-DAI Usage-
DAI (Dai Stablecoin) is a cryptocurrency that is designed to maintain a stable value relative to a specific asset or basket of assets, typically the U.S. dollar. It is an ERC-20 token that runs on the Ethereum blockchain, and its value is backed by collateral in the form of other cryptocurrencies that are held in smart contracts.
The stability of DAI is maintained through a system of incentives and penalties that encourage holders of the token to take actions that help maintain its price stability. For example, if the price of DAI falls below its target value, users can purchase it and sell it back to the system at a higher price in order to earn a profit. Conversely, if the price of DAI rises above its target value, users can sell it back to the system and earn a reward. This mechanism helps to ensure that the price of DAI remains relatively stable over time, even as the values of other cryptocurrencies may fluctuate significantly.
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The 'ethereum.core.fact_token_balances' table is used to gather data related to token holders and their respective balances. The 'ethereum.core.ez_dex_swaps' table is used to gather data related to monthly swap transactions between DAI and other tokens. Lastly, the 'ethereum.core.ez_nft_sales' table is used to gather data related to NFT sales that involve DAI.
For token holders, the code filters data from the 'ethereum.core.fact_token_balances' table where the contract address is '0x6B175474E89094C44Da98b954EedeAC495271d0F', which is the address for the DAI token. The query only considers token holders with a positive balance as of the current date minus 1 day.
For the number of unique holders, balance, average balance, median balance, maximum balance, and minimum balance, the code first creates a temporary table 'tb1' using the 'ethereum.core.fact_token_balances' table, where the balance is divided by 10^18 to convert it to a readable number. The query then filters data from the 'tb1' table where the contract address is '0x6B175474E89094C44Da98b954EedeAC495271d0F' and the balance is positive. The query groups data by day and calculates the requested metrics.
For monthly swap transactions between DAI and other tokens, the code filters data from the 'ethereum.core.ez_dex_swaps' table where the input token symbol is 'DAI,' and the transaction is within a range of $1000 from the output amount. The query considers swap transactions that occurred within the last 365 days.
Holders
Based on the information provided, we can infer that the number of DAI holders has decreased by approximately 65.4% from the highest number on May 12th, 2022, to the current total of 1770. This significant decrease in the number of DAI holders could indicate a lack of confidence in the stability of the cryptocurrency or a shift in investor sentiment.
We can see that the current balance of DAI held by all holders is 1.74 billion. Prior to May 4th, there was a noticeable decrease in the balance of DAI held, with the highest balance occurring on March 7th at 6.12 billion.
After May 4th, the balance of DAI held decreased significantly, reaching a low of 1.50 billion on February 18th, 2023. This represents a decrease of approximately 75.4% in the total amount of DAI held by all holders.
Balance
New users
Based on the data provided, we can see a significant increase in the number of new users of DAI between March 2022 and March 2023. In March 2022, the cumulative number of new users was 34.66k, which increased to 351.30k by March 2023. This represents an overall increase of approximately 917%.
The highest number of new users occurred in November 2022, with 36.211k new users joining the network.
Monthly Overview
Swap From and to DAI
The data provided indicates that DAI is being used extensively for swap transactions in the cryptocurrency market. The total number of swap transactions from DAI was 613.33k, while the total number of swap transactions to DAI was 612.40k. These numbers imply that DAI is being utilized as both a source and a destination currency for swap transactions.
The highest number of swap transactions occurred in September 2022, with 71k swap transactions from DAI and 72.49k swap transactions to DAI.
DAI is being utilized frequently for swap transactions in the cryptocurrency market. The total number of users who had swapped from DAI was 613.3k, whereas the total number of users who had swapped to DAI was 612.40k. This indicates a near-equivalent level of activity involving DAI as both a source and a destination currency for swap transactions.
The volume of DAI swapped from DAI transactions was 12.42 billion, which is higher than the volume of DAI swapped to DAI transactions, which was 11.90 billion.
