DEX Popularity: Tinyman, Algofi, Pactfi

    Q70. Since the beginning of April, how has the growth of AlgoFi and Pact impacted swaps on Tinyman? Show us how the Algorand DEX ecosystem is changing as each DEX grows. Do we see a change in the number of wallets swapping on these DEXs? Do we see a change in the volume of ALGOs being swapped on Tinyman and the other DEXs? Are ALGO whales swapping on certain DEXs more than others? Have we seen has the recent price change in ALGO impact the number of swaps/wallets/volume on the DEXs? If so, how?

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    Tinyman and How Tinyman using Algorand

    Tinyman is a decentralised exchange (DEX) which utilizes the fast and secure framework of the Algorand blockchain to create an open and safe marketplace for traders, liquidity providers, and developers on Algorand. More specifically it is an Automated Market Maker (AMM) exchange employing the Constant Product Market Maker algorithm. This is the same concept pioneered by Uniswap V2.

    Tinyman, built by a team with experienced fintech backgrounds, is on a mission to realize the full potential of DeFi, or financial tools that run on blockchain and are inclusive, accessible, and profitable for users far and wide.

    Tinyman has been able to overcome scalability and usability challenges--big hurdles for some emerging DeFi ecosystems--by leveraging the Algorand blockchain’s decentralized layer-1 solution, which utilizes the unique Pure Proof-of-Stake (PPoS) consensus mechanism. The Algorand PPoS protocol enables platforms like Tinyman to scale to millions of users while sustaining a high transaction rate without incurring significant cost to participants, and while remaining energy efficient and friendly to the planet. (Algorand and Tinyman Docs)

    In the chart above, we see the Number of transaction on Tinyman. From Jan 10 to 18, it recorded the lowest transaction value, then increased suddenly, and then continued the decreasing trend.

    The Number of Transaction chart view in the two DEX Tinyman and Pactfi is similar, meaning that they have the same trend, although they differ in the number of transactions. For example, the transaction rate in Pactfi on May 12, which is the highest value during the period, is 22.363 k But for Algofi on the same day it recorded the highest value at 31.331k