Questions

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Q111. ThorSwap just recently partnered with Sushiswap to create an Onsen farm for ETH-THOR LP providers to stake their liquidity to earn extra rewards. Previously ThorSwap offered their own contract for the same purpose but this switch allows for higher rewards as well as lower slippage for the users.

Show how users reacted to this change:

• How many funds has been moved from the old contract to the new one? How much is still left in the old one?
• How many unique wallets did already move their liquidity over? How many still have to switch? "

Approach

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• Find contract addresses of both contracts
• Get deposit and withdraw amount of users in both contracts
• Analyze data to answer the questions as will be presented

How much is still left in the old contract?

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From the right graph, we plot historical TVL of the old contract. Starting at around 10k ETH-THOR LP on beginning of December. After that the TVL has dropped from time to time. And the TVL that is still left in the contract is 584 ETH-THOR LP, with the last update on Jul 29, 2022.

How many unique wallets did already move their liquidity over?

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From the right donut graph, there are 120 users interacting with the old contract. And 90 of them already moved (almost) all of there asset over, 30 of them did not.

Why 30 of them did not? What is their behavior?

On the below bar graph, we plot total value that each address has ever deposited to the old contract. We can see that users that has moved over deposited much more value (max 5k ETH-THOR LP) than users that did not moved yet (max 80 ETH-THOR LP).

How many funds has been moved from the old contract to the new one?

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From the right donut graph, users interacting with old and new contracts is 147.

119 of them interact only with the old contract, 27 of them interact only with the new one.

Interestingly, only 1 user interacts with both old and new contracts.

Detail of that 1 user is in the below table. The address is 0xbe61359a90eea3be6b8169ac2a098b0945e1d556. He deposited in the old contract for 25.48 LP, then he withdrew for 12.70 LP, and deposited to the new contract for 12.78 LP.

Conclusions

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How many funds has been moved from the old contract to the new one? How much is still left in the old one?

• 12.70 ETH-THOR LP was moved from the old contract to the new one. By only one user, 0xbe61359a90eea3be6b8169ac2a098b0945e1d556.

• 584 ETH-THOR LP is still left in the old contract

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How many unique wallets did already move their liquidity over? How many still have to switch? "

• 90 wallets already moved their assets over, another 30 wallets did not.

A little more

• From the below graphs, it seems like the new contract is more successful than the old one, judging from TVL value.
• However number of users (from above donut chart) of the new contract is 28, lower than that of the old one, 120.