Try Quests to earn cryptoMakerDAO Bounties - DAI Volume
Description of work: In this question we want calculate daily volume of DAI transactions and compare to other stablecoins. also we want to know what DAI is used for the most. we use `[ethereum_core]` schema `[ez_token_transfers]` and `[fact_event_logs]` tables to do this
---> The DAI is an ERC-20 token on the ethereum China block that has a fixed value equivalent to one US dollar. Dai is a StableCoin application that reduces price fluctuations due to dollar price stabilization and enables the provision of many decentralized financial services or DeFi, including lending, borrowing, and trading. The price of Dai digital currency is always kept in a constant range with the help of a smart contract called MicroDao. It is therefore known as a stable, decentralized Kevin Quinn, which can be a good alternative to Fiat currencies, including the dollar.
---> The StableCoin DAI and its entire backup protocol are designed in the MakerDAO ecosystem. Micro Dao is one of ethereum's projects that offers unparalleled transparency and economic and technical quality. The Microwave ecosystem has capabilities that allow it to build stable coins without the backing of Fiat currencies. Meanwhile, price stabilization processes in this ecosystem are completely decentralized.
Maker is an ethereum network-based system that allows users to create stablecoin Dai. There are no intermediaries or companies in this system and instead subscribers use a monitoring token (MKR or MakerDAO). This governance token gives users the right to vote so that they can make positive changes to the protocols if needed. This is exactly where the decentralized organization (DAO) was formed. All protocols in this system are managed by a distributed network of shareholders who own MKR tokens.
In this decentralized ecosystem, smart contracts and theoretical games allow Dai to achieve value stability. Apart from that, thanks to its feature, Dai even allows you to buy a product or service with them or even share in capital farms.
In this section, we want to get the daily volume of DAI. Using the [token_transfers] table, we calculate the total volume for DAI (USD) and show it daily (GROUP BY DAYS)
The highest volume for DAI in 2022 is related to Mar 25 with 73.2 M, Mar 29 with 80.5 M and April 15 with 65.6 M
In this section, we compare the DAI with each of the stable coins in terms of daily volume. we compare DAI with TUSD, USDC, BUSD and USDT in terms of daily volume
Based on the results obtained by comparing DAI with other stable coins, we conclude that the volume of USDC is higher both on a daily basis and in general, and DAI is smaller than others.
In this section, using the ez_token_transfers table, we get a list of tx_hash related to DAI and join fact_event_logs based on tx_hash . Then in the fact_event_logs table based on EVENT_NAME we count the list of events used for DAI based on EVENT_NAME and show the top 10
Based on the results, it can be seen that DAI is mostly used for transfer and then swap