What is DexCheck?

DexCheck is a data analysis tool powered by artificial intelligence (AI) that allows users to analyze the digital asset market. Unlike other analysis tools that divide the extensive crypto market data into subsets, DexCheck offers a complete view of the digital asset ecosystem.

The platform covers DEX tokens and NFTs, which allow users to access the data they need to make informed decisions. It gives users access to tools like the checkerboard for new users, whale trackers, token analysis, Telegram bots, and smart portfolios.

History of DexCheck

The DexCheck project was founded in 2023 by Raffaele Carnevale and incubated by ChainGPT.

ChainGPT is an AI infrastructure launched by Ilan Rakhmanov in June 2023. The project uses its native token, CGPT, to provide advanced AI-powered tools for the Web3, Blockchain, and Crypto space. ChainGPT’s use cases include a dev assistant, a smart contract generator and auditor, and a chatbot assistant that generates news and NFTs, among others.

The initial version of DexCheck was launched in 2023. It was part of the ChainGPT launchpad and is part of the project’s ecosystem.

By 2024, the platform launched its V2, with Ilan Rakhmanov, the CEO of ChainGPT, as a major investor and strategic adviser. Alongside him is Elliot Hagemeijer, the founder of Decubate, and Siva Sagiraju, the Product Marketing Director at Polygon Labs.

The project aims to introduce multiple features, such as NarrativeAI, to provide insights into emerging tokens. IQ Tracker is used to track VCs and influencers’ on-chain activities，including NFT rarity analysis, Crypto derivatives market analytics, AI-arbitrage scanner, and expansion of mobile app capacities.

How Does DexCheck Work? Frontend Architecture, Backend Architecture, Data Aggregation and Processing, Database and Storage, etc.

Source: DexCheck AI whitepaper

Frontend Architecture

DexCheck’s frontend architecture utilizes React and Redux. React is a popular JavaScript library used mostly for building user interfaces. Redux complements the React code by managing the application’s state.

React usually provides users with a smooth, responsive experience through its native rendering, which allows a program to run at a native speed. The Redux keeps track of all the data relating to the user interface.

It allows the Decux component to determine how the DexCheck platform would look and respond during use.

Backend Architecture

DexCheck’s backend architecture comprises two popular web app technologies: Node.js and Express. Node.js is a runtime environment specifically designed to run Javascript codes like React.

Express is a framework that allows developers to easily build applications on Node.js. In the DexCheck project, Express creates an API layer, acting as an intermediary between the user and databases.

The project used Node.js because of its event-driven, non-blocking I/O model. This means it can handle multiple requests concurrently without waiting for one to finish before processing the next. This allows the project to handle many users without getting compromised.

Data Aggregation and Processing

DexCheck integrates with multiple blockchains, supporting multiple EVM-compatible chains. DexCheck prioritizes data accuracy by utilizing custom-built APIs and proprietary algorithms. This ensures users receive independent, reliable information without relying on third-party sources.

With its in-house custom-built APIs, web scraping techniques, and select third-party APIs, DexCheck gathers data from multiple Web3 technology sources, such as DEXs, NFT marketplaces, and blockchain explorers.

As an analysis tool, DexCheck gathers, cleans, processes, and transforms the data to ensure consistency and accuracy. To analyze and process large amounts of data in real-time, Dexcheck uses Apache Spark and Kafka, enabling the platform to perform at high speeds.

Database and Storage

The DexCheck project uses three fundamental database types to store information: a Relational Database built with PostgreSQL, a NoSQL database built with MongoDB, and a Cache built with Redis.

The Relational database is the backbone for structured data, which organizes data into clean rows and columns. This data may include prices, trade details, or user information.

NoSQL Database handles unstructured data like complex trade information or user preferences. The MongoDB framework excels in the flexibility required to store these data types.

Cache stores frequently accessed data. DexCheck leverages Redis, an in-memory storage solution, to significantly speed up access to these data types, enhancing the platform’s performance.

Artificial Intelligence and Machine Learning

DexCheck uses an advanced analysis tool that integrates trained AI models to process data and identify patterns. The project uses TensorFlow, a popular open-source machine-learning training framework.

