📖introduction

What is Avalanche?

Avalanche is an open-source platform for launching decentralized applications and enterprise blockchain deployments in one interoperable, highly scalable ecosystem. Avalanche is the first decentralized smart contracts platform built for the scale of global finance, with near-instant transaction finality. Ethereum developers can quickly build on Avalanche as Solidity works out-of-the-box.

A key difference between Avalanche and other decentralized networks is the consensus protocol. Over time, people have come to a false understanding that blockchains have to be slow and not scalable. The Avalanche protocol employs a novel approach to consensus to achieve its strong safety guarantees, quick finality, and high-throughput without compromising decentralization.

🗺️Methodology

In the table avalanche.core.fact_event_logs

the following event names have been returned for the transactions that their contract address was 0xB97EF9Ef8734C71904D8002F8b6Bc66Dd9c48a6E

To do a review, among these events I have only considered the transactions related to the transfer, burn and mint events.

In order to obtain the data of swap transactions, I first obtain the data related to swapping from this event table and consider the transfer transactions that are related to USDC and have the same transaction address as swap transactions.

EVENT_NAME:

1. MinterConfigured
2. MasterMinterChanged
3. AuthorizationUsed
4. OwnershipTransferred
5. Approval
6. Transfer
7. Burn
8. Blacklisted
9. Upgraded
10. Mint
11. AdminChanged
12. UnBlacklisted
13. MinterRemoved
14. Empty

The data reviewed in this dashboard is related to the transactions made from 2022-07-01 onwards.

1️⃣Transfer & Swaps Total Data

In this section, I review the data of swap and transfer transactions in general.

📈Conclusion

In this dashboard, I examined the swap, transfer, burn and mint transactions on the Avalanche network. As asked in the question I had to compare swap vs transfer and mint vs burn transactions. I compared the number of transaction, the volume of USDC, total USDC, average USDC, median USDC and the number of unique users between these pairs and here is the conclusion of my review:

• The average amount of USDC transferred was 39.7k (94.2% of the volume) and was so much higher than the average amount of USDC swapped which was 2.4k (5.8% of the volume).
• The number of unique swapper addresses for USDC was 214528 which was slightly higher than the number of transfer addresses for USDC that was 187645.
• The total USDC burned was 4B (45.2% of the volume ) and the total USDC minted was 4.8B (54.8% of the volume).
• The number of unique wallets minting is 2 and burning USDC is 3.
• The average USDC burned was 338.5k (21.6% of the volume) and the average USDC minted was 1.2M (78.4% of the volume).

📞Contact

My Discord: hemin#1891

My Twitter: @hemin48716355

Tweet Link:

❓Question

Examine Avalanche USDC(0xB97EF9Ef8734C71904D8002F8b6Bc66Dd9c48a6E- https://snowtrace.io/token/0xb97ef9ef8734c71904d8002f8b6bc66dd9c48a6e) swaps vs transfers and mints vs burns using the new fact_event_logs data and avalanche.core.fact_traces data.

Let’s look at the volume of USDC swaps vs transfers by the hour since 7/1.

• What is the average amount of USDC transferred vs swapped?
• Show the number of unique swapper addresses vs transfer addresses by day for USDC \n

Next, let’s look at mints and burns of pairs involving

• Let’s look at the volume of USDC mints and burns by the hour since 7/1
• How many unique wallets are minting and burning USDC by day
• What is the average mint vs burn for USDC by day
• Note anything else interesting about USDC transactions

🧐Observations

According to the charts obtained for the swap and transfer transactions made for the USDC from July onwards:

1. The number of transactions performed for swap transactions is more than transfer transactions.
2. However, the volume of USDC moved in transfer transactions is much higher than that of swaps.
3. The average USDC swapped was 2.4k (5.8% of the volume) and the average USDC transferred was 39.7k (94.2% of the volume).
4. The total USDC swapped was 10.5B (9.8% of the volume) and the total USDC transferred was 96.5B (90.2% of the volume).
5. The median USDC swapped was 209.8 (54% of the volume) and the median USDC transferred was 179 (46% of the volume)
6. The number of unique users for swap transactions is 214528 and the number of unique users for transfer transactions is 187645.

2️⃣Transfer & Swaps Daily Data

In this section, I have reviewed swap and transfer transactions on a daily basis.

🧐Observations

Based on the charts:

1. The total USDC volume for swap transactions did not have a noticeable change and never crossed 0.5B but the total USDC volume for transfer transactions was above 0.5B for so many days and there were some significant days that the chart had a sharp rise.
2. In all the time period that was considered for the chart, the average USDC of transfer transactions was higher than the average USDC for swap transactions.
3. Almost every day the number of swaps was higher than the number of transfers. It is obvious that some days both transaction increased significantly.
4. Except for the first days and some other days throughout the time period, the number of swaps was higher and had the highest share between the two transaction.
5. The number of distinct swaps was more than the number of distinct transfers every month.
6. However, the total USDC for transfer transactions was higher than the total USDC for swap transactions every month.

3️⃣Burn & Mint Total Data

In this section, I have reviewed burn and mint transaction in general.

4️⃣ Burn & Mint Daily Data

In this section, I have reviewed burn and mint transactions on a daily basis.

🧐Observations

Based on the charts:

1. The total USDC volume for mint transactions never crossed 200M but had more rises than burn transactions . The total USDC volume for burn transactions crossed 100M three times with a sharp rise to the chart.
2. Most of the time period that was considered for the chart, the average USDC of mint transactions was higher than the average USDC for burn transactions.
3. Almost every day the number of burns was higher than the number of mints. It is obvious that some days burn transaction increased significantly.
4. Except for some days throughout the time period, the number of burns was higher and had the highest share between the two transaction.

🧐Observations

According to the charts obtained for the Burn and Mint transactions made for the USDC from July onwards:

1.The number of transactions performed for burn transactions is more than mint transactions.

2. However, the volume of USDC moved in mint transactions is much higher than that of burn transactions.
3. The average USDC burned was 338.5k (21.6% of the volume) and the average USDC minted was 1.2M (78.4% of the volume).
4. The total USDC burned was 4B (45.2% of the volume) and the total USDC minted was 4.8B (54.8% of the volume).
5. The median USDC burned was 1022 (0.8% of the volume) and the median USDC minted was 122.8k (99.2% of the volume)
6. The number of unique users for mint is 3 and the unique users for burn transactions is 2.