Solscan Checker

Available for the following blockchains: Solana

What is Solscan Checker?

The Solscan Checker is an advanced security feature within DIVINE that analyzes token distribution and ownership patterns on the Solana blockchain. It provides comprehensive risk assessment by examining token holder concentration, identifying suspicious wallets, and detecting centralized control that could lead to market manipulation or rug pulls.

How does it work?

1. Metadata Analysis: The checker fetches token metadata from Solscan API to retrieve accurate information about total supply, mint authority, and freeze authority.

2. Holder Data Collection: It collects detailed information about the top token holders, including their addresses and ownership percentages.

3. Holder Coordination Analysis: The system analyzes the trading behavior of top token holders across multiple tokens to identify coordinated wallet networks, bot activity, and potential pump groups even when they acquired tokens outside of recent transaction windows.

4. Liquidity Pool Identification: The system intelligently identifies liquidity pool addresses to differentiate between market liquidity and actual holders.

5. Blacklist Verification: Addresses are cross-referenced against DIVINE's internal blacklist database to detect known malicious actors.

6. Concentration Analysis: The checker analyzes both individual large holders and combined top holder concentration relative to total supply and liquidity.

7. Authority Risk Assessment: Tokens with active mint or freeze authorities are flagged as potential risks, as these can be used to create additional tokens or freeze transfers.

8. Comprehensive Reporting: Generates detailed reports with specific reasons for any identified risks.

Why is this important?

The Solana ecosystem has seen rapid growth, but this also attracts malicious actors who create tokens designed to scam investors. The Solscan Checker helps DIVINE:

• Identify unhealthy token distribution that could enable market manipulation

• Detect tokens with active mint authorities that could create unlimited supply

• Spot tokens with high ownership concentration in non-LP wallets

• Identify tokens held by known scammers or suspicious entities

• Analyze holder concentration relative to available liquidity

Key Features

• Accurate Supply Calculation: Uses actual token metadata instead of estimating from holder data

• Authority Detection: Identifies tokens with active mint or freeze authorities

• Intelligent LP Detection: Automatically identifies and excludes liquidity pools from concentration calculations

• Blacklist Integration: Leverages DIVINE's extensive blacklist database to identify suspicious holders

• Multi-faceted Analysis: Examines both individual large holders and combined top holder concentration

• Cross-Token Coordination Detection: Identifies suspicious wallet groups showing coordinated trading patterns across multiple tokens, revealing hidden relationships between holders

• Threshold-based Assessment: Uses carefully calibrated thresholds to identify potential risks

• Graceful Fallbacks: Maintains functionality even when specific API data is unavailable

• Owner Address Analysis: Examines both token holder addresses and their owner addresses

• Pagination Support: Can analyze large numbers of token holders by fetching data in pages

Benefits for DIVINE Users

• Enhanced Protection: Provides more accurate risk assessment through comprehensive holder analysis

• Authority Risk Awareness: Alerts users to tokens with active mint or freeze capabilities

• Manipulation Defense: Identifies tokens where a small group of holders could manipulate the market

• Blacklist Screening: Warns about tokens held by known scammers or suspicious entities

• Deep Liquidity Context: Evaluates holder concentration in the context of available market liquidity

Technical Implementation

The Solscan Checker integrates with the Solscan API to retrieve accurate token data, including:

• Token metadata (supply, decimals, authorities)

• Top holder information (addresses, balances)

• Token distribution patterns

The checker leverages multiple API endpoints in parallel to gather comprehensive data, ensuring the most accurate assessment possible while maintaining performance.

Continuous Improvement

DIVINE's Solscan Checker is continuously refined to:

• Adapt to emerging risks in the Solana ecosystem

• Fine-tune detection thresholds based on market conditions

• Enhance LP detection algorithms for improved accuracy

• Expand blacklist database with newly identified suspicious entities

Limitations

While Solscan Checker is a powerful tool, it's important to note:

• Token distribution can change rapidly, especially for new projects

• Some legitimate projects might have temporarily concentrated token distributions during early stages

• The analysis is based on on-chain data at a specific point in time