It allows AI models to conduct sentiment analysis, trend prediction, and anomaly detection tasks. Sentiment analysis involves analyzing publicly available conversations and social media to understand the overall market sentiment.

Trend prediction involves identifying patterns in historical data to forecast future price movements. Anomaly detection allows the AI to spot unusual activity in the market that might indicate potential scams or pump-and-dump schemes.

Infrastructure and Deployment

The infrastructure for the DexCheck project leverages cloud hosting, containerization, and orchestration. The project uses Hetzner, a cloud hosting provider, to compute, store, and build a data network.

In addition to its cloud infrastructure, DexCheck utilizes the micro-service architecture through Docker and Kubernetes. Docker allows DexCheck code to be packaged into containers or pods.

Kubernetes is responsible for deploying, scaling, and managing these containers. This allows the DexCheck project to be accessible to all users and capable of the flexibility needed to meet user demands. It also ensures adequate management and deployment of DexCheck services for users.

Features of the DexCheck Ecosystem: CheckBoard, Token Analytics & Charts, Address Analyzer, etc.

CheckBoard

Source: DexCheck AI website

The checkboard is one of the major interfaces of the DexCheck project. It acts as a central hub for analyzing the market. It is a comprehensive dashboard that aggregates real-time data from reputable sources.

It allows users to track the performance of different cryptocurrencies and stay updated on the latest trends. It allows users to gain insights into the activity on various DEXs and trading pairs on these DEXs.

It also provides information on NFT collections, top-moving assets, new listings on crypto exchanges, and the latest cryptocurrency and NFT news.

Token Analytics & Charts

Dexcheck allows users accurate access to data on specific tokens. This feature provides a range of functionalities for both free and premium users.

The free tier offers access to historical price charts, allowing users to identify trends and analyze past performances. Additionally, users can view key token metrics like market capitalization, circulating supply, and trading volume.

Upgrading to the premium tier unlocks advanced analytics, including on-chain data visualization, liquidity pool analysis, and comparing multiple tokens side-by-side.

Address Analyzer

Source: DexCheck AI website

This feature allows users to investigate a specific blockchain address, regardless of whether it’s a cryptocurrency wallet or a smart contract. Users can view the transaction history associated with the address, identify linked projects, and analyze overall activity.

This level of transparency empowers users to conduct thorough research on potential investment opportunities and understand the flow of funds within the blockchain ecosystem.

Crypto and NFT Whales Tracker

The cryptocurrency market is heavily influenced by the actions of large token holders, popularly known as “whales.” Their financial activities can unfold positively or negatively, directly affecting market sentiment.

DexCheck’s Crypto Whales tracking feature empowers users to monitor these whales’ movements. This would assist the user in making better-informed decisions based on the activities of large holders.

The free tier provides basic whale tracking functionality, allowing the identification of significant on-chain transactions and gauging overall whale activity. Upgrading to premium unlocks more data, including whale wallet identification, historical transaction analysis, and the ability to set custom alerts.

Top Crypto and NFT Traders (Pro)

One premium exclusive feature is the top crypto and NFT traders feature, allowing users to compare their trading strategies with the industry’s best.

Here, users can view the performance of leading cryptocurrency traders, analyze their portfolio holdings, and potentially gain valuable insights to incorporate into their trading strategies.

DexCheck’s Top NFT Traders leaderboard empowers users to identify and learn from the best in the NFT space. Users can analyze leading NFT collectors’ portfolios and trading activity to optimize their NFT investment approach.

Smart Money Leaderboard (Pro)

The “smart money” concept refers to institutional investors and sophisticated traders known for their market expertise. This premium-only feature, the Smart Money Leaderboard, provides a unique glimpse into the investment activity of these influential players.

Users can gain insights and identify investment opportunities by tracking the tokens and projects favored by the “smart money” institutional investors.

InsightsGPT (Pro)

Source: DexCheck AI website

Dexcheck, which ChainGPT incubated, leverages the power of AI to analyze vast amounts of on-chain and market data. This data is then utilized to generate insightful reports and identify potential investment opportunities.

This AI-powered feature utilizes advanced natural language processing (NLP) to conduct its activities.

