Key Insights

About a week after the Airdrop event, we saw a drop in both the number of transactions and the total volume of trades. It went from a high of 220,000 to 80,000. Among the three DEXs, Astroport had the highest share of transactions, users, and trading volume. Seaswap came in second place. Right after the Airdrop, we noticed a surge in new users trying out these DEXs. In the last 30 days, approximately 893 new users engaged with DEXs, averaging about 28 new users daily. Over the past few weeks, the trading volume has decreased by 50%. Users favoured trading USDCeth (which are stablecoins bridged from the Ethereum chain) and Sei. These tokens accounted for 72% of the total trading volume. On average, each swap transaction involved 1.2 individual trades, and users paid a transaction fee of 0.0014 US dollars. It appears that some large investors (whales) provided liquidity to specific pools in the initial days. Among all pools, the USDCarb/USDCeth pool with 500,000 US dollars in liquidity ranked as the top pool.

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