Try Quests to earn cryptoAlgorand Transactions by Protocol
Introduction:
This dashboard is answering Q115. Using the following App ID lists from Folks Finance, AlgoFi, Tinyman, and AlgoDex, lets look at what percent of transactions their app calls and associated transactions(transactions in the same tx_group_id) make up on the Algorand blockchain.
How have the number of transactions changed over time for each Protocol? Also how much in fees have been spent on transactions relating to each protocol? Other things that can be explored are what type of transactions are each protocol producing, or has the price of ALGO been an influence on the number of transactions produced by each protocol.
Note anything interesting that you find during your analysis!
Conclusions:
The dex with most daily transactions is Tinyman, by a large margin, it has been steadily falling this year but is still number 1. At the beggining of the Year AlgoFi and Algodex started at a similar point with the former growing quite a bit into a comfortable second place and the later (with a similar trend as Tinyman) falling into the fourth spot. The smallest and most erratic dex is Folks Finnance which since its deployment in April has had spikes and valleys, its not to clear yet whether its growing or getting smaller, but latley it has moved on to 3rd spot, not due to its growth but rather thanks to Algodex decreacing its daily transactions.
In regards to what types of transactions are being executed on each dex Tinyman and Algo dex seem to have a similar distribution. They are the ones with most volume diference, currently number 1 and 4, but they are also the two who show a constant downwards trend, so there might be a correlation between them having 50% payment with a 25% - 25% split between aplication calls and asset transfers with their declinig usage.
AlgoFi, the only clearley growing dex, has more than 90% of ists transactions in the form of application calls.
The newcomer folks finance has a >50% application call distribution of transactions, with some asset transfers and little payments.
The difference between transaction type distributions seems to show a decline in payments. Since the dexes who have them as the major transaction driving force are the ones declining, while the ones focused on application calls or asset transfers are either growing or erratic.
In regards to ALGO price all dexes seem afected with a decline in daily transactions since the begginig of the year. Even more marked in mid May after the Terra crash. (with exeption of Folks Finnance, which is not constant but has been running for a much shorter time.)
Summed transactions on Folksfinance, Tinyman, AlgoFi and Algodex, represent 15,53% of all transactions on the Algorand blockchain.
Out of the four dexes, Folks finnance seems to be the one with less daily transactions. Transaction volume on this dex is erratic, spikes and valleys, generally acumulating between 0,5 and 4 algo in fees daily. It has of course, been running since April, and is the newcomer in this case.
Tinyman seems to have the most amount of daily transactions out of the four dexes. With sustained downards tendency in daily transactions and a big dip in the first days of January, probably due to the infamous Tinyman hack. The fee amounts are falling with the whole trend, but extreems, without taking in account the January hack, range between 62 and almost 800 algo daily.
AlgoFi is the second most popular dex, it has seen a jump in daily activity starting late Febuary and spiking in May (560 algo in fees in top spike). General fees per day have been latley between 40 and 70 algo. This protocol has definitley grown this year.
Algodex ranks 3rd in daily amount of transactions, and has been steadily falling this year falling from a 26k daily tx volume at the begining of the yaer (closley competing with AlgoFi to a 300 daily tx level, which would currently position it in 4th place, under Folks Finnance. Their fee levels fell with the genenral trand from 26 algo pr day to less than 1 algo. (Starting in Febuary, it seemed to have a promising begging but has been falling ever since).
Methodology:
For the development of this dashboard the Algorand.transactions table and Algorand.application_call_transaction table were mainly used.
All charts were made using 2022 data (‘2022-01-01’).
App ID lists: --Folks finance App IDs:
(776179559,
776176449,
752770929,
751285119,
747239433,
747237154,
743685742,
743679535,
696044550,
694464549,
694405065,
686876641,
686875498,
686862190,
686860954,
686501760,
686500844,
686500029,
--tinyman App IDs:
(649588853,
350338509,
--algoFi App IDs:
(705663269,
705657303,
674527132,
661247364,
661207804,
661204747,
661199805,
661193019,
661192413,
659678644,
659677335,
658337046,
658336870,
647785804,
647785158,
641500474,
641499935,
639747739,
639747119,
611869320,
553866305,
482625868,
465814222,
465814065,
674526408,
637795072,
637793356,
635866213,
635864509,
635863793,
635860537,
635813909,
635812850,
611867642,
611804624,
611801333,
605753404,
553869413,
482608867,
465818260,
465814318,
465814278,
465814149,
- \
—- Algo dex App IDs:
(354073718,
- \
More than half of all dex transactions are aplication calls, asset transfers is also a very relevant use.
Payment is the most popular type of transaction on Tinyman this year. Asset transfers and application calls are at a close level and remain very relevant actions in the protocol.
On this protocol, the most popular type of transaction are application calls, by a large margin.
Payments once again is the most popular transaction type with relevant and closley tied application calls and asset transfers.