What is a DEX?

A decentralized exchange (DEX) is a digital currency exchange that allows users to buy crypto through direct, peer-to-peer cryptocurrency transactions, all over a secure online platform without an intermediary.

What is Ethereum?

Ethereum is a decentralized, open-source blockchain with smart contract functionality. Ether is the native cryptocurrency of the platform. Among cryptocurrencies, ether is second only to bitcoin in market capitalization. Ethereum was conceived in 2013 by programmer Vitalik Buterin.

What is Thorchain?

THORChain is a decentralized cross-chain liquidity protocol that allows users to swap assets between blockchain networks. One of the most significant innovations to come out of the decentralized finance (DeFi) space is the automated market maker (AMM) model.

What is Osmosis?

Osmosis is a fully-customizable AMM that allows developers to build truly unique liquidity pools, and build and deploy custom AMMs that can quickly adjust to changing market conditions. by David ShuttleworthMarch 18, 2022. Posted on March 18, 2022.

Methodology

In this dashboard we will be looking to see With the collapse of FTX, users want to remove their crypto from centralized exchanges and use decentralized options for trading. to answer this question we will look at the trading activity of Ethereum DEXs, Thorchain, and Osmosis to see how DEXs were impacted by this event. The data for this dashboard comes from the Ethereum.core, Thorchain.core, and osmosis.core tables of flipside’s database.

Daily Ethereum Dex Activity by Marketplace

Daily Ethereum Dex Activity by Time Period

Observations

• In terms of active users, swaps, and swap volume Ethereum DEX have been more active after the FTX event than they were in the 90 days leading up to it
• On November 8th there was a massive spike in swap volume on Curve
• Since the FTX event, there has been 7K new Uniswap users on Ethereum
• In terms of swap events both of the Uniswap protocols are extremely active

Daily Thorchain Dex Activity by Marketplace

Observations

• In terms of active users, swaps, and swap volume Thorchain has been more active after the FTX event than they were in the 90 days leading up to it
• On November 8th the volume of Thorchain increased by 5x
• Since the FTX event, there have been 2.5K new users on Thorchain

Daily Osmosis Dex Activity by Marketplace

Observations

• In terms of active users and swap volume Osmosis has been more active before the FTX event than after
• On November 8th the volume of Osmosis increased by less than 25%
• Since the FTX event, there have been 7K new users on Osmosis

Conclusion

• Daily Ethereum Dex Activity by Time Period
  • In terms of active users, swaps, and swap volume Ethereum DEX have been more active after the FTX event than they were in the 90 days leading up to it
  • On November 8th there was a massive spike in swap volume on Curve
  • Since the FTX event, there has been 7K new Uniswap users on Ethereum
  • In terms of swap events both of the Uniswap protocols are extremely active
• Daily Thorchain Dex Activity by Marketplace
  • In terms of active users, swaps, and swap volume Thorchain has been more active after the FTX event than they were in the 90 days leading up to it
  • On November 8th the volume of Thorchain increased by 5x
  • Since the FTX event, there have been 2.5K new users on Thorchain
• Daily Osmosis Dex Activity by Marketplace
  • In terms of active users and swap volume Osmosis has been more active before the FTX event than after
  • On November 8th the volume of Osmosis increased by less than 25%
  • Since the FTX event, there have been 7K new users on Osmosis

Sections

1. Daily Ethereum Dex Activity by Marketplace

2. Daily Ethereum Dex Activity by Time Period

3. Daily Thorchain Dex Activity by Marketplace

4. Daily Osmosis Dex Activity by Marketplace

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