What Are Users Swapping gALGO3 For?

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. Let’s look what users are swapping their gALGO3 for while their ALGO is locked in governance.

I was surprised to see the result of my first query! i expected a list of pools in many DEXes and high volume for gALGO3, to find top 10 between them as this is part of the bounty question that flipside asks. But as you too can see from table below, there are only 4 pools and 2 DEXes for gALGO, one for YLDY with very limited near zero liquidity, one with similar situation for ALGO. so there are only 2 pools available both with ALGO/gALGO3 pair!

I found out that gALGO is a new born in Algorand Ecosystem and these are its first pools. so seeing this i decided to combine stats of these two pools as one is very smaller comparing to other.

But if you are willing to know this is how difference between tinyman and Pactfi looks like:

First peak in Numbers can be explained with Launch date but second peak is probably some whale mark since there seems to be no financial incentive inside and outside of Folks Finance for this.