Try Quests to earn cryptoWhat Are Users Swapping gALGO3 For?
In this dashboard we are take a look at the number of trades to and from gALGO3 in a daily basis. We are gonna analyze another interesting metrics like volume adn DEX swaps in order to see what are the ost used DEX to swap gALGO3 token.
Introduction and methods
gALGO3 is an asset that is pegged to ALGO. Users can lock their ALGO up on Folks.finance for governance and while their ALGO is locked they receive gALGO3 and you can use it for other defi activities.
In this dashboard, we are gonna explore the number of trades to gALGO3 and from gALGO3 by day, as well as the volume of trades to gALGO3 and from gALGO3 by day in order to see any notable days, and some possible news. On the other hand, we will analyze the most popular DEX on users are swapping gALGO3.
The first part of the analysis is about the gALGO swapped to assets. In this case, we can observe the first chart about the number of daily swaps which increased a lo during April 12th and 13th, but during the other days, the number was similar around 20. In case of percentage of these swaps, the major of them (99%) involved ALGO while the other 1% Yieldly. Then, only 2 tokens are used to swap gALGO3.
In terms of volume, the trend is similar to the swaps one, but in this case, it seems like it is increasing during the last days. In percentages, in this case, the 100% of the volume was moves to ALGO because of the Yieldly transactions didn't involved so much volume.
Regarding swaps from assets to gALGO3, the same occurs. IN this case, the percentage of ALGO swaps is higher, reaching 99.6 of them.
For the second approach about DEXes, we can see how only two DEXes are used. The first DEX in terms of swaps to be used has been Tinyman and in April 12th, PactFi was incorporated. However, in percentages, 88.6% of the swaps are done in Tinyman DEX while only 11.4% in PactFi.
Finally, exploring the volume on DEXes, the numbers are similar. There has been several good days with a huge amount of volume moved on Tinyman, that coincides with some increase on the volume of PactFi, but in this second case with lower numbers. The percentage of total volume moves is similar to the swaps, in this case, Tinyman volume represents 87.6% of the total volume while PactFi 12.4%.