Algorand DEX Tooling
Introduction
Algorand, as a Layer-1 blockchain, consists of a dynamic ecosystem of dApps and DeFi protocols. For this ecosystem to thrive, a decentralized exchange (DEX) is a must to provide liquidity for layer-2 projects developed on the network. Decentralized exchanges further build on the promise of decentralized finance, users are able to provide liquidity to facilitate the exchange of their favorite ASAs and stablecoins. Most importantly, users can transact their assets without any intermediary facilitating the exchange.
In this analysis, an overview dashboard of swaps conducted on all of Algorand’s DEXs has been designed to evaluate the overall swaps activity in the network during the designated date range with the preferred time interval.
Methodology
The swaps data were selected from the fact_swap table of the DeFi schema of the Algorand database. The date range and time interval of the analysis are customizable using the parameters above. Their default value has been set to measure the daily swaps through the last 30 days. The U.S. dollar price of assets involved in the swaps was selected from the ez_price_pool_balances table for ALGO and from ez_price_swap for other assets.
==It is worth mentioning that this dashboard is designed using parameters to allow users to adjust the time frame of the analysis according to their needs, hence, making it challenging to provide relatable insights for the presented charts. Nevertheless, the aim was to visualize the charts in a way that they would be easily understandable.==
Total Swaps Over Time
Conclusion
In conclusion, the overall analysis of swap activity on Algorand has demonstrated that Tinyman is the dominant decentralized exchange on the network over different periods with a total swaps share of around 70%. The volume of swaps has remained relatively the same and only reacted to industry-scale events such as the FTX collapse. The swappers have been active more on the weekdays compared to the weekends, especially between morning and late night on Tuesdays and Wednesdays. Although wallet addresses with various ages have been active on the DeFi segment of Algorand, wallets with an age of 6 months to 1 year have had around 70% of the daily swaps share on average. USDC has had the highest volume of swaps both from and to it, while ALGO has been used by the majority of swappers. More than half of all swappers have between 1 to 100 ALGOs in their wallets. All the wallets combined are holding nearly 21 ALGOs. Similarly to the swaps, USDC has been the other most held token among the active swappers.
Swaps on DEXs Over Time
Swaps on DEXs Overview
Swaps From and To Tokens
Token Holdings of Swappers
Swaps Averages of Age Groups
Swaps of Swappers Based on Their Age Over Time
Heatmap of Total Swaps