Introduction

This dashboard analyses the transactions interacting with the following protocols:

1. Folks Finance - a borrowing/lending market;
2. AlgoFi - a DEX, borrowing/lending market, and an algo stablecoin provider;
3. Tinyman - a DEX;
4. AlgoDex - a DEX.

Specifically, the dashboard investigates:

1. The percent of transactions the protocols’ app calls and associated transactions (transactions in the same tx_group_id) make up on the Algorand blockchain.
2. How have the number of transactions changed over time for each protocol?
3. How much in fees have been spent on transactions relating to each protocol?

Methodology

The number of transactions interacting with these protocols is the total of:

1. Transactions in the same tx_group_id
2. Standalone application call transactions i.e. transactions not in a transaction group

Steps:

1. Source the relevant tx_group_id and tx_id from the flipside_prod_db.algorand.application_call_transaction schema by filtering on a list of app_id provided in the bounty question.
2. Source the transactions (tx_id) associated with the tx_group_id from the flipside_prod_db.algorand.transactions schema.
3. Count all the tx_id (i.e. transactions in the same transaction groups and standalone application call transactions).
4. Sum the fee associated with all the transactions sourced above.

Due to the 900 seconds timeout error, the SQL queries have to be heavily-optimised. As a result, visualisation suffers; for example, I could not join the number of transactions NOT interacting with the protocols in the same query as the number of transactions interacting with the protocol.

2. Change in the number of transactions over time

Findings:

• Broadly, the number of transactions related to these four protocols have been on a downward trend with occasional spikes. This is somewhat correlated to the US$ price of ALGO which has also been on a downward trend.
• Transactions related to Tinyman dominated. In early January 2022, Tinyman suffered an exploit, hence transactions dropped to near zero.
• Transactions related to AlgoFi has been increasing over time, reducing the dominance of Tinyman.
• The number of transactions related to Folks Finance and AlgoDEX is relatively immaterial, representing less than 1% of transactions related to these four protocols.

1. Number of transactions as a % of total number of transactions

Findings:

• Transactions interacting with the four protocols started on 30 September 2021. Since then, there has been c. 66.2 million transactions interacting with the protocols. Data on this dashboard is until 12 July 2022.
• Since 30 September 2021, there has been c. 385 million transactions that are NOT associated with the protocols.
• Therefore, c. 14.7% (66.2 million divided by 451.2 million) of transactions interacted with the protocols.

Fees spent on transactions associated with the protocols

Findings:

• Transactions interacting with the four protocols started on 30 September 2021. Since then, c. 69.9K ALGO has been spent on transactions interacting with the protocols. Data on this dashboard is until 12 July 2022.
• Of these fees, 76.9% was for transactions related to Tinyman; 22.1% was for transactions related to AlgoFi.
• The number of transactions related to AlgoDEX and Folks Finance are immaterial; the transaction fees are immaterial as well, as expected.

Conclusion

• Transactions interacting with the four protocols started on 30 September 2021. Since then, there has been c. 66.2 million transactions interacting with the protocols, representing c. 14.7% of all transactions on Algorand.
• Broadly, the number of transactions related to these four protocols have been on a downward trend with occasional spikes. This is somewhat correlated to the US$ price of ALGO which has also been on a downward trend.
• Transactions related to Tinyman dominated. Transactions related to AlgoFi have been increasing, reducing the dominance of Tinyman.
• A total of c. 69.9K ALGO has been spent on transactions interacting with these protocols. Fees on transactions related to Tinyman dominated as expected.