What is Solana?

Created by Anatoly Yakovenko, Solana operates on a blockchain. This blockchain database manages and tracks the currency, and effectively records every transaction that's ever occurred in it, like a long-running receipt

What are NFTs?

A non-fungible token is a unique digital identifier that cannot be copied, substituted, or subdivided, that is recorded in a blockchain, and that is used to certify authenticity and ownership.

What is Hadeswap?

It's an Automated Market Maker (AMM) NFT marketplace that improves NFT liquidity and trading. It allows users to trade and swap NFTs using liquidity pools, exactly like you would trade and swap crypto using Uniswap. 2:46 PM · Aug 29, 2022 ·Twitter Web App.

What is wash trading?

A wash trade is a form of market manipulation in which an investor simultaneously sells and buys the same financial instruments to create misleading, artificial activity in the marketplace. First, an investor will place a sell order, then place a buy order to buy from themself, or vice versa.

Methodology

in his dashboard we are looking to see what proportaion of the sales activity on Hadeswap and Magic Eden are wash sales. In this dashboard a wash sale is when a wallet buys the same NFT more than one time within the same 30 days. The data for this dashboard will come the solana.core tables of Flipside’s database.

Sections

1. Hadeswap sales acivity
2. Hadeswap sales by collecion
3. Magic Eden sales activity

Hadeswap sales acivity

Observations

• Between 10% and 30% of the users on Hadeswap, each day are wash-selling transactions.
• There is a very large difference in wash sale activity by collection on Hadeswap.
• Since the start of October, there has been a very large increase in sales activity on Hadeswap.
• In total there are 24K sales on Hadeswap from 1.5K wallets.

Magic Eden sales activity

Observations

• Between 0.5% and 2% of the users on Magic Eden, each day are wash-selling transactions.
• Since the start of October 2021, there has been a very large increase in sales activity on Hadeswap.
• since the start of summer 2022, there have been more than 50K sales on Magic Eden each day.

Conclusion

• Hadeswap sales activity
  • Between 10% and 30% of the users on Hadeswap, each day are wash-selling transactions.
  • There is a very large difference in wash sale activity by collection on Hadeswap.
  • Since the start of October, there has been a very large increase in sales activity on Hadeswap.
  • In total there are 24K sales on Hadeswap from 1.5K wallets.
• Magic Eden sales activity
  • Between 0.5% and 2% of the users on Magic Eden, each day are wash-selling transactions.
  • Since the start of October 2021, there has been a very large increase in sales activity on Hadeswap.
  • since the start of summer 2022, there have been more than 50K sales on Magic Eden each day.

Hadeswap sales by collecion.