MoonScout [Table 1]

Agents
Memecoin

Inspiration

In the world of cryptocurrency, there are many coins become popular and soar in value based off of nothing more than hype and memes from social media influencers. These coins are often dubbed "memecoins". Although these memecoins can gain an insane amount of value in the short term, their value often collapses in the long term, making them a bad investment for ordinary traders. We wanted to make a project which informs users on whether a coin is a memecoin or legitimate.

What it does

MoonScout scans newly minted crypto coins and determines whether they are memecoins or legitimate. This data is gathered from various sources, including the blockchain itself and posts about the coin on social media sites like Telegram.

If they are memecoins, they get displayed on our web app for users to see in real time. The app will also display stats about each coin which are used to detect their legitimacy, such as the coin's volatility and how much share in the coin the top holder has (higher values -> more likely to be a memecoin).

How we built it

We're using Fetch.ai agents written in Python for tasks like web scraping (gathering social media post data), polling the Birdeye API (used to access blockchain data), and orchestration (combining the results of the agents and delivering it to the user). The data on each coin is stored in a MongoDB Atlas cluster.

As for the web app, the backend uses Flask, which is a Python web framework. The frontend is written in HTML, CSS, and JavaScript.

Challenges we ran into

One challenge that we ran into was retrieving the results from the database into the backend. As this was our first time working with MongoDB Atlas, we had some issues with setting up the server and connecting to the cluster from our backend.

Accomplishments that we're proud of

We are proud that we were able to make our idea come true within the 24 hour time limit, while using new technologies along the way.

What we learned

This project was our first time using both Fetch.ai and MongoDB. We learned a lot about the best use cases for both technologies, as well as how to integrate them into a web app for both development and production.

What's next for MoonScout

One feature that we are thinking of adding is the ability to lookup past coins on the app. In addition to the previously mentioned stats, the app would display a timeline of when the coin was minted and when the peak price was reached.