Introduction

THORChain is a blockchain network that acts as a ==decentralized exchange (DEX)==. This decentralized exchange is built on the Cosmos SDK and uses an AMM model, allowing users to exchange tokens on different blockchains such as BTC and ETH in a non-custodial manner.

Swap in THORChain is done by liquidity pools. Pools are collections of assets deposited by liquidity providers, where each collection contains 1 connected asset, for example Bitcoin, and THORChain's own asset, RUNE. Liquidity pools are designed to incentivize users of different crypto platforms, called liquidity providers (LPs). After a certain amount of time, LPs are rewarded with a fraction of fees and incentives, equivalent to the amount of liquidity they supplied, called liquidity provider tokens (LPTs). LP tokens can then be used in different ways on a DeFi network.

Users can easily swap their assets in liquidity pools by using the liquidity provided by LPs and a platform like Thorswap.

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Methodology

In this dashboard, our goal is to get the swap size distribution on TorSwap platform. For this purpose, we use the data in Table 1. We break down the swap amounts by dollar and run and then discuss the following graphs in relation to each:

• Distriution of Swap Sizes(USD and $RUNE) based on Number of Transactions
• Distriution of Swap Sizes(USD and $RUNE) based on Number of Wallets
• Share of Swap Sizes(USD and $RUNE) in every pool
• Distribution of Pools based on Number of Transactions(broken down by swap sizes(USD and $RUNE))
• Distribution of Pools based on Number of Wallets

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Analysis

$RUNE based

• First, we will discuss the distribution of swap sizes based on RUNE. As it is clear from Donati's chart, ==52.4% of swap transactions== had a volume between ==100 and 500 RUNE.== And, transactions with a volume of ==less than 100==, between ==500 and 1000,== and between ==1000 and 5000 RUNE==, respectively accounted for ==17.8%==, ==17.6%==, and ==11.6%== of the total number of swap transactions. The ones with a volume of ==more than 5,000 RUNE have covered 0.6% of all transactions.==
• In the graph on the right above, we can also see the distribution of swap size based on the number of transactions grouped by liquidity pools. As it is known, in most categories (in terms of RUNE volume) ==BNB.BUSD and BNB.ETH pools have a high share.==

• According to the graph on the right, it is clear that the volume ==between 100 and 500 RUNE has the largest share in transactions to the pools==, and the volume of less than 100 RUNE is in second place.

If we calculate the distribution of swap sizes based on the number of wallets, the result will differ from the previous case.

• According to the chart, ==55.5% of the wallets have swapped less than 100 RUNE,== and only ==21.6% have swapped a volume between 100 and 500 RUNE==. Also, ==3.38% of the wallets have swapped more than 5000 RUNE==.

• In the graph on the left, you can also see that pools ==BNB.BNB==, ==BNB.BUSD== and ==BTC.BTC== are very ==popular and have a high share of the number of wallets== in most ranges of RUNE.

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• The ==highest number of transactions is related to pool BNB.BUSD==, where 857K transactions are related to transactions that have swapped between 100 and 500 RUNE. In the second place are transactions that have swapped less than 100 RUNE, and in the third place, there are 341K transactions with a volume between 500 and 1000 RUNE.

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• ==In terms of the number of wallets==, Pool BNB.BNB has the largest number. So that 28.59K wallets in this pool have swapped a volume of less than 100 RUNE and 5343 wallets with a volume between 100 and 500 ron.

USD based

• ==30.2%== of swap transactions with a volume between ==1K and 2.5K USD==, ==23.8%== of them with a volume between ==500 and 1000 USD==, ==22%== of swaps with a volume of ==fewer than 500 dollars==, and ==15.1%== of the transactions are recorded with a volume between ==2.5K and 5K USD==. Only ==0.0498%== of the swaps were done with a volume of ==more than 100K USD.==

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• Regarding the number of transactions, Pool ==BNB.BUSD has the highest number in most volume ranges (USD).==

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• ==In terms of the share of swap volume in the transactions made on the pools==, the volume range of ==less than 500 dollars== is in the ==first place,== and after that, the volume between ==1K and 2.5K USD== is in the ==second place==.

  In general, it can be said that more than 80% of the transactions were made on liquidity pools with a volume of less than 5K USD.

• ==49.4%== of users have a volume of ==less than 500 dollars==, ==13.3%== of them ==between 1K and 2.5K USD==, ==11.2%== between ==500 and 1K USD==, ==9.28%== between ==2.5K and 5K USD==, ==7.68%== between ==10K and 50K USD== and ==7.41%== of users have swapped between ==5K and 10K USD==.

• The ==largest number of wallets== were active on pools BNB.BNB, BNB.BUSD and BTC.BTC.

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• 27.71K wallets with a volume of less than $500 done swap on the pool ==BNB.BNB==.

• Most of the wallets that have swapped ==more than 100K USD== have swapped on the ==ETH.ETH== pool.

• Also, the largest number of those who have swapped a volume between ==50K and 100K USD== have done this on the ==ETH.ETH== pool.

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• The ==highest number of transactions== is related to transactions that have swapped a volume between ==1K and 2.5K USD==, and this amount was swapped on pool ==BNB.BUSD==.

Conclusion

• The volume between ==100 and 500 RUNE has the largest number of transactions== on the pools.
• Pool ==BNB.BUSD is the most popular pool== both in terms of the number of transactions and the number of unique wallets.
• ==Most of the users have deposited less than 100 RUNE== to the pools.
• On Pool ==BNB.BUSD, the most popular volume is in the 100-500 RUNE range==.
• In terms of USD, the ==largest volume is related to transactions with a volume of 1,000 to 2,500 USD==.
• In terms of USD volume, Pool ==BNB.BUSD has the highest number of transactions==.
• Nearly ==50% of users have deposited a volume of less than 500 USD== to the pools.

Contact me

Thank you for being with me so far in this analysis. If you have any questions, you can ask through the following ways. I will be pleased to answer the questions.

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