Stablecoin Swappers

    Introduction

    what is the benefit from swapping on thorchain?

    The ability to swap Layer 1, or native, assets across multiple chains

    what are the on thorchain?

    These assets collateralized representation of an asset on thorchain, and will always have the same value as the original asset and backed by thorchain Liquidity Pools

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    Method

    1. the data of USDC and BUSD swapping and swappers (overall and daily) provided with help of flipside_prod_db.thorchain.swaps table

    2. for swap rate, I divided the cumulative count of swaps by the number of past days, for example this code is for BUSD:

      select 'BUSD' AS pair, DATE_TRUNC ('day' ,BLOCK_TIMESTAMP ) AS Day, ROW_NUMBER() OVER (ORDER BY Day) AS Day_number, SUM(count(*)) over (order by date_trunc('day', BLOCK_TIMESTAMP))/Day_number AS Swap_rate from flipside_prod_db.thorchain.swaps where TO_ASSET='BNB.BUSD-BD1' or FROM_ASSET='BNB.BUSD-BD1' group by 2 order by day

    3. for Synthetic Assets stats, I did what I did for original asset but here the name of assets is different from the first step, for example:

    original asset : BNB.BUSD-BD1 Synthetic Assets : BNB/BUSD-BD1 4. for calculating the change after including only Synthetic Assets, I used this formula :

    1-(value of Synthetic Assets/value of all)*-100

    Questions

    1. What is their volume and swap rate?
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    Info about the figure on the right side:

    1. the ATH of BUSD swap volume was on May 10, 2022 with 43.978M BUSD
    2. the ATH of USDC swap volume was on Jun 22, 2022 with 3.180M USDC
    3. there are missing data between Jul 7, 2021 and Oct 21, 2021

    Info about the figure on the right side:

    1. the ATH of daily BUSD swappers count was on May 10, 2022, with 458 swappers
    2. the ATH of USDC swappers count was on Jun 22, 2022 with 340 swappers
    3. there are missing data between Jul 7, 2021 and Oct 21, 2021

    Info about the figure on the right side:

    1. the ATH of daily BUSD swap count was on May 12, 2022, with 15.269K swaps
    2. the ATH of USDC swap count was on Jun 22, 2022 with 340 swaps
    3. there are missing data between Jul 7, 2021 and Oct 21, 2021
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    Info about the above figures :

    in above figures, we present the 10 swappers by volume of swaps for both of BUSD and USDC

    • for USDC the top swapper is 0xf841a830cd94f6f00be674c81f57d5fcbbee2857with about 15.758M USDC
    • for BUSD the top swapper is bnb1rv89nkw2x5ksvhf6jtqwqpke4qhh7jmudpvqmj with about 314.644M BUSD
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    Info about the figure on the right side:

    1. there is continues increase in swap rate of BUSD

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    2. current value of swap rate is 3625.230769 swap for each day

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    Info about the figure on the right side:

    1. there was continues increase in swap rate of USDC until Jul 16, 2021 then the decrease of swap rate begun

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    2. current value of swap rate is 43.201893 swap for each day

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    Info about the table on the right side:

    1. unlike the original assets, for Synthetic Assets not only the difference between BUSD AND USDC is not very much also the swap count of USDC is much higher than BUSD number

    Info about the table on the right side:

    1. if we compare the stats of original asset with Synthetic Assets we see there is huge drop in all the stats numbers except swap count and Volume of USDC

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    2. the swap count of Synthetic USDC increased by 850%

    3. the swap volume of Synthetic USDC increased by 89.5%

    Conclusion

    1. count of swappers that swap with BUSD is about 3x the USDC number
    2. the ATH of daily BUSD swappers count was 458 swappers
    3. the ATH of USDC swappers count was 340 swappers
    4. there is continues increase in swap rate of BUSD
    5. for Synthetic Assets, there is not much difference between BUSD AND USDC stats
    6. Synthetic Assets USDC has higher swap count then original due to native fee

    Info about the table on the right side:

    1. as we could predict, there is huge difference between stats numbers of USDC and BUSD
    2. count of swappers that swap with BUSD is about 3x the USDC number
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