# 📘 Day 2: From ERC standards to an OM token crash

> Today started with a basic question:
“What’s the point of ERC20, ERC721, ERC1155 standards?”

**Published by:** [0xays](https://paragraph.com/@0xays/)
**Published on:** 2025-04-14
**Categories:** mantra
**URL:** https://paragraph.com/@0xays/om-token-crash

## Content

I realized these aren’t just for developers. They matter to analysts too. They bring structure. Functions like transfer() and events like Transfer are what make on-chain data queryable on platforms like Dune. I began with LINK. Found its contract on Etherscan. Tried to make sense of what I was looking at: token holders, event logs, decimals, total supply. Then I switched to Dune and wrote my first evms.erc20_transfers query. It failed a few times😭. Wrong column names, hex formatting issues, missing datasets. But eventually it worked. And more importantly, I understood what I was querying. Then I noticed something. OM token had dropped nearly 90% overnight. (While staring at the chart, I’ll admit I had a moment where I thought, “Could this be a buy-the-dip opportunity?” 😁)Addresses Receiving the Most OM Tokens (April 13–14, 2025)But today, I wasn’t just curious about the price. I wanted to understand what caused this drop. So I paused the theory and decided to follow a real on-chain event. Using Dune, I filtered OM transfers from the night of April 13. I listed the top sender addresses. Some of them had sent OM to Uniswap pools. Others sent to centralized exchange wallets. With Etherscan, Debank, and Arkham, I tried labeling those addresses. I found a MEV bot that dumped millions of OM tokens into a Uniswap V2 pool. I also found wallet addresses linked to OKX and Binance. And even though the co-founder said it wasn’t Binance, the largest transfer by volume, at least on-chain, seemed to be to a Binance deposit address. I didn’t reach a final conclusion. But that wasn’t the goal. The goal was to test myself. Could I take a real event and try to explain it with SQL, logs, and block times?Collect📍 What I learned today:Why ERC standards matter when analyzing token movementHow varbinary, FROM_HEX, and transfer logs work in DuneThat CEX addresses don’t always behave transparentlyHow MEV bots can play a role in sudden token crashesThat real events push me to learn faster than any tutorialI may not have published a final theory. But I got my hands dirty, and that’s the only way to really learn.🙂

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