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Meteora, a leading player in the fast-paced realm of decentralized finance (DeFi), is renowned for its innovative and liquidity empowerment solutions within the Solana blockchain ecosystem.
The company's core mission is to develop a robust suite of DeFi primitives that not only enhance liquidity but also harness the full potential of Solana's capabilities. In this analytical dashboard, we delve into the transactional data within the Meteora ecosystem, offering a comprehensive view of its performance, user engagement, and the dynamic landscape of liquidity management.
By examining these insights, we aim to explore Meteora's vital role in shaping the future of decentralized finance on the Solana blockchain.
Pools Method:
For the pools, I used the Dune database to extract information about activities around the Meteora pools. Dune has decoded tables for Meteora pools, so I extracted the data and imported it into Flipside using a live query. Then, I calculated the volume in USD by joining it with the Sol price table. There were some tokens that weren't available on the Sol price table, so I used the Coingecko live query to extract the price of those tokens.
The only thing left was token labels, which I obtained using DIM token labels to extract token names.
During the digging queries, I found that some of the pools didn't have data for token A and token B. So, I used hardcoding to fill in the missing data. Overall, I successfully extracted data for all available pools. I only excluded the pools with multiple tokens because it was cumbersome to include them all in the same dashboard.
Valuts:
I did the same thing for vaults and LST tokens. Due to the heavy data on Dune, I calculated the basic parameters on Dune and then implemented them with Flipside tables using live queries.
You can find the Dune query in the link below:
https://dune.com/queries/3070389
As part of Meteora's mission to develop a comprehensive suite of DeFi primitives to boost liquidity across the Solana blockchain, analyzing transactional activity within this ecosystem is imperative.
To this end, it has been observed that there have been approximately 4,970 transactions relating to adding liquidity and about 1,610 transactions relating to removing liquidity on Meteora.
This information can provide valuable insights into the platform's performance.
Meteora has seen the participation of 772 users who have added liquidity to its various pools, indicating a diverse user base actively contributing assets to enhance liquidity in the Solana DeFi landscape.
Conversely, 492 users have engaged in removing liquidity from Meteora's pools, reflecting the user-driven dynamics of liquidity management and the flexibility offered within the DeFi environment.
The liquidity pools of Meteora have been the recipients of a notable commitment from its users, as reflected by the capital influx and withdrawal activities. A significant increase in funds inflow was recorded during the week starting on July 10th, with the highest weekly USD volume for adding liquidity reaching 2.13 million USD. On the other hand, the highest weekly USD volume for liquidity removal was recorded starting September 11th, with 624,000 USD withdrawn.
The cumulative amount of capital added to the liquidity pools was recorded at 11.13 million USD, while approximately 5 million USD was withdrawn, indicating active liquidity management and capital withdrawal activities. The average weekly volumes for adding and removing liquidity were 1.6k USD and 2.44k USD, respectively.
The week starting on July 10th was particularly noteworthy, as the highest net funds inflow was recorded during this time, amounting to 2 million USD. Net is defined as the added liquidity in USD minus the amount withdrawn.
The average percentage change in USD volume per month indicates a consistent decrease of 8%. This suggests that, on average, the platform has experienced a decline in monthly trading volume over the observed time frame.
Conversely, the average percentage change of users per month shows a robust increase of 20.5%. This signifies strong and steady growth in the user base of Meteora over each month, reflecting a growing community of participants in the Solana DeFi ecosystem.
In the month of August, the platform experienced a substantial influx of new users, with 172 individuals joining the Meteora community.
In the more recent context, over the last 30 days, Meteora has seen the addition of 147 new users.
When evaluating the performance of liquidity pools within Meteora's DeFi ecosystem on Solana since February 2023, one standout pool in terms of positive net activity is the Jitsol-sol pool.
This pool has achieved a remarkable net positive volume of 1.56 million USD during this period.
The positive net is derived from a substantial addition of liquidity, totaling 2 million USD, and a comparatively smaller volume of 521,000 USD removed from the pool.
In the analysis of Meteora's DeFi ecosystem on the Solana blockchain since February 2023, several liquidity pools have demonstrated their prominence across different key metrics. Notably, the bsol-sol pool has emerged as the leader in terms of user engagement, with an impressive 264 users actively participating in this pool to provide liquidity. Following closely, the Jitsol-sol and stSol-sol pools have also attracted substantial user interest, with 93 and 90 users, respectively, engaging in liquidity provision within their respective pools.
In contrast, when considering the added liquidity volume as a measure of performance, the Jitsol-sol pool has stood out as the top performer, accumulating a substantial 2 million USD in added liquidity since February 2023. It is closely followed by the USDTet-usdt pool, which recorded 1.99 million USD in added liquidity, and the bsol-sol pool, with 1.87 million USD added.