Saturday, May 25, 2024

On-chain data provider Arkham Intelligence has started a marketplace that will let people to buy and sell on-chain cryptocurrency data.

The marketplace, dubbed the Arkham Intel Exchange, will feature a native token (ARKM) that is designed to “deanonymize the blockchain.”

The token will be issued on the Binance Launchpad with 50 million tokens being up for sale, which equates to 5% of the total supply. Each user will be able to purchase $15,000 worth of ARKM tokens in the sale which runs from July 11 to July 17.

Arkham’s new platform uses a bounty mechanism that lets users post “bounties” for sought after data, blockchain researchers and sleuths can then source and provide information in return for the initially pledged bounty.

Cryptocurrency hacks and exploits broke records last year with billions of dollars worth of digital assets being stolen from cross-chain bridges, decentralized finance (DeFi) protocols and exchanges.

Arkham aims to combat the proliferation of crypto hacks by incentivizing on-chain research, although concerns have been raised by several privacy advocates on Twitter.

Arkham has raised over $10 million from two rounds of equity financing with the latest equity round at $150 million, according to Binance’s research page. Whilst 5% of token supply is allocated to the token sale, 20% will go to core contributors, 17.5% will go to investors and 17.2% will be put towards the foundation treasury.

Edited by Parikshit Mishra.

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