What Will You Read?

In this analysis, You will read about DEXs in the Algorand network. We want to know-how has the growth of AlgoFi and Pact impacted swaps on Tinyman? Do we see a change in the number of wallets swapping on these DEXs? Do we see a change in the volume of ALGOs being swapped on Tinyman and the other DEXs? Are ALGO whales swapping on certain DEXs more than others? Have we seen the recent price change in ALGO impact the number of swaps/wallets/volume on the DEXs? If so, how?

Method

In order to find the number of users and