To date, about 110k swaps have been performed by 2,394 traders on the Increment Finance platform. These swaps collectively account for a significant total volume of approximately $45.7 million.

The two primary swap pairs, "Flow to USDC" and "USDC to Flow," dominate the platform's swap activities. Together, they represent nearly 97% of the swap volume. Specifically, "Flow to USDC" constitutes 49.89% of the total volume, while "USDC to Flow" makes up 47.47%. Notably, other swap pairs account for a modest 2.6% of the total swap volume. This indicates that while there is some diversity in swap options, the Flow-USDC pair is highly favored by users.

The number of traders on the platform experienced a significant decline after January 2023, with an average of about 50 traders per month. However, the highest number of monthly users was observed in the months of June, July, and August 2022, showcasing historical peaks in the number of traders.

The volume of swaps has demonstrated fluctuations over time. A notable decline has occurred in the past three months, resulting in a monthly swap volume of roughly one-third of that seen in July 2023. On the other hand, the platform experienced its highest volume of swaps in the first three months of 2023.

A significant observation pertains to the 0xa594431e22eee79d, which stands out due to its enormous swap volume of approximately $29.3 million. Impressively, this address is responsible for about 64.2% of the total swap volume on the Increment Finance platform! Additionally, the number of swaps conducted at this address accounts for approximately 10.3% of all swaps on the platform.

Analyzing Increment Finance Protocol