Transactions by Protocol

    Q115. Using the following App ID lists from Folks Finance, AlgoFi, Tinyman, and AlgoDex, lets look at what percent of transactions their app calls and associated transactions(transactions in the same tx_group_id) make up on the Algorand blockchain.

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    What is Algofi ?

    Algofi is a fast, low-cost crypto lending market on the Algorand blockchain that makes decentralized lending broadly accessible. Algofi aims to be the first crypto-native bank that bridges the gap between traditional and decentralized finance. Algofi's simple fiat on-ramp allows users to buy crypto and earn interest without a bank or centralized custodian. In addition, traders can use Algofi to go short or to trade with leverage. In the future, Algofi will offer more traditional banking services like savings accounts and credit cards, all powered by the growing DeFi ecosystem on Algorand. [1]

    How Algofi is using Algorand ?

    By leveraging the Algorand protocol and its Pure Proof-of-Stake (PPoS) consensus mechanism, Algofi is able to facilitate sub-cent transactions that settle in seconds--a key component of Algofi’s user-friendly, mass-accessible platform. This foundation will also enable Algofi to continue scaling its platform in terms of number of transactions as well as the introduction of new financial services in the future. In addition, Algofi chose to build on Algorand due to its very strong native community and the ready availability of robust developer tools, which enable the fast and simple creation of the smart contracts that power Algofi.[1]

    Current Assets available to Provide and Borrow

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    goBTC

    goBTC seems to borrowed very less given the volatile nature of the asset.

    Most of the wallets are providing goBTC.

    Average Liquidity

    On an average each liquidity type is < 4 goBTC

    Cumulative Liquidity

    Most of the goBTC used in Algofi is used to provide as collateral.

    The goBTC amount borrowed is very less as compared to borrowed.

    Cumulative # of wallets

    Most of the wallets are providing goBTC as collateral.

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    What Is Tinyman?

    Tinyman is a redesigned decentralized trading system that leverages the Algorand blockchain's quick and secure infrastructure to provide an open and secure market for traders, liquidity providers, and developers. Tinyman, founded by a team with extensive finance expertise, is on a mission to unleash the full potential of DeFi, or decentralized financial instruments that are inclusive, accessible, and lucrative for consumers worldwide. Users may trade any Algorand Standard Asset (or Algo) through liquidity pools utilizing an Automated Market Maker (AMM) algorithm employing the community-focused, affordable, quick, and totally permissionless Tinyman protocol.

    Analysis I:

    We now have a working knowledge of Tinyman and Tinyman 1.1. The first part is dedicated to tracking the daily occurrences of mint and burn activities on Tinyman from January 2022.

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    The result, TinymanPool1.1 YLDY-ALGO is the most traded LP pool for burn actions TinymanPool1.1 STBL-USDC is ranked second.

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    Algodex is a highly decentralized marketplace with the orderbook completely on the Algorand blockchain itself. Website

    • All orderbook limit orders exist in the orderbook as an 'escrow' account holding the users funds until a matching trade is found or the user cancels the order.
    • All new orders are executed against the existing limit orders. If a new order is NOT fully filled, it enters the orderbook as a limit escrow order.
    • Once the order is filled/cancelled the appropriate funds are transferred back to the User.
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    Conclusion : Algo price has a direct effect on the number of transactions in all types of Algorand protocols