Initial Swap Volumes of LUNA and UST
LUNA and UST on THORchain.
On March 25, 2022, THORchain launched the TERRA.LUNA and the TERRA.UST pools to mark an essential feat in the platform's history. Over time past months, THORchain has been slowly adding support for other chains and the addition of the Terra coins was met with much enthusiasm. Before LUNA and UST were added, DOGE was the lasted addition opening up the DOGE network to smart contract capability. The objective of this brief publication is the compare the first 3 days of DOGE on THORchain to LUNA and UST.
DOGE was launched on THORchain on January 17, 2022. Therefore, three days after launch is January 17 - 19, 2022. The area chart below shows the swap volume in USD three days after DOGE launch on THORchain.
By observation, we can see that there was a massive swap volume within the first hours after the launch of DOGE on THORchain. In the first few hours, there was over 50k USD worth of volume transacted. The volume was subsequently reduced staying under 5K USD per block with a handful breaking the upper threshold.
LUNA was launched on THORchain on March 25, 2022. Therefore, three days after launch is January 25 - 28, 2022. The area chart below shows the swap volume in USD three days after LUNA launch on THORchain.
For LUNA, we can see that there was no astronomical volume in the first few hours after launch, but volume per block stayed below 10k USD. However, we can see more breakouts through the 10k threshold with a peak of 89k on March 26, 2022.
UST was launched on THORchain on March 25, 2022. Therefore, three days after launch is January 25 - 28, 2022. The area chart below shows the swap volume in USD three days after UST launch on THORchain.
UST volume in the chart above looks very similar to that of LUNA except for the fact that UST volume is much higher than that of LUNA. This is evident in the fact that the average for UST is around 20k USD and the peak volume for a single block is >130k USD.
Conclusion: DOGE garnered astronomical volume in the first few hours after launch but volume quickly declined. LUNA and UST started slow but maintained a consistent volume with occasional peaks.