Solana Protocol Feature
Question:
Choose a defi protocol from the following list and create a dashboard with the new Flipside layout that can refresh once a day highlighting at least 4 metrics of your choosing that helps show the "health" of the protocol and what is happening on it.
Note any noticeable trends or current events for the protocol. Highlight how liquidity is flowing in and out of the protocol and which pools are popular.
\n The defi protocol considered is Orca here
Introduction:
Orca is one of the most popular DEX’s on Solana and calls itself the ‘DEX for people and not programs'. It has a lot of features and has a high % of total swaps and is very popular among the folks as a DEX. One can read more about the protocol here as a beginner. You can read more about the events and the ongoing proposals on Orca here. For simple users, who just wish to transact, one can swap here.
Summary:
In this dashboard, we will be looking at the usage in Solana Defi in the past 30 days as following:
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Daily swaps on the platform
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Swaps as a % of the defi swaps on Solana
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Daily unique users using the platform
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New Users as a % of the total joining other platforms
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Capital inflow & outflow on the protocol
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Top Pools in the past 30 days
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Methodology:
For getting all data, the solana.core.fact_swaps has been used and with that , all of the data including the number of transactions on Orca vs others, the cumulative value for that, the daily users on Orca vs others, the average daily users on Orca vs Others, the inflow vs outflow has been tabulated by checking the solana_from_mint and the to mint data columns and then summed over and compared. The cumulative new swappers implies the number of new users joining the protocol in the past 30 days (super new users to Orca) The top pools have been calculated by grouping from_mint, to_mint and then summing it over
Explanation & Insights:
At the time of this analysis, the following insights were found:
- Less than 30% of all De-Fi transactions pass through Orca (28% on an average)
- The lowest on a single day was 12% of all De-Fi transactions (on 29th June)
- There has been a decrease in the number of transactions on Orca and others as well in the Solana De-Fi ecosystem
- The number of average users on Orca is three times that of any other swap program
- This implies that Orca has 3 times more genuine users than any other swap program
- Until 27th June, Orca had more new joiners than other De-Fi protocols after which it started to fall drastically
- For the past 30 days atleast, there were more new joiners on Orca than any other De-Fi protocol
- For the past 30 days, 4.61M has been the inflow vs an outflow of 4.5M . This means that there’s a net inflow of liquidity on Orca
- The capital inflow vs outflow has been on a decline in the past 30 days on Orca
- The top pools involved by number of transactions in the past 30 days are: gst-usdc, gst-wsol, gst-gmt,wsol-gst, wsol-usdc, usdc-wsol,usdc-gst, wsol-gmt,usdc-gmt and gmt-usdc
Conclusions:
At the current levels, Orca is in a healthy condition because of the number of daily active users and the average number of such to be thrice that of other protocol’s average combined
It is also healthy given there’s more inflow than outflow and that more new joiners have joined orca than all De-Fi protocols on Solana combined. The only network performance based issue might be the number of transactions to be on a decline but it still holds about 30% in the dominan e