On-chain analytics firm Bubblemaps announced today the launch of its BMT native token on Solana. This token will power the firm’s upcoming community-driven investigation platform, Intel Desk. 

The platform will launch during the first quarter of 2025. Users can submit investigation ideas on suspicious activity and vote on them.

Self-described as the “first community-driven investigation platform,” Intel Desk will allow users to submit cases regarding suspicious wallets, scams, or fraudulent token launches. Community members will then leverage BMT tokens to vote on which cases they want Bubblemaps to investigate.

Also, users can use their BMT tokens to allocate on-chain assessment resources. Bubblemaps will lead investigations on the most-voted cases. However, users can contribute to uncovering useful information.

The on-chain analytics firm is primarily known for its on-chain visualization tool, Bubblemaps V2. It provides a user-friendly representation of wallet connections.

So far, several leading networks, such as BNB Chain, Polygon, Etherscan, Pump.fun, and Avalanche, have integrated the tool to effectively identify and highlight potential scams within their ecosystems.

“Bubblemaps has built one of the strongest reputations within the space. Countless scams exposed, and an endless number of users are safer because of their hard work,” said crypto researcher Osmo.

While its V2 is mostly free, Bubblemaps’ BMT enables users to unlock advanced features like cross-chain analytics, cluster interpretation with AI, and profit and loss computation. 

Set to launch later this month on Solana, BMT will have a maximum supply of one billion tokens. 

A Track Record in Exposing Fraudulent Activity

Bubblemaps has already successfully investigated several suspicious activities. Last month, the firm alerted users early on that one cluster of connected wallets controlled 96% of the Hawk Tuah (HAWK) meme token supply launched by internet personality Haliey Welch. 

Shortly after its launch, Hawk Tuah experienced a significant surge in value, reaching a market capitalization of $500 million. However, this initial euphoria was short-lived, as the market cap plummeted to $60 million within 20 minutes. 

This event sparked outrage and confusion among investors and quickly led to accusations of insider trading. The token collapse sparked a lawsuit against the creators of the Hawk Tuah coin, alleging securities violations.

Back in 2023, the platform revealed that AI-focused venture capital firm a16z largely controlled the supply of Uniswap’s governance token.

Bubblemaps identified that a16z controlled 41.5 million of decentralized exchange (DEX) Uniswap’s UNI token, representing more than 4% of the supply.

The revelation sparked outrage among users, given that Uniswap requires 4% of votes to pass any proposal. The wallets owned by a16z can collectively change the outcome of any governance vote, challenging Uniswap’s claim of having a decentralized governance model. 

Overall, Bubblemaps has become a highly reputable and credible name in crypto investigations. The BMT token launch could further drive its growth in this space and help verify scams more efficiently.