Try Quests to earn cryptoDEX Popularity: Tinyman, Algofi, Pactfi
Do we see a change in the number of wallets swapping on these DEXs? Do we see a change in the volume of ALGOs being swapped on Tinyman and the other DEXs? Are ALGO whales swapping on certain DEXs more than others? Have we seen the recent price change in ALGO impact the number of swaps/wallets/volume on the DEXs? If so, how?
A decentralized exchange (a DEX) is a peer-to-peer marketplace where transactions occur directly between crypto traders. DEXs complete one of crypto's core possibilities: fostering financial transactions that aren't officiated by banks, brokers, payment processors, or any other intermediary.
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Tinyman is a reimagined decentralized trading protocol using the fast and secure framework of the Algorand blockchain to build an open and safe marketplace for traders, liquidity providers, and developers.
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Algofi is a fast, low-cost crypto lending market on the Algorand blockchain that makes decentralized lending extensively accessible. Algofi seeks to be the first crypto-native bank that bridges the gap between traditional and decentralized finance.
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As one of the most user-friendly Algorand dApps, Pactfi is a mobile-first designed trading experience offering deep liquidity and low transaction fees. With accessible, intelligent contract functionality, transactions on Pact are available to users of all levels of wealth and adventure.
To find the number and users on each dex, I used algorand.swaps table.
Note:
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All data shows the time over the last 90 days.
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whales: I filtered the top 2000 wallets that hold the most Algo on their wallets.
This chart shows the number of users who swapped on each dex.
Tinyman had the most swaps based on daily time. In the second palace, Algofi had the most trades.
- May 12th: The most number of users was on this day.
Tinyman: on this day, around 72k users swapped.
Algofi: 35.74k users swapped Algo.
Pactfi: Around 23k users swapped Algo on this day.
Note: The total users who swapped Algo on these three dexes were the most on this day.
But the number of users on Tinyman and Algofi was the most on May 11th.
This section shows the percentage of users who swapped on each dex. As a result of this part, 75.9% of users swapped Algo on Tinyman, 16.7% of users belong to Algofi, and just 7.36% used Pacfi.
This part aim is answering the second question about this bounty.
- Tinyman: The most volume of Algo which had swapped was on May 11th with 31.14k. On this day, one of the most popular Nfts (Metapunk) on Algorand announced their partnership with Tinyman on Twitter. I think it caused Algo volume on this day to increase.
In total, the volume on Tinyman changed so much.
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Algofi: The most volume of Algo on Algofi was on May 11th with 12.73k.
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Pactfi: The volume of Algo on Pactfi was the most on May 11th.
Conclusion: On May 11th, the cryptocurrency was shocked by the Luna problem, so this might be caused the volume to increase
This chart shows the volume of total Algo on each dex in USD. As its obvious, the most volume Algo in USD belonged to Tinyman.
This chart shows the average price of Algo in USD each day. I compare the average price with the number of transactions on each dex to determine if the price changed how the transactions number acted.
On May 11th, when we had the most number of transactions in total dexs, the price of Algo decreased.
In conclusion, if the value of Algo went down, the number of transactions might be increased.
I filtered the top 2000 wallets in each dex, as I mentioned before. Tinyman had the most whales with 58k, and in second place, Algofi had 43.55 whales.
