Tokemak Popularity
Tracer Q3: Tokemak is a protocol that allows tracer governance token holders (TCR) to seek further ROI by way of yield farming. What is the popularity of Tokemak among tracer users? Hint: Tokemak_tTracer address: 0x15A629f0665A3Eb97D7aE9A7ce7ABF73AeB79415
Introduction
Tokemak
Tokemak is a novel protocol designed to generate deep, sustainable liquidity for DeFi and future tokenized applications that will arise throughout the growth and evolution of web3.
It can be thought of as a decentralized market making platform and a liquidity router that disaggregates traditional liquidity provision and market making for DeFi. Sitting a "layer above" decentralized exchanges, Tokemak allows for control over where the liquidity flows, and also offers an easier, cheaper way for providing and sourcing liquidity.
One of the Token Reactor is TCR, which will be analysed in this dashboard.
TCR
Tracer is an open-source, smart contract protocol for derivatives. Broadly, it is an array of financial contract generators (Factories) governed by a DAO. Factories store contract templates and generate tracers. Tracers are instances of the contracts (Markets) deployed on-chain. They can be deployed by anyone.
Tracer DAO is the decentralised governing body of the Tracer protocol, whose members constitute holders of the Tracer Token (TCR)
Tracer Token (Ж)
TCR (Tracer Token) is the unique token that governs the Tracer DAO; it's used by DAO members to vote on proposals that influence Tracer's growth and trajectory. By virtue of holding (and staking) TCR, holders are entitled to participate in these votes and govern Tracer's peer-to-peer financial ecosystem. DAO members decide when and if to deploy new code, or whether existing code needs to be modified. They also control the use of treasury funds and employ of service providers.
The maximum supply of TCR is 1,000,000,000.
As of the 8th September, 2021, TCR is distributed as follows:
Methodology
First, the TracerDAO contract will be searched in Coingecko. With this contract_address = '0x9c4a4204b79dd291d6b6571c5be8bbcd0622f050'
I query the ethereum.erc20_balances
table to obtain a list of addresses which held TCR. I made 4 "screenshots" of the holder addresses for 4 different dates:
-
September 8th 2021
-
December 1st 2021
-
January 1st 2022
-
February 1st 2022
I them queried the ethereum.events_emitted
table to match the 4 lists of holder addressess to the tx_from_address
parameter to find out which of these holders interacted with Tokemak's TCR Token Reactor since September 21st .The contract_address = 0x15a629f0665a3eb97d7ae9a7ce7abf73aeb79415
has been identified as the Tokemak_tTracer program.
This would give the the number of TCR holders at a certain point in time that have transacted some time with Tokemak's TCR Reactor.
I also did an additional query to count the number of TCR holders on a given day with the number of Tokemak's Reactor transactions on that given day. This analysis doesn¡t take into account if the holders in one day transact later in time, and thereforeI wanted it to be a complement to the analysis in the first part.
Results
The first graph shows the interaction of the holders on September 8th (total 88 holders) with the TCR Reactor. Numbersare quite low indicating the Tokemak platform was not very popular amongst the original holders.
The next thre graphs show the interaction with TCR Reactor of holders from Dec, Jan and February 1st. The trend here is very similar, differing slighty in the peak numbers (max tx in a day is 19,22 and 22 for Dec, Jan, Feb)
An additional result I want to show is the TCR supply change since September 8th 2021 when the distribution stated in Tracer Documentation was effective. The graph below shows a supply of 1B TCR Token with the interesting points:
- abrupt decrease to 0.995B on November 2nd and return to baseline 1B
- small but steady increase starting January 31st until February 19th
- incredible decrease of around 0.1B from February 19th til February 28th, where it returned at the same rate to baseline 1B.
It would be interesting to know if there is any data corruption issue or other event behind to explain this behaviour.
Conclusion
One can argue that the popularity has increased between the original 88 holders on September 8th compared to new holders from the past 3 months based on the data presented in this dashboard. But itis still not really popular since over 800 addresses hold TCR and maximum 20 have made a transaction on a day.
Nevertheless, I feel I haven't been able to portrait the popularity in a good way.All my queries of the ethereum.events_emitted
table with a list of all addresses were unsuccessfull due to overtime. So I need to improve the filtering, arranging and join of tables.
Acknowledgement
A query posted in the #all-questions-welcome room on Discord served me as an inspiration for the bounty - i had not looked into it. So best thanks to @Sam and @Crazy_kid