Description of work

In this work, we want to analyze the application calls related to Folks Finance, AlgoFi, Tinyman, and AlgoDex from different perspectives, including:

1. Percent of transactions that Folks Finance, AlgoFi, Tinyman, and AlgoDex app calls make up on the Algorand blockchain.

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2. Percent of associated transactions(transactions in the same tx_group_id) that Folks Finance, AlgoFi, Tinyman, and AlgoDex app calls make up on the Algorand blockchain.

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3. How have the number of transactions changed over time for each protocol? has the price of ALGO been an influence on the number of transactions produced by each protocol?

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4. How much fees have been spent on transactions relating to each protocol?

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5. What type of transactions are each protocol producing?

First of all, let's review some terms.

• Folks Finance

  Folks Finance is a capital markets protocol for lending and borrowing built and operated on top of the Algorand blockchain.

  source: algorand.com

• Algodex

  Algodex is a peer-to-peer marketplace that allows users to trade user-made tokens on the Algorand blockchain called Algorand Standard Assets (ASA).

  source: dappradar.com

• AlgoFi

  Algofi is a fast, low-cost crypto lending market on the Algorand blockchain that makes decentralized lending broadly accessible.

  source: algorand.com

• Tinyman

  Tinyman is a decentralized trading system that uses the Algorand blockchain’s fast and secure infrastructure. It creates an open and secure marketplace for traders, liquidity providers, and developers.

  source: altcoinbuzz.io

• Associated transactions(TX_GROUP_ID)

  Transaction group ID, can be NULL. Exists when a group of transactions are tied together for things like a dex swap.

  source: docs.flipsidecrypto.com

Methodology

• We use the following command to calculate the number of app call transactions related to each protocol.

  • SELECT COUNT(DISTINCT(TX_ID) ) FROM flipside_prod_db.algorand.application_call_transaction WHERE app_id IN (app_id related to each protocol)

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• We use the following command to calculate the number of app call associated transactions related to each protocol.

  • SELECT COUNT(DISTINCT(TX_GROUP_ID) ) FROM flipside_prod_db.algorand.application_call_transaction WHERE app_id IN (app_id related to each protocol)

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• We extract the daily price of Algo from the [algorand.prices_swap] table with the following command.

  • SELECT BLOCK_HOUR::DATE AS DAYS, AVG(PRICE_USD) "Algo Price" FROM algorand.prices_swap WHERE ASSET_ID = 0 GROUP BY DAYS

• To find the types of transactions produced by each protocol, first, we extract app call transactions related to each protocol from algorand.application_call_transaction table, and then we Join results with algorand.transactions table to find the type of transactions that each protocol produces

app_id related to each protocol

• Folks Finance

  • 776179559,776176449,752770929,751285119,747239433,747237154,743685742,743679535,696044550,694464549, 694405065,686876641,686875498,686862190,686860954,686501760,686500844,686500029,686498781

• Algofi

  • 705663269,705657303,674527132,661247364,661207804,661204747,661199805,661193019,661192413,659678644,659677335,658337046,658336870,647785804,647785158,641500474,641499935,639747739,639747119,611869320,553866305,482625868, 465814222,465814065,674526408,637795072,637793356,635866213,635864509,635863793,635860537,635813909,635812850, 611867642,611804624,611801333,605753404,553869413,482608867,465818260,465814318,465814278,465814149,465814103

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• Algodex

  • 354073718, 354073834

• Tinyman

  • (649588853, 350338509, 552635992)

1 - Percent of transactions that Folks Finance, AlgoFi, Tinyman, and AlgoDex app calls make up on the Algorand blockchain.

According to the results:

• The total number of app call transactions on the Algorand blockchain is 54.1 million app call transactions.

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• 51.3% of the app call transactions are related to other applications on Algorand Blockchain. (27.759 million app calls)

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• The highest number of app call transactions is related to tinyman, with 14.841 million app calls, which constitutes 27.4% of the total number of app calls on the Algorand blockchain.

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• After tinyman, the highest number of app call transactions is related to Algofi with 11.328 million app calls, which constitutes 20.9 of the total number of app calls on the Algorand blockchain.

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• Algodex and Folks Finance are ranked third and fourth in the highest number of app call transactions with166.527K (0.3% of the total number of app calls ) and 42.571K (0.07% of the total number of app calls ), respectively.

2 - Percent of associated transactions(transactions in the same tx_group_id) that Folks Finance, AlgoFi, Tinyman, and AlgoDex app calls make up on the Algorand blockchain

According to the results:

• The total number of app call associated transactions on the Algorand blockchain is 23.3 million.

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• 62.4% of the app call associated transactions are related to other applications on Algorand Blockchain. (14.59 million app call associated transactions)

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• The highest number of app call associated transactions is related to tinyman, with 14.59 million, constituting 32.8% of the total number of app call associated transactions on the Algorand blockchain.

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• After tinyman, the highest number of app call transactions is related to Algofi with 947.08K app call associated transactions, which constitutes 4.05% of the total number of app call associated transactions on the Algorand blockchain.

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• Algodex and Folks Finance are ranked third and fourth in the highest number of app call associated transactions with166.246K (0.71% of the total number of app call associated transactions) and 29.588K(0.12% of the total number of app call associated transactions) respectively.

3 - How have number of transactions changed over time for each protocol? has the price of ALGO been an influence on the number of transactions

According to the results:

• The highest number of Algofi app call transactions is on May 11 (211,119 app calls), May 12 (167,604 app calls), and March 31, 2022 (149,679 app calls), respectively.

• The highest number of Algodex app call transactions is on Feb 11 (7009 app calls), Feb10 (5332app calls), and Jul14 2022 (4489 app calls), respectively.

• The highest number of Tinyman app call transactions is on Jan 2 (216416 app calls), Jan 20 (181868 app calls), and Jan19, 2022 (180906 app calls), respectively.

• The highest number of Folks Finance app call transactions is on May 19 (1496 app calls), Apr 25 (1364 app calls), and May 27, 2022 (1353 app calls), respectively.

• In general, when the price of Algo drops sharply, it increases the number of app call transactions on these protocols.

• In general, the price reduction of Algo has reduced the number of app call transactions on these protocols. (This is not the case for Folks Finance, but we must also consider that the number of app call transactions is tiny)

4 - How much fees have been spent on transactions relating to each protocol?

According to the results:

• There is a high correlation between the number of transactions in each protocol and the amount of fees spent.

• 52.1% of the total fees spent in application calls on the Algorand blockchain are related to other applications on Algorand Blockchain. (32.561K Algo as fees)

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• The highest fee amount is related to tinyman with 14.885K Algo, which constitutes 23.8% of the total fees in application calls on the Algorand blockchain.

• After tinyman, the highest amount of fees is related to Algofi with 14.801K Algo, which constitutes 23.7% of the total fees in application calls on the Algorand blockchain.

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• Algodex and Folks Finance are ranked third and fourth with 123.898 Algo(0.26% of the total fees in application calls on the Algorand blockchain) and 167.85 Algo(0.19% of the total amount of fees in application calls on the Algorand blockchain) respectively.

What type of transactions are each protocol producing?

According to the results:

• All generated transactions of ‍‍app_id related to Tinyman and Algodex are application call type.

• 94.5% (11.344 million transactions) of transactions generated by Algofi app_id are of application call type and 3.44% of transactions (412.96K transactions) are of asset transfer type and 2.6% of transactions are (246.96K transactions) are of payment type

• 57.7% (42.912K transactions) of transactions generated by Folks Finance app_id are of application call type and 30% of transactions (22.472K transactions) are of asset transfer type and 12.1% of transactions are (9022K transactions) are of payment type

Conclusion

• The total number of app call transactions on the Algorand blockchain is 54.1 million app call transactions.

  • Among the four examined protocols, the highest number of app call transactions is related to Tinyman(14.841M), Algofi(11.328), Algodex(166.527K), and FolksFinance(42.571K), respectively.

• The total number of app call associated transactions on the Algorand blockchain is 23.3 million.

  • Among the four examined protocols, the highest number of app call associated transactions is related to Tinyman(14.59M), Algofi(947.08K), Agodex(166.246K), and FolksFinance(29.588K), respectively.

• There is a high correlation between the number of transactions in each protocol and the amount of fees spent.

• In general, when the price of Algo drops sharply, it increases the number of app call transactions on these protocols.

• In general, the price reduction of Algo has reduced the number of app call transactions on these protocols. (This is not the case for Folks Finance, but we must also consider that the number of app call transactions is tiny)

• All produced transactions of ‍‍app_id related to Tinyman and Algodex are application call type, But in Folks Finance and Algofi, other types of transactions such as asset transfer and payment are produced.