Lets see hoy many high frequency swapper bots there is on Velodrome

A lot.

Task

• Explore something worth sharing

Method

Using Flipside’s Data tables and accounting for those users who swapped high volumes in high amount of swaps, I came with a categorization for Human users and BOTS.

• optimism.velodrome.ez_swaps table was used for all the analysis, from the days traded and categorizing users who participated in more than 30 trades in a specific hour.

Quick overview

Since the beginning of times, or specifically, the beginning of Flipside’s Optimism table records. (Lite mode :seedling:) there has been 1.4 million swaps made on Velodrome

Accruing an USD volume of 1.4 billion being swapped! That’s a huge amount. But, of all that volume 1.1 billion, would correspond to the volume being swaped by only 129 traders. Those traders have been filtered by their amount of transactions surpassing 30 swaps in an hour. It only sounds low, but it quickly jumps to hundreds of swaps

A normal swap overview would look like this

With an increasing in swaps volume, these past two months have been pretty active.

But this activity is not entirely made by regular users. At least not executed by.

An increasing amount of swaps have been made by a list of 129 users.

In fact, its participation has remained above the activity from users who didn’t qualify as BOTS.

And, is all done by a tiny amount of traders

For example, half of all that traffic during July 28 - 29, were the swaps of around 20 bots.

vs more than 200 normal users

Preferred Tokens by Bots

And mostly of the volume being swapped correspond to USDC, OP, WETH, VELO and DAI.

Two stablecoins, One token owned by Velodrome, the central Gas token (wrapped) in Ethereum and the central token in the layer (Optimism).

It does seem that the whole main activity centers around the central and necessary tokens in the space. Plus those universally known as trusted Stablecoins.

And the top of these bots, have moved huge volumes of USD worth in tokens

The biggest bot in volume have traded 191 Millions in USD on 98k swaps these past months.

The biggest in swaps amount have swapped 218k times.

The top 10 bots in USD Volume in, are responsible for 673K of the 1.4 billion swapped around.

In short

More than half activity, and even more in USD volume, belongs to a small list of high frequency/volume traders.

And by the looks of it, and their huge amount of transactions, they don’t appear to be humans.

Which end up being another example of how a network with low transacting fees is an ideal playground for algorithmic tradings.