[THORChain] - Distribution of Swaps in $RUNE and USD Values
Bounty Question: Show the distribution of swap sizes in both $RUNE and USD, both for all pools as well as broken down by pool.
What Is THORChain (RUNE)?
THORChain is a decentralized liquidity protocol that allows users to easily exchange cryptocurrency assets across a range of networks without losing full custody of their assets in the process.
With THORChain, users can simply swap one asset for another in a permissionless setting, without needing to rely on order books to source liquidity. Instead, market prices are maintained through the ratio of assets in a pool (see automated market maker).
The native utility token of the THORChain platform is RUNE. This is used as the base currency in the THORChain ecosystem and is also used for platform governance and security as part of THORChain's Sybil resistance mechanisms — since THORChain nodes must commit a minimum of 1 million 300k RUNE to participate in its rotating consensus process.
Methodology:
First, the flipside_prod_db.thorchain.swaps table was used and some parameters were calculated for swap to and from RUNE. Then, both types of swaps were brought together in one place to calculate the size distribution of swaps. Then the swap type was also applied so that the results can be seen more clearly for RUNE and USD. Then the top 10 RUNE and USD pools were obtained. For these pools, we tried to display better results by including the swap type.
- The following parameters have been calculated for both types of actions (swap into (left) and swap from(right)):
- Total amount of swaps
- Total amount of swaps (in USD scale)
- Total number of swaps
- Total number of unique swappers
- Average amount of RUNE swapped per swap
- Average amount swapped per swap in USD scale
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The higher total amount tells us that the swap from the RUNE token was slightly higher than the swap to the RUNE token. (about 1.6 percent)
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In the USD scale, this is also close and there is a difference of about 1.3%. The reason for this reduction can be found in the difference in the price of the RUNE token over time.
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Contrary to the amount of swaps, in the number of swaps, there is an advantage with "swap to". This superiority has been in amounts below 1%.
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In the number of swappers, but a difference of about 14%, it shows that users are more inclined to swap to RUNE than to swap from it.
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On average, 535 of these tokens have been swapped in the swap of RUNE, while this amount is slightly less in the swap and around 520 RUNE.
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It is not far from the expectation that it will show its existing difference in the USD scale. 2360 USD on average per swap from and 2300 USD on average per swap to.
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The size distribution of RUNE swaps shows that more than 50% of the swaps made were in the range between 100 and 500 RUNE, which in terms of USD scale, with more than $3.3b, this group is 28.4% of the total value of swapped RUNEs. (in USD scale)
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The first rank in terms of USD value belongs to the last group (above 1000 RUNE), which accounts for more than 45% of the value of swapped RUNEs (in USD scale). In terms of the number of swaps, this group ranks third and has more than 12% of all RUNE swaps.
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In the classification of swaps based on their USD value, about 54% of all swaps had a value higher than 1000 USD. This category of swaps accounted for more than 85% of all swapped RUNEs. (about 2.3 million of RUNE tokens).
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This distribution above shows that swaps worth less than $100 actually comprise only three percent of RUNE swaps.
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The last two graphs also show which type of swap was the best in each distribution group. No particular pattern can be observed here. The last two charts show that the Swap to and Swap from are moving closer together.
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In both cases (both the amount of swapped RUNEs and the dollar amount of swapped RUNEs), the BNB.BUSD pool with a share of more than 40% is the largest pool for users who intend to swap to and from the RUNE token.
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In both parameters, the first four ranks are shared between them and as follows:
BNB.BUSD
BTC.BTC
ETH.ETH
BNB.BNB