Introduction

THORchain is a web3 project that seeks to facilitate the exchange of native assets across different chains. Traditionally, Ethereum users can only have the wrapped version of Bitcoin and other non-native assets. Another option for users is to use centralized exchanges but with THORchain, users can swap assets for native Bitcoin in a permissionless manner with no intermediaries.

Exchanges are made possible by liquidity pools interconnected by THORchain swapping technology.

Objective

With this analytical dashboard, the goal is to investigate the total value locked (TVL) in THORchain pools over time. Much attention will be paid to TERRA.LUNA and TERRA.UST pools which are of interest to flipside crypto.

Pool Metrics

To get an overview of the nature of THORchain pools, let us look at the total value locked across the various pools. In the donut chart below, observe the TVL of THORchain pools on April 12, 2022, at 6.40 AM GMT.

The BTC.BTC pool has about 89M USD worth of value locked which represents 21% of the platform TVL. ETH.ETH comes second with 16.3%, followed by BNB.BUSD with 11.5%. New arrivals, TERRA.LUNA and TERRA.UST occupy the 4th and 5th positions with 9.63% and 7.49% respectively.

Now let's get more historic insight into how the TVL of these pools has changed with time. We do this by picking the top 7 pools by TVL which includes TERRA.LUNA and TERRA.UST and chart the TVL over time. Observe the results in the time series chart below.

TERRA.LUNA and TERRA.UST launched in late March 2022 but quickly rose to surpass ETH.THOR and BNB.BNB in less than 7 days as 4th and 5th respectively. The TVL for TERRA.LUNA peaked at 56M USD on April 5, 2022, while the peak for TERRA.UST came much earlier on April 4 at 40M USD. Currently, the TVL for both Terra pools is within the range of 30M - 50M USD.