ByAUJay
Summary: The blockchain intelligence scene is changing big time! It’s no longer just about fancy dashboards; now, we're talking real decision-making tools that can help guide choices. In this post, we're going to dive into how decision-makers can take those raw on-chain signals--things like blobs, mempools, intent fills, user operations from smart accounts, and DA attestations--and turn them into actionable KPIs. We'll see how they can lead to real wins in key areas like growth, risk management, and product development. It’s all about making that data work for you! On top of that, we’re going to dive into some cool practices and tools for 2024-2025 that you can start using in just 90 days!
Blockchain Intelligence for Web3: From On-Chain Data to Business Insights
Understanding the Basics of Blockchain and Its Applications
Blockchain technology has been creating quite a buzz across different industries lately, and honestly, it’s super important to understand what it actually is and how it all functions.
What is Blockchain?
At its heart, you can think of a blockchain as a digital ledger. Think of it as a decentralized setup where different people can safely keep and share a database together. Every block in the chain has a bunch of transactions in it, and whenever a new transaction happens, that record gets added to everyone’s ledger.
Key Features of Blockchain
- Decentralization: Since there’s no one person or group calling all the shots on the blockchain, it really lowers the chances of anything shady happening.
- Transparency: Everyone who's part of the process can view the transactions, which makes keeping track of everything a breeze.
- Security: Thanks to cryptographic methods, changing any information after it's been recorded is pretty tough.
How Does It Work?
Alright, let’s take it one step at a time.
1. Starting a Transaction: So, when someone wants to kick off a transaction, they just make a request. 2. Verification: So, the network nodes (you can think of them as computers) get to work by checking whether the transaction is legit. 3. Block Creation: After everything checks out, the transaction is grouped with a bunch of others to create a block. 4. Consensus: So, basically, the block gets added to the current blockchain using a consensus mechanism, which can be something like Proof of Work or Proof of Stake. 5. Hey, the transaction's all wrapped up, and every copy of the blockchain has been updated!
Applications of Blockchain
Blockchain isn't just about cryptocurrencies, you know? There's way more to it than that! Check out these awesome ways people are using it:
- Supply Chain Management: This is all about keeping an eye on how products move from the very beginning to the end of their journey.
- Healthcare: Keeps patient records safe and sound while making it super easy for both patients and providers to access them whenever they need to.
- Voting Systems: They really enhance the transparency of elections, which helps lower the chances of any funny business happening.
- Intellectual Property: It’s all about safeguarding your rights by keeping track of who owns what.
Challenges Facing Blockchain
Even though blockchain has a lot of exciting possibilities, it still faces a few challenges:
- Scalability: When more users jump on board, the system might start to lag a bit.
- Regulatory Concerns: So, it looks like governments are still trying to wrap their heads around how to regulate blockchain technologies.
- Energy Use: Certain consensus methods tend to consume a lot of energy, which brings up some concerns about sustainability.
Conclusion
Blockchain brings some pretty exciting possibilities to a bunch of different industries. Its unique features really stand out and have the potential to make a big impact! Once you get a grip on the basics, you'll feel way more ready to jump into the exciting world of decentralized technologies. If you're looking to dive deeper, here are some great resources to explore:
- Blockchain Basics
- Check out The Future of Blockchain! It’s a great resource for diving into what’s next for blockchain technology.
Hey, just a little reminder: the more you soak up knowledge, the more awesome opportunities you'll find in this ever-changing world! It's pretty exciting, right?
Why blockchain intelligence is different now
Three Shifts Since 2024 That Changed the Game for On-Chain Data:
1. The Rise of Interoperability. Interoperability has really been a hot topic lately. Different blockchains are now teaming up effortlessly, making it super easy for us to access and use on-chain data from multiple networks without any fuss. This really translates to easier transactions and a more interconnected world of cryptocurrency.
- Enhanced Privacy Features
Privacy has become a hot topic these days. There are some exciting new protocols coming out that boost user privacy but still let you access on-chain data. This is a total game-changer for anyone looking to keep their activities private while diving into the blockchain economy. - Improved Scalability Solutions
Scalability has definitely been a big conversation lately, and the tools that have popped up since 2024 are really starting to make a difference. Thanks to some cool layer-2 solutions and other tech improvements, we're now able to manage a huge number of transactions much more efficiently. So, what this really means is that you can expect quicker speeds and reduced fees when you're working with on-chain data.
