Try Quests to earn NEARComparing The Top Projects: Ref.Finance vs Jumbo
Overview
Near is a L1 blockchain aiming at providing the ideal environment for dAPPs by overcoming some of the limitations of competing chains—such as low throughput, low speeds, and poor cross-compatibility.
One of the important sector of any blockchain is DEXes. DEXes make trading in decentralized way possible. Also they facilitate Decentralized Finance by offering pools for lending and borrowing.
On the NEAR blockchain, number of DEXes operates. Two top DEXes are Ref.Finance and Jumbo according experts commentary.
This dashboard present comparison anlaysis on the healthiness of these DEXes regarding Swapping.
Ref Finance is a community-led, multi-purpose Decentralized Finance (DeFi) platform built on NEAR Protocol (Source). In addition to trading, Ref offers pools, farming and governance voting. The platform was launched on September 2021. So far, about 1,24M Swaps have been executed on Ref.finance.
Built natively on NEAR, Jumbo is designed to be the most user-friendly exchange that sets out to eliminate the common struggles people experience when navigating DEXes (Source). Jumbo was launched in March 2022. So far, about 83,7K swaps have been executed on Jumbo.
In this dashboard, first, we will present changes over time in NEAR price and the number of transactions on NEAR as a base for analysis.
Then, we will go on to providing analysis on healthiness of the two DEXes focusing on the following metrics:
- The number of swaps
- The number of traders (trader is define as the wallet who signs the swapping transaction)
- The volume of swaps
- The average swap volumes
- The number of active pools (active pools is defined the pool which are used for at least a swap in a certain time period.)
To have different perspectives you can use parameterization integrated in this dashboard. Using variables above you can set the interval (daily, weekly and Monthly) basis of the graphs and you can define the time period of your choice using number of last days.
Graph below shows how the price of NEAR and the number of transactions on NEAR has changed over time.
We can see that NEAR price has dramatically decreased since September 2022. The decreasing trend was started from the beginning of April 2022. The number of transactions after a peak in mid-September started a slight decreasing trend.
The scatter plot does not show a strong correlation between the NEAR price and number of transactions.
Graphs below show overall the dominance of Ref.finance comparing to Jumbo.exchange.
As the graph next to this box shows ref-finance started offering swapping earlier than Jumbo and continued with an almost constant steep. However, the initial rapid growth of Jumbo did not continue.
Interestingly volume of swap difference is much greater than the number of swaps and number of traders difference.
Average swap in both ref.finance and Jumbo is growing, however, overall, number of unique traders is decreasing.
Number of active pools on ref.finance reached 140 pools at its peak. However, on Jumbo, in the most active day only 32 pools were used.
This dashboard presents some metrics measuring the healthiness of ref.finance and Jumbo DEX.
The data shows that:
- There is no strong correlation between NEAR price and the number of transactions on NEAR.
- However, the use of DEXes are more correlated with NEAR price rather than number of transactions.
- Ref.finance as an established DEX on the NEAR protocol has a sustained performance and popularity.
- On the other hand, Jumbo rather newly-launched DEX has not experience a constant growth in the more than half a year.
- The average swap volume in both DEXes are growing. However, for ref.finance is more considerable.
- Active pools reached at its peak in May 2022.