This data demonstrates the increasing adoption and usage of DAI as a reliable and stable cryptocurrency for trading and investment purposes. Moreover, the higher volume of swaps from DAI transactions suggests that DAI is being used as a preferred cryptocurrency for exchanging with other cryptocurrencies.
Transactions
Users
Volume
Top Swapped Tokens
Swapper breakdown
Most users who engaged in swap transactions from DAI or to DAI swapped between 1k and 10k. Specifically, the total number of users who swapped from DAI between 1k to 10k was 41.38k, while the total number of users who swapped to DAI between 1k to 10k was 41k. This suggests that the 1k to 10k range is the most common for swap transactions involving DAI.
Platforms
Monthly Top 3 platforms
Top 15 Platforms
Based on the DAI volume, the top 15 platforms are dominated by Uniswap and Sorbet Finance. Uniswap ranks first with a DAI volume of 411.47 billion, which is 42.7% of the total volume of the top 15 platforms. Sorbet Finance comes second with 399 billion DAI volume, accounting for 41.4% of the total volume of the top 15. Makerdao ranks third with 54.83 billion DAI volume, representing 4.76% of the total volume of the top 15. The remaining 12 platforms in the top 15 are 1inch, Curve FI, Coinbase, Balancer, Aave, 1inch.exchange, 1inch network, Compound, Instadapp, Binance, Mev bot, and DLP.
According to the data, Uniswap was the platform with the highest number of transactions, totaling 533k and representing 35.8% of the top 15 platforms. Coinbase was the second most popular platform for swap transactions, with 161.60k transactions, representing 10.8% of the top 15. Binance and Metamask followed closely, with 155.2k (10.4% of the top 15) and 88.3k (5.93% of the top 15) transactions, respectively. These results show that Uniswap is the most widely used platform for swap transactions, followed by centralized platforms such as Coinbase and Binance and decentralized wallets like Metamask.
Chain
The Polygon chain has recorded the highest number of transactions involving DAI, with 14.47 million transactions, which accounts for 60% of all transactions involving DAI across all chains. Following closely is the Optimism chain, with 3.32 million transactions, while the Ethereum chain records 2.58 million transactions. The BSC chain recorded 0.9 million transactions, while the Arbitrum chain recorded 1.67 million transactions. The Avalanche chain recorded the lowest number of DAI transactions, with 727.6k transactions.
Analyzing the data on chains based on the number of users who used DAI to make transactions, it can be observed that the majority of the users (53%) were on Polygon, with 1.62 million users. Ethereum was second on the list with 466.7k users, followed by Optimism with 407k users. BSC had 257.7k users, while Arbitrum and Avalanche had 236.2k and 77.78k users, respectively. This data indicates that Polygon was the most popular chain among DAI users regarding the number of users who made transactions.
Analyzing the data on Chains based on DAI volume, it can be observed that Ethereum has the highest DAI amount with 1.17 trillion, which accounts for 89.7% of all chain volume. This suggests that Ethereum is the most popular chain for DAI-based transactions and is being used extensively for transactions involving this digital currency.
The second highest DAI volume belongs to Optimism, with 59 billion, representing 4.5% of the total DAI volume across all chains. Avalanche is ranked third, with 44.8 billion in DAI volume, accounting for 3.4% of the total volume. Polygon follows in fourth place with a volume of 17.17 billion, representing 1.3% of the total DAI volume on chains. Binance Smart Chain (BSC) and Arbitrum have the fifth and sixth highest DAI volume, with 8 billion and 5.8 billion, respectively.
Transactions
Users
Amount
NFTs
In August 2022, there were 120 NFT sales made using DAI, which represents the highest number of sales using DAI in any given month. In March 2022, there were 126 sellers of NFTs, which is the highest number of sellers for any given month. The highest number of buyers for NFTs in a single month was in August 2022, with a total of 68 buyers. November 2022 saw the highest volume of DAI used in NFT transactions, with a total of 52.80k DAI transacted. Finally, the highest average price of NFTs was also in November 2022, with an average price of 2030 DAI per NFT.
