Free Square: THORChain pools analysis

    THORChain Bounties⚡

    The 5 pools with the highest amount of $RUNE withdrawn from them during the last 30 days are shown in the chart below.

    • The highest $RUNE withdrawal is for the BNB.BUSD-BD1.
    • About half of the RUNE withdrawn in the last 30 days is related to the TERRA.UST and TERRA.LUNA pools.(4,075,559‬ $RUNE)

    The chart below shows the pools to which the largest amount of $RUNE has been added.

    • BNB.BUSD-BD1, BTC.BTC and ETH.ETH pools had both the highest withdrawal and the highest RUNE deposit.

    In fact, during the last 30 days, the $RUNE withdrawal amount has been more than 3 times the $RUNE deposit amount in different pools.

    During these few days, 995 withdrawals from TERRA.LUNA pool and 1342 withdrawals from TERRA.UST pool have been done.

    In the next step, we want to check the status of adding or withdrawing liquidity from different THORChain pools in the last 30 days.

    The chart below shows the number of add liquidity actions and the number of withdrawals from various pools over the past 30 days.

    • On the 20th and 21st of May, the amount of liquidity withdrawals from various THORChain pools has suddenly increased.
    • Between May 20 and 26, the amount of liquidity withdrawals from various pools was far greater than adding liquidity to them.
    • The maximum number of withdrawals is related to May 20. The number of withdrawals on this day is equal to 851.
    • In the last 30 days, on May 27, users added the most liquidity to various THORChain pools.
    • The minimum number of withdrawal from different pools is related to June 5.(45 times)
    • On May 29, users added liquidity to THORChain pools only 65 times. (Minimum value)

    On these days, in order for the liquidity providers in the TERRA.LUNA and TERRA.UST pools to be eligible for Terra’s May 27 (GMT+8) Airdrop Snapshot, they have withdrawn their liquidity from these pools.

    In the first step, the RUNE balance is achieved in all pools.

    • According to the chart below, there is the highest amount of RUNE in the BTC.BTC pool.
    • there are currently 53 active liquidity pools on THORChain.
    • About 65% of RUNE liquidity is in just the following 4 pools:
      • BTC.BTC: 9.79M $RUNE
      • ETH.ETH: 5.68M $RUNE
      • BNB.BUSD-BD1: 4.58M $RUNE
      • BNB.BNB: 2.28M $RUNE
    • There is the minimum amount of $RUNE among the different pools in the ETH.DODO pool.
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    • The chart of THORChain TVL in the last 30 days shows a decrease in the amount of TVL.

    As can be seen from the chart below, the withdrawal of more than 4M RUNE from the TERRA.UST and TERRA.LUNA pools has reduced TVL on the THORChain network over the past 30 days. (The total value bonded chart has been almost constant for the past 30 days.)

    • The maximum THORChain TVL in the last 30 days is 716M $USD (290M $RUNE).
    • In contrast, the highest value of TVL has been 1.01B $USD (299.9M $RUNE).
    • The volume of swapped $RUNE has decreased over the last 30 days. The number of swaps in recent days has also decreased compared to mid-May.
    • Linear and two period moving average trendlines also show the downward trend in the number of daily swaps and the volume of swapped $RUNE in the last 30 days.

    In this step, we examine the number of swaps and the volume of RUNE swaps daily during the last 30 days.

    This is while the daily earning of NOs has gradually decreased over the last 30 days.

    • May 12, 2022: 1,278 $USD ---> June 9, 2022: 466 $USD

    One of the reasons for the decrease in daily NOs earning is the decrease in the number of transactions in the last 30 days.

    In the next step, we examine the earning of Liquidity Providers(LPs) and Nodes Operators(NOs).

    The chart below shows the earning of LPs and NOs over the past 30 days.

    • The lowest earning for LPs is on May 29th.
    • The lowest earning for NOs is on June 9th.
    • The amount of earning earned for LPs has fluctuated within a certain range over the past days and weeks. The average daily earning of LPs over the past 30 days has been $75,670 USD.
    • This is while the daily earning of NOs has gradually decreased over the last 30 days.
      • May 12, 2022: 131k $USD ---> June 9, 2022: 48k $USD
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    In general, TVL on the THORChain network is equal to:

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    A look at the TVL chart in $USD shows more volatility. The reason for this, apart from the decrease in the amount of RUNE in the pools, is the decrease in the price of RUNE.

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