Ripae is a financial platform that joined the Optimism ecosystem few weeks ago.

In detail, Ripae is an Algorithmic Peg Token (APT) system where laws of code and maths create a token that’s purpose is to be valued the same as peg token, once equilibrium is met.

There are many benefits that Ripae Finance are providing to their joined ecosystem, some of which are convenience, versatility, and growth. High yield peg LP farming is another strong argument in favour of ASC economy. As Ripae’s ecosystem expands, more tools, products and use-cases such as tokenization, collateralization and diversification will be introduced to accelerate protocol’s interoperability and capital-efficiency even further [1].

Ripae is bound to be a cross-chain protocol with $PAE token at the core, where transferring value and ownership rights between multiple EVM chains is a seamless, secure and capital efficient. Ripae deployed on Fantom first, but the setup will be multiplied on each of the following expansion-scheduled EVM chains with tweaks that fit the particular ecosystem best.

Ripae’s Fantom implementation has 3 different tokens that are essential for the protocol to function.

• $pFTM — This token is the algorithmic peg token that is imagined to be pegged to the value of $FTM, which means that in the long run, the goal of the value of $pFTM is to be equal to the value of $FTM.
• $bFTM — Is the bond token issued as an IOU when $pFTM is undervalued.
• $PAE — Is the cross-chain token that represents a “share” of the Ripae Finance ownership in the DAO. This token is the main governance and revenue sharing token, that can be used to transfer value and gov power across chains.

The intention of this dashboard is to study the evolution of Ripae Finance on Optimism since theri launch on the past AUgust 8th October. How the platforms have been evolving around the different sectors?

The sectors to be analyzed are:

• Swapping activity
• Transfer activity
• Liquidity actions

Swapping activity

Looking at the swapping activity, we can see how it seems that the trends are not good at all. Since the inception of Ripae on August 8th, the number of swaps decreased considerably as well as the number of active swappers. In fact, if we take a look at the chart on the right side, we can see that there is a strong positive correlation between these two metrics.

Since the launch, the amount of daily swaps decreased from more than 100 during the first days to lower than 10. The same occurs with the number of swappers that decreased from around 50 to lower than 5.

Finally, the user activity has also dropped from more than 2 swaps per user to around 1.5 swaps.

Transfers activity

Considering the transfers activity, we can see how it seems that again, the trends are not good. In this case, the number of transfers and transferers increased during the first days. Howevr, after reaching a peak on August 11, the activity decreased considerably as well as the number of active swappers. In fact, if we take a look at the chart on the right side, we can see again a strong positive correlation between these two metrics.

Since the launch, the amount of daily transfers decreased from more than 300 during the first days to lower than 5. The same occurs with the number of transferers that decreased from around 50 to lower than 5.

Finally, the user activity has also dropped from more than 3 transfers per user to lower than 2 transfers.

Liquidity actions activity

Finally, looking at the liquidity activity, we can see a similar behavior than in transfers. The deposits and withdrawals spiked on August 11th but started to decrease afterthat. In terms of actions, during the first days more deposits were done but during the last days, there are more withdrawals than deposits. The same occurs with the liquidity providers.

In this case, there is also a correlation between the number of liquidity actions and the amount of active liquidity providers doing actions. In fact, if we take a look at the average liquidity actions per user, we can see how the activity decreased considerably. From the beginning of more than 2 actions per user, we have passed to practially lower than 2 per each type of action.

Key insights

• Swapping activity
  • Since the inception of Ripae on August 8th, the number of swaps decreased considerably as well as the number of active swappers. In fact, if we take a look at the chart on the right side, we can see that there is a strong positive correlation between these two metrics.
  • Since the launch, the amount of daily swaps decreased from more than 100 during the first days to lower than 10. The same occurs with the number of swappers that decreased from around 50 to lower than 5.
  • The user activity has also dropped from more than 2 swaps per user to around 1.5 swaps.
• Transfer activity
  • The number of transfers and transferers increased during the first days. However, after reaching a peak on August 11, the activity decreased considerably as well as the number of active swappers. In fact, if we take a look at the chart on the right side, we can see again a strong positive correlation between these two metrics.
  • The amount of daily transfers decreased from more than 300 during the first days to lower than 5. The same occurs with the number of transferers that decreased from around 50 to lower than 5.
  • The user activity has also dropped from more than 3 transfers per user to lower than 2 transfers.
• Liquidity activity
  • The deposits and withdrawals spiked on August 11th but started to decrease afterthat. In terms of actions, during the first days more deposits were done but during the last days, there are more withdrawals than deposits.
  • The liquidity providers and withdrawers spiked as well at the same date but decreased following a similar trend.
  • There is also a correlation between the number of liquidity actions and the amount of active liquidity providers doing actions. In fact, if we take a look at the average liquidity actions per user, we can see how the activity decreased considerably. From the beginning of more than 2 actions per user, we have passed to practially lower than 2 per each type of action.
• Pool activity
  • WETH/pETHo pool has registered more activity than the sETHo/WETH pool.
  • Even in the major of the days more users swapped in than out in each pool, the volume in and out seems to be similar.
  • For the sETHo/WETH pool, the activity seems to be stopped on October 21st, maybe some migration was done.

Overview

Methods

Pools activity

Currently, there are two main pools where Optimism users can buy or sell their pETHo and sETHo tokens.

Looking at the WETH/pETHo pool, we can see how the major of the volume was concentrated during the first days after the launch on August 2022. Afterthat, the amount started to decrease and the lowest values have been registered over the past days.

Something similar has occurred with the number of swaps done. From August to mid September, the major of the swaps were done. Now, the amount has been reduced but the netflow turned positive being more swaps in than out.

Finally, for the number of depositors and withdrawers, we can see how from the beginning until the end, more users swapped in than out but it has been reduced over time.

inally, looking at the sETHo/WETH pool, we can see how the major of the volume was concentrated during the first days after the launch on August 2022 and also during the past days. It seems that this pools has not registered any activity since October 21st.

Something similar has occurred with the number of swaps done. From August to initials September, the major of the swaps were done. Now, the amount has been reduced and during the past days no activity has been reduced.

Finally, for the number of depositors and withdrawers, we can see how from the beginning until the end, similar number of users swapped in than out but it has been reduced during the last days.