Swap Size Distribution

    How Swap Size Is Distributed Across THORChain

    1. Introduction

    The objective is to find the distribution of the size of swaps on THORChain. To start with, a general overview of THORChain swaps is essential to get an idea of what to expect.

    2. Swap Size Metrics

    In order to investigate the distribution of swap sizes, we create 5 categories based on size with equal intervals. The categories are:

    • < 1000 USD - Swap sizes less than 1,000 USD
    • 1000 - 1999 USD - Swap sizes from 1,000 USD to 1,999 USD
    • 2000 - 2999 USD - Swap sizes from 2,000 USD to 2,999 USD
    • 3000 - 3999 USD - Swap sizes from 3,000 USD to 3,999 USD
    • 4000+ - Swap sizes 4000 USD and above.

    The initial assessment of the THORChain ecosystem (by blockchain) using the above categories shows the following distribution presented in the pie chart below. We can see that swaps sizes of less than 1,000 USD account for 56.7% of the overall THORChain swaps, with the rest distributed across the other categories.

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    Next, the investigation takes a deep dive into the distribution of the categories by blockchain. To begin with, let's see what the average swap size looks. Swaps from BTC has the highest average of about 12k, followed by ETH with 9.2k and THOR with 5.1k.

    3. Swap Distribution by Blockchain

    Now let's dive deep into the various blockchains to see how the various swap size categories are distributed. Starting with BCH, the majority of swaps from this blockchain are less than 2000 USD, with a relatively small portion worth 3,000 USD and above.

    Like BCH, swap sizes for BNB follow a similar pattern. The majority of swaps from BNB are less than 2,000 USD with a relatively small portion worth 3,000+ USD.

    For swaps coming from Ethereum, we see a different pattern from BCH and BNB. The majority of swaps coming from Ethereum are worth 2,000 USD or more whiles a relatively smaller portion comes from swaps worth 1,000 USD or less.

    For BTC, over 10k swaps are worth 4,000+ USD, with about 5k swaps less than 1,000 USD in size. A smaller portion of the swaps coming from BTC fall between the ranges of 1,000 - 3,999 USD.

    Next up is the THOR network. Here, we can see somewhat of a uniform distribution across the spectrum of categories. At one end, there are about 30k swaps worth over 4,000 USD, and at another end, there are about 29k swaps worth less than 1,000 USD. Swaps worth 1,000 - 3,999 are distributed evenly across the 3 middle categories.

    Swap transactions worth below 3,000 USD is the most common type of swap coming from the LTC network. Swap sizes exceeding 3,000+ make up a smaller portion of swap transactions on the litecoin network.

    4. Conclusion

    BTC and Ethereum networks were found to have more swaps worth over 4,000 USD. THOR network swaps are somewhat evenly distributed across 0 - 4000+ USD, while BNB, LTC and BCH networks have the majority of their swaps less than 1,000 USD.