2. Do we see a change in the number of wallets swapping on these DEXs?

Introduction

This dashboard offers a data view of the shifting landscape of Algorand decentralized exchanges: Tinyman, AlgoFi, and PactFi.

Methodology

We calculate the following metrics daily from the beginning of April 2022 up until the date of analysis (20 May 2022):

• the number of daily swaps by DEX,

• the daily number of wallets swapping,

• daily volumes of ALGO swapped to and from on each of these DEXes,

• the swap activity of whales (number of all swaps and total value of ALGO swaps); we define whales as wallets with balance of 100,000 ALGO or more according to the most recent data on the date of the analysis, the initial attempt to define whales as 1M+ ALGO holders did not result in enough data -- it produced a DEX swap table with only two rows;

• the daily closing price of ALGO calculated from its prices in swaps.

We then interpret the data results.

Results

1. Do we see a change in popularity for these DEXes?

3. Do we see a change in the volume of ALGOs being swapped on Tinyman and the other DEXs?

4. Are ALGO whales swapping on certain DEXs more than others?

5. Have we seen has the recent price change in ALGO impact the number of swaps/wallets/volume on the DEXs? If so, how?

Takeaways

• Among the three DEXes, while Tinyman is the most popular by swap count, PactFi appears to be gradually gaining more popularity. AlgoFi has seen more cyclical popularity. (This is excluding the outlier days of May 11 & 12, 2022, when activity on all DEXes spiked, driven likely by the Terra collapse and general market price drops and unrest.)

• By the number of unique swappers (wallets), Tinyman is actually trending downwards. PactFi seems to show very slow but steady active user base growth, whereas AlgoFi has had a spike in users in recent days (after the fateful market week, so likely not skewed by it).

• There is hardly any noticeable change in amounts of ALGO swapped, other than the aforementioned outlier week earlier in May. Overall, by amount of ALGO swapped, Tinyman's lead ahead of other DEXes appears narrower.

• Whales (wallets with 100k+ ALGO in balance as of the date of analysis) do most of their swaps on Tinyman among these three. By amount ALGO (among swaps involving ALGO only), most of the regular swapping by whales takes place also on Tinyman, however on several days there have been very large amounts ALGO that whales moved on AlgoFi.

• The lower the ALGO price, the more swaps take place on the DEXes (the last graph shows the comparison only with Tinyman due to visualization constraints, however the swap counts on other DEXes move similarly day-to-day as visible on the first graph, therefore this can be applicable more broadly to the Algorand DEXes).