Introduction:

A while back I did a short and simple analysis on emerging DEXs in Algorand (You can see the numbers here: https://app.flipsidecrypto.com/dashboard/new-de-xes-in-algorand-ecosystem-RaxZoZ). Since then a lot has changed in Algorand and I am going to take a look back at those DEXs to see how they Stand today comparing to Tinyman?

Methodology:

I am Mostly Focused on Tinyman, Algofi and Pactfi since WagmiSwap doesn't show any pulse comparing to other DEXs. There are some metrics in use like number of wallets using each DEX, Volume of Algo Swapped, Whale Preference and behavior in time of market deep price. I used Swaps table from Flipsidecrypto database, trying to render charts that provide comparing Stats.

Lets get to it! First, How many are using each DEX? Although we can see that Tinyman still has more users but the growth for Algofi and Pactfi is more than Tinyman growth. how do i know? well, green & darker blue bars are getting more bigger than Light blue bar which belongs to Tinyman. Algofi alone experienced a +2X growth past week.

Now lets see how it looks when it comes to Algo Swap amount? Same previous statement is true about this Chart. Algofi & Pactfi did a ~4X growth while Tinyman growth was ~3X past week.

But there are some other important metrics when it comes to DEX popularity, like which DEX are more popular among whales? they need more liquidity to prevent high slippage and more security. In this case, Tinyman has a more advantage and beside Algofi attracting almost half of Tinyman gains past week, other stats show complete dominance of Tinyman.

Another important Factor is the performance of DEX it times of high volatility in market price. In chart below you can see that starting from May 9th all Metrics that were important show a significant increase. In other word, More Users are doing more Swaps with more Algo volume when market was going down.

Looking at the charts and data provided, we can easily claim that Algofi and Pactfi are getting better each day in many factors, and it wont be surprising if we see Algofi exceed Tinyman in number of users or some other metrics. This definitely has little to do with Tinyman performance, the point is Algorand ecosystem is growing and more DEXs will grow to make the entire ecosystem more decentralized. Hope you enjoyed this analysis and had found something useful in it