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    What Are Users Swapping gALGO3 For?

    gALGO3 is an asset that is pegged to ALGO. Users can lock their ALGO up on Folks.finance for governance and while their ALGO is locked they receive gALGO3 and you can use it for other defi activities. Read more about it here: https://docs.folks.finance/protocol-architecture/algo-liquid-governance Let’s look what users are swapping their gALGO3 for while their ALGO is locked in governance.

    Introduction:

    The Folks finance offer a unique liquid Algorand governance opportunity which allows you to still utilize your ALGOs in in the form of gALGO3 a token you mint when you deposit your ALGOs into their governance pool. In this bounty the application of gALGO3 token in swap table is investigated.

    This fig demonstrates the daily number of swaps from gALGO3 and to gALGO3 token.

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    The volume of trades for gALGO3 and from gALGO3 are shown in this figure. As shown in this figure, the highest swap to gALGO3 is 144.55k and swap from gALGO3 is 176.29k.

    Two DEXs are used for trading gALGO3 token named Pactfi and Tinyman. The usage of both of them is shown in this figure.

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    The most used assets to swap from gALGO3 and from assets to gALGO3 are shown in the two donut. both of the figures are proved the dominance of ALGO token in swapping action.