Zapper: connecting the dots and surfacing onchain activity

Transcript

[Music] thank you all right oh GM everyone thank you for joining me today um I wanted to talk about on-chain literacy and what we have been building recently at zebber so let's start with a little definition about what is on chain literacy so it basically means the ability to read and browse data and processes that occur on the blockchain as well as the ability to interact with it but in plain simple words it also means what the is happening on chain

so why is on chain literacy so important for us at zapper well first of all we believe that there is no future where crypto succeeds where the masses are not on chain so we're hoping for less usage of centralized exchanges less Reliance on centralized exchanges and so just users interacting daily with the chain so for you to be able to live on chain and interact with it on a daily basis you need to be able to see what is happening but also understand what is happening and another really important point for us is to level the playing field what I mean by that is there's a huge gap right now in the knowledge and how some users in the ecosystem have a good knowledge of the

blockchain read it really well so they're able to get the alpha before everyone else be able to make very advantageous financial decisions before everyone else and so we believe that by increasing untrained literacy we'll be able to close this Gap and so that everyone will be able to get the alpha so you don't need to be a tech savvy person or a shadowy supercoder or be part of a very private telegram fancy group to be able to get that Alpha you should be able to just read the chain like everyone else and just get that information from there so there's a really good transition that

is happening from online to on chain right now where the users are now able to see what is happening behind closed doors all thanks to the blockchain so you get to see everything at all times forever registered so we want to provide those glasses those on chain glasses that let you see and read what is happening without having those technical skills so let's take a look at the current state of on-chain literacy right now as it is today there's a lot of terms that are really hard to grasp for newcomers so not only were expecting the users to launch a bunch of new words a bunch of new ways of interactions we're also pressing them to start interacting with the chain very

quickly which is great they learn and they do mistakes very it's not often that we ask the users to actually understand the chain read it and try to make a sense of it at least that has been my experience and so on-chain experience is very fragmented right now where we're porting we're taking our understanding of web 2 and we're porting it into web3 this has been covered like widely how we're thinking of the chain as a very siled experience so you go on openc you check out your nfts you go on a Dap website you do some Investments then you go maybe on another website and you cast a vote in a dow and so all of those are

very siled and different where instead we should see this as a full Journey full user Journey where you're doing some stuff in the city going from door to door and has to be fun and Interactive and so because reading the chain has such a high barrier to entry we tend to rely on third parties so most of us are on Twitter we believe that the alpha is on Twitter we're trying to find who we should be following who has the latest news or maybe some cool telegram channels that people are adding us so this is where the alpha is and so we're relying on this instead of relying on the chain so there's all of those new words new jargon new user experiences but also new

ways of interacting with the data and the information and all of those new things feel very complex but it shouldn't be be complex it should be easy should be transparent just how the ecosystem wants it to be and so it shouldn't be complex this is a really good representation of how we're seeing uh the interaction with the blockchain at the moment so on one side you have uh users interacting very blindly with the blockchain so they see it as something that is opaque scary unknown um not a place where you get your Alpha from and also not

a place that is very exciting to be I would say and so on the other side you have this discovery feeling where it's all exciting trending where you're on Twitter social media and this is where everything is happening right so this is how we're feeling I mean most of the time unless you're a super tech savvy and you spend a lot of time reading the blogs and so we have this distorted signal that is happening from what is happening actually on chain to uh being broadcasted to the social media masses so because we're not really able to read the chain or read etherscan we tend to get our information from there or get the information from someone else that

is telling us what is actually happening on chain we rely a lot on those people and so what we've been trying to do at zapper is to connect all of those dots and also bridge the gap of Unchained literacy uh zapper's been known as so as a defy dashboard where you get to see all of your assets in one place but now the big step is to make everything more readable from on ethereum so let's take a look at what we have been doing recently so um okay screenshots here so we've been taking First Step we're like okay let's take all of those complex transactions that are happening we're already doing a lot of the reading on zapper so if you

have a position you entered a position in a pool you'll be able to see it on zapper in a readable way you'll see how much you put in but now we wanted to do the interaction part so you'll have a transaction of something that happened at the top you'll see the screenshot of etherscan which is an amazing tool that really shows what is the chain how it's working how it's live in real time it's also a tool that can be quite techy hard to use for some and so at the bottom you'll see a screenshot of how we interpreted that same transaction in a readable way and so you see now that this wallet has refinanced did an interaction with the smart contract it's

