Bubblemaps, the firm that uncovered the Hawk Tuah (HAWK) pump-and-dump scheme, has announced its own token’s debut in the near future on the Solana blockchain.
Bubblemaps, a leading blockchain-focused analytics firm, has confirmed the debut of its very own cryptocurrency on the Solana blockchain by the end of the month. This initiative adds another firm to the growing list of digital asset service providers that have launched their own digital assets during the recent bull market.
According to a post on social media platform X (formerly Twitter), the upcoming Solana-based token will form the backbone of a new investigation platform called Intel Desk that the firm has planned to be in the coming days as well. Users will be able to submit investigation requests starting the first quarter of 2025 as Intel Desk aims to be “first governance for on-chain investigations.”
The new token, called Solana Bubblemaps Token (BMT), will allow users to vote on these requests. Once a request receives enough votes, Bubblemaps will lead an investigation into the matter, with voters allocating on-chain sleuthing resources. Also, the people part of the community and the contributors can also provide their insight or help Bubblemaps uncover the real truth behind a notorious project.
According to a statement given by Nick Vaiman, co-founder and CEO of Bubblemaps, to Decrypt, the Bubblemaps core team will be responsible for the accuracy of the research and actions while the results will be declared publicly without any bias.
“Investigations will be led by Bubblemaps’ core team to ensure the research is credible and actionable. Once an investigation is complete, we’ll share the findings publicly,” Vaiman added.
Notably, Bubblemaps promised that BMT will unlock some of the advanced features of Bubblemaps V2. These include P&L computation, analysis across various blockchains, cluster interpretation via artificial intelligence, and maps providing details of the top 1,000 holders.
It is also important to note that the users who use their tokens to vote on requests will receive their BMT tokens back once the case in question has been marked resolved. The payback process is automatic, and those who participated in Intel Desk initiatives will be rewarded via the Ecosystem Fund.
The Ecosystem Fund has been described as a share of BMT supply stored for rewards. However, additional details regarding the tokenomics have not been disclosed. Bubblemaps said that more details will be unveiled by the end of the week.
Bubblemaps rose in popularity after the project identified that an overwhelming 96% supply of the Hawk Tuah (HAWK) token debuted by internet sensation from 2024, Haliey Welch, was under control of just a handful of wallets. The platform then debuted a deeper investigation into more facts, confirming that HAWK was indeed a pump and dump token.
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With a background in finance and a passion for innovation, Anisha has been covering the ever-evolving world of crypto for over four years. Her deep understanding of the crypto market have made her a trusted source for analysis and news. Whether it's dissecting the latest trends or decoding whitepapers, Anisha is dedicated to bringing clarity to the world of digital assets.
