Try Quests to earn cryptoStart your (OP)timistic Journey in (VELO)drome
Velodrome Finance is a central trading and liquidity marketplace on Optimism. I'll explain the activity from this project and how to use this dashboard to track Swap activity using FlipsideCrypto Velodrome tables.
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With Velodrome you can swap using your wallet, for example 300 $OP for 815 $USDC at the prices from the image.
- Slippage is the difference between the current market price of an asset and the price at which the actual trade/transaction is executed.This difference could result in a smaller amount (higher price paid) or a higher amount (smaller price paid) of desired tokens returned from a trade. (Read More...)
In the swap you'll exchange your assets using Velodrome Liquidity Pools (LPs)
The protocol router evaluates both pool types to determine the most efficient price quotation and trade execution route available.
- Volatile/Variable Pools are designed for assets with high price volatility.
- Stable Pools are designed for assets wich have little to no volatiliy.
Swaps In Velodrome
Methodology
Most of the code was filter to add an usd price to all the swap data, I have to use a fix price in some cases when the hourly price isn't updated for the newer transactions so for these case I used a 2-day average to get USD values in all rows from the original table
In the future I'll create new kinds of this dashboard with the idea to be a tool to track specific activity.
Here is a transaction similar to the example using Optimism Etherscan :
- Transaction Hash is the Swap Transaction.
- From is the wallet that made the swap (Swapper)
- ERC-20 Tokens Transferred has three transfers
- And a total of six Logs
The Swap Transaction was made by 0x593eb known as the Swapper where he sold (sent) 300 OP to 0x47029... aka the VolatileV1 AMM - OP/USDC LP from Velodrome.
After the LP received the 300 OP, the LP sents two transfers, the bought (received) asset for the Swapper and the Swap Fee of 0.12 OP ($0.33)
When the Swapper receives their $USDC is when the Swap Event happens, and from these six Logs only one is a Swap event.
In this Transaction the swapper (0xc4ed...) made a single Transaction Hash with more than 117 logs, so now let's see how many swaps events are in the database!.
Using Optimism.Velodrome.ez_swaps
We get that only 9 Swaps Events happened in this Transaction Swap.
A single Transaction Swap, made 9 Swaps Events across differents Velodrome Pools so now we need to understand that:
- Each of these events counted as an individual swap for each different pool.
The Swapper Sold USDC and VELO to Bought OP and VELO.
The Swapper ended with a negative Net Balance, but it made 9 swaps for the LPs in Velodrome.
Conclusion
In the past two days most of the traffic comes from the OP/USDC Liquidity Pool, with the increase in the OP price, the activity coming from differents OP LPs is uptrending.
Like the OP the VELO activity is also higher with both LPs with USDC being the favorite in sold or bought in a Swap Transaction