Performance of Flow chain stablecoins

    πŸ” Unlocking the Secrets of Stablecoin Performance on the Flow Chain: Dive into our comprehensive dashboard analysis, powered by the Flipside database, to Discover the trends in swaps, transfers, and bridge stability, gaining valuable insights into the thriving world of stablecoin ecosystems.

    🟒 What is Flow?

    Flow is a blockchain platform designed for building decentralized applications (dApps) and digital assets. It was created by Dapper Labs, the company behind the popular blockchain game CryptoKitties.

    Flow is designed to be developer-friendly and aims to solve some of the scalability and usability challenges faced by other blockchain platforms. It uses a unique architecture that separates the consensus mechanism from the execution of smart contracts, which allows for greater scalability and performance.

    Flow also features a resource-oriented programming model, which enables developers to build more complex and interactive apps. It supports non-fungible tokens (NFTs) and other types of digital assets, and allows for easy integration with traditional payment systems and other blockchain networks.

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    πŸ’š What is FUSD?

    • FUSD is a stablecoin on the Flow blockchain pegged to the value of the US dollar. It provides users with a reliable medium of exchange and store of value within the Flow ecosystem.

    πŸ’š What is USDT?

    • USDC is a stablecoin issued on the Flow blockchain that is backed by a one-to-one reserve of US dollars. It provides users with a stable and easily transferable digital representation of the US dollar.

    πŸ’™ What is USDC?

    • USDT is a popular stablecoin on the Flow blockchain, pegged to the value of the US dollar. It is widely used for trading and as a stable value storage within the crypto ecosystem.
    Introduction
    🧱 Methodology

    In this dashboard, using the Flipside database, we evaluated the performance of stablecoins from various aspects in the Flow chain. In the first step, we compared the volume and number of swaps of these coins. By tracking the volume and number of swaps, the user can assess the liquidity of the stablecoin. Higher volume indicates increased liquidity. On the other hand, analyzing the volume and number of swaps allows you to gauge the demand and popularity of the stablecoin. Higher trading volume and a significant number of swaps indicate that users are actively using the stablecoin for transactions or trading. In the next section, the status of transfers of stable coins in the Flow chain was analyzed. Checking the status of transfers enables users to detect any suspicious or fraudulent activities associated with their stablecoin transactions. Generally, checking the status of transfers is crucial for both individual users and businesses engaging with stablecoins. It offers transparency, security, and operational efficiency, promoting trust and confidence in the stability and functionality of the stablecoin ecosystem. In the next section, the situation of the Flow chain's bridge stable coins was evaluated. In this part, all the chains that were bridged between them and the Flow chain were identified and investigated. The following tables were used to extract data related to each section:

    • flow.core.ez_swaps
    • flow.core.ez_token_transfers
    • flow.core.ez_bridge_transactions
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    πŸ”ŽDashboard Overview
    Stablecoins Swap
    Stablecoins Transfer
    Stablecoins Bridge