Introduction

NFTX is a platform for creating liquid markets for illiquid Non-Fungible Tokens (NFTs). Users deposit their NFT into an NFTX vault and mint a fungible ERC20 token (vToken) that represents a claim on a random asset from within the vault. vTokens can also be used to redeem a specific NFT from a vault.

This dashboard provides:

1. User activity providing (i.e. minting) and removing (i.e. redeeming) liquidity from NFTX vaults;
2. The top 3 vaults with the most activities.

Methodology

1. Identify NFTX vault addresses (i.e. platform_address) in the ethereum.core.ez_nft_sales schema by filtering for platform_name = 'nftx'.
2. Identify transactions providing liquidity (i.e. minting) to the NFTX vaults in the ethereum.core.fact_event_logs schema by filtering for event_name = 'Minted' and contract_address = NFTX vault addresses
3. Identify transactions removing liquidity (i.e. redeeming) from the NFTX vaults in the ethereum.core.fact_event_logs schema by filtering for event_name = 'Redeemed' and contract_address = NFTX vault addresses

1. User activity

2. Top 3 NFTX vaults

Findings/conclusions:

• The top 3 NFTX vaults in terms of transactions are:
  1. Milady Maker
  2. Goblintown
  3. Forgotten Runes Warriors Guild
• Milady Maker and Goblintown have similar proportion of transactions providing liquidity (40% ish) vs. removing liquidity (60% ish).

Findings/conclusions:

• Transaction activities in the last 60 days peaked in late May 2022 and have since been on a downward trend, reflecting the broad malaise in the crypto market;
• In the last 60 days, there are more transactions providing liquidity (c. 53% of transactions) to the vaults than removing liquidity (c. 47% of transactions).