Try Quests to earn cryptoAdditional Swaps Required to Offset Emissions
Method⚡
In this dashboard i analyzed swap metrics and block rewards of THORChain. I got help from Flipsiedcrypto data and used Thorchain database to gather the data that i needed.
I used these 2 tables from Thorchain database to do my magic:
==“flipside_prod_db.thorchain.swaps”== for Thorchain ==Swap== data and ==“flipside_prod_db.thorchain.block_rewards”== for Thorchain ==Block Rewards== data.
All the charts and analytics that you are going to see are since the beginning of the year ==(2022-01-01)==
Introduction🚩
What is Thorchain?
THORChain is a decentralised cross-chain liquidity protocol based on Tendermint & Cosmos-SDK and utilising Threshold Signature Schemes (TSS). It does not peg or wrap assets, it simply determines how to move them in response to user-actions.
THORChain observes incoming user deposits to vaults, executes business logic (swap, add/remove liquidity), and processes outbound transactions. THORChain is primarily a leaderless vault manager, ensuring that every stage of the process is byzantine-fault-tolerant.
THORChain's key objective is to be resistant to centralisation and capture whilst facilitating cross-chain liquidity. THORChain only secures the assets in its vaults, and has economic guarantees that those assets are safe.
What is RUNE?
RUNE provides the economic incentives required to secure the network and coordinate liquidity. RUNE has four key roles which are described below.
1.Liquidity (as a settlement asset)
2.Security (as a sybil-resistant mechanism, and a means for driving economic behaviour)
3.Governance (signalling priority on-chain)
4.Incentives (paying out rewards, charging fees, subsidising gas)
More Info
What is Thorchain Block Rewards?
Block Rewards are that portion of the reserve designated to pay out to Node Operators (NO) and Liquidity Pool (LP) depositors for their participation in and securing of the network. NO's receive two-thirds of the Block Rewards; LP's receive one-third.
More Info
Findings👀
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After Feb 26th, Swap Volume in USD started to increase consistently
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Thorchain swap Volume in USD peaked on April 6th with 137M
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as expected, Volume in USD is always more than volume in RUNE
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USD volume started to fall after its peak on April 6th and now in October 4th after 6 months ,it dropped almost 65%
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Swap volume in RUNE peaked on June 13th over time since the beginning of the year
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Fees in USD also increased after Feb 6th like Swap volume in USD that i mentioned earlier
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Thorchain users spent the most fee in swaps on April 14th with a total of 294K fee in USD and 34K fee in RUNE
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Daily Emissions in USD started to rise after late February and recorded an all-time high on March 30th 2022 with 1.05M emission in USD
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Emissions in USD fell badly after its all-time high on March 30th, until today in October it dropped almost 90%
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Daily Emissions in RUNE didnt changed that much since the beginning of the year but Emissions in USD had so many fluctuations
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Findings👀
- Daily Block Rewards decreased slightly day by day since the beginning of the year
- Thorchain recorded a total of 10.44M block rewards since January
- Daily Rewards Earnings and Liquidity Fee had so many fluctuations in May and June
- Users earned the most rewards in Thorchain on June 13th and spent the most fee in that day too
- All the earning charts are looks the same and moved together over time
- There were a total of 12.92M earnings on Thorchain since January (Liquidity earnings+Bonding earnings)
- Users spent 2.48M in total for liquidity fees
Conclusion💡
- Thorchain recorded a total of almost ==10B Swap== volume and ==10M Fees== since the beginning of ==2022==
- Swap volume started to ==fall== after ==April 6th== and never recovered to that place after that
- Emissions in USD started to ==decrease== after ==May== and Fees in USD started to ==increase== after ==May== and recorded an all-time high on ==April 14th==
- There were a total of ==10.44M== block rewards, ==5.71M== total bonding earnings, ==7.21M== total liquidity earnings, and in overall ==12.92M== total earnings since ==January==
- ==June 13th== was a good and profitable day for Thorchain users
- Everytime when liquidity earnings peak, liquidity fees will peak too and it means that amount of fees is directly related to earnings