Bounty Brief:

• AlgoDex launched on Feb 9, 2022, let's look at the performance of AlgoDex's first day:

  • How many buys and sells occurred in the first 24 hours?
  • How many orders were fullfilled? How many weren't fulfilled?
  • What was the total algo volume?

What is 'AlgoDex' ?

What are it's features ?

Algodex is a highly decentralized marketplace with the orderbook completely on the Algorand blockchain itself. Website

Official Launch Date

• As per their site blog/update the official launch date was/is 10th Feb 2022.

• All panels below assume 10th Feb 2022 as the date for analysis.

Launch Day Analysis!

Analyst's Notes:

• All orderbook limit orders exist in the orderbook as an 'escrow' account holding the users funds until a matching trade is found or the user cancels the order.
• All new orders are executed against the existing limit orders. If a new order is NOT fully filled, it enters the orderbook as a limit escrow order.
• Once the order is filled/cancelled the appropriate funds are transferred back to the User.

• As the mainnet/other transactions were still happening prior to launch, the dashboard ensures the transactions/orders being analysed were all OPENED during the first day, ie 10th Feb 2022.
• This would avoid anomalies and confusion.

• An escrow order interacts with the orderbook via various labelled transactions:
  • open: The txn that adds the order to the orderbook
  • execute_partially: Transactions taking place via the escrow but not sufficient to FILL the order
  • execute_filled: The transaction where the order is filled/satisffied and closed. Funds transferred back to User.
  • close: The transaction where the User force closes/cancels the order. Funds transferred back to User

• Using the above state info from the escrow acccount, we can accurately get the ORDER details!

Analyst's Notes

• Quite a high majority (~48%) of orders never filled but were left open for the day!
• A quarter of the orders seem to get canceled...Maybe the Users wanted to change their limits/prices or other constraints