Try Quests to earn cryptoTerra mAsset After Announcement of Uniswap Ban
This dashboard discusses the effect of Uniswap's announcement of banning the trading of mAssets through their website.
The TVL of mAssets on Terraswap, hence Mirror, is not affected by the Uniswap ban announcement, although a slight reduction is seen on both volume and number of transactions. The announcement only affected the TVL, volume in USD, and number transactions of Uniswap mAsset pools. Both of these facts lead to the conclusion that Uniswap have little to no effect on Terraswap / Mirror.
Uniswap's mAsset volume suffered a huge hit both in USD and number of transactions, but it only happens a week after the announcement. mAsset volumes not immediately decreasing after the announcement shows that users are still likely to trade without a frontend supporting it however it might be too troublesome after a while, thus causing the drop.
But shouldn't the announcement have an impact on mAssets? To find out, the TVLs and volumes of Uniswap mAsset pools are found out. Based on the graph below, the TVL of mAssets is about 15% lower on Uniswap after the announcement. Note: the empty bar on July 22nd is because the amount_usd returns 0 on that date, probably an error on Flipside's data.
Terraswap's mAsset volume has taken a little hit after the announcement. The volume was as low as 1M USD across all the mAsset pools 2 days after the announcement, and have since settled at about 2M USD across all the mAsset pools, which was about 2-3M USD on normal days. The transaction count shares a similar story to the volume, where the number of transactions are slightly lower after the announcement.
Terraswap's TVL before and after the announcement seems to remain unchanged. The TVL is calculated by multiplying the amount of UST in the contract address by 2, since the pools are 50-50 in ratio, which means the amount of the mAsset locked in a pool should have the same worth of the amount of UST in any pool.
On July 23rd, Uniswap announced that they will be banning synthetic stock tokens on uniswap's website. However, the tokens can still be traded on the blockchain and also Terraswap. So did this announcement affect mAsset pools on Terraswap? Let's find out.