Introduction

ORCA is a decentralized exchange that offers low fee for swaps on Solana. It also bridges Solana with other blockchains.

This dashboard examines how ORCA is successful in the user adoption. The daily number of swaps and unique swappers of OCRA will be compared to DEXes within Solana ecosystem such as Jupiter and Raydium and without Solana, Uniswap on Ethereum.

Analysis

Solana ecosystem

The graph below shows the daily number of unique swappers on ORCA and three other DEXes on Solana.

We can see the remarkable growth of ORCA's users since March 2022.

The dominance of ORCA also correlated with the decline of Raydium.

In terms of the number of swaps the data shows that still Jupiter has the highest amount of swaps.

Setting aside Jupiter, ORCA has also shown a growth in the number of users since April 2022.

ORCA vs Uniswap

The graph below shows the daily number of unique swappers over time.

We can see that while the number of swappers on Uniswap is decreasing, the daily number of swappers on ORCA has spiked since two months ago.

What can explain this increase in adoption?

The graph below shows the top 5 tokens to swap in terms of amount on daily basis.

We can see that since March 2022 , two swap pairs have been popular in terms of amount of swaps: USDC-mSOL, and USDC-gst.

The data shows that huge number of ORCa users interacted with GST, STEPN token. StepN is a Solana-based Web3.0 lifestyle app with Social and Gamification elements has become very popular recently. This can be one explanation for the successful user adoption rate of ORCA.

The graph below also shows the same pattern in the number of swaps. The number of swaps on ORCA is sharply growing, while it is gradually declining on Uniswap.

But the cause of this growth should not be limited to the integration of gst or STEPN.

ORCA itself provide a better user experience in comparison with its competitors. The graph below compares the success rate in ORCA swapping to Jupiter's.

We can see success rate on ORCA is significantly better than Jupiter and it is improving.

Conclusion

The data shows a significant rapid growth of ORCA in terms of number of adopters and swaps.

The reason behind this can be twofold:

• the integration of StepN and GST swapping into ORCA.

• the good user experience in ORCA comparing to the other DEXes.