CryptopunkMarket is an online platform that allows users to buy, sell, and trade Cryptopunks - unique, collectible digital artworks created on the Ethereum blockchain. It was launched in 2017 by Larva Labs, a software development studio founded by Matt Hall and John Watkinson. Cryptopunks are pixelated characters that were among the first non-fungible tokens (NFTs) ever created. The name "Cryptopunk" is a combination of "cryptocurrency" and "punk," reflecting the rebellious and decentralized nature of the project.
CryptopunkMarket offers several benefits compared to its direct competitors in the blockchain marketplace. One of the key advantages is the exclusivity and uniqueness of the Cryptopunk NFTs. Unlike other competitors, which may have a wide range of NFTs available, CryptopunkMarket focuses solely on selling Cryptopunks, which are highly sought after and have gained significant value over time. This exclusivity creates a sense of scarcity and prestige among collectors.
Another benefit of using CryptopunkMarket is its reputation and track record. As one of the first NFT marketplaces to gain widespread adoption, CryptopunkMarket has established itself as a trusted platform for buying and selling NFTs. This reputation attracts both experienced collectors and newcomers to the NFT space, providing a vibrant and active marketplace for Cryptopunks.
Additionally, CryptopunkMarket offers a user-friendly interface that makes it easy for buyers and sellers to navigate the platform. The intuitive design and streamlined process ensure a seamless experience when browsing, bidding on, or purchasing Cryptopunk NFTs.
Lastly, CryptopunkMarket provides robust security measures to protect users' digital assets. With the increasing number of NFT-related scams and fraudulent activities in the ecosystem, CryptopunkMarket's focus on security and authentication ensures that buyers can trust the authenticity and provenance of the Cryptopunks they purchase.
In summary, CryptopunkMarket distinguishes itself from its competitors by offering exclusive access to Cryptopunks, a reputation for trustworthiness, user-friendly interface, and enhanced security measures. These factors contribute to its position as a leading marketplace for collectors and enthusiasts in the NFT space.
CryptopunkMarket is a decentralized marketplace for trading Cryptopunks, which are unique digital collectible NFTs (non-fungible tokens) created on the Ethereum blockchain. The marketplace operates on the Ethereum blockchain, leveraging its smart contract functionality to facilitate the buying and selling of Cryptopunks.
The underlying technology behind CryptopunkMarket is based on Ethereum's smart contracts. Smart contracts are self-executing contracts with predefined conditions and terms written into code. In the case of CryptopunkMarket, the smart contracts handle the entire trading process, ensuring secure and transparent transactions.
To participate in CryptopunkMarket, users need to connect their Ethereum wallet, such as MetaMask, to the marketplace. This allows them to interact with the smart contracts and trade Cryptopunks. Users can browse the available Cryptopunks listed for sale, view their attributes and rarity, and make offers or purchase them directly.
When a user wants to buy a Cryptopunk, they simply need to send the required Ether (Ethereum's native cryptocurrency) to the smart contract associated with the desired Cryptopunk. Upon successful completion of the transaction, ownership of the Cryptopunk is transferred to the buyer.
CryptopunkMarket provides a secure and transparent platform for trading Cryptopunks, allowing collectors and enthusiasts to easily buy, sell, and discover unique digital collectibles. It harnesses the power of Ethereum's blockchain technology and smart contracts to ensure trust and immutability throughout the trading process.
DIA employs a comprehensive approach to fetch trade data from various DeFi and NFT exchanges. The specific process differs depending on the type of exchange being referred to.
For centralized exchanges like Coinbase, Kraken, and Binance, DIA utilizes scrapers that directly collect trades from the exchange databases using Rest APIs or WebSocket APIs. The frequency at which data is collected varies from 1 to 7 seconds, depending on the exchange. This method ensures that DIA retrieves trading data as close to the source as possible, enhancing the precision of the data.
In the case of decentralized exchanges, DIA collects data from various blockchains by subscribing to swap events in liquidity pools. This approach allows DIA to retrieve trading data directly from the blockchain itself, ensuring a high level of data accuracy. Prominent decentralized exchange sources include Uniswap, curve.finance, and PancakeSwap.
When it comes to NFT marketplaces, DIA captures live trading data by retrieving information from the integrated marketplaces' smart contracts. The retrieval period typically ranges from 20 seconds to 1 minute, enabling DIA to cover all NFT transactions happening in real-time. By focusing on the transactions themselves, DIA ensures data precision and avoids relying on potentially unreliable bids and offer data. Notable NFT integrated exchange sources include Blur, X2Y2, OpenSea, and TofuNFT.
DIA's comprehensive data management strategy, which leverages a network of WebSockets, decentralized node providers, and direct blockchain data retrieval, allows them to provide highly accurate and customizable price feeds for cryptocurrencies, DeFi, and NFT assets.
When building price feed oracles with CryptopunkMarket trade data, DIA follows a specific process that varies depending on whether it's a DeFi exchange or an NFT collection.
For DeFi exchanges, DIA begins by cleaning and detecting outliers in the trade data. This includes removing trades with prices that significantly deviate from the market price, ensuring the accuracy of the final price feed. The Interquartile Range (IR) filter is used to identify and exclude outlier data points. Trades falling outside of the acceptable range in relation to the interquartile range are filtered out.
Next, DIA applies price determination methodologies to calculate the final price from the remaining data points. One example is the Volume Weighted Average Price (VWAP), which takes into account the different volumes of trades. Another example is the Moving Average with Interquartile Range Filter (MAIR), where trades are ordered by timestamp and weighted against volume to arrive at the final price.
For NFT collections, the process is different. DIA determines the floor price of an NFT collection by processing the on-chain trade data in two steps. Firstly, the data is passed through cleansing filters to exclude market outliers and manipulative techniques. Then, a pricing methodology is applied to determine the final price point.
The simplest methodology offered by DIA is the Floor Price, which provides the lowest sale price of an NFT collection recorded on the blockchain during a given time window. However, this methodology can be susceptible to manipulation by malicious actors. As a result, DIA also offers advanced methodologies such as Moving Average of Floor Price, which calculates the moving average of a collection's floor price with customizable parameters.
To ensure the accuracy and reliability of NFT floor prices, DIA applies various techniques and filters, including the interquartile range outlier detection filter, which helps filter out malicious behavior like wash trading.
In summary, DIA employs a systematic process of data cleaning, outlier detection, and price determination methodologies to build price feed oracles using CryptopunkMarket trade data for both DeFi exchanges and NFT collections.
Instead of distributing pre-calculated data feeds, DIA covers the whole data journey from individual trade collection, and computation to the last mile of the feed delivery.