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    Opening Positions

    Question:

    Q1. Over the last month, what volume of assets are Mean Finance (Polygon) users opening positions with (selling)? What assets are they dollar-cost averaging into (withdrawing swapped assets)? Note any large positions that don’t make sense on Ethereum due to transaction fees.

    What is Mean Finance?

    Dollar-cost averaging (DCA) is a strategy where an investor invests a total sum of money in small increments over time instead of all at once. The goal is to take advantage of market downturns without risking too much capital at any given time.

    The Mean Finance is a DCA tool. The interaction and application of Mean Finance have been shown in details as below graphic.

    The source of graph is Mean Finance.

    In this essay, the position creation and withdraw swapped assets needs to be studied for the past 30 days.

    Approach:

    The methodology of this essay has been introduced based on these steps:

    • Open position

       from polygon.core.fact_token_transfers x --Track the assets
 join flipside_prod_db.polygon.labels y on x.CONTRACT_ADDRESS=y.ADDRESS -- Label the assets
 where ORIGIN_TO_ADDRESS='0x059d306a25c4ce8d7437d25743a8b94520536bd5' and -- Mean Finance
 ORIGIN_FUNCTION_SIGNATURE='0x6b29e1bd' -- Related to Opening position

    • Withdraw swapped assets

       from polygon.core.fact_token_transfers x -- Track the withdrawal
 join flipside_prod_db.polygon.labels y on x.CONTRACT_ADDRESS=y.ADDRESS -- Label the tokens
 where FROM_ADDRESS='0x059d306a25c4ce8d7437d25743a8b94520536bd5' and -- Mean Finance
 ORIGIN_FUNCTION_SIGNATURE='0x17621890' -- Related to Withdrawing swapped assets

    • Evaluate the amount of each asset

       Sum(amount/1eDecimal)
 For USDC and USDT -- Decimal is 6
 For other assets -- Decimal is 18

    • Time period

       BLOCK_TIMESTAMP>=CURRENT_DATE-30 -- stands for the past 20 days

    Results:

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    The graphs related to the opening position on MeanFinance displayed in the bar and pie graphs. The Key findings of this analysis are:

    • USDC is the most used asset (Token) for position opening in the past 30 days.
    • The number of position opening is 1321 for USDC.
    • The volume of USDC is over 63k.
    • The share of participants based on assets revealed the 95% of participants in position opening use USDC token.
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    The graphics related to the withdrawing swapped assets from MeanFinance presented in the bar and pie figure. The key findings related to the withdrawing swapped assets are:

    • The highest count and volume of withdrawal occurred for ETH token.
    • The withdrawing swapped assets for ETH occurred for 52 times over the past 30 days.
    • About 7.72 ETH have withdrawn as swapped assets from MeanFinance and by considering the average price of ETH over the past 30 days, the volume of ETH withdrawal is more than 10k USD.
    • The biggest share of participants on withdrawing swapped assets use ETH by 59% of users.

    The position opening on MeanFinance over the past 30 days and in the daily basis represented in this bar.

    The positions are clarified based on the assets and their volume.

    According to this graph, the biggest positions opened on June 11 for 10.98k USDC and June 25 for 10.8k USDT.

    The largest positions opened for stable coins on MeanFinance.

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