Monthly Swap Volume

Q2. Show the total monthly swap volume on ParaSwap over the past year. How has the swap volume changed over time? Which DEX’s is most of the swap volume coming from?

What Is ParaSwap?

ParaSwap is a user-friendly, DeFi-based exchange platform created with the user's convenience in mind. Each Paraswap transaction provides the user with a summary, which includes the projected cost, price effect, and minimum received. In addition, routing information is shown to aid consumers in understanding the course their tokens have travelled and reduce misunderstanding. Important to note is that Paraswap exchanges impose no extra expenses on the user, who is just required to pay gas fees as with any DeFi exchange. Through a number of internal routing techniques, Paraswap provides the end-user with the ideal route and effective pricing. Once a user connects to the exchange, Paraswap seeks the best exchange rate using a price aggregator that retrieves off-chain pricing, and then conducts the swap using a smart contract that deposits the fee into a fee wallet. Occasionally, this may necessitate splitting a single order into many exchanges, if doing so is the most cost-effective method to complete the swap. This method reduces the necessity for users to compare prices, freeing them their time to concentrate on perfecting their trading strategy or educating themselves about the cryptocurrency market, like as via the use of CoinMarketCap Alexandria. The "Swap & Transfer" feature enables users can quickly transmit tokens to other users at any address, thereby simplifying transactions between parties.

How does ParaSwap work?

The only need for using ParaSwap is an Ethereum wallet, which is all a user needs to access the exchange. A user may create an account either using the Paraswap web app or by downloading the Paraswap app. The individual may then use a hot wallet, such as MetaMask, or a cold wallet, such as the Ledger Nano. The next step requires users to establish an Ethereum account on Ledger Live. On the Swap tab of Ledger Live, the user must choose Paraswap as the supplier. Here, the user may choose the Ethereum account they want to use and the tokens they wish to exchange. The last step consists of confirming the swap information on the user's Ledger hardware wallet.

What Is Special In ParaSwap?

Paraswap is distinctive in that it enables massive Ethereum transfers, with transactions above 15 ETH being the most efficient. Additionally, Paraswap permits transfers including contacts with many DeFi protocols. Paraswap also enables customers to combine their DeFi exchanges and execute the swaps in a single transaction, so optimizing their gas costs. While Ethereum is the primary token traded on Paraswap, the exchange also accepts payment in a variety of fiat currencies, saving customers a significant number of steps.

An objective for this dashboard

The objective of this dashboard is to display the overall monthly swap volume on ParaSwap during the last year. Then, we examine how the amount of swaps has varied over time. Finally, we explore which DEXs account for the majority of swap volume.

Analysis I:

This section will examine the monthly and cumulative swap volume on ParaSwap over the course of the previous year. Furthermore, we examine how the number of swaps has changed throughout time.

As observed in the above graph, both the monthly and cumulative swap volume on ParaSwap is progressively growing, suggesting that an increasing number of users will have used the platform in the near future. Moreover, we can see that the monthly swap volume on ParaSwap peaks in November 2021, revealing that there is a lot of swap volume this month. As our review, we found that there was ParaS

Analysis II:

This section seeks to determine which DEXs account for the largest amount of swaps. Here, we choose to examine the overall swap volume, the monthly swap volume, and the monthly swap volume percentage on ParaSwap.

As seen in the pie chart above, 77 percent of the overall swap volume on ParaSwap is in Uniswap. With 14.9 percent, Curve has the second-highest swap volume on ParaSwap. Sushiswap has the lowest swap volume on ParaSwap, at 8.16 percent.

The change in swap volume on ParaSwap in Uniswap and Sushiswap Dexs is on an uptrend, whereas that of Curve Dex is unstable over time, according to the most recent two charts. When we look at the monthly and monthly percentages of swap volume, we see that Uniswap has the most dominating pattern, suggesting that ParaSwap in Uniswap Dex is the most popular platform for ParaSwap.

Conclusion

This investigation revealed that both the monthly and cumulative swap volume on ParaSwap is rising, indicating that a growing number of users will have used the platform in the near future. In addition, we determined that the ParaSwap Airdrop event is heavily impacted by the amount of swaps, with November 2021 achieving the largest volume of swaps during the time period analyzed. Lastly, we have observed that Uniswap Dex has the highest volume of all swaps on ParaSwap.