These changes have really transformed how we view and interact with on-chain data. It's now way more accessible, private, and efficient than it’s ever been!
Hey, have you heard about Ethereum's Dencun upgrade (EIP-4844)? It’s made quite a splash! This upgrade really cut down data costs for rollups using blobs, and as a result, L2 fees have dropped dramatically--by 50-98%! How amazing is that? This means that users can now access a lot more detailed telemetry without breaking the bank! As soon as the upgrade rolled out, Uniswap saw a pretty significant drop in its median swap fees on Layer 2, going down from $1. 19 to around $0. We've noticed swaps going for less than a cent on OP chains, and it’s been pretty cool to see! (thedefiant.io).
- The user experience on L2 is really picking up pace, heading straight toward that “web-speed” feel. Hey there! So, with Flashbots' Flashblocks and Rollup-Boost, we're seeing preconfirmations in the range of 200 to 250 milliseconds. Plus, there's some solid order tracking happening on OP Stack chains like Base and Unichain. It’s pretty cool how fast and reliable things are getting! This really speeds things up! It reduces the time it takes to get from a click to feeling confident by an incredible 10 times. That makes using real-time behavioral analytics a whole lot more doable. (theblock.co).
So, account abstraction (that’s ERC‑4337 for the techies out there) has really simplified how we track user operations using something called userops. Plus, it’s brought in this cool feature for programmable fees, thanks to paymasters. Pretty neat, right? In 2024, we hit a huge milestone with more than 100 million user actions! A big shoutout to the paymasters, who really stepped up and took care of the majority. It looks like adoption is really picking up for Base and Polygon lately. It's interesting how it kind of goes up and down with the incentives they offer. This is super helpful to keep in mind when we’re trying to figure out how to retain customers and what it might cost to bring in new ones. (panewslab.com).
In the meantime, EU MiCA is moving from just being a concept to really kicking in with enforcement. This means we’ve got to find a smooth way to combine growth analytics with compliance. Hey, just a heads-up! So, we're looking at stablecoin and EMT regulations rolling out on June 30, 2024. Then, come December 30, 2024, we’ll see some bigger CASP requirements coming into effect. Just something to keep in mind! On top of that, there’s a nationwide enforcement push going on that’ll last until the first quarter of 2025. If you’re looking for more info, you can check it out here.
So, what’s the bottom line? You absolutely can--and definitely should--keep an eye on on-chain behavior just like those innovative product teams do. Plus, you can do it all while staying on the right side of the regulatory requirements!
A practical stack: from raw signals to decisions
Here’s a solid plan you can start using in just 90 days! I've also got some tool recommendations lined up for you, along with what makes each one a great pick.
1) Capture the right signals (don’t just poll RPC)
- Getting the Job Done Quickly and Thoroughly. If you're looking to boost your JSON-RPC performance, you might want to think about running or buying Reth or Erigon. Both options can really help you get that high throughput you’re after, plus they come packed with all the debug and trace features you’ll likely find useful. Reth’s latest production setup really shines with full debug and trace support. It can sync archives in less than 50 hours, which is pretty impressive! Plus, the RPC performance is top-notch, making it a great choice for explorers, simulators, and indexers alike. Take a look at this on GitHub! You might find something interesting!
- Make sure to follow the best practices for operations! That means using NVMe drives, ECC RAM, and leveraging tools like Prometheus and Grafana to keep everything running smoothly.
Setting limits on batch RPC concurrency can really help avoid those pesky overloads. Check out all the info you need over at Erigon’s documentation. It’s got everything laid out for you! - Stream, Don’t Scrape
Check out The Graph’s Firehose and Substreams - they’re a game changer when it comes to making your historical indexing a breeze while also letting you stream real-time blocks.
By using reorg cursors alongside “sink anywhere” outputs--like Postgres, Kafka, and BigQuery--you'll really cut down on those pesky RPC calls. This can seriously speed up your backfills, making everything run a lot smoother! Check it out at Firehose. You’ll find all the info you need! - L2 Blob with Preconfirmation Context. Make sure to keep track of blob fees and usage once EIP-4844 rolls out. It’ll give you a good idea of the cost to serve and help you spot any backlogs before they become an issue. On OP-Stack chains featuring Flashblocks, you can really take advantage of pre-confirmation streams to get lightning-fast insights. For example, you can catch things like a “swap abandonment after a price move” in just a second. It’s pretty cool how quickly you can get that kind of info! If you're looking for more details, check out this article from The Defiant. It's got some great insights!
