❓OpenOcean , Clipper and Beethoven

Analyze Openocean , Clipper and Beethoven swap activity

📝 Introduction

What is OpenOcean?

OpenOcean is the world's first full aggregation protocol for crypto trading that sources liquidity from DeFi and CeFi, and enables cross-chain swaps.

How does OpenOcean work?

OpenOcean searches across DEXes and CEXes to find and optimize the best trading options for various crypto assets on different public blockchains. It supports cross-chain swaps between the aggregated public chains via cross-chain protocols and will support direct cross-chain transactions once the infrastructure is mature. Users only need to pay the normal blockchain gas fees and exchange fees for the trades, which are charged by the exchanges and not OpenOcean.

At this point of time, OpenOcean supports only 1 CEX which is Binance. The list of DEXes supported can be found through this link.

Normally when doing a trade on OpenOcean, the protocol will execute these 3 steps:

Price quotation from DEXes and CEXes.
Optimize and find the best trading routes for the best price with low slippage.
Communicate the prices to users and execute trades.

What is Clipper?

Clipper is a decentralized exchange (DEX) built for self-made traders, not hedge funds or whales. Clipper is designed to have the lowest per-transaction costs for smaller trades on the most popular cryptoassets. This is accomplished through a novel architecture and a series of design tradeoffs that sacrifice price competitiveness on large trades for better prices for smaller trades.

How Clipper Works

Clipper was built by master craftsmen and works because of disciplined design tradeoffs.

Dive Deep

How Clipper has the best prices on swaps →

Clipper's whitepaper →

How to provide liquidity →

Architecture Design →

Governance →

Audits →

Clipper's Design Principle

Clipper was designed to give traders the best prices anywhere (including fees, slippage and gas) for their small trades.

How Clipper Achieves Best Prices

Price in automated market makers is composed of three parts: Fees, Slippage and Gas.

For those new to AMM design, Fees are typically charged on every trade. They are measured in "bps" (basis points - one basis point is one percent of one percent aka 0.01%), and primarily go to cover the cost of capital from liquidity providers. Slippage is the amount by which the price worsens as the trade size increases. Finally, Gas is the computational cost charged by the blockchain.

The core insight behind Clipper's design is that, counterintuitively, more liquidity can be bad for retail traders. In general, Most AMMs want as much liquidity as possible because it means less slippage. But after a certain point, more liquidity doesn't have any material benefit for small trades; it only continues to reduce slippage on large trades. Put another way, the slippage on a $1,000 trade is virtually the same with a $100m pool and a $1b pool. Even worse, more liquidity can be counterproductive! That's because the more liquidity in an AMM, the more the AMM needs to charge traders in fees to attract such large amounts of liquidity. This ends up better for large traders, but will make for worse prices for smaller trades. Consequently, on most DEXs retail traders end up subsidizing whales!

To counter the harmful effects of liquidity overprovisioning on retail traders, Clipper has a smaller, capped liquidity pool and lower fees. A smaller pool means that there is more slippage on Clipper, but the decrease in fees more than offsets the increased slippage for small trades. On the other hand, on large trades the slippage outweighs the decrease in fees. That makes Clipper a terrible place to make large trades! But that's ok, Clipper is for the self-made trader. Let the whales and hedge funds go elsewhere.

Beethoven X is a community-driven DEX and DeFi power house. Governed by BEETS and living on the Fantom Opera and Optimism chain.

As the first official friendly fork and built on Balancer V2, Beethoven X leverages best in breed DeFi protocols to offer novel decentralized investment strategies. It is the first next-generation AMM protocol on Fantom Opera and Optimism.

Features

📈 Weighted Investment Pools

Weighted investment pools turn the concept of an index fund on its head: instead of paying fees to portfolio managers to rebalance your portfolio, you collect fees from traders, who rebalance your portfolio by following arbitrage opportunities. Each pool can contain up to 8 different tokens, where each token is assigned a weight defining what fraction of the pool is made up by each asset.

