Introduction

One way to generate passive income while holding cryptocurrencies is staking. Cryptocurrency holders can stake their assets and through validators contribute to proof of transactions and get rewards. This can be possible only in blockchains that are based on 'proof of stake'. However, major blockchains such as Bitcoin and Ethereum are based on a 'proof of work' system meaning that they do not offer rewards through staking. Above all, proof of work protocol is energy-intensive and generates carbon dioxide emissions.

Algorand through Algomint provides an opportunity for BTC holders to put their tokens to work in DeFi ecosystems in where there are no environmental concerns. Moreover, this bridges Algorand technology to other chains natively.

Recently, on April 30th, Algomint launched its own governance token gomint. This dashboard investigates the performance of the goMint release between the 3 DEXs; Tinyman, AlgoFi and Pact.fi.

Analysis

The graph below shows the volume of ALGOs swapped for goMint by day on each DEX since the token release.

We can see that the popularity of gomint is declining.

We can also see from the graph afterwards that except the first day, tinyman is dominant in all days.

The graph below shows the number of swaps and the number of wallets by day by DEX for goMINT/algo swaps in the first week of the token release.

The graph below shows the average swap price in ALGOs for goMint across each DEX(AlgoFi Tinyman Pact) in the first 24 hours of the token release.

We can see a higher average price for goMint on algofi.

Let's focus on the first week and ALGO --> goMINT.

We can see that the amount of ALGO/goMint swap, the number swap and unique swappers in total on Tnyman are more than the other dexes.

We can see a sharp decline after the first two days in the daily amount and number of swaps, as well as the number of unique swappers.

Notable findings

• Tinyman was the most popular DEX for swapping ALGO-->goMINT.

• Tinyman also offered the best price for goMINT in the first day after goMINT launch.

• The surge of popularity of goMINT has declined after the second day of launch.