Introduction

THORChain is a decentralised cross-chain liquidity protocol which does not peg or wrap assets, it simply determines how to move them in response to user-actions. THORChain's key objective is to be resistant to centralisation and capture whilst facilitating cross-chain liquidity. THORChain only secures the assets in its vaults, and has economic guarantees that those assets are safe.

There are four key roles in the system:

• Liquidity providers who add liquidity to pools and earn fees and rewards

• Swappers who use the liquidity to swap assets ad-hoc, paying fees

• Traders who monitor pools and rebalance continually, paying fees but with the intent to earn a profit

• Node Operators who provide a bond and are paid to secure the system

This dashboard will explore the Liquidity Pools Size Distribution for the current LP.

Source

Methodology

To calculate the total liquidity per pool, first two CTE will aggregate each liquidity action (add_liquidity and remove_liquidity) per pool for both RUNE and the pool asset using the thorchain.liquidity_actions table. Then, the current price will be gathered as a new CTE from the thorchain.prices table using block_id = 5380898 as the latest block available at the time of the analysis (corresponding to block_timestamp = '2022-05-02 00:55:01.986').

Finally, a join of all CTE on x.pool_name = y.pool_name will be used to calculate the liquidity as net sum of RUNE + asset in USD per pool.

Results

Data Comparison

I compared the data for the 26 pools with the info on THORYield. FIrst, the same 26 pools are listed there, which is a good sign. Some of the liquidity calculations are relatively accurate compared to the THORYield data like the TERRA.LUNA and the BNB.ETH. Some others are up to 20% off like BTC.BTC (10% difference) and BNB.BUSD (15%). This makes the order in the list not the same but the top 10 pools are the same.

There might be some missing data on the tables as some users mentioned in Discord.

Figure 1. shows the list of 26 pools currently available through THORYield by liquidity in USD. Figure 2. shows the top 10 pools, which each has more than 10M USD in liquidity.

Conclusion

It is no surprise that the biggest two pools correspond to the 2 biggest cryptoasset in market capitalization, BTC and ETH. Terra Network since its recent launch in THOR has become a star, with both the native asset LUNA as well as the stablecoin UST making it to the top 5, together with BUSD. These are bright times for THORChain!