Top 15 collections
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The top 15 NFTs collections can be analyzed in two different ways: the number of transactions and DAI volume.
Regarding the number of transactions, the top three collections are Ens with 144, followed by Rarible with 50, and Opensea with 32.
On the other hand, when analyzing the DAI volume, Opensea leads the list with 85.12k, followed by Parallel with 70.77k and Ens with 48.28k.
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Based on the provided data, it can be concluded that the number of DAI holders has decreased significantly by approximately 65.4% from the highest number on May 12th, 2022, to the current total of 1770. This decrease may indicate a lack of confidence in the stability of the cryptocurrency or a shift in investor sentiment.
However, there has been a significant increase in the number of new users of DAI between March 2022 and March 2023, which increased from 34.66k to 351.30k, representing an overall increase of approximately 917%. The highest number of new users occurred in November 2022, with 36.211k new users joining the network.
Despite the decrease in DAI holders, there is growing interested in using DAI as a stablecoin or for other purposes within the cryptocurrency ecosystem. The total number of users of DAI was 467k, with the highest number in November 2022 at 68.3k users.
Moreover, the total amount of DAI used in transactions was 1.17 T, indicating that DAI is being used for large-scale transactions within the cryptocurrency ecosystem. The highest DAI amount occurred in August 2022 at 252.45 billion. The data provided indicates that DAI is used extensively for swap transactions in the cryptocurrency market, with 613.33k swap transactions from DAI and 612.40k from DAI.
The leading platforms for DAI transactions are Uniswap, Coinbase, and 1inch, with Uniswap having the most activity, with 65.46k transactions in September 2022. Sorbet finance emerged as the leading platform in terms of DAI volume, with the highest volume of 110 billion DAI in August 2022.
**Overall, the data suggests that despite the decrease in DAI holders, there is an increasing adoption and usage of DAI as a reliable and stable cryptocurrency for trading and investment purposes. \n **
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Based on the data provided, we can see that a significant number of users use DAI, with a total of 467k users. The highest number of users occurred in November 2022, with 68.3k users. This suggests that there is growing interested in using DAI as a stablecoin or for other purposes within the cryptocurrency ecosystem.
The total number of transactions that use DAI was 2.59 million in terms of transaction volume. The highest number of transactions occurred in November 2022, with 271.18k transactions. This increase in transaction volume could be a positive indicator for cryptocurrency, as it suggests that more individuals are using DAI for various transactions within the cryptocurrency ecosystem.
Furthermore, the total amount of DAI used in transactions was 1.17 T, with the highest DAI amount occurring in August 2022 at 252.45 billion. This data point indicates that DAI is being used for large-scale transactions within the cryptocurrency ecosystem, which could be a positive sign of its utility and adoption.
Based on the data provided, WETH and USDC are the top tokens being used for swaps with DAI. WETH had 98.29k users swapping to DAI and 83.29k users swapping from DAI, indicating a high demand for this token. On the other hand, USDC had a higher swap volume, with 3.95 billion DAI being swapped to USDC and 4.2 billion DAI being swapped from USDC. This suggests that while WETH may have a higher user base, USDC is being used more frequently for high-value swaps.
According to the data, the leading platforms for DAI transactions are Uniswap, Coinbase, and 1inch, with the highest number of transactions occurring in September 2022. During that month, Uniswap saw the most activity with 65.46k transactions, followed by Coinbase with 23.48k transactions and 1inch with 9.8k transactions.
When it comes to DAI volume, Sorbet finance emerged as the leading platform with the highest volume of 110 billion DAI in August 2022. Uniswap followed closely behind with almost 11 billion DAI, while Makerdao saw a volume of 4.27 billion DAI.