Crypto data analytics platform Dune has acquired blockchain simulation company smlXL, and launched the Dune Index, a new metric to track meaningful blockchain adoption.
The terms of the smlXL deal were not disclosed, but the takeover coincides with the introduction of a real-time multi-chain analytics platform, dubbed “Dune Ech.”
Dune Echo provides real-time data across 30 blockchains, including Ethereum, various Layer 2 networks, and Solana. Echo delivers data within 300 milliseconds of block propagation, offering what Dune claims are the “fastest APIs in the industry” for token balances and transaction queries. “Echo enables account and protocol data in real-time, simplifying development and enhancing user experiences,” said Dune’s co-founder and CTO, Mats Olsen.
The company also announced its acquisition of smlXL, a blockchain simulation firm backed by a16z. Dune CEO Fredrik Haga highlighted that smlXL’s technology will streamline real-time blockchain data retrieval, making it “10x easier for developers to build with onchain data.”
Dune also introduced the Dune Index, a metric designed to track blockchain adoption over time, adjusting for factors that may distort actual use. The index provides a detailed view of blockchain traction, with its peak reaching 86.75 on November 8, 2021, and currently standing at 55 as of Monday.
“The Dune Index provides a clean overarching view of onchain adoption. So any industry observer can understand how much traction blockchains have.” Haga added.
Although blockchain data is inherently on-chain, yet interpreting and analyzing it can be quite complex due to its fragmented and intricate nature. Dune allows businesses and researchers to analyze raw blockchain data through its abstraction layer, Spellbook, making the process far more manageable. This setup simplifies access for data scientists, analysts, and businesses, offering a comprehensive view across various blockchain protocols, including Polkadot, Arbitrum, Base, Bitcoin, Ethereum, Optimism, Solana, and more.
