📝 Introduction

⚪ What is smart contract?

Smart contracts are simply programs stored on a blockchain that run when predetermined conditions are met. They typically are used to automate the execution of an agreement so that all participants can be immediately certain of the outcome, without any intermediary's involvement or time loss.[1]

⚪ What is DEX?

DEXs are decentralized crypto exchanges that offer access to digital assets without an intermediary. Instead of relying on a company to fill and record crypto trades, DEXs offer peer-to-peer (P2P) token swaps using blockchain technology. More specifically, DEXs use smart contracts to execute trades. Smart contracts automatically run orders once various predetermined features are met. [2]

⚪ DEX Tokens

A number of DEX platforms offer their own native tokens which power operations in their respective ecosystems. With a growing shift to decentralised financial solutions, more investors are keen on adding the best DEX tokens to their portfolios for the near future. Governance and staking were early features that DEX tokens holders benefited from, as well as increased incentives for early liquidity providers.

📃 Purposes of dashboard

Users who want to buy one of the DEX tokens can compare the performance of these tokens from many aspects in this dashboard before buying. In this dashboard, the performance of the DEX Tokens has been evaluated from the following aspects:

Price

• Price per Day (Max/Average/Min Price)
• Range of Price Changes (ROPC)
• Price ATH
• Maximum Price Changes
• DEX Tokens Price vs. ETH Price & DEX Tokens Price vs. BTC Price
• Correlation between (DEX Token,ETH) & (DEX Token,BTC)

Liquidity pools

• Date of Creation of DEX Tokens Pools on Different Platforms.
• Amount of DEX Tokens Balance in Different Pools.
• DEX Tokens Transfers in Different Pools
• Input Volume-Output Volume

Transfers

• Number of Senders & Receivers & Transfers
• Volume of Transfers
• Statistical Data: DEX Tokens Transfers
• Top 20 DEX Tokens Receivers/senders Based on Transfers Count
• Top 20 Addresses with the Most DEX Tokens Collected
• Classification of Receivers/Senders Based on Volume
• Distribution of the Number of DEX Tokens Receipts/Transfers

Swap

• Swap Volume/Count
• Statistical Data: max/min/avg/median
• Top 20 DEX Tokens Buyers/Sellers based Purchase/Sales Volume/Count
• Classification of DEX Tokens Sellers/Buyers Based on Volume
• Distribution of DEX Tokens Purchases/Sales Count
• Swap Volume on DEXs
• Distribution of other Tokens Swapped with DEX Tokens

✍🏻 Methodology

• In this dashboard, the following tables are used to extract data:

  • ethereum.core.fact_hourly_token_prices → This table is used to analyze the DEX Tokens currency price.

  • ethereum.core.dim_dex_liquidity_pools→ The data in this table has been used to check the status of liquidity pools including DEX tokens.

  • ethereum.core.ez_token_transfers → This table has been used to evaluate the number and volume of transfers of DEX tokens between different addresses.

  • ethereum.core.dim_labels → In a part of the dashboard, the top addresses that recorded the most DEX tokens transfers were analyzed.

    In that section, the information of this table was used to find the label of those addresses.

  • ethereum.core.ez_dex_swaps→ This table has been used to extract data related to the volume and number of swaps and generally information about the DEX tokens swap.

• Range of Price Changes (Ropc) → max(price)-min(price) as "RoPC" → The difference between the maximum price and the minimum price of DEX tokens every day.

Price Analysis

Correlation Analysis

• CRV and LRC have the highest and lowest price changes in a day, respectively.

• BAL and ZRX have the highest and lowest prices among Dex tokens, respectively.

• In statistics, the standard deviation is a measure of the amount of variation or dispersion of a set of values. A low standard deviation indicates that the values tend to be close to the mean (also called the expected value) of the set, while a high standard deviation indicates that the values are spread out over a wider range. On the other hand, the standard deviation can be a good indicator to evaluate the fluctuation of data.

  Among DEX Tokens, ZRX and BAL currencies have the lowest and highest price standard deviation, respectively, in other words, the prices of these currencies have the lowest and highest volatility.

• Among DEX tokens, UNI and CRV have had the lowest and highest price reductions compared to the ATH price, respectively.

• The daily price changes of DEX tokens in 2022 have been much less than in 2021.

• With the beginning of the downward trend of the BTC price and the beginning of the bear market, most DEX tokens also entered the downward phase.

Liquidity Pools Analysis

DEX Tokens Transfers Analysis

Swap Analysis

DEX Tokens Information

🔵 1INCH (1inch)

1INCH is an Ethereum token that powers 1inch. The 1INCH token is used to govern all of the 1inch Network's current and future protocols. It is utilized in the governance modules of the 1inch Aggregation Protocol and the 1inch Liquidity Protocol.

