Introduction and methods

UST has been one of the most prominent stablecoins in 2021 thanks to its launch on one of the main blockhain ecosystems and one of the most important projects in terms of growth such as Terra.

In this dashboard, we are gonna see what competitive advantages that UST has against DAI and viceversa in order to determine if it is a good option for developers instead of DAI. To do that, we are gonna analyze the following metrics:

• Daily volume over the past month
• Daily fees over the past month´
• Daily swaps over the past month
• Swaps per second (SPS) over the past month

Results

In this first chart, we can see two of the main metrics to be analyzed: the volume and the fees. I put it them into the same chart because of one is related to the other.

On the one hand, if we take a look at the daily volume, we can see how despite some few days when the volume of UST and DAI looks similar, for the rest of the days the volume of UST have been higher than the DAI volume. In a long period of the time of the study, the UST volume remained being 10x higher than DAI volume.

On the other hand, in terms of fees, we can see how they are related to the amount of volume moved. While in DAI, the daily average fees have been similar over time, because of the daily volume remained cosntant as well, for UST the fees varied a littel bit more due to the amount of volume moved varied as well. However, when the daily volume numbers are similar for the two assets, it can be seen how the UST fees are extremelly lower than the DAI fees. It is because UST is a Terra native asset, a non-congestioned network that has currently low fees. However, DAI is an Ethereum native token, a network currently saturated with high fees.

In this second and last chart, we can see not only the daily swap transactions but also de swaps per second (SPS) over the past month. In terms of results, we can see how from the beginning until the end, the amount of swaps related to UST asset were higher than DAI related ones. In fact, the number of UST swaps increased over time while the DAI swaps seems to be decreased. In fact, if we take a look at the SPS, we can see how the number again has been higher for UST than for DAI and the difference was going higher and higher over time.

Conclusion

To conclude the analysis, we have compared the UST against DAI in terms of different metrics such as volume, fees, swaps and SPS. In all of the cases, the UST were consolidated with the best numbers and then, it has become clear that it is better to transact with UST than with DAI.