💵 Stable Pools

For certain assets that are expected to consistently trade at near parity (e.g. different varieties of stablecoins or synthetics), we utilize the StableSwap AMM as popularized by Curve. These pools allow for larger trades of these assets before encountering significant price impact.

↔️ Trade

Beethoven X provides a Uniswap style trading experience, to allow for trading from one token for another. Behind the scenes, the Smart Order Router (SOR) intelligently sources liquidity from multiple pools so as to automatically figure out the best available price from all available pools.

🚜 Farm

Staking your liquidity provider (LP) tokens and earn rewards.

💸 Earn Protocol Fees

Protocol fees will distributed to Liquidity Stakers. Provide liquidity in one of the 80/20 BEETS weighted pools to earn your portion of 30% of the protocol fees. Wherever possible, we will introduce protocol fees for transactions, with 30% of the fees being used to buy BEETS off the open market and redistribute them to Liquidity Stakers. 50% of protocol fees will be used to build a diversified DAO controlled treasury.

📃 Purposes of dashboard

In this dashboard, Openocean , Clipper and Beethoven protocol is analyzed :

Total and Daily count of swaps at each Openocean , Clipper and Beethoven.
Total and Daily count of swappers at each Openocean , Clipper and Beethoven.
Total and Daily volume (USD) of swaps at each Openocean , Clipper and Beethoven.
Total and Daily count of swaps on Openocean , Clipper and Beethoven at each dex.
Total and Daily count of swappers on Openocean , Clipper and Beethoven at each dex.
Total and Daily volume (USD) of swaps on Openocean , Clipper and Beethoven at each dex.
User categorize by count of swaps at each protocol (Openocean , Clipper and Beethoven).
User categorize by volume (USD) of swaps at each protocol (Openocean , Clipper and Beethoven).
Top 10 wallet on Openocean , Clipper and Beethoven protocol by count of swaps .
Top 10 wallet on Openocean , Clipper and Beethoven protocol by volume (USD) of swaps .

✍🏻 Methodology

In this dashboard, i use 3 table:
- optimism.core.fact_event_logs → used for checking swappers activity on Openocean , Uniswap and 1 inch protocols.
- optimism.core.dim_contracts → used for checking token names that are tradable on Openocean , Uniswap and 1 inch protocols .
- optimism.core.fact_hourly_token_prices → used for checking token prices that are tradable on Openocean , Uniswap and 1 inch protocols .

Some filters that used in this dashboard:

Openocean

origin_to_address = lower('0x6352a56caadC4F1E25CD6c75970Fa768A3304e64')

event_name = 'Swap'

origin_function_signature = '0x90411a32'
Clipper
- origin_to_address = lower('0x5130f6cE257B8F9bF7fac0A0b519Bd588120ed40')
  
  topics[0] = '0x4be05c8d54f5e056ab2cfa033e9f582057001268c3e28561bb999d35d2c8f2c8'
Beethoven
- origin_to_address = lower('0xba12222222228d8ba445958a75a0704d566bf2c8')
  
  event_name = 'Swap'
  
  origin_function_signature = '0x52bbbe29'

🟡 Part(1).Total and Daily count of swaps at each Openocean , Clipper and Beethoven.

🟡 Part(2).Total and Daily count of swappers at each Openocean , Clipper and Beethoven.

🟡 Part(3).Total and Daily volume (USD) of swaps at each Openocean , Clipper and Beethoven.

🟡 Part(4).Total and Daily count of swaps on Openocean , Clipper and Beethoven at each dex.

🟡 Part(5).Total and Daily count of swappers on Openocean , Clipper and Beethoven at each dex.

🟡 Part(6).Total and Daily volume (USD) of swaps on Openocean , Clipper and Beethoven at each dex.

🟡 Part(7).User categorize by count of swaps at each protocol (Openocean , Clipper and Beethoven).

🟡 Part(8).User categorize by volume (USD) of swaps at each protocol (Openocean , Clipper and Beethoven).

🟡 Part(9).Top 10 wallet on Openocean , Clipper and Beethoven protocol by count of swaps .

