sciecon / sok_blockchain_decentralization

The Decentralization Index of Blockchain Transactions: the Entropy of Token Transfers on Ethereum

SoK: Blockchain Decentralization

Read our paper on arXIV:arxiv.org/abs/2205.04256

Supplementary resources, data, and code

by Luyao Zhang*⁺, Xinshi Ma⁺, and Yulin Liu*⁺

*: joint corresponding authors

⁺: joint first authors

Folder	Contents
Data_Coinmetrics	ERC20 Tokens market metrics and data
Data_TokenIndex	Decentralization Index (Updated Daily)
Data_EIP1559	EIP1559 adoption data
code	Code used to produce analysis in the paper
code_index_tutorial	Sample calculation of Decentralization Index
data_index_tutorial	Ethereum transaction data used in sample calculation
conference_invitations
figures

Table of Contents

1. Coinmetrics Market Data

1.1 Table of Data Files

Name	Token	File Name
Bitcoin	BTC	btc.csv
Ethereum	ETH	eth.csv
Dai	DAI	dai.csv
Sai	SAI	sai.csv
Aave	AAVE	aave_met.csv
Compound	COMP	comp_met.csv
Maker	MKR	mkr_met.csv
Uniswap	UNI	uni_met.csv
Sushiswap	SUSHI	sushi_met.csv
Balancer	BAL	bal_met.csv
RenVM	REN	ren_met.csv
Synthetix	SNX	snx_met.csv
Nexus Mutual	NXM	nxm_met.csv

1.2 Data Dictionary

Variable Name	Unit	Frequency	Description
CapMrktCurUSD	USD	Daily	Market capitalization in USD: The sum USD value of the current supply.
PriceUSD	USD	Daily	The fixed closing price of the asset as of 00:00 UTC the following day
VtyDayRet30d	Percent per annum	Daily	The 30 day volatility, measured as the standard deviation of the natural log of daily returns over the past 30 days.
TxTfrValAdjUSD	USD	Daily	The USD value of the sum of native units transferred between distinct addresses that interval removing noise and certain artifacts.
TxTfrCnt	Number	Daily	Daily transaction count

1.3 More about Data Source

Description of other variables can be found in the Coinmetrics Docs

2. Data_TokenIndex

2.1 Table of Data Files: Decentralization Index (Shannon Entropy) of Top DeFi Tokens

Name	Token	First Observation Date	File Name
Aave	AAVE	2020-10-02	Aave_ent.csv
Compound	COMP	2020-06-14	Comp_ent.csv
Maker	MKR	2017-12-15	Maker_ent.csv
Dai	DAI	2019-11-18	Dai_ent.csv
Sai	SAI	2017-12-18	Sai_ent.csv
Liquity	LQTY	2021-04-05	Lqty_ent.csv
Uniswap	UNI	2020-09-18	Uni_ent.csv
Sushiswap	SUSHI	2020-08-26	Sushi_ent.csv
Balancer	BAL	2020-06-20	Bal_ent.csv
Bancor	BNT	2017-06-17	Bnt_ent.csv
Convex Curve	CVXCRV	2021-05-17	CVXCRV_ent.csv
Convex	CVX	2021-05-17	CVX_ent.csv
Fei Protocol	TRIBE	2020-3-28	Tribe_ent.csv
RenVM	REN	2017-12-31	Ren_ent.csv
Flexa	AMP	2019-01-09	Fxc_ent.csv
Tornado Cash	TORN	2020-12-18	Torn_ent.csv
Synthetix	SNX	2020-05-11	Snx_ent.csv
Nexus Mutual	NXM	2019-05-23	Nxm_ent.csv

2.2 Data Dictionary: Decentralization Index of Top DeFi Tokens

Variable Name	Unit	Frequency	Description
val	N/A	Daily	Decentralization Index value of transaction decentralization over the entire day before 00:00 UTC the following day
date	N/A	Daily	The corresponding date index was calculated for

2.3 More about Data Source: Decentralization Index of Top DeFi Tokens

Caculated from Google BigQuery Ethereum dataset token transfers table.

3. Code

Content	Section of Paper	URL
Decentralization_Classes	Section 4: Data and Empirical Analysis	https://github.com/SciEcon/SoK_Blockchain_Decentralization/blob/main/code/Decentralization_Classes.ipynb
Top_DeFi_Decentralization_Visualizations	Section 4.2: Descriptive Analysis	https://github.com/SciEcon/SoK_Blockchain_Decentralization/blob/main/code/Top_DeFi_Decentralization_Visualizations.ipynb
SAI_DAI_Decentralization_Analysis	Section 4.3: Predictive Analysis	https://github.com/SciEcon/SoK_Blockchain_Decentralization/blob/main/code/Top_DeFi_Decentralization_Visualizations.ipynb
Decentralization Index Daily Update	N/A	https://github.com/SciEcon/SoK_Blockchain_Decentralization/blob/main/code/daily-query.ipynb
EIP-1559 Analysis	Section 4.4: Causal Inference	https://github.com/SciEcon/SoK_Blockchain_Decentralization/blob/main/code/EIP1559_Analysis.ipynb