Arkham Intelligence launches an on-chain data trading platform

What’s new? On July 10, analytics company Arkham Intelligence launched Arkham Intel Exchange, a platform that allows buying and selling on-chain data on cryptocurrency transactions. The platform will issue its own token ARKM, which will be used to manage and pay rewards for the information found. Its launch will take place on Binance Launchpad, with 50 million coins for sale or 5% of the total supply. Each user will be able to buy $15 000 worth of ARKM between July 11 and July 17.

Information on the Arkham website

How does the platform work? The Arkham team notes that it was prompted to create the platform by two key trends observed in the field of on-chain data analysis. For example, the demand from traders, investors, journalists, and others who are not experienced in such analysis has increased significantly. On the other hand, the crypto community has seen the emergence of many talented on-chain data researchers who were previously unable to monetize their skills.

Arkham Intel Exchange allows anyone to publish a request for specific on-chain data by locking in a corresponding amount of remuneration. Performers can find and provide information in exchange for promised payments.

For example, requests can be submitted on the site to find wallet addresses of hedge funds and crypto projects, or to identify the true identity of a person posing as a famous person. The project will also allow hacking victims to unite to find information on the hacker, and trading firms to buy back their own wallet data before a competitor discovers it.

Any information bought or sold on Intel Exchange is subject to an exclusive 90-day period, during which only users who have funded the payments (after they have been verified by the Arkham Foundation) are granted access to the material.

Crypto hacking broke records last year, with billions of dollars worth of digital assets stolen from cross-chain bridges, decentralized finance (DeFi) protocols, and exchanges. Arkham’s initiative aims to combat exploits by stimulating research on the network.

In response, privacy advocates have criticized the project. For example, a crypto trader under the nickname VipRoseTr stated that “I cannot provide information or support for services that involve the buying and selling of personal information or data.”

Announcing The World’s First On-Chain Intelligence ExchangeBuy and sell information on the owner of any blockchain wallet address—anonymously, via smart contract. pic.twitter.com/4xr7dLvOjp— Arkham (@ArkhamIntel) July 10, 2023

According to Binance, Arkham has raised more than $10 million in two rounds of funding. Investors included Tim Draper, Bedrock Capital, Bedrock Capital, Wintermute Trading, GSR Markets, and co-founders Palantir and OpenAI. Token sales will receive 5%, core participants will receive 20%, investors will receive 17,5%, and the fund’s treasury will receive 17,2%.