What is Flow?

Flow is a blockchain platform that was originally designed for gaming purposes, but has grown horizontally since its launch. The flow blockchain enables fast, low cost transactions and enables smartcontracts. It’s the blockchain for NFT projects such as NBA Top Shot, NFL AllDay, UFC_NFT, CricketMoments and OlympicPin. Flow’s native token is called FLOW. The Flow blockchain. That said, FLOW is growing as a blockchain and supports more than just NFTs. They allow for multiple token pairs to be swapped on their DEXs, as they look to compete with Algorand, Ethereum, and their layer 2 chains.

Methodology

This dashboard will cover various metrics regarding the token activity on the FLOW blockchain, by exchange and by tokens being swapped. These metrics will be measured by week since the beginning of June. Because decentralization is such a key part of Defi (decentralized finance), I will include staking data at the bottom of the dashboard. Staking information will only be present going back to October, so we can see if the FTX collapse had any impact on staking activity, as staking is typically a strong indicator of general network trust by the community.

The following metrics will be measured by week since June:

• Swap pair frequency
• Swap pair by transaction count
• Swap pair by average amount
• Swap pair by median amount
• Max swap amount

The following metrics will be measured over time:

• Stake/unstake transaction count

• Stake/unstake amount

• Average stake/unstake amount

• Median stake/unstake amount

• Maximum stake/unstake amount

• Distinct delegator count

• Cumulative stake/unstake transaction count

• Cumulative stake/unstake amount

• Cumulative unique delegator count

  \

The following metrics will be measured over the 30 day period:

• Stake/unstake transaction count
• Stake/unstake amount
• Average stake/unstake amount
• Median stake/unstake amount
• Distinct delegator count

Swap Pairs Over Time

• There are two swap pairs that dominate the decentralized exchange landscape
  • Those 2 being FUSD-USDT and FLOW swap pair
  • ==Given that stable swap pair is so popular, it is likely that users are seeking arbitrage opportunities on a relatively new network==
• Combined, these 2 swap pairs make up over 95% of the volume on dexs on FLOW
• The swap count per week since June has been in an absolute free fall
  • ==However, it comes with new opportunities for the Starly-USDT swap pair, which picked up some of the slack the other pairs left of the table==
  • In the last week, it accounted for roughly half of the swap volume on the network

Swap Pairs Over Time

• The mean swap pair amount was consistently larger than the median transaction size, showing a large skew in the data
  • ==When this happens, it is because a small number of users are making massive transactions, in terms of size, compared to the “typical” users==
  • ==In a case like this, the median is actually a better indication of the typical user than the mean is==
• As seen in the graph directly above, the max swap amount is typically the largest in the bltUSDT swap pair
• Again, this shows that a majority of the network activity revolves around stable activity- which is typical now for blockchain activity
• ==When bltUSD-USDT activity isnt the most common swap, fusd is- which is another stable swap pair==

Stake metrics

• The overall stake amounts are strong- but in the scheme of things minuscule for a blockchain trying to prove itself
• ==One of the best indicators for a network’s success is its decentralized nature- which is of course the basis for Defi itself==
• If the 1 user who has pledged an overwhelming majority of funds to the network decides to pull out, the entire blockchain will be in serious trouble
  • The good news there is, that there is a waiting period between when a user decides to undelegate from the network and when they actually are able to withdraw their funds
  • ==Using Flipside data, we will be able to see this in advance and act accordingly==
  • Unfortunately, that may not be the case for all users on the blockchain :(