really clear everyone can read it and so we've been doing a lot of those interpretation why to build an activity feed so think of your Twitter feed the place where everything is so exciting and vibrant but think of ethereum feed so you get to see everything that is happening on chain you get to follow wallets that you want to follow follow your friends so you get to see what they're doing what they're buying what they're minting everything and so now the chain starts to feel a bit more active more vibrant more social as well so it's not this opaque place that you don't really want

to go you don't want to go and read the blocks and so our activity feed we were able to interpret 90 of all ethereum transactions right now so if you go on the activity fee and you scroll on it 90 is readable human readable transactions which is great but we still need to cover that 10 so the way we decided to tackle it is to create an event interpreter an event interpreter means that anyone can submit an interpretation of the event of what happened so you'll see the screenshot it says it did something it means that we haven't interpreted what that wallet did with the smart contract

we don't know exactly we have the transaction we can go and see it on etherscan and anyone can interpret it so you get to interpret even for this case it's a quite simple one some of them are a bit more complex so this one withdrews some tokens from convex so this event is submitted approved by our team and you're good to go what's really really cool about our event interpretation it's not that you're interpreting for yourself one event it really acts like mini on-chain indexers so what I mean by that is like once this withdrew from convex is interpreted all other occurrences of that same event at all times even if you go in the past from other wallets is going to be interpreted as well so one

single interpretation can result in thousands of readable uh events and this is how we're getting that 10 percent long tail event that we haven't covered and then at some point hopefully we reach 100 percent where you're scrolling on the feed and you see just everything that is happening on the chain in real time no need for technical skills okay A little bit of alpha here um we will be launching Trends soon Trends on zapper um the screenshot looks a little bit like um maybe the front page of Reddit where when you land you quickly see what is trending on the internet right so you get to see what people are searching

what what people are talking about same thing but instead of that you see what's trending on ethereum at the moment so maybe you want to know why is gas so high why the network is congested at the moment it's really hard to get that information from Twitter you can get a sense of what's going on if there's like a big mint but it's still trick here it's going to be instant what is hot and trending what memecoin users are buying right now what nft is minting so with the trends you'll be able to see all of that what we did basically is that all those events interpretation that you saw we aggregated them together and we surface those trends for specific time

frames so you can look at what's trending for one hour three hours yeah six hours 24 hours that gives you a really good sense and a good pulse of what is happening on ethereum right now it's pretty cool and it has really good Alpha um so how are we seeing the future of that um we're seeing the future as being on chain feels very vibrant a good analogy is that you're in this city and you're in a town hall and everyone meets there gathers their exchange you see everything that's happening you don't need to go on a third party on Twitter where people interacted on the chain and then went on Twitter and said hey this is what I did

on chain I minted this you don't need that part it's just there for everyone to see and so should just be General excitement and Good Vibes instead of feeling opaque and maybe even non-active even if the chain is very active when you you look at it you feel like there's nothing going on and this is not the place that you would want to see at the source what is happening you'll rely on others to tell you what is happening so this is how we're seeing the future and we think that to obtain that future we need to make the chain more readable for everyone and not just a small group thank you [Applause]

I don't know if there is any questions uh you mean the trends actually the so what's going to push the trends is going to be the number of times that the event occurred and so it has nothing to do with like the social likes it really if we constantly see the minting of that NF nft collection for example for that hour uh every time that this event shows it's going to feed into the number fully Unchained yet the social part when

you say like liking the social part will only be where you can follow wallets um just like you follow people on Twitter and so you get to see what they're doing yeah fully on chain yeah all right hi yeah so um it seems that most analyzes are based on quantitative data right are you thinking uh to add some qualitative signals to the to the identities Behind These addresses like I can see a lot of activity over a token

or a but I don't know how many Bots are are producing that so it's a lot of the things that happen on change doesn't really reflect real life right there is a lot of synthetic transactions so do you do you uh foresee adding some qualitative sign ups to produce a noise that's a really good point um for now no I think that there is some Bots for yes but I mean you'll still see and get a really good feel of the actual transactions that are happening because I'm just gonna overtake like by volume and so right now it's really simple for us it's just like the first step was the interpretation oh

maybe I didn't get your question you know but but then I mean if if you are not filtering the synthetic activity this can also be used as a tool for manipulating the perception right because if I can create a lot of traffic and you are you are magnifying that by showing that there is a lot of traffic right you're basically giving the people with behind the boat Farms a new tool to to create hype totally yeah you can we've seen this on the internet where you create the fake volume and everything so I think the step after this is going to find to find a way to filter it which is going to be a bit tricky but I think there's some ways around it where you will have to find

um the real the real interaction instead of the fake interaction that the user well the Bots are broadcasting for us so for sure thank you