Transactions by Protocol

(Algorand - July14)

Introduction:

Algorand is a proof-of-stake blockchain cryptocurrency protocol. Algorand's native cryptocurrency is called ALGO.It's a low-cost, high throughput network with a core focus on block finality. It costs roughly 0.001 ALGO per transaction–less than a cent–making it ideal for DeFi and gaming use cases.

This dashboard will investigate into 4 popular Algorand protocols to check number of transactions, amount of fee etc.

Methodology:

To do this analysis I used

• Flipside Crypto database

• flipside_prod_db.algorand.application_call_transaction table

• flipside_prod_db.algorand.application_call_transaction table

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Q1: How many transactions is done on each protocol?

To answer this question, I tried to count tx_ids and tx_group_ids on each protocol to analyze both single and associated transactions (to find probable differences).

To limit my results to mentioned protocols, I used their app_ids given from flipside.

Besides, I noticed our data is since beginning of April so far, so I limit all of my analysis to this particular time period.

After joining all of data related to these four protocols by WITH function, I get these two chart:

Lets begin by associated transactions (counting tx_group_id).

As you see, Tinyman has the first place with a huge difference. AlgoFi, AlgoDex and FolksFinance are 2nd to 4th in almost every single day.

Number of associated transactions has increased in 11,12 May and 2,14 June.

Now time to visualize every transactions (Just by counting TX_GROUP_ID instead of TX_ID).

As you see, Unlike pervious chart, AlgoDex is on the first place.

What is the reason? Well, maybe AlgoDex prefer to do so many transactions in in groups. ( compared to TinyMan).

Now lets check are these changes and spikes in transactions number along with Algorand whole ecosystem transactions or not.

To achive this goal lets check below chart:

Looking at daily total transactions chart we see most transaction record in all the Algorand blockchain is for May 7 with more than 2 million transactions in just one day but checking back our 4 protocols chart we see no significant change in transactions number meaning that there is no obvious correlation between total transaction number and these 4 protocols transactions number. But wait!

Four days later, on 11,12 May we see another sharp increase in total transactions number BUT unlike last change, here we see significant increase in number of transactions of 4 protocols too.

So for conclusion we cant say there is or there isnt correlation between them but anyhow they can be affected surely.

Now lets check effect of ALGO price on its ecosystem transactions:

To code this chart I just used PRICES_SWAP table and asset_id =0.

Look at May 2, when the price start to pump; now check the total transactions chart we see start of increasing transactions.

Now check price on 9to12 May and see this dump; then look at total transaction chart, you see start of another significant increase in total transactions and if you check 4 protocols chart, you will see, there is the biggest increase in transactions there too.

always price changes (pump or dump) encourage traders to swap their fund more (Being FOMO to buy more and greed or Being frightened of losing money and swap back or Fear)

Conclusion:

Price significant changes affect of transactions number.

Maybe you ask yourself HOW BIG these for protocols are?

To clarify it, I visualize share of every protocol in total transactions ( I used monthly time frame but there is no significant difference in other timeframes)

As you see these four have about 8 to 10 percent of all transactions in total.

AlgoFi with about 4.3 to 7.1 percent is 1st (among these 4)

TinyMen with about 1.7 to 3.1percent is 2nd (among these 4)

Below you can see this chart in daily timeframe:

Now time to check 4 protocols fees:

We have two spike here:

• May 11 (At the same time with huge price change discussed before)
• June 13 (No significant price change but increase in number of total transactions and 4-protocols transactions)

Now let stalk about fees.

At first step I wanna check total Algorand blockchain since beginning of April.

We have 3 major increase here:

• 5 to 8 May (Algo Price pump)
• 11,12 May (Algo Price dump)
• 13 May (No significant price change but increase in number of total transactions and 4-protocols transactions)

This table shows exact amount of monthly fee paid of each of 4 protocols + total monthly fee paid.

Most fee paid on AlgoFi and is about 3 million per month.

Notice that total monthly fee for each protocol is correlated to total monthly fee (when it increases they increase vice versa)

For last question lets check what types of transactions is more used in each protocol:

To know it, I used counting unique TX_TYPE_NAME on flipside_prod_db.algorand.transactions table joined to flipside_prod_db.algorand.application_call_transaction.

Results showed in chart separate:

> This analysis was created by MRFTI (Flipside, mrfti#7948 on Discord) on 14 July 2022 for Flipside Crypto's Algorand Transactions by Protocol Bounty".