105 [THOR] L1 Deposit Rate
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Methodology
I'm looking at the single-sided swaps from various L1s and excluding swaps that use RUNE as an intermediary.
Observations
- BNB leads the L1s in the most amount of swaps to RUNE originating from there.
- Until May 2022, ETH was the second or third most popular L1 but in May, this stopped which is susprising given the low gas fees.
- Thorchain represents pretty highly after March 2022. This is the synths being burnt i.e. swapped to a different asset.
- Terra's life on Thorchain was pretty short lived. After Terra's crash, BNB has again acquired more than 70% share of the swaps.
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