- Mempool and MEV Results.
- To keep our users safe and boost those price KPIs, let’s route private order flow through Flashbots MEV-Share. We should also track how backrun refunds are doing and check on the inclusion latency. You can check out both historical data and near-real-time info on MEV-Share. It's all available through public BigQuery datasets, so you can easily query it whenever you want! If you want to dive deeper into the details, check out the Flashbots’ docs. They’ve got a ton of great information waiting for you!
- Smart-Account Funnels
Hey there! So, what we need to do is keep an eye on the ERC-4337 EntryPoint events and UserOps. This will help us track when things get activated and also let us sort out the different types of successes and failures--things like signatures, paymaster issues, or initCode problems. Plus, we’ll want to keep tabs on refunds and how long it takes for things to get included. Sound good? Hey, just a quick reminder to check out the open metrics guidance in the 4337 documentation. It'll help you create those standardized dashboards for your teams. It’s a great way to keep everyone on the same page! If you want to dive deeper into the details, check out the ERC-4337 Docs. There's plenty of great info waiting for you there!
2) Land and model (warehouse + OLAP)
- Cold/Warm Storage: If you’re looking to dive into Ethereum data, Google BigQuery has got you covered! You can check out their public crypto datasets to find all the key Ethereum blocks, transactions, logs, and traces. No need to worry about managing any infrastructure--it's all set up for you! Plus, you can throw in your own app data, like SIWE identities, to get a full picture of your analysis. Check it out here.
- Hot analytics: If you're looking to dive into real-time behavioral insights across big data sets, ClickHouse is totally your go-to solution. It feels almost like magic, right? With over 20 times the compression, those scans just take a couple of milliseconds! This tool has really shown its value, especially when it comes to working with on-chain analytics providers and CryptoHouse on Solana. It's super easy to run interactive, free queries--like, you won't believe how simple it is! Learn more here.
- Streaming: Picture this: Kafka seamlessly feeding data into ClickHouse Materialized Views, where your metrics refresh in a heartbeat. It’s like being able to keep an eye on "mints by cohort" and see the numbers change in just the last 5 seconds. How cool is that? Wow, we're looking at hundreds of thousands of events every single second! If you're curious and want to explore more, check out the details here. Dive in!
3) Identity and consent
Give Sign-In with Ethereum (ERC-4361) a shot! It's a cool way to link your wallet addresses to off-chain sessions. Oh, and by the way, you can totally check out ERC-5573, also known as "ReCaps." It’s super handy for handing off specific capabilities--think of it like OAuth but tailored for downstream services. This approach is pretty awesome when it comes to keeping things private while still getting those analytics you need. Take a look at this: (eips.ethereum.org).
4) Accuracy and resilience
Hey team! Just a heads-up about the reorg awareness. As we work on the ingestion design, let's ensure we set up those confirmation thresholds. It’d be great to include automatic rollback and replay features, too. It’ll really help us keep everything smooth and efficient! We should definitely focus on "safe block" semantics--kind of like the justified checkpoints from the beacon chain--for the metrics we show to our users. It’s a smart way to keep everything consistent and reliable. Feel free to use the client or fork-choice debug endpoints whenever you need them! Don’t hesitate at all! (ethereum.github.io).
- Finality: It's super important to understand the economic finality we're dealing with right now, which is roughly at the minute level. We also need to stay on top of our roadmap items, like that 3-slot/SSF research, as we map out our cross-domain SLAs. (arxiv.org).
What to measure: concrete KPIs decision-makers can trust
Take a look at these important metrics that really help us figure out what to focus on and how we allocate our budget.
Product and growth
- Activation rates on-chain based on wallet type.
- What it is: This keeps an eye on the very first successful UserOp or L2 transaction that happens within 24 hours after SIWE.