Token Unlocks Dashboard

Source: DexCheck AI website

Certain cryptocurrency projects have locked tokens that gradually become unlocked and released into circulation over time. These token unlocks can significantly impact the market price, allowing informed users to profit.

DexCheck’s Token Unlocks Dashboard provides a comprehensive overview of upcoming token unlocks across various projects. This allows DexCheck users to anticipate potential market shifts and make informed decisions.

What is the DCK Token?

Source: DexCheck Whitepaper

The DCK token is the native token of the DexCheck platform. It gives users access to the platform’s pro features, such as in-depth token analytics, on-chain data visualization tools, and exclusive insights.

The DexCheck platform also rewards user participation in the ecosystem through DCK tokens. This can include activities like contributing data, curating content, or engaging in governance processes.

The DCK token has a total supply of 1 billion, with 339 million in circulation. The project allocated 8% (80 million) to private A funding, with a vesting period of 15 months and a cliff period of 3 months. 9% (90 million) is allocated to private B funding, with a vesting period of 15 months and a cliff period of 3 months.

3% (30 million) is allocated to KOLs, with a 9-month vesting period and a 2-month cliff period. 8.7% (87 million) is assigned to the public sale, with a 6-month vesting period and a 2-month cliff period.

9% (90 million) is allocated to the team, with a vesting period of 36 months and a cliff period of 6 months. 3% (30 million) is assigned to the advisors, with a vesting period of 24 months and a cliff period of 5 months. 20% (200 million) is allocated to providing liquidity, with a vesting period of 12 months.

5% (50 million) is allocated to development, with a vesting period of 24 months and a cliff period of 1 month. 10% (100 million) is allocated to marketing efforts, with a vesting period of 24 months and a cliff period of 1 month.

8% (80 million) is allocated to the DAO, with a vesting period of 36 months and a cliff period of 6 months. 16.3 (163 million) is allocated to rewards, with a vesting period of 36 months and a cliff period of 1 month.

Is the DCK Token a Good Investment?

The DexCheck platform uses the DCK token for its premium features, participation incentives, and governance. It allows users to pay for advanced features and unlock additional benefits.

With the DexCheck integration of advanced AI, the project is future-proof compared to essential analysis platforms, making it a potential leader in its sector. With the multiple utilities of the DCk token across the DexCheck platform, the token is set to develop over time, giving it a long-term growth prospect.

Risk Analysis

Advantages

DexCheck solves a unique problem affecting the majority of Web3 users. The platform offers solutions for users who want to make informed investment decisions.

This platform lets users track their favorite trader, whale, web3 project, NFT artist, and more without missing important information.

Disadvantages

DexChecks’s success is intrinsically linked to the overall adoption and usage of the platform. As a new project, it is yet to prove its track record of excellence, making it difficult to amass a large community. A limited user base could negatively impact DCK demand and its value.

Challenges

DexCheck comprises artificial intelligence and Web3 analytics. While the adoption rate of these technologies is gaining momentum, they are still far from mass adoption, which poses a challenge for the platform.

It is also part of the crypto space, making it susceptible to price volatility and regulatory uncertainty.

Competitive Analysis

The DexCheck project and Nansen are data analysis platforms in the crypto space. While they are similar, they cater to different user groups.

Nansen excels in on-chain analytics, delving directly into blockchain data to track wallet movements, identify DeFi activity, and unearth hidden investment opportunities. DexCheck, on the other hand, prioritizes monitoring crypto transactions and identifying suspicious activities.

Nansen is a more established platform with more features, while DexCheck is a newer project with well-developed features.

While the Nansen project was established, it has not released its native token, so it is not a decentralized autonomous organization. DexCheck has launched its native token (DCK), allowing holders to participate in governance.

How Can You Own DCK?

Users can follow a simple process to own DCK tokens and become a part of the Dexcheck ecosystem.

Setup a Wallet

One way to own DCK tokens is to purchase them through an exchange. For this, the user must create a Gate.io account, complete the KYC process, and add funds to the account to buy the token.

Utilize the DCK Tokens

Once users have acquired DCK tokens, they can explore the Dexcheck ecosystem by analyzing digital assets and participating in governance.

Take action on DCK

Users can trade the DCK token here.