Hey there Explorer!
My name is Dan and in this video I will introduce you to our Token God Mode dashboards.
Hopefully by the end you will have gained a better understanding of the various Dashboards covering in particular, the following elements:
- Token Distribution
So let’s begin by setting the scene. Let’s say we read some interesting stuff about Looksrare and want to investigate it further to decide whether to potentially take a position.
This is the second step in our journey, so after discovering a token, in this instance Looksrare, you would then perform due diligence to take a deeper look at it using Token God Mode.
Ok, first off lets login to Pro.nansen.ai and select Token god mode from the menu on the left, we then type in the name of our token (looksrare) and then select show token summary.
Transactions (3 minutes)
Upon opening the Token God Mode we can see the Transactions tab and the token core trading metrics at the very top: this includes:
- Token name, current price, fully diluted valuation, historic price with volume - you can find them (almost) anywhere so I won’t dive too deep into those.
- Deployment date can be useful in various situations, but we primarily use it as sanity check if I am looking at the right token or something fishy might be going on. Looksrare has been around for some time, so if the token would have been deployed 3 weeks ago something is likely wrong.
- Weekly DEX trades gives you a feeling of how much activity there is around the token, which are the most used DEXs and how “hot” the token currently is and, in conjunction with volume, you can also make estimates for average trade size.
- Latest DEX trades is pretty much self explanatory, but what is special about this dashboard is that it aggregates over several pools and DEXs and you get our labels for the counterparties. For the people with VIP or Alpha subscriptions, you can drill down on time frames, trade sizes, price ranges and more using the filter. We can use this Dashboard to see who bought or sold and if there are any large players involved which know something we don’t. This can be especially useful around big price movements. Some more complicated swaps however cannot be traced back perfectly to the initiator, e.g. some trades through 0x, so clicking on the transaction on Etherscan and getting the initiator address from there might be required some times. This is usually the case when the counter party is not a “normal” wallet, but a smart contract as indicated by the robot emoji, or an institution as indicated by the bank emoji. You can plug this address e.g. in the Nansen Wallet Profiler to see our corresponding labels.
- Top Transactions includes the transactions which are NOT DEX trades, like address to address transfers or staking / unstaking. Again, looking at the Etherscan link can reveal more about the transaction. Again, the emojis can give you a first hint, banks for institutions, robots for smart contracts. This is for example a large staking transaction. That dashboard can reveal information about big holders staking / unstaking, sending large amounts to centralized exchanges, big allocations vesting etc. which can indicate intentions of the involved parties to hold on to the token long term - or not.
Token Distribution (2 min)
Heading to the token distribution tab, you can investigate where all the tokens are:
- Starting off with the smart money holdings over time, including number of wallets and number of tokens, gives you a feeling of how “smart” investors have been feeling about the token, without going too much into detail who exactly the addresses involve.
- These details can be investigated in the Top Balances dashboard, probably one the dashboards used the most within token god mode. This shows you where all the tokens are actually at, including team wallets, liquidity pools, centralized exchanges, staking contracts, largest holders and much more. This can reveal staking and farming opportunities, large wallets to be aware of, liquidity depth, early investor wallets when digging into the interactions with vesting contracts etc. For the VIP and Alpha users, the filter function again is very useful here as you can search for addresses getting their first tokens during a specific timeframe or even specifically look for smart money addresses such as funds, using the “smart money emoji” in the filter.
- Balance Changes (Last 7 days) is a sorted subset of the previous dashboard for better readability. For example looking at the largest changes for non-smart contracts / institutions could give you large buyers / sellers.
- Further down you can see the balances of the top addresses as well as token seniority distribution, showing you when most tokens were acquired (and indirectly at which prices) as well as unique addresses for token which can be used to approximate the decentralization of the token.
Exchanges (1 min)
Finally, the Exchanges tab mostly provides information about the liquidity of the token, for example, directly via tokens on exchanges and top exchanges, or indirectly via the percentage of the total supply on exchanges or Exchanges vs DEX Traders. This shows us what part of all tokens are in the wallets of traders vs as liquidity on exchanges.
This tab furthermore lets you drill down into the flows from / to exchanges in Addresses Depositing/Withdrawing To/From Exchanges as well as the transactions involving tagged wallets of exchanges in Top Exchange Transactions (Last 7 days). Here you can see large deposits to/from exchanges, people sending tokens from CEX to CEX or sometimes even spot preparations for a listing.
So there we have it, we have covered Token God Mode and focused on, in particular:
- Token Distribution
This concludes our quick tour of the Token God Mode, one of our favourite Nansen features. I hope you had fun and got a sense on how to use this powerful feature. Thanks for watching. Please don't forget to hit subscribe on Nansen's YouTube channel to get notifications of new videos and when our office hours go live!