🔵 SUSHI (SushiSwap)

SUSHI is an cryptocurrency token tied to the SushiSwap exchange. SUSHI is the governance token used to vote on platform development, and it can also be staked for xSUSHI via SushiSwap's SushiBar to receive further LP rewards.[11]

🔵 ZRX

ZRX is a utility token that used to incentivize users to host and maintain order books for 0x markets. In exchange for this essential service, 0x users gain exposure to fees paid when traders buy and sell assets on the platform, and they may earn additional rewards denominated in ZRX.[12]

🔵 LRC (Loopring)

The Loopring cryptocurrency, LRC, is necessary for key operations on the protocol. For instance, anyone who wishes to operate a decentralized exchange on Loopring must lock up at least 250,000 LRC, which enables the operator to run an exchange that uses its on-chain data proofs.[9]

🔵 SNX (Synthetix)

SNX tokens power the entire Synthetix ecosystem and are used as collateral to mint the Synths. Those who hold SNX tokens can stake them and earn a portion of the fees that are generated by the exchange of these Synths. [10]

🔵 DYDX (dYdX protocol)

DYDX is the dYdX protocol token. With DYDX users can operate on the exchange, do margin trading and leverage their yields. It is also a governance token that allows voting on protocol improvement proposals.[8]

🔵 DODO (dodo)

DODO is aims to make DeFi liquidity more accessible. DODO is used for platform governance, staking, and participating in Crowdpooling and IDOs, as well as for rewarding stakers and miners.[7]

🔵 CRV (Curve DAO)

CRV is the utility token of the Curve.fi DeFi protocol for exchanging stablecoins and other ERC-20 tokens. Curve's main goal is to connect users who want to exchange ERC-20 tokens and stablecoins with exchange protocols.[6]

🔵 BNT (Bancor)

BNT is the Bancor Network Token, which is the primary token used within the Bancor network. As of September 2021, BNT is the 98th most valuable cryptocurrency by market cap.[5]

🔵 BAL (Balancer)

BAL plays an essential role in the overall maintenance of Balancer, as it is also used as a governance token for the protocol. It is also used as an incentive where users can deposit assets into Balancer pools and earn BAL tokens.[4]

🔵 UNI (Uniswap)

The UNI token was created in September of 2020. This token is used to help decentralize the governance of the Uniswap protocol. The first version of Uniswap was launched on the Ethereum mainnet in November of 2018. The protocol was created as a way to facilitate the trading of ERC20 tokens.[3]

Correlation Coefficient Classification:

CC>0 → Positive Correlation

CC<0 → Negative Correlation

CC<=0.2 → Very Weak Correlation

0.2

The table below shows the top pool for each DEX tokens. In the pool share section, the balance value of the top pool and the share of that pool among other pools are shown.

In the table below, it is shown that the highest and lowest difference between the input volume to pools and output volume from pools in terms of USD was recorded in which month.

In the table below, information about the volume and number of transfers of DEX tokens is displayed. (This information was recorded on January 12.)

The following table shows the number of sender and receiver addresses of DEX tokens. (This information was recorded on January 12.)

The table below shows in what range most users have sent or received DEX tokens in total.

The following table shows the number of transactions related to the purchase and sale of DEX tokens.(This data was recorded on January 12.)

The table below shows the volume of buying and selling DEX tokens.(This data was recorded on January 12.)

The following table shows the number of buyers and sellers of DEX tokens.

The three currencies that are most exchanged with each of the DEX tokens are:

• UNI → 🥇WETH 🥈USDC 🥉AAVE
• BAL → 🥇WETH 🥈DAI 🥉GNO
• BNT → 🥇WETH 🥈vBNT 🥉1INCH
• CRV → 🥇WETH 🥈cvxCRV 🥉USDC
• DODO → 🥇WETH 🥈USDC
• DYDX → 🥇WETH 🥈USDT 🥉USDC
• LRC → 🥇WETH 🥈USDC 🥉DAI
• SNX → 🥇WETH 🥈USDC 🥉DAI
• SUSHI → 🥇WETH 🥈FRAX 🥉RUNR
• ZRX → 🥇WETH 🥈RNG 🥉USDC
• 1INCH → 🥇WETH 🥈USDC 🥉USDT

⭐ Dex tokens have been swapped for WETH more than any other currency.

The table below shows in what range most users have sold or purchased DEX tokens in total.

The table below shows how many users have recorded just a single transaction for buying or selling one of the DEX tokens.

💡 Conclusion

In this dashboard, the performance of DEX tokens has been compared in many aspects. Users who intend to buy one of these tokens can find a more detailed view of these tokens by browsing this dashboard.

Analyst: Emanoel

***Twitter: ***

Discord: Eman#9698

Special thanks to the Flipsidecrypto 🧡