably, Arkham does not support NFT data analysis, unlike its competitors.

Arkham Problem Statement

However, according to Wu, most platforms offering data packaging services follow a paid membership model, similar to traditional Web2 platforms. The platforms only provide limited features for free trials and differentiate their services based on various payment plans. 

The Chinese reporter noted that the high pricing often deterred average crypto investors. For instance, Nansen has three payment tiers ranging from $150 to $3000 a month. At the same time, Watchers provide more features to free users, charging $198 and $2000 per month, with custom payment plans also available.

Arkham Solution to Free Business Model

However, Arkham seeks to break the mold by integrating token economics into its platform, offering an alternative path for business exploration. The key objective is to create token consumption scenarios and demand based on the core functionality of data analysis. 

Wu highlighted that Arkham had introduced the Intel Exchange, a vital platform connecting on-chain data analysts with regular users to achieve its objective. The daily usage scenario of the Intel Exchange mirrors how on-chain detective ZachXBT assists regular users in identifying scams and recovering defrauded funds through on-chain data analysis on Twitter.

While ZachXBT offers free help driven by sound moral principles without expecting anything in return, finding another person willing to provide such assistance free of charge is near impossible, Wu asserted.

Meanwhile, Arkham plays a crucial role by enabling experts with exceptional on-chain analysis skills to monetize their knowledge. Any intelligence derived from on-chain information can be utilized for trading purposes. 

Users can pay for valuable information from data analysts using ARKM. Buyers can offer rewards, and sellers can participate in auctions. To sustain the platform’s long-term operation, Arkham charges a 2.5% maker fee for listing and auction payments and a 5% taker fee for reward payments and successful auction bids.