Introduction🚩

What Is Avalanche (AVAX)?

Avalanche (AVAX) is a cryptocurrency and blockchain platform that rivals Ethereum. AVAX is the native token of the Avalanche blockchain, which—like Ethereum—uses smart contracts to support a variety of blockchain projects.

The Avalanche blockchain can provide near-instant transaction finality. AVAX is used to pay transaction processing fees, secure the Avalanche network, and act as a basic unit of account among blockchains in the Avalanche network.

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What is the Question?🚨

What's going on with Avalanche?

This is an open-ended bounty, what we call a Free Square, and it’s an opportunity for you to show us what you’ve got.

Any topic is fair game; The goal here is to explore the data in creative ways and show off your explorations with visualizations (or even a tool/frontend if you’ve got eyes on the grand prize).

Analyzed Topics:

1. Overall Swap Data
2. Swap FROM Assets
3. Swap TO Assets
4. Top Contracts
5. Transfer Activity

Method⚡

In this dashboard, i take a general look at Avalanche chain and analyzed some metrics from it like its swap activity, top contracts and a slight look on transfer activity on November 2022 with an eye on FTX’s collapse that happened in early November (Nov 7th).

I mainly used ==Avalanche.core== and ==Avalanche.sushi== databases provided by Flipsidecrypto. I analyzed 3 specific platforms on Avalanche Network with their contract addresses:

==“0x60aE616a2155Ee3d9A68541Ba4544862310933d4”== for Trader Joe,

==“0xe54ca86531e17ef3616d22ca28b0d458b6c89106”== for Pangolin,

==“0xdef171fe48cf0115b1d80b88dc8eab59176fee57”== for Paraswap.

Data analyzed Since the beginning of November 2022 ==(2022-11-01)==

Dashboard made on ==2022-11-29.==

Findings👀

• As we see in this section, Trader Joe is the most popular and biggest platform that built on avalanche chain so far.
• In past month, Trader Joe accounted over 75% of all stats among other 2 platforms such as number of transactions, users and transaction fee.
• These platforms recorded a slight spike on early November around FTX’s collapse that happened on November 7th.
• Over 74K users recorded over 295K transactions in past 30 days so far with a volume of over 20.5M on Trader Joe.
• In these 3 platforms, Trader Joe is in the lead in terms of stats that i analyzed followed by Pangolin in the second place and Paraswap in the third place respectively.
• These platforms didnt experience any serious movement on their stats in past 10 days and crypto market was quiet.

1. Overall Swap Data

2. Swap FROM Assets

Findings👀

• Avalanche platforms recorded their highest FROM swap volume on November 8th 9th and 10th, the days after FTX’s collapse.
• Suprisingly, Paraswap recorded more swap volume than Trader Joe on those 3 days that i mentioned, this platform recorded over 13M swap volume in just those 3 days, almost half a million more than Trader Joe.
• USDC and WAVAX were the most FROM swapped token on Trader Joe, Pangolin and Paraswap.

3. Swap TO Assets

Findings👀

• Avalanche platforms recorded their highest FROM swap volume on November 7th 8th and 9th, the days after FTX’s collapse.
• USDC is the most popular token to swap on Trader Joe and Paraswap and WAVAX is the most popular one on Pangolin in last 30 days.
• USDC, WAVAX and USDC.e were the most TO swapped tokens on the days after FTX’s collapse.

4. Top Contracts

Findings👀

• Same here, we see that most of the transactions that has recorded on multiple contracts were on its highest on Nov 8,9,10 and most of them were for trader joe.
• Trader Joe was the most popular contract on avalanche chain with over 280K transactions in November followed by Chickn with over 158K and Circle with over 100K.
• Avalanche bridge recorded some serious movements on number of transactions, users and transaction fees in recent days and it is coming to compete with others on stats.

5. Transfer Activity

Conclusion💡

• Avalanche Network recorded its highest number of activity on November 8,9,10, the days after FTX’s collapse, seems like so many users swapped their assets on avalanche platforms such as Trader Joe and Paraswap.
• USDC and WAVAX were the most swapped tokens and the most popular tokens to swap on avalanche network platforms especially on the days after FTX’s mess.
• Trader Joe was the most popular contract on avalanche chain with over 280K transactions in November followed by Chickn with over 158K and Circle with over 100K.
• FTX’s collapse did some serious damage on the whole crypto market and tokens experienced a price downturn during that awful days, AVAX’s price the avalanche native token dropped too after November 7th. Although AVAX’s price was dropping on early November, but its transfer volume was increasing and recorded its highest transfer volume on November 8th with almost 144M transfer volume over time.

Author: Sbhn_NP

Discord : Sbhn_NP#8717

Twitter : Sbhn_np

Instagram : Sbhn_NP

Thanks for your time!

What Happened to FTX?

Alameda specialized in big bets on crypto companies. To finance those bets, SBF courted investors with promises of high returns and zero risk, which sounds dumb in retrospect but plenty of rich people believed it at the time. FTX was, until recently, the world’s fifth-largest exchange. It had its own token, FTT, which functioned like a loyalty program for customers, giving them perks like discounted transaction fees. But FTT was also bought and sold like a normal token, once trading for as much as $80. (Today, it’s around $1.50.) FTX minted tons of this highly valuable yet extremely imaginary money—there are currently about 300 million FTT tokens in circulation—and reportedly used it as collateral to take out loans for Alameda. This was dangerous because if the price of FTT fell below a certain level, it would leave Alameda unable to pay back its lenders. (When the entire crypto market slumped earlier this year, people were mystified to see FTX bail out several failing companies. SBF may have been trying to prevent those companies from selling their FTT at a discount.)

In early November, CoinDesk reported that two-fifths of Alameda’s $14.6 billion balance sheet was held in FTT, sparking panic among FTX customers, who were aware that problems at Alameda could mean problems for the exchange. Changpeng Zhao (a.k.a. CZ), the CEO of rival exchange Binance, dumped 23 million FTT, sending its price into free fall. Twisting the knife, CZ announced a tentative deal to buy FTX, then abandoned it after finding too many holes in the company’s finances. One reason for those holes, according to Reuters: SBF had created a secret backdoor in FTX’s bookkeeping system that allowed him to move depositors’ money off the exchange to Alameda without alerting customers or most of his own employees. Oh, and another plot twist: Turns out SBF had given himself a $1 billion personal loan out of Alameda’s coffers.

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