What is a DEX?

A decentralized exchange (better known as a DEX) is a peer-to-peer marketplace where transactions occur directly between crypto traders. DEXs fulfill one of crypto's core possibilities: fostering financial transactions that aren't officiated by banks, brokers, payment processors, or any other kind of intermediary.

What is Near?

Near Protocol is a layer 1 blockchain network. It provides a platform on which developers can build decentralized applications (dapps). The most successful layer 1 blockchain is Ethereum, so protocols like Near are seen as challengers.

What is the NEAR Token?

The NEAR token is primarily used to pay transaction fees and as collateral for storing data on the blockchain. NEAR also rewards several stakeholders in the blockchain with NEAR tokens.

Methodology

In this dashboard, we will look at the swap volume and events of wallets swapping out of the NEAR tokens on Near DEXs. we are looking to see what users are swapping their Near for over time. The data for this dashboard will come from the near.core tables of Flipside’s database.

Sections

1. Near swap outflow by token
2. Near swap outflow by token normalized
3. Near swap outflow by dex

1. Near swap outflow by token

Near swap outflow by token normalized

Observations

• The Number of swap events out of NEAR has been consistently declining since October 2021
• The Volume of Swaps out of Near has been consistently increasing since October 2021
• The stablecoins DAI, USDC, and USDT are the most popular tokens users are swapping NEAR for
• Starting in late August 2022 the WOO tokens started to make up the majority of what users were swapping their NEAR for in terms of volume

Near swap outflow by dex

Observations

• Almost all of the NEar DEX outflows are on Ref finance
• Starting in February 2022 People started using Jumbo_exchange, and now 2% of NEAR outflow swaps are on this DEX

Conclusion

• Near swap outflow by token
  • The Number of swap events out of NEAR has been consistently declining since October 2021
  • The Volume of Swaps out of Near has been consistently increasing since October 2021
  • The stablecoins DAI, USDC, and USDT are the most popular tokens users are swapping NEAR for
  • Starting in late August 2022 the WOO tokens started to make up the majority of what users were swapping their NEAR for in terms of volume
• Near swap outflow by dex
  • Almost all of the NEar DEX outflows are on Ref finance
  • Starting in February 2022 People started using Jumbo_exchange, and now 2% of NEAR outflow swaps are on this DEX