DOGE-RUNE LP-ers

    How many of the THORChain wallets that added liquidity to the $DOGE-$RUNE pool were new (created on or after Jan 15th)? Of the existing wallets (created before Jan 15) that added liquidity to the $DOGE-$RUNE pool, how many of them withdrew liquidity from other pools before adding to the $DOGE-$RUNE pool?

    Introduction

    On January 17, 2022, Thorchain launched support for Dogecoin, the first time the stand-alone chain has been fully supported on a decentralized finance platform. Since its inception, Dogecoin has been an island on its own until now.

    With Thorchain's cross-chain liquidity, crypto users will be able to onboard and exchange DOGE for any other supported digital asset, in a decentralized fashion, natively, without wrapping.

    Decentralized finance involves a lot of players of different kinds. The DOGE-RUNE liquidity pool setup to facilitate cross-chain DOGE transfers will need liquidity from providers to make this possible. This data investigation shall look at the number and characteristics of DOGE-RUNE liquidity providers.

    New Liquidity Providers

    Let us start off by looking at the number of liquidity providers who decided to provide liquidity on the Thorchain network due to the launch of DOGE support. The criterion for this group will be LP wallets that were created on the 15th of January, 2022, or later. There are currently 29 new liquidity providers per our criteria at the time of this writing.

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    Oldheads

    This section presents the portion of DOGE-RUNE LP wallets that were created before the 15 of January 2022. There are 82 oldhead wallets in all.

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    LPers Who Removed Liquidity

    Now we want to know the number of the oldhead LPers who removed liquidity 3 days before the launch of the DOGE-RUNE pool. In essence, we are trying to say that these LPs removed liquidity in order to provide for DOGE-RUNE. There are 5 wallets that fit this profile.

    Summary of Findings

    • There are 29 DOGE-RUNE LPers that are created after 15th January 2022.
    • 82 wallets were created before 15th January 2022.
    • 5 wallets removed liquidity 3 days before the launch of the DOGE-RUNE pool.