Orca User Growth

    Q76. Orca, a popular decentralized exchange on Solana seems to have been gaining significant adoptions over the last few months, especially compared to other exchanges. Create a visualization showing Orca adoption in terms of swap volume and number of unique wallets compared to at least two other popular Solana exchanges and Uniswap on Ethereum? What can explain this increase in adoption? Provide some insights on this trend and the types of users using Orca (hint look into which popular app on Solana is using Orca).

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    Overview

    It was so essential for us to examine the number of Unique users and The number of transactions for Orca, most notably since march, and then make a comparison with Uniswap from the Ethereum network and other Solana DEXes to see if the significant changes happened for Orca is related to all market or just growth of Orca.

    Orca Unique Users

    The below line chart shows the number of Unique users for Orca, Uniswap, and Other Solana DEXes since Orca's inception. We could separate the period into two intervals. The first interval is from Dec 2021 to Mar 2022, and the second is after Mar 2022. In the first interval, we saw a regular trend for Orca and other DEXes and the point is Orca's Unique users were lower than Raydium, Uniswap, and Jupiter. But after Mar, and in the second interval, Orca started the uptrend and passed all the other DEXes in the number of unique users. There are two reasons for this significant user growth, the first one is integrating STEPN to Orca to facilitate swaps for their users, and the second is adding whirlpools to increase the yield with lower assets.

    Which DEXes had the most transactions since Orca's inception?

    The line chart below shows the number of transactions for Orca, Uniswap, and other Solana DEXes. In this chart, before April, the number of transactions in Orca was lower than Raydium and Jupiter, but after April, the growth in transactions occurred for Orca. There is a point in this chart that we couldn't see in the previous one; It is after April, the maximum number of transactions was related to Jupiter, not Orca, and besides the growth of Orca, Jupiter grew too.

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    Conclusion

    In summary:

    1. The growth of Unique users and the number of transactions for Orca was related to integrating STEPN to Orca and adding Whirlpools.
    2. In comparison with other DEXes, just after April, Orca passed other DEXes, and before that, Orca had nothing to say.