- Proposed: KLAY worth USD 256,000
As the great success of Klaytn blockchain, the variety of blockchain applications(Bapps) provide
their services on Klaytn token economies. KLAYSwap, the most representative case of them,
has announced the swap protocol for Klaytn DeFi and built their own ecosystem named KSP
tokenomics based on the Klaytn token economy. It is continuously growing the number of token
economies of Klaytn and the volume of their transactions. This means that the token economies
are not the tiny parts of the blockchain network anymore, and we need to consider that the
tracking of token-related assets is essential to trace all financial transactions of the blockchain
without any exception.
We have presented the high-performance development environment for the on-chain analysis of
Klaytn mainnet in the previous project. Above and beyond that, we implement an analysis
framework for Klaytn token transactions and release public web services to deploy such
analysis frameworks. Our main goal for this project is providing a set of web applications to any
one of the users to inspect the Klaytn mainnet transactions and token transfer flows for any
purpose. Through the public web service we would support, the user could retrieve the transfer
flows of all tokens and even refers to the mainnet transactions over the token economies.
In addition, we design the system to find abnormal transactions of the blockchain network. As
some prioning studies, the majority of abnormal transactions of Ethereum blockchain was
conducted by exploiting the vulnerabilities on token contracts. Also, common money laundering
services use some token swap protocols to wash the black money. In this project, we first
carefully scrutinize those kinds of well-known abnormalities of several cryptocurrencies and try
to patternize their transaction behaviors. Then, we would look for the similarities and differences
between those patterns and existing Klaytn token transactions.
We plan to publish an open web service to any of users have interested in the analysis
of Klaytn blockchain network. Our web service would include two main analysis
regions(i.e., cypress and token economies) and each region has several functionalities (You can see the details at the proposals)
The technical reports we would publish include kinds of research materials about token
economies and web application specifications to refer Klaytn blockchain data for analysis
purposes. To achieve the goals of this project, we design the system architecture
specialized for the analysis of token economies. Basically, the system consists of a
graph database and an analysis engine and these are quite different from the analysis
system of other domains, even Klaytn mainnet.
For instance, in the mainnet, there is only a huge single transaction graph with klay
transactions. However, the token transfer graph consists of multi graphs with several
token types. Also, token transfers triggered by a mutual transaction could have the same
transaction hash value with different indexes in contrast to each mainnet transaction
having a unique hash value. The details about our system including those kinds of
design considerations are described in the technical reports.