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Blockchain and DeFi · Web3 infrastructure

Our own NFT indexer: 265.7 million Ethereum transfers, a 99.98% match with Dune

Web3 Indexer was Netixsol's own NFT data product: an Ethereum indexer, a REST API, an NFT marketplace with explorer pages, and SDKs. It indexed 265.7 million NFT transfers across 272,943 contracts, matching Dune's count to 99.98%.

Product
Web3 Indexer, a Netixsol product
Chain
Ethereum mainnet
Stack
Subsquid processors, the open-source Reservoir indexer, RabbitMQ, Redis, PostgreSQL, Next.js
Team
5 engineers plus PM, QA and design
Timeline
Mar 2023 to Apr 2024
Status
Retired 2024
NFT transfers indexed
265.7M
Indexer database, Dec 2023
Match with Dune
99.98%
Transfer count compared with Dune, Dec 2023
Contracts indexed
272,943
Indexer database, Dec 2023

The challenge

Ethereum holds hundreds of millions of NFT transfers across old and new contract standards, and reading them straight from the chain is slow.

Listings live on separate marketplaces, each with its own format.

Our approach

Built on open source, extended in house

We started from the open-source Reservoir indexer and rebuilt it on Subsquid processors, RabbitMQ, Redis and PostgreSQL, split into separate services.

Checked against an outside source

We compared our transfer count with Dune's: 265,677,750 transfers across 272,943 contracts, a 99.98% match.

Listings from three marketplaces

OpenSea, Foundation and CryptoPunks listings flow into one view, and buyers finish the purchase on the source marketplace.

What we built

  • An Ethereum indexer for NFTs (ERC-721, ERC-1155 and CryptoPunks) and WETH and USDC transfers.
  • A metadata service and an order book for on-chain and off-chain listings.
  • A REST API with an npm client and SDKs.
  • An NFT marketplace with explorer pages for collections and tokens.

How it fits together

  1. Source

    • Ethereum mainnetNFT transfers (ERC-721, ERC-1155, CryptoPunks), WETH and USDC

  2. Indexing

    • Subsquid processors
    • Reservoir indexerOpen source
    • RabbitMQ and RedisQueues and cache

  3. Data and APIs

    • PostgreSQL
    • Metadata service and order bookOn-chain and off-chain listings
    • REST APIWith an npm client and SDKs

  4. Apps

    • Next.js NFT marketplaceExplorer pages for collections and tokens
How Web3 Indexer turned Ethereum events into a marketplace

Services behind this work

Security and quality

  • Chain reorganizations are handled, so the index follows the canonical chain.
  • The transfer count was checked against Dune in Dec 2023: a 99.98% match.

Outcome

Web3 Indexer indexed 265.7 million NFT transfers before we retired it in 2024.

We exhibited it at the World Blockchain Summit.

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