Algorand - What Are Users Swapping gALGO3 For?
Analyzing the swapping behavior of gALGO3 holders
Q1: Number and volume of trades to/from gALGO3
As shown by the graphs, both the number and the volume of trades experienced a bullish trend on April 13, 2022.
The reason for such spike might be Algofi announcing the launch of their Algorand Foundation Governance Vault on the Algorand blockchain, For which users had to opt in via the Vault by April 14, 2022. [https://finance.yahoo.com/news/algofi-governance-vault-goes-live-154500182.html]
Q2: DEXes that users are swapping gALGO3 on
According to the data, gALGO3 is being swapped only on two DEXes, tinyman and pactfi. The most swaps were executed on the tinyman compared to pactifi. Also the number of swaps per DEX, logically conforms to the pattern we saw before for the total swaps to/from gALGO3.
Q3 & Q4: Most popular tokens to swap to/from gALGO3
Based on the table below, which shows the number of swaps executed from/to other assets to/from gALGO3, we can conclude that for the most part, the main asset being swapped to/from gALGO3 is the ALGO itself, with asset_id = 0. The other being swapped with gALGO3 is Yieldly, with asset_id = 226701642.