Introduction

for sure the goal of every Defi project is to attract crypto users to provide liquidity and do swaps or other Defi actions.

Velodrome goal is the same as described and their goal is to incentivize users to their platform.

Velodrome which is a platform on Optimism, has a lot of useability such as swap, pool, vest and so on.

in this dashboard we will analyze Velodrome platform to check it’s health.

health for Defi platforms can have several definition base on what that platform does.

we in this dashboard check three metrics for Velodrome to track it’s health.

1. users
2. number of transactions
3. TVL

Methodology

we have used optimism.velodrome tables such as ez_swaps and ez_staking_actions to find the data we want.

for example for finding user’s part, we should look for all tables that may contains users and so on.

for each part table used will be describe too.

Analyze

base on 3 metrics that we will discuss in the next parts we have made some charts that we will track Velodrome health by them.

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1.Users

as said the main goal of Defi platforms and for Velodrome too is to incentivize users to use their platform.

so more users means that the platform is doing well on it’s way.

if users see a platform useful, they will use it and tell other users about it.

so one of the best metrics to check if a platform is healthy, is to find it’s users and user growth.

we have used ez_lp_actions and ez_swaps and ez_staking_actions and also ez_velo_locks tables to find and track users growth in Velodrome.

all crypto users are not the same and they have not the same goals in crypto so that’s why that a user may just visit Velodrome to lock his Velo tokens and one may use it just for cheap swaps. so that the reason that we have used all above tables to make sure to count all kind of Velodrome users.

above chart shows number of unique users for all main actions on Velodrome.

we have also added cumulative unique users over time.

in almost all days number of unique users that do swap are more than other action’s users.

also if we track number of users for each action we see a increasing trend for unique users growth per day.

as cumulative unique users shows too, Velodrome users are growing every day and it is a very positive sign of Velodrome health.

Above chart is the same as previous but it has calculated all unique users for each action in a single row.

in order to find any progress we have made this chart.

as we see from July there is a increasing trend for unique users per day.

as said unique users growth is a very positive sign of platform health.

also this chart shows total unique users for each action.

as we see number of unique users that have used swap function of Velodrome are more than other actions.

also this shows another sign of being healthy of Velodrome. because users see Velodrome’s swap useful and are using it as a Defi platform.

2.nunber of transactions

our second health metric for Velodrome health is to check it’s number of transactions.

as said when users see a platform useful, they will use it over and over.

so number of transaction growth is another good sign for a platform which shows it is healthy.

in this part we have find number of transactions and track them over time to check for any trend might be.

above chart shows Velodrome’s number of transactions per day.

we have also added cumulative number of transactions.

on the chart we see that from July there is almost an increasing trend for number of transactions per day.

so for Velodrome number of transactions per day are growing and it is a posivite sign that shows Velodrome is a healthy platform.

because it it’s not, users won’t use it any more and number of transaction would decrease per day.

we also should keep this is my mind that we are some how in Bear market and still number of transactions are increasing per day.

if market was in a different situation definitly things would change.

by the way this metric too tell us that Velodrome is healthy.

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3.TVL

another important metric for every Defi platform is TVL.

TVL which stands for total value locked is a very important metric in Defi.

if users trust and likes a Defi platform they will lock their assets in it. and TVL growth shows a healthy platform.

so lets see Velodrome’s TVL over time.

as said swap amounts are not a part of TVL.

but we have found swap volume, which we calculated swap from + swap to by USD amounts, per day.

also there is cumulative swap volume on the chart too.

as we see from July volume of swaps are increasing per day and it shows that volume is increasing.

so swap volume shows that more users are swaping on Velodrome with more volumes per day.

and it is also a positive sign of Velodrome health for sure.

Result

we have used 3 metrics in this dashboard to check if Velodrome is healthy.

1. number of unique users per day shows a increasing trend and a daily growth.
2. number of transactions per day is increasing per day.
3. TVL volume per day is increasing too.

all 3 metrics above shows that Velodrome is a health platform.

for above chart we have founded deposit actions for ez_lp_actions table and also for ez_velo_locks table too.

TVL amount on the chart is base by USD.

because in Velodrome users can provide liquidity and also the can lock their Velo tokens too so we have find these actions and count them as TVL over time.

from July we see a growth in TVL per day again.

as cumulative TVL is shows too, it shows a growth per day too.

so when TVL per day is increasing it definitly tells us that Velodrome is healthy and users are depositing their assets day by day.

as swap volume and amount are not counted as TVL for a platform but it’s also good to know about swaps too.

in the next chart we have showed some data about swap volume too.