JediSwap LP Contest Effects

    JediSwap has organized a contest for liquidity providers; anyone who provides liquidity of $25 for 30 days was eligible for an NFT. In this dashboard we are going to investigate effects of this contest.

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    Before we start some notes about the contest:

    • The contest ran for 100 days started from 17/04/23 and ended on 25/07/23.

    • The minimum requirement to be eligible for any rewards is to provide at least $25 worth of liquidity for at least 30 days.

    • Users should provided liquidity to allowed pools only, allowed pools were ETH, BTC, USDC, USDT, and DAI pools

    • There were 6 different categories these are: L1PW - Top 10 scorers; L1P1 - top 2 percent scorers(excluding Top 10 scorers); L1P2 - Scorers in the top 3 to 10 percentile range; L1P3 - Scorers in the top 11 to 25 percentile range; L1P4 - Scorers in the top 26 to 55 percentile range; L1P5 - Scorers in the top 56 to 100 percentile range

    • In total 76.7K addresses are eligible for the minting LP Contest NFT however only 48.9K of the addresses minted NFTs until today we will use these 48.9K addresses as our database.

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    At the bar graph below we are seeing Added LP amount grouped by LP Contest NFT Tier minted by users.

    • We only examined USDC/USDT/DAI/BTC/ETH pools.

    • As a reminder contest has runned between 17-04 and 25-07

    • This graph covers LP added by non-contesters

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    On the table above we are seeing 'Number of LP Contest NFT Minted (Grouped by NFT Tier's)'

    And at the graph below we are seeing 'Added Liquidity Amount by Contesters (Grouped by Pair)' as you can observe from the graph LP additions continued strongly, untill 6 weeks after the contest.

    At the graphs below we are seeing, TVL shares at different dates, first one for 17/04(beggining of the contest) second one for 25/07(end of the contest) and last one current TVL shares of LP Contesters and 'Non-LP Contesters', we are seeing domination of the whales (L1PW nft holders) in DAI pools, L1P1 nft holders domination at BTC pairs, as a reminder L1PW NFTs only for top 10 LP Contestor and L1P1 means top %2 at the contest (898 addresses has minted L1P1 NFT until the day and only 1534 addresses whitelisted fot this tier.

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    Now lets give a break and aggragate our findings, 1/3 of eligible addresses does not claimed their NFTs, probably they did not aware about the contest or just does not care. It is totally normall because there is no specific award for the contest, this is just a fun race. L1PW nft minters act smartly and distrubiting their shares among the pools for highest APR, they are with L1P1 nft minters kinda key players for JediSwap, as you can see from the graph just above, they are holding 1/3 to 1/2 of the LP amount on some of whitelisted pools. And they are so small group not more than 1000 addresses.

    • L1P5 biggest group according to it's sample size(22.5K addresses in this group), but as you can see they are invisible before the event, their share is being visible during the event (check TVL shares at 25/07) then they are being almost invisible again.

    • L1P4, second biggest group with 14.34K addresses; we are seeing their LP shares before the event, however their share goes 10X at the end of the event, then decrasing to %40 of their share at the end of the event.

    • L1P3, 7.06K addresses are taking place in this group; share of this group has gone 5X during the event; more then half of LP amount provided by this group has withdrawn after event.

    • L1P2; 3.78K addresses are taking place in this group; different actions abserved in different pools, we are seeing in increase during the event then decrase here too, but rates change pool by pool. This is so normal I think most of the these addresses are real LP yielders so they are just optimizing their yields.

    • L1P1; there are 898 addresses; I think most of this group are JediSwap OGs; they were dominating LP pools before the event; they are still holding majority of LP tokens in some pools (BTC Pairs)

    • L1PW; These are just a few whales, we dont see their LPs before the event. It is so normal since Starknet's its at development stage people were shy about bringing their capital to the network, however this situation is changing by time.

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