- Why it’s important: This really helps clarify how EOAs and 4337 accounts differ when it comes to friction. We're talking about things like signature issues or those little gaps in paymaster sponsorships that can trip us up. Feel free to take a look at the reasons for any rejections by using the simulateValidation feature. It’ll give you a better idea of what’s going on! (docs.erc4337.io).
- Cost-per-service for actions after 4844.
- What It Means: Basically, we're talking about the combined costs of the amortized blob fee share and the sequencer fee refunds that come into play whenever you do something on the platform. This includes actions like swapping, minting, or voting. The Dencun upgrade really helped bring those costs down for Layer 2 solutions. So, it's smart to think about how unit economics play into your choice of blockchain. (thedefiant.io).
- Preconfirmation abandonment
If you're working in spaces that use Flashblocks, it’s a good idea to track how many people move from “click to preconfirm to finalized” in 1-second intervals. This can really help you pinpoint where you might be losing folks in the process! If you see that more than X% of people are dropping out after the pre-confirmation step because of price changes, it could be a good idea to reevaluate your user experience. (theblock.co). - MEV refund rate
- For users going through Protect/MEV-Share, let’s find out what the average refund or share is for each qualifying swap. The main thing you want to focus on is making this better than what you’d find in the public mempool baselines. (docs.flashbots.net).
- Customer Acquisition Cost (CAC) by Wallet Group (from ads to on-chain). Basically, this means we're combining the conversion signals from Web3 ad platforms with the initial actions that happen on-chain. If you're looking to up your marketing game, vendors like HypeLab are definitely worth checking out. They specialize in wallet-aware targeting, which means they can help you reach the right audience more effectively. Plus, they offer post-click analytics SDKs that can really boost your efforts and give you some great insights. (hypelab.com).
Finance and risk
- Stablecoin Compliance Situation (EU Operations). Let's break down the revenue share associated with EMTs and ARTs that follow the MiCA rules set for 2024-2025. We've got to keep an eye out for any non-compliant usage and flag it by the first quarter of 2025, as per ESMA's guidelines. (esma.europa.eu).
- Bridge/DA Exposure Score
Alright, so when it comes to rollups that are using external data availability sources like Celestia or EigenDA, we should take a moment to figure out the value-at-risk. We need to consider how the data availability verifier model plays a role in this, as well as any potential issues with liveness that might pop up. This should align nicely with L2BEAT's DA risk framework. (forum.l2beat.com). - Sanctions Screening Coverage
- Keep an eye on how many inbound and outbound addresses are getting screened with Chainalysis, TRM APIs, or through on-chain oracles. Let’s stay on the lookout for any rate-limit issues or availability hiccups that could leave us with some coverage gaps. It's important we catch those early! (kytdoc.kyt-dev.e.chainalysis.com).
Examples you can replicate
Example 1: Quantify Dencun ROI on unit economics (Base/OP)
- Question: "Hey, what's the scoop on EIP-4844 and how does it affect what I pay to serve?"
- How:
First off, take a look at the L2 fee receipts and see how they line up with blob usage, especially around the activation on March 13, 2024. Let’s break it down based on what you’re actually doing. Are you swapping tokens, minting new ones, or maybe bridging assets? Whatever it is, let's take a closer look! After that, take a look at the 30-day medians and see if there are any outliers, both before and after. Hey, so check this out - some studies have found that L2 fees have actually dropped by a whopping 50-98%! And get this: right after the activation, the median swap cost on Uniswap was around 96% lower. Pretty impressive, right? I’d definitely recommend crunching your own numbers to see how it compares for you! (thedefiant.io). - Decision: If you see a turnaround from the negatives to positives, it might be time to rethink your promos or maybe lower those minimum order sizes.
Example 2: Design a smart-wallet onboarding funnel that actually converts
- Question: “So, do you think those 4337 wallets are doing more good than harm when it comes to activating users?”
