Try Quests to earn AVAXWhat's going on with Avalanche?
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, bsc.core.fact_event_logs & avalanche.core.fact_event_logsand of course filter transactions with event_name = 'Swap' because i just want swap transactions.
Paraswap address on these four network:
'0xdef171fe48cf0115b1d80b88dc8eab59176fee57'
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 pairs
- Top 10 Swap from Asset
- Top 10 Swap to Asset
- Total Amount Fee spent(USD)
- Average amount Fee spent (USD)
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.
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.
In Paraswap, Avalanche network is relatively popular and from July to the beginning of this year, more than 10% of Paraswap swaps have been done in Avalanche network, and this network has always been more popular than the two very popular layer 2, Optimism and Arbitrum. And in this network, we see that the number of pools is . two layer 2
Total & New Users
The trend of attracting new users in the two big networks, Ethereum and Arbitroum, 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 the Avalanche and BSC networks, we have seen that the number of new users has been in a completely upward trend since the end of October, and these two networks were successful in attracting new users to Paraswap, so that on November 23, we see that the Avalanche network attracted 255 new users.
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 523,000 swaps, while the total number of swaps in the Ethereum network is 61,000 swaps, which shows how much more popular this network is than Ethereum. The total number of active users of Polygon is 115 thousand users, which is a very good number for Paraswap, while the total number of active users of Ethereum is 14 thousand users.
After these two very powerful and popular networks, the highest number of swaps is for the Avalanche network, in total, users made 30,000 swaps in this network, and this number of swaps was done by 7,000 users, which shows that this network is very important for ParaSwap.
The number of swaps per user in the 3 networks,Ethereum, Optimism and Polygon is very close to 4.2, 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.
The most active Paraswap users operate in the BSC network, where Paraswap users perform an average of 5.4 swaps in this network, which are considered very active. In the Avalanche network, users are relatively active and perform 4 swaps on average, which is a good number compared to other networks.
Popular Pairs
The most popular paraswap pair on the Ethereum network is DAI->USDT, users made a total of 834 swaps with this pair, which made it the most popular pair by a large margin. In the Arbitrum network, the most popular pair among users is ETH->USDC, which users made a total of 6458 swaps with this pair. On the other layer 2 of Ethereum, namely Optimism, the most popular pair is ETH->USDC among paraswap users, users made a total of 2550 swaps with this pair. In the network that has the largest number of swaps and users, that is Polygon, the most popular pair is MATIC->USDC, which is the conversion of the native token of the Polygan network to the popular USDC stable coin, and users made a total of 63147 swaps with this pair, which is the largest number Swap compared to other networks. In BSC, which has the most active users, the most popular pair is MIR->USTC, users made a total of 129 swaps with this pair, which made this peer the most popular among Paraswap users on the BSC network. In the popular Avalanche network, the most popular pair among paraswap users is GENERAL->USDC.E, the users of this platform have made a total of 953 swaps with this pair, which has made this pair very popular among the users of this platform.
Top 10 Swap From Assets
The most popular asset that users swap to other assets on Paraswap and on the Ethereum network is USDC, which is one of the most popular stablecoins in the market, and it is natural that it is the most popular asset for swaps and users on the Ethereum network 16,000 swaps were done with this stable coin, which number of swaps was done by 4,000 users. In Arbitrum, the most popular asset that users use to swap to other assets is USDC, and a total of 3,364 Paraswap users made 6,469 swaps with this stablecoin.
In the Optimism and Polygon networks, the most popular asset for swapping with other assets in Paraswap is USDC, so that in the Polygon network, 33,000 users made 107,000 swaps with this very popular stablecoin, and this shows that USDC is very popular among Paraswap users. It seems that in the BSC network, the situation is slightly different from the previous 4 networks, because in this network the most popular asset for swapping with other assets is RVF, with a total of 138 users doing 400 swaps with this token. In the Avalanche network, the most popular asset for swapping with other assets is the popular USDC stablecoin, in which a total of 2,373 users made 8,750 swaps with this stablecoin.
Top 10 Swap To Assets
In the 5 networks Ethereum, Arbitrum, Optimism, Polygn and Avalanche, the most popular asset that users swap their assets to in Paraswap is USDC, so that in the Polygon network, 28,000 users swapped 88,000 to USDC. It shows that this stablecoin is very popular among Paraswap users on all networks.
The BSC network is a little different from other networks, and in this network, the most popular asset that Paraswap users swap their assets to is RVF, and a total of 84 users made 257 swaps to this token.
Amount Fee Spent per Network
The Ethereum network is always a busy network due to its great popularity, and for this reason, the number of transactions in this network is very high, and for this reason, the fees received in this network are very high, and for this reason, users who cannot pay the high volume of fees pay, they have to migrate to other networks.
Over time, we can see that nearly 90**%** of the fees received from Paraswap users were for the Ethereum network, but in the last week of October, because the number of Polygon swaps increased very suddenly, as a result, more than 10% of the fees were paid this week. has been done by users for this network, and after that, the amount of Polygon network fees decreased, and again, the Ethereum network received nearly 90% of the Paraswap fees.
In total, Paraswap users paid $545,000 for fee to operate on the Ethereum network, which is 90% of the total fee paid by users, followed by the highest fee paid for the Polygan network, where users in this network pay $25,600 for fee. paid, which is 4% of the total fees paid, and among them, one of the cheapest networks is the Avalanche network, where users paid a total of only 10,000 dollars in fees, which is 1.7% of the total fees paid by users. This shows that this network is very cheap and this cheapness is one of the reasons for the popularity of this network.