Summary of Key Takeaways

• There are two swap pairs that dominate the decentralized exchange landscape
  • Those 2 being FUSD-USDT and FLOW swap pair
  • ==Given that stable swap pair is so popular, it is likely that users are seeking arbitrage opportunities on a relatively new network==
• Combined, these 2 swap pairs make up over 95% of the volume on dexs on FLOW
• The swap count per week since June has been in an absolute free fall
  • ==However, it comes with new opportunities for the Starly-USDT swap pair, which picked up some of the slack the other pairs left of the table==
  • In the last week, it accounted for roughly half of the swap volume on the network
• The mean swap pair amount was consistently larger than the median transaction size, showing a large skew in the data
  • ==When this happens, it is because a small number of users are making massive transactions, in terms of size, compared to the “typical” users==
  • ==In a case like this, the median is actually a better indication of the typical user than the mean is==
• As seen in the graph directly above, the max swap amount is typically the largest in the bltUSDT swap pair
• Again, this shows that a majority of the network activity revolves around stable activity- which is typical now for blockchain activity
• ==When bltUSD-USDT activity isnt the most common swap, fusd is- which is another stable swap pair==
• The good news for FLOW believers, is that is looks like they come in a bunch
• The overwhelming stake/unstake activity on the network shows that a majority of the action is “staking”
• This is a good sign of the public’s faith in the longevity of the network
  • Additionally, this activity appears to sprout from just a few different days in the last 6 weeks
  • This is an interesting pattern, and definitely something to keep an eye on moving forward
• ==Again, the average stake amount is significantly larger than the median, showing a massive skew in the staking data as well==
• The amount staked per day is wildly volatile, yet manages to be predictable
  • Every 6-8 days, another mass quantity of FLOW is staked
  • This is certainly a trend worth keeping an eye on as time progresses- and even a potential investment opportunity
• The visuals showing cumulative trends also follow a similar pattern to the staking data
• The cumulative graphs are a good indication of the public’s faith in the network, as the cumulative graphs are increasing in volume/quantity at an increasing rate
• ==However, they are nearly entirely reliant on the weekly stake by an anonymous user- if this user decides to pull out all at once, it could be trouble for the ecosystem==
• The amount staked per day is wildly volatile, yet manages to be predictable
  • Every 6-8 days, another mass quantity of FLOW is staked
  • This is certainly a trend worth keeping an eye on as time progresses- and even a potential investment opportunity
• The visuals showing cumulative trends also follow a similar pattern to the staking data
• The cumulative graphs are a good indication of the public’s faith in the network, as the cumulative graphs are increasing in volume/quantity at an increasing rate
• ==However, they are nearly entirely reliant on the weekly stake by an anonymous user- if this user decides to pull out all at once, it could be trouble for the ecosystem==
• The overall stake amounts are strong- but in the scheme of things minuscule for a blockchain trying to prove itself
• ==One of the best indicators for a network’s success is its decentralized nature- which is of course the basis for Defi itself==
• If the 1 user who has pledged an overwhelming majority of funds to the network decides to pull out, the entire blockchain will be in serious trouble
  • The good news there is, that there is a waiting period between when a user decides to undelegate from the network and when they actually are able to withdraw their funds
  • ==Using Flipside data, we will be able to see this in advance and act accordingly==
  • Unfortunately, that may not be the case for all users on the blockchain :(

Swap Pairs Over Time

• The good news for FLOW believers, is that is looks like they come in a bunch
• The overwhelming stake/unstake activity on the network shows that a majority of the action is “staking”
• This is a good sign of the public’s faith in the longevity of the network
  • Additionally, this activity appears to sprout from just a few different days in the last 6 weeks
  • This is an interesting pattern, and definitely something to keep an eye on moving forward
• ==Again, the average stake amount is significantly larger than the median, showing a massive skew in the staking data as well==

Stake counts/amounts, and cumulative information

• The amount staked per day is wildly volatile, yet manages to be predictable
  • Every 6-8 days, another mass quantity of FLOW is staked
  • This is certainly a trend worth keeping an eye on as time progresses- and even a potential investment opportunity
• The visuals showing cumulative trends also follow a similar pattern to the staking data
• The cumulative graphs are a good indication of the public’s faith in the network, as the cumulative graphs are increasing in volume/quantity at an increasing rate
• ==However, they are nearly entirely reliant on the weekly stake by an anonymous user- if this user decides to pull out all at once, it could be trouble for the ecosystem==