This analysis focuses on the EMDX token TGE (Token Generation Event) taking place on the Avalanche chain. EMDX leverages Avalanche's blockchain technology, specifically the EMDX Subnet, to enhance transaction speed, reduce fees, and empower users with enhanced network control. By operating on a secure and compliant platform, EMDX facilitates trading activities within regulatory guidelines.

To assess user participation and token purchases during the EMDX Event, I reviewed the period spanning from May 30th to June 1st.

Furthermore, I conducted an analysis to identify the buyers of EMDX tokens and their activities on the Avalanche chain.

In this section, I compared EMDX users and users of other tokens to gain insight into the number of token buyers on Avalanche.

The comparison revealed a significant disparity between EMDX and other tokens. For instance, a top token like USDC had a user base of 39,000, whereas EMDX, a relatively new token, had only 152 unique users.

It is worth noting that the time frame analyzed for other tokens mirrored that of EMDX.

Prior to delving into buying activities, let's examine the types of users who participated in the TGE event. Specifically, we can distinguish between new users and old users based on their recent activity on DEXs (Decentralized Exchanges) on the Avalanche chain within the last 30 days.

During the EMDX TGE event, approximately half of the participants were categorized as new users, while the other half consisted of old users. Interestingly, in the initial hours of the event, a majority of the old users actively took part, while the subsequent hours saw an influx of new users who also purchased EMDX tokens.