Try Quests to earn cryptoOpen Analytics Bounty: ETH (October 16)
Paraswap
Paraswap solves problems of shortage of liquidity by providing liquidity across multiple exchanges. It also additionally gives user powers to select an exchange or split his order across multiple exchanges. It helps traders to get fair and best prices possible across the Ethereum network. Currently, it only focused on the Ethereum blockchain where most of the DeFi projects are created so supports Ethereum and ERC20 Tokens but they want to become a go-to the platform for token swaps regardless of the product type. It could be a blockchain-based game, a prediction market, or a payment app that allows its users to pay the best price using any token. Initially, Paraswap only supported trading of tokens (ERC20) based on Ethereum Network, In May 2021, they added supports for assets created on Binance Smart Chain (BSC) and Polygon (Matic Network). So users can trade BEP-20 and also ERC20 (Matic) tokens as well.
Methods
I use ethereum.core.fact_event_logs , optimism.core.fact_event_logs , arbitrum.core.fact_event_logs & polygon.core.fact_event_logs and of course filter transactions with event_name = 'Swap' because i just want swap transactions.
Paraswap address on these four network:
'0xdef171fe48cf0115b1d80b88dc8eab59176fee57'
All data and reviews are from Jul 10 because I wanted the data of all networks to start from the same date
Metrics
- Number of Swaps per Network
- Number of Unique Users per Network
- Number of Pools per Network
- Number of New & Total Users
- Total Number of Swaps per Network
- Total Number of Unique Users per Network
- Average Number of Swaps per User
- Top 10 Swap from Asset
- Top 10 Swap to Asset
Paraswaps In Overtime
Each network has its active and loyal users who prefer to do all their activities on those networks, so a DEX that is active on several different networks can attract many users, and exactly Paraswap is one of those DEX that It is active on several networks, this DEX is active on Ethereum and layer 2, and now let's see if this famous DEX has more fans on Ethereum or on layer 2.
The number of paraswap swaps was on a quiet and steady trend from July to early October, and we had no increase in the number of swaps on any network, and this dull trend continued into early October.
From around October 7, the number of swaps in this DEX increased explosively, but the point is that this increase in the number of swaps only happened on the Polygon network, and we did not see a large increase in the number of swaps in other networks.
If I want to show you exactly what I mean by the sharp increase in the number of swaps, I must tell you that the number of Paraswap swaps was 1,660 on October 6, but the number of swaps on this DEX reached 13,400 on October 19, which means an increase of nearly 800% in the number of swaps in this DEX, so do you think we can call this something other than explosive growth?
Of course, a very important point that I mentioned earlier is that this sharp increase in the number of swaps occurred only in Polygon and we did not have such an increase in other networks. The swaps were close to 50%, but after this growth reached 90%, which shows the increase in popularity of this network in Paraswap, because 90% of user activity in this DEX is for Polygon.
In the number of active users of this DEX, we have exactly the same conditions, and after the beginning of October, we had a huge increase in the number of active users of Paraswap, and this increase was only in the Polygon network, and this is another sign of the increase in the Polygon network among the active users of Paraswap.
At the beginning of October, good news was published for Paraswap, and it is likely that this news has increased the activity of users in this DEX.
ParaSwap announced on Twitter that it found no Profanity vulnerability after investigation, and it will follow up with analysis and an explanation of how it made sure the deployer address had no power.
Previously, Web3 security company Supremacy said that ParaSwap's deployer address private key might have been compromised due to Profanity vulnerability, and funds had been stolen on multiple chains. But ParaSwap said the address had no power.Source
Total & New Users
The trend of attracting new users in the two big networks, Ethereum and Arbitro, has been declining, and in the Optimism network, the number of users attracted is very low, and compared to other networks, it is considered very low.
In Polygon network, the situation is completely different, and this network has been very effective in attracting new users, so that this network has attracted 6700 new users in just one day, on October 19, which is a very good number, and this network has been around for a long time. that the activities of Paraswap increased, that is, since October 6, the total number of active users of the Polygon network has increased from 12,000 to 48,000, and this means that this network has been very successful in attracting new users, and this shows that Paraswap is performing very well. It has been popular in the network because it has attracted many users
Total Stats
You must have noticed by now that Polygon is very popular among Paraswap users, and this network alone showed that layer 2s are much more popular than Ethereum because they have more users and swaps.
The total number of swaps in Polygon is 190,000 swaps, while the total number of swaps in the Ethereum network is 38,000 swaps, which shows how much more popular this network is than Ethereum. The total number of active users of Polygon is 48 thousand users, which is a very good number for Paraswap, while the total number of active users of Ethereum is 10 thousand users, which is almost a fifth of Polygon.
The number of swaps per user in the 3 networks,Ethereum, Optimism and Polygon is very close to 3.9, which means that each user does 4 swaps on average in these networks, but the users of the Arbitrum network are not very active because they are on average They do only 3 swaps and this is 25% less compared to other networks, and this shows that Arbitrum is less popular than other networks.
Most Popular Assets
The most popular asset in all 4 networks is USDC, whether it is converted to another asset or converted to another asset.
In the Ethereum network, 10 thousand swaps from USDC to other assets have been registered, and on the other hand, 10 thousand swaps from other assets to USDC have been registered.
In Polygon network, 44 thousand swaps have been registered for swapping USDC to other assets, and this means that the most transfer of paraswap assets is done in Polygon network.
Thanks for reading
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All data used are from: Flipside Crypto
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My Twitter: Sepehrmhz8
Conclusion
As I told you at the beginning of my speech, DEX can work in different networks will definitely be very successful, because every network has its loyal and active users.
You must have realized by now that if Parareswap was not active on the Polygon network, it would not have the number of users and popularity it has now, because its users are much more active on this network than on other networks.
