Ghost

Ghost is an R&D studio focused on blockchain infrastructure and data, operating commercially under SnowGenesis Inc. The team describes its core purpose as helping developers and protocols work with on-chain data more efficiently — through consulting, protocol research, and proprietary tooling — across both EVM chains and the Solana ecosystem.

Solana Presence: Validator and MEV Research

Ghost's most visible Solana-facing output is Sandwiched.me, a real-time MEV transparency dashboard the team built and maintains. The dashboard surfaces sandwich attack activity on Solana — tracking which validators are routing user transactions through malicious ordering, the dollar value extracted from traders, and the breakdown between different MEV types including sandwich attacks and atomic arbitrage. According to Ghost's own research, which analyzed 8.5 billion trades representing over $1 trillion in DEX volume across 16 months of on-chain history, wide multi-slot sandwiches accounted for 93% of all sandwich activity on the network by that measurement period, extracting approximately 529,000 SOL over a full year. Sandwiched.me has become a reference resource for Solana community members and researchers monitoring MEV activity and identifying which validators are participating in harmful extraction.

Alongside the dashboard, Ghost runs a Solana mainnet validator (program address HJmfKJjKiyuuxFUuXgecgD5gdD312apCpHwZt6ETuRMU) under a zero-commission structure, with the team claiming 100% uptime backed by 24/7 monitoring. The validator page describes bank-grade security, low-latency infrastructure, and open metrics reporting.

Open-Source Solana Security Research

Ghost has released two open-source tools targeting Solana DEX security and simulation:

SolFi Simulator (solfi-sim) is a Rust-based tool that uses LiteSVM to run local, black-box simulations against the SolFi DEX. It spins up in-memory simulations across four WSOL/USDC pairs captured at a specific slot, letting researchers probe SolFi pricing curve mechanics without requiring live network access. This tooling reflects the protocol research side of Ghost's practice — the firm combines black-box testing with real-time monitoring and historical chain data analysis.

Anti-Sandwich is a proof-of-concept demonstrating how Solana applications can detect at runtime when their transactions are being routed through a malicious validator and respond accordingly. Rather than relying solely on infrastructure-level mitigations, the Anti-Sandwich project explores how application-layer code can play a role in resisting MEV extraction — a distinct angle from the more common approach of using private mempools or priority fees.

At Breakpoint 2025, Ghost's Chris Chang delivered a technical talk on Solana's PropAMMs — the private automated market makers that control an estimated 90% of swap volume on the network — examining how they interact with arbitrage bots and the implications for market structure.

Cross-Chain Data Infrastructure: GhostGraph and GhostLogs

Ghost's two primary developer products operate on EVM chains.

GhostGraph is a smart contract indexing framework that lets developers write indexers in Solidity — the same language used for smart contracts — rather than a separate indexing language. Developers define entities using Solidity structs, register contracts, write event handlers, and query the resulting dataset through a GraphQL API. Ghost hosts the indexing infrastructure, and users can share, fork, and modify other developers' indexers. Supported chains include Ethereum, Base, Berachain, Monad, and Unichain.

GhostLogs enables developers to retroactively add custom events and view functions to existing smart contracts without modifying the original deployed code or its gas costs. The tool works through an in-browser IDE: users select a chain and contract address, inject custom gasless events that read from local state and private variables, and simulate the modifications against historical transactions. The platform can then backfill historical data or launch a custom RPC fork for real-time tracking. Integrated export paths connect to Dune and Flipside for downstream analytics. GhostLogs currently supports Ethereum and Base.

Services and Consulting

Beyond products, Ghost operates a consulting practice that assists teams with technology stack selection, stress-testing application designs, and architecting data pipelines. Their protocol research service conducts analytical investigations of blockchain applications using the same black-box testing and historical data methodology reflected in their published MEV work. They also offer managed data indexing — high-performance indexing systems delivering real-time, query-ready data for applications and research use cases.

Team and Background

Ghost was founded in March 2022. Chris Chang is a publicly known team member and has authored blog posts and delivered technical talks at Breakpoint 2025. The company operates at tryghost.xyz, with documentation at docs.tryghost.xyz. Community channels include Twitter/X at @0xGhostLogs and Telegram for consulting inquiries. The organization maintains public repositories under the tryghostxyz organization on GitHub.