- How:
Let’s make sure we stay on top of the UserOp lifecycle. Basically, it’s all about keeping an eye on a few key things: we’re looking at how things come in, spotting any hiccups during validation (like issues with signatures, problems with the paymaster, or those pesky initCode errors). Plus, we’re tracking gas usage for handleOps and timing how long it takes for everything to get included on the chain. Hey, how about we dive into the bundler metrics checklists from the 4337 docs? They can really help us nail down some solid Service Level Objectives. If you want to dive deeper into the details, just check this out here. - In terms of external adoption, Q4 2024 saw over 1 million cumulative smart accounts and more than 100 million user operations in a year, heavily backed by paymaster sponsorship. That's super exciting for trying things out! But we really need to focus on keeping people engaged, too. You know, just having cool trials isn't quite enough; we need some real-life examples to show why it's worth sticking around. Sure thing, let’s adjust those incentives as necessary! If you're curious to dive deeper into this topic, just click here for more info! Alright, here’s the plan: We’re going to launch the “sponsored first action” feature on Base. Let’s also keep tabs on the paymaster gas burn caps each week. And don’t forget, we need to address those signature class failures to ensure everything runs more smoothly from the get-go.
Example 3: MEV-positive execution policy
- Question: “Can we actually make MEV work in favor of users?”
- How:
Hey there! So, the plan is to send order flow directly through MEV-Share/Protect. We’ll keep an eye on the average refund for each eligible swap and see how it stacks up against the public mempool when it comes to inclusion latency. Plus, we should check out the differences in failure rates, too. Let's dive into it! We can also take a trip down memory lane and check out past bundles using the public MEV-Share BigQuery tables. That’ll help us establish some solid baselines. (docs.flashbots.net). - So, here's the plan: we really want to emphasize those price improvement guarantees for our loyal power users. Let's also consider setting up revenue-sharing arrangements with our partners that are based on the actual refunds we can track.
Example 4: Cross‑chain “intent” success KPI
- Question: “So, what’s our actual success rate for cross-chain transactions?”
- How:
- Whenever you can, try to normalize fills by using the ERC‑7683 (Cross‑Chain Intents) fields. We're going to closely watch how the fillers are performing, paying attention to things like how long it takes to fill them and any slippage compared to the EBBO. We'll also dig into why there are any reverts on each leg to get to the bottom of it. So, when it comes to the CoW Protocol, which focuses on those intent-based batch auctions, we’ve got to keep an eye on solver surplus and check out how those hooks are getting utilized. (eips.ethereum.org).
- Decision: Alright, let’s zero in on teaming up with those popular filler networks. The 7683 standard is a game changer when it comes to cutting down failure rates, so it makes sense to take that route. Let’s make sure to send bigger orders to spots that have consistently had a good stock of solvers.
Example 5: EU MiCA “green zone” revenue
- Question: “What's the percentage of EU revenue that's compliant these days?”
- How:
- Identify EMT/ART transactions that meet the MiCA requirements, such as issuer details and redemption rights, and collaborate with CASP-licensed partners. Let’s not forget about ESMA's deadline coming up on January 17, 2025, for those stablecoins that aren’t in compliance. It's definitely something we should keep an eye on! Hey, just a reminder to keep an eye on any transitional extensions in Spain and Lithuania that could affect our geo operations. It’s super important to stay in the loop! (esma.europa.eu).
- Decision: We really need to focus on geo-fencing our payment options and team up with issuers that are licensed in the EU. Let’s step up our remediation efforts before those national NCA audits get underway.
Data availability is not just fees: measure DA safety, too
Hey, low blob fees are pretty fantastic, right? Just a quick heads up, though--some rollups are starting to rely a bit more on external Data Availability (DA) layers. Consider your intelligence function as a tool to help you handle vendor risk related to DA.
- DA Liveness and Attestation Delay: Stay in the loop with alerts when DA attestations, like those from Celestia Blobstream and EigenDA verifiers, start acting out of the ordinary. You’ll be the first to know if something seems off! It’s a smart idea to tie the backlog to when things are going to be wrapped up. Check it out here.
- DA Verifier Model: Let’s explore how light-client proofs stack up against committee signatures. It’s pretty interesting to see the distinctions! Make sure to figure out the risk weight for each layer 2’s DA bridge assumptions by using the framework from L2BEAT. If you're looking for more details, you can check it out here.
- Adoption Update: Hey, it looks like Celestia’s DA is really starting to catch on! More and more rollups and frameworks are choosing it as their go-to solution. Pretty exciting stuff! By keeping an eye on rollup counts and how much we're using blobs, we can get a head start on predicting any potential costs or capacity problems that might pop up later. If you want to dive deeper into this topic, check it out here. There's a lot of interesting info waiting for you!
