DISCOVERY AND DUE DILIGENCE
IN THE NANSEN DASHBOARD
Hot Contracts
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Watch Tutorial Video
STEP ONE
Dashboard:
N/A
Inputs:
Hot Contracts �(Ethereum, Polygon, Avalanche, Fantom, BSC, and Celo)
Widgets:
Home
High numbers for the Smart Money depositors of the last 24 hours
What You Are Looking For:
Step 1
Because if Smart Money have deposited significantly in a smart contract, it could be a positive signal
Why
A minimum of 1 Smart Money depositor is a good metric to filter out noise. However, you can drill down into the wallet profiler (later) to get a sense of the demographic via the Top Labels from Interacting Wallets tab which gives a breakdown of the participants of a given pool/mint. In short, the more $ inflows and # of smart money depositors, the better. Toggle between the Ethereum Hot Contracts and Multichain Hot Contracts (as shown below) to filter out new opportunities.
Pro Tip
Step 1
Hot Contracts on Ethereum
Multichain Hot Contracts
Hot Contracts
STEP TWO
Dashboard:
N/A
Inputs:
Hot Contracts
Widgets:
Inflows sorted by the inflow time frames given - 1H, 1D and 7D inflows/outflows. Used in conjunction with the number of Smart Money Depositors (column far right) can lead to some interesting opportunities.
What You Are Looking For:
8
Step 2
Hot contracts indicates the "Hot" contracts on chain that tend to be recently deployed. These contracts often comprise of new opportunities such as NFT mints or fresh yield opportunities. This dashboard is for discovery purposes on new opportunities and can be used across all Nansen supported chains.
Why:
If you are looking for "fresh" opportunities, sort by the 1H and 1D inflows/outflows.
If you are looking for short to mid-term trends, use the 7D inflows and increase the 'Max Contract Age' to more than 7 days.
You can also use the # of depositors column over each time frame - 1H, 1D, and 7D to get a better understanding of the distribution of depositors for a given contract. Usually, the more depositors for a given contract means it is an NFT mint or something that has large community involvement. Again, use this in tandem with the 'Smart Money Depositors' column to give a better risk/reward to your activities. Although it is not a perfect metric, Smart Money wallets can give a contract more credibility than one that does not have any of them.
Finally, some contracts might be so new that our attribution team has not yet labeled them. This can seem odd at first but it actually can be indicative of alpha given it is so new, so please check them out and explore them further by right-clicking and using the block explorer to find out more!
PRO TIP
Step 2
Token Movements
STEP THREE
Dashboard:
Yesterday's and today’s dates
Inputs:
Balance Change in the Period
Widgets:
The single entities/wallets that account for the overall change in token holdings/inflow of the discovery dashboards between the two specified dates (i.e. last 24 hours)
What You Are Looking For:
11
Step 3
Gives us a macro perspective of where a given token is flowing on chain. This is particularly useful to see changes over a given timeframe that may be indicative of ongoing developments or trends in the market. In addition, we can now tell whether that change/inflow was caused by just one entity or many.
Being able to contextualize a token’s flow is signal, rather than taking an aggregate across the market. An example can be tracking WETH token movements over the last 2 months and seeing a general trend of WETH flowing into the Avalanche bridge.
Why:
Step 3
This widget will also be able to show that the change in holdings/inflow at times was not determined by purchases alone, but by sales too.
An increase in holdings of 30M might be 40M bought and 10M sold. Moreover, a single entity could have both bought AND sold for the same amount, which would return a 0 change in balances. But the transactions would show in the next widget of Token Movements.
Another way this dashboard is useful is that it shows if a given wallet DCA or accumulated a position over a given timeframe. For instance, if we track the token movements for wLUNA over the last 2 months, we can see Parafi has put on a big position. However, this might have been hidden in the token flows dashboards over smaller timeframes.
Pro Tip
Wallet Profiler [Overview]
STEP FOUR
Dashboard:
Wallet address of the contract
Inputs:
Activity: All Time
Widgets:
How many days has the contract/pool been deployed?
What You Are Looking For:
Step 4
The newer, the better.
Why:
Using this graph, you can see the activity over a certain time frame.
First, look at when the contract was created, which can also be confirmed below using the 'Related Wallets' information. This will give context on the recency of the contract, who deployed it, and the activity of the addresses over each day.
For example, if the # of transactions on 1 day is way higher than the rest, we can infer based on the distribution that it was most likely an NFT mint.
PRO TIP
Step 4
Wallet Profiler [Counterparties]
STEP FIVE
Option 1
Dashboard:
Wallet address of the contract
Inputs:
Top Labels from the interacting wallets
Widgets:
What types of wallets are interacting with this contract?
What You Are Looking For:
Step 5.1
The more addresses for a desired label, the better. The desired wallet label varies on the contract being explored.
Why:
Toggle with the ‘# of addresses’ column to sort by the # of depositors per wallet label. The more addresses for a desired label, the better. The desired wallet label varies on the contract being explored. For instance, if we are exploring an NFT mint we would like to see Legendary NFT Collectors. Whereas if we were in a specific pool we would like to see ‘Smart LP’, etc.
PRO TIP
Step 5.1
Wallet Profiler [Counterparties]
STEP FIVE
Option 2
Dashboard:
Wallet address of the contract
Inputs:
Top-interacting Wallets
Widgets:
Who exactly has interacted with this pool and what is the measure of engagement?
What You Are Looking For:
Step 5.2
The smarter or known, the better. You can drill down on these wallets, unlike the 'Top Labels From Interacting Wallets' table. If you saw an interesting label from there, you can use the data filter button to find that address and curate a possible strategy.
Why:
First, check out the list of wallets that are presented in the table. If some of them interest you, drill down on them by clicking on them or right-clicking to take you over to 'Wallet Profiler'. Next, we would recommend using the data filter button to curate strategies based on your needs. This is extremely powerful and can be used to curate strategies on fields such as 'Name', ‘Volume', and '# of transactions'.
For example, if you are looking at a pool and want to see all of the 'Smart LP' wallets, you can input 'Smart LP' into the 'Name' field. This will give you a breakdown of all Smart LPs for that given pool. This can be used across all wallet labels. In addition, you can sort by the number of transactions to see how active a wallet is with this pool. The more transactions, the more active they are with LPing to this pool and vice versa.
A great hack to filter for Smart Money wallets is by using the data filter button and input the smart money logo into the ‘name’ field: 🤓.
PRO TIP
Step 5.2
Wallet Profiler for Token
STEP SIX
Dashboard:
Wallet address and token address
Inputs:
Largest Token Transaction
Widgets:
The token balance over time and the counterparties to see where the wallet is using the specific token.
What You Are Looking For:
Step 6
To better understand what the wallet has been doing with the specific token and where they are using it to LP, stake or bridge over. The counterparties can reveal important things such as possible yield strategies.
Why?
Sort the Largest Token Transfers by 'Time' to get an overview of the most recent activity. This will give you a better understanding of what the wallet has been recently doing with the given token. Next, you will want to keep track of interesting counterparties such as liquidity pools, staking pools, or bridges to get a better sense of what they are doing with the token.
If you notice a trend, use the data filter button to drill down on a specific counterparty, min or max amount of tokens, and even toggle with a date range (similar to token movements but only for the selected wallet). This is very powerful as you can easily spot trends in a wallet's activity for a specific token. For example, you can input 'Bridge' to the Counterparty field to get a breakdown of all the bridges it has deposited to. This can be replicated across any other name of a counterparty.
PRO TIP
Step 6