What Are Users Swapping gALGO3 For?

    gALGO3 is an asset that is pegged to ALGO. Users can lock their ALGO up on Folks.finance for governance and while their ALGO is locked they receive gALGO3 and you can use it for other defi activities. Read more about it here: https://docs.folks.finance/protocol-architecture/algo-liquid-governance Let’s look what users are swapping their gALGO3 for while their ALGO is locked in governance.

    Governance is a mechanism to commit changes on the protocol. Governance were made among small community member, like Terra for example. This mean, only those member of the protocol's community with the set minimum amount of token owns can govern, and make vote for any changes on the protocol.

    Starting October 2021, Algorand ecosystem has changed to decentralized Governance model. This is an exchange to a community governance that allows all Algo holders to make their play a part in the protocol growth, helps in making decision.

    Folk Finance governance is slightly different where it allows user to still held liquidity for Algorand Governance (GP3) by distributing a new asset name gAlgo3 which is minted at 1:1 value with Algo. In this dashboard, we will try to analyze gAlgo3 activities.

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    percentage of Swap from tinyman Dex is 88.4% and is higher than pactfi ‌.

    The chart above is a line chart with two values, swap to and swap from gALGO3 transaction As we can see, these two graphs have a similar trend, ie as the Tinymans tx transaction increases, the pactfi tx transaction also increases.

    The number of swap to and swap from gALGO 3 can be seen in the diagram above On most days the amount of Swap to is more than swap from, like on days apr 9_10_12_15_20_21_22_23_24_ and may 1and2

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