Real-time UX analytics with Flashblocks
Hey there! So, if your users happen to be on Base or Unichain, here’s what you need to know:
So, if you get preconfirmations every couple hundred milliseconds, you can really keep an eye on the whole “click→preconfirm→finalize” process. This way, you can easily catch when users bounce after the preconfirm stage, especially if it’s because the prices have changed. If you team this up with the simulations from Tenderly, you can easily double-check your swaps for any slippage or allowance mistakes before you hit that request signatures button. It's a great way to make sure everything's in order! This method really helps reduce the number of failed on-chain attempts. (theblock.co).
Operationally:
So, picture Flashblocks as kind of an out-of-protocol stream. You’ll still have to get in sync with the final blocks eventually, but the cool part is that you can handle the UI state in a really optimistic way. If something seems off, you can always just roll back and fix it. It’s like having a safety net! Don't forget to keep track of your Service Level Agreements (SLAs) for pre-confirm versus final confirm. It’s super important to have that documented! Take a look at this: docs.unichain.org. You might find it really interesting!
Compliance-by-design analytics
- Sanctions Screening and Know Your Transaction (KYT). Make your address pre-screening and transfer monitoring a breeze with Chainalysis KYT and TRM Sanctions APIs. They really help simplify the whole process! To handle on-chain enforcement, make sure to leverage Chainalysis’ sanctions oracle contracts for your inline checks. Hey, just a quick reminder to make sure you've got those retries and incident alerts set up. You know how sneaky things can get--like when rate limits hit or those unexpected 5xx spikes pop up. They can really mess with your coverage without you even noticing! Keep an eye on it! Hey, if you want to dive into the details, just click here.
Alright, let's dive into how travel rule data flows work. Hey there! If you’re in charge of custody or playing the middleman, it’s definitely smart to incorporate Travel Rule protocols or services like Sumsub or TRP. Plus, don’t forget to keep a close eye on your counterparties! It’ll really help you stay organized and compliant. It’s really beneficial to send those match results back to your data warehouse. That way, you can dig into pass rates based on different corridors and VASPs. If you’re looking for more details, just check it out here. Happy exploring!
- MiCA/EMT Operations
Make sure to watch how EU-facing EMTs are being used and keep tabs on how the issuers are doing. Hey, just a quick reminder to keep an eye on the EBA RTS/ITS and ESMA guidance timelines as you plan out your payment user experience in the EU. It’s really important to stay in the loop! Check out the latest updates right here. You'll want to stay in the loop with what's new!
Engineering playbook: build it safely and fast
- Indexing and Simulation If you're looking for fast backfills and want to make sure your forks are safe, definitely choose Firehose or Substreams. They’ve got you covered! Combine that with Tenderly simulations to spot any failed transactions before they even happen. It'll help you understand what might have gone wrong during your product experiments. Take a look at this: (firehose.streamingfast.io). You might find it interesting!
- Mixing It Up: Node Variety and How It Affects Performance. Hey, if you're diving into this, it's smart to set up at least two execution clients--like Reth and Geth or Erigon. Just a tip: try running them behind a proxy that routes traces and reads separately. It'll make things smoother! Just a quick reminder to jot down your reorganization policies and the confirmation depths for each chain. It’s super important to have that info handy! Dive deeper here: (github.com).
- Reorg-Aware Data Design So, go ahead and set up those append-only staging tables. Just make sure they’re keyed by the block number and hash. Once you hit those confirmation thresholds, you can roll out your main views. Hey, don’t forget to set up those automatic rollbacks if there’s a hash mismatch in N blocks! It’s a good safety net to have in place. If you've got dashboards that need to keep things updated without taking too many risks, check out those safe-block or justified checkpoints. They're super helpful! More info here: (ethereum.github.io).
- Keeping an eye on 4337 and Intents.
Hey there, if you're into bundling, make sure to pay attention to some key factors like ingress, how simulation reverts are mixing, inclusion latency, and those pesky gas estimation errors. It’s one of those details that can make a big difference!
Make sure to set up alerts for any sudden increases in failed
handleOps()calls. Also, keep an eye out for any problems with paymaster sponsorship timeouts--they can be a real headache if they start cropping up! When you're looking into cross-chain intents, make sure to keep an eye on the timelines for open to fill, the different kinds of fillers involved, and any settlement failures that pop up along the way. Check out all the details right here: (docs.erc4337.io). You won't want to miss it!
Emerging practices to adopt in 2025
- Intent Standardization (ERC-7683): It's all about making sure we're all in sync! We want to have some common order formats and settlement interfaces that everyone can use. This can really help improve fill rates and make it easier to analyze data across bridges and cross-chain DEXs. Take a look at it right here: (eips.ethereum.org). You might find it pretty interesting!
- MEV-positive defaults: We can send order flow through these order flow auctions (that's the MEV-Share part) and check out refunds based on different groups. We could take this money and use it to cover fees for some of our most valuable users. If you want more info, you can check it out here: (docs.flashbots.net).
- DA risk dashboards: You can picture DA like a vendor in this scenario. Let's make sure we add the L2BEAT DA verifiers and the liveness feeds to our weekly risk reviews. It’ll help us stay on top of everything and keep things running smoothly! Dive deeper here: (l2beat.com).
- Preconfirmation UX: Now that Flashblocks is live in some areas, let’s take a fresh look at those “waiting” states.
Let’s set up some quick feedback loops and keep a close eye on the reconciliation process. We should also take a good look at the error messages for those rare times when things go off track or need to be rolled back. You can check out more details over at this link: theblock.co. Happy exploring!
90‑day roadmap (what 7Block Labs typically ships)
- Weeks 1-2: Designing Metrics and Setting Up Data Contracts. Alright, let’s get started by breaking down some of our important performance indicators, or KPIs. We’re talking about things like activation, customer acquisition cost (CAC), refunds, cost-to-serve, and daily active (DA) exposure. We'll go ahead and set up the schemas, and then we'll get our SIWE and wallet telemetry all set up and ready to roll.
- Weeks 3-6: Data Plane Stuff. Alright, so in this phase, we’ll be getting the Reth/Erigon RPC set up. We’ll also be working on the Firehose and Substreams pipelines. Exciting stuff ahead! We're also going to set up our data warehouse, and we'll be using BigQuery and ClickHouse for those hot OLAP needs. Plus, we’re going to roll out some models that can tackle reorgs and smoothly work in MEV-Share and Tenderly. Hey, if you want to dive deeper into this, take a look at the Firehose Overview. It’s got all the details you’ll need!
- Weeks 7-9: Growth and Risk Loops. During this phase, we’ll dive into how growth and risk are interconnected. It's all about understanding how to balance the two for the best outcomes. We’ll explore strategies to leverage growth while being mindful of the risks that come with it. Alright, it’s time to kick off some wallet-aware campaigns, like HypeLab! These will help us track on-chain conversions and get valuable feedback. Let’s see what we can accomplish! We'll also team up with Chainalysis and TRM for some screening tasks, and we're planning to incorporate DA risk monitors for every L2. Curious to dive deeper? Check out HypeLab for some awesome insights!
- Weeks 10-12: Automating Decisions. As we wrap things up, we're going to zero in on a few key things. First off, we'll be setting up alerts to keep an eye on any changes in our KPIs. Plus, we'll send out weekly updates for the execs to keep everyone in the loop. Oh, and we’re also rolling out some experiment flags--like adjusting paymaster budgets automatically by cohort. Exciting stuff ahead!
Final thought
Blockchain intelligence has come a long way; it's not just about sifting through old data anymore. With the help of blobs, preconfirmations, smart accounts, and standardized intents, you can now track and improve the on-chain user experience as it happens. It's pretty cool stuff! Plus, you'll be able to keep up with MiCA regulations and meet those global AML requirements without a hitch.
To get started, focus on those five KPIs I mentioned earlier. Pick a blockchain that has fast confirmation times, and don’t forget to set up MEV-positive execution right from the get-go! Once you've got that sorted out, everything else will start to click into place. You can look forward to lower customer acquisition costs (CAC), a higher lifetime value (LTV) for your clients, and way less hassle with compliance issues. It's a win-win!
At 7Block Labs, we’re all about supporting teams throughout their journey. We've got your back at every stage! We really dive into all aspects of your data needs, whether it's setting up your data strategy and pipelines or tackling growth analytics and compliance integrations. Everything we do is tailored to your product and the legal requirements you need to follow in your region.
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