Introduction and methods

There are several stablecoins that are being used as USD dollar. In this case, we will compare one of them, DAI, with the most important ones like USDT, USDC and BUSD.

To carry out a good analysis, we will first analyze the DAI amount of transfers over time as well as the global distribution of them. Then, we will do the same for the DAI volume moved per each type of event.

Then, we will compare DAI activity with the rest of the stablecoins. In the following charts, we will compute:

• The total volume of these stablecoins over time and the cummulative volume
• The total volume and the cummulative volume by stablecoin
• The total volume of each stablecoin
• The total distribution of each stablecoin in terms of volume

Results

In terms of number of transactions, it is clear that the activity on DAI increased during 2020. However, since 2021 the activity in terms o number of actions have been decreasing. In general, the most important type of transfers using DAI have been the transfers in DEX with more than 40% of the total distribution of transfers, followed by the CEX transfers and Dapp transfers with 20% each.

In terms of volume, we can see a big increaseduring January 2022. However, the amount dumped again after some days and now its similar to the previous days. In this case, the most of the volume was moved from DeFi platforms or DEXes, with 39% and 27% of the total transfers respectively.

In terms of stablecoin transfers, it can be seen how there are three top tokens: USDT, USDC and DAI. Yes, DAI is one of the top stablecoins being trasnferred. However, if we take a look at the distribution fo the total stablecoin transfers, we can see how more than 70% are represented by USDT, while 19% by USDC and 5.7% by DAI.

The daly volume varies a little bit more and it has a more heterogeneous distribution among the stablecoins. However, the top 3 continues being the same. In this case, the dominance of USDT dropped to below 40%, the USDC jumped to 36.5% and DAI to 14%.

Conclusions

In this dashboard, we have analyzed the activity of the DAI and the utility of it, and it has been compared with the major of the current used stablecoins. Then key insights extracted from the analysis have been:

• Daily transfers of DAI decreased since 2021.
• DAI is majorly used for DEX and CEX platforms, as well as DeFi and Dapps.
• DAI is one of the top 3 stablecoins in terms of number of transfers and volume. Only