🟡 Part(10).Top 10 wallet on Openocean , Clipper and Beethoven protocol by volume (USD) of swaps .

👀 Observation ( part(1) , part(2) , part(3), part(4), part(5), part(6))

The maximum count of swaps in one day:
- Openocean related to ==1 Jun== of 2022 that are ==85
- Clipper related to ==6 Nov== of 2022 that are ==2625
- Beethoven related to ==28 Jul== of 2022 that are ==249
The maximum count of swappers in one day:
- Openocean related to ==1 Jun== of 2022 that are ==62
- Clipper related to ==6 Nov== of 2022 that are ==1968
- Beethoven related to ==1 Aug== of 2022 that are ==31
The maximum volume (USD) of swaps in one day:
- Openocean related to ==28 Oct== of 2022 that are ==535.11 K
- Clipper related to ==6 Nov== of 2022 that are ==84.68 K
- Beethoven related to ==28 Jul== of 2022 that are ==318.91 K
The maximum count of swaps in one Pool:
- Openocean related to ==USDC - USDC== Pool that are ==361
- Clipper related to ==USDC - OP== Pool that are ==10.77 K
- Beethoven related to ==Weth - OP== Pool that are ==860
The maximum count of swappers in one Pool:
- Openocean related to ==USDC - USDC== Pool that are ==212
- Clipper related to ==USDC - OP== Pool that are ==7723
- Beethoven related to ==OP - USDC== Pool that are ==162
The maximum volume (USD) of swaps in one Pool:
- Openocean related to ==USDC - Weth== Pool that are ==880.57 K
- Clipper related to ==USDT - USDC== Pool that are ==513.92 K
- Beethoven related to ==Weth - OP== Pool that are ==946.02 K

👀 Observation ( part(7) , part(8))

Most of the swap volume (USD) of Openocean protocol was ==100 - 500 USD==, ==486== (==23.8%==)
After ==100 - 500 USD== most of the swap volume (USD) of Openocean protocol was ==10 - 50 USD==, ==423== (==20.7%==)
Most of the swap volume (USD) of Clipper protocol was ==10 - 50 USD==, ==18.3 K== (==56.1%==)
After ==10 - 50 USD==, most of the swap volume (USD) of Clipper protocol was ==Swap less than 10 USD==, ==6478== (==19.9%==)
Most of the swap volume (USD) of Beethoven protocol was ==100 - 500 USD==, ==272== (==26.6%==)
After ==100 - 500 USD== most of the swap volume (USD) of Beethoven protocol was ==10 -50 USD==, ==256== (==25.1%==)
Most of the usage platform of Openocean protocol was ==just once time==, ==1611== (==79%==)
After ==just once time== most of the usage platform of Openocean protocol was ==2 - 5 time==, ==363== (==17.8%==)
Most of the usage platform of Clipper protocol was ==just once time==, ==27.4 K== (==84%==)
After ==just once time==, most of the usage platform of Clipper protocol was ==2 - 5 time==, ==5097== (==15.6%==)
Most of the usage platform of Beethoven protocol was ==just once time==, ==816== (==79.9%==)
After ==just once time== most of the usage platform of Beethoven protocol was ==2 - 5 time==, ==166== (==16.3%==)

👀 Observation ( part(6)))

Top 10 wallet by volume (USD) of swap:

🏆 0x5aa27fb521ae05a744334a2c0f1fe5e775505482

which have the most volume (USD) of swap in Openocean protocol. (==882.83 K==)

🏆 0x7652014ab41b19d1adca00b3cb9eee84d04ffa18

which have the most volume (USD) of swap in Clipper protocol. (==73.38 K==)

🏆 0x1d3286a3348fa99852d147c57a79045b41c4f713

which have the most volume (USD) of swap in Beethoven protocol. (==2.79 M==)

Top 10 wallet by count of swap:

🏆 0x456325f2ac7067234dd71e01bebe032b0255e039

which have the most volume (USD) of swap in Openocean protocol. (==129==)