Swaps to $THOR

    On May 4th, $THOR staking was enabled that yielded rewards for stakers based on THORSwap volume. 1. Did we see a spike of swaps to $THOR around that time? 2. Has there been any noticeable change in $THOR swapping since that event?

    Did we see a spike of swaps to $THOR around that time?

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    An insignificant spike both in transaction number and in fees paid ($) compared to the collapse of UST, but a significant local maximum if compared to today or yesterday.

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    We can see the same information in the swap volume ($), there was indeed a local (3-day average) maximum if we look at the 3 days before May 1-3rd and May 4th-5th, but still, nothing compared to the UST de-pegging event, where everyone rushed to get any exit liquidity they could.

    Has there been any noticeable change in $THOR swapping since that event?

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    It seems that the number one on that date (May 4th) in terms of POOL_NAME in all metrics was BNB-BUSD with ~27M in swap volume than TERRA-UST at ~9M and BTC-BTC with ~7M. It could be that people moved into RUNE or that people moved out of RUNE on that day. Since all pairs (at the time) are only paired against RUNE, it could be either way, unless we look at individual transactions. As a proxy, we could look at...

    FROM -> TO asset movements

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    It seems that, on the 4th of May, the majority of transactions took place in swapping from TERRA-UST to -> BNB-BUSD. This is interesting as there still was no de-pegging event on May 4th. It looks to me (speculation) as if some people had more than enough time to move their assets into something safer before the de-pegging attack 🤔 (SPECULATION)

    Nansen AI Report on UST De-pegging if you want facts and no speculations.

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    It seems, on the 4th of May, that the majority of UST was converted into BUSD as well as other assets, to make up 13M in ->TO (BUSD) asset volume in $.

    Summary

    It seems that the already staked users have received quite a lot of fees from the volume of transactions moving through the network starting on the 4th of May all the way to now. The UST de-pegging event and a lot of people swapping from x asset to BUSD (mainly) have provided $THOR stakers with some pretty good yields. What is also not apparent through, from the following analysis, is how big the impact of the launch of this had on people staking THOR. This can be seen in the following graphs (created for a different bounty).

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    This is only for staking events and it does not account for unstaking. Regardless it seems that there has been a lot of volume coming into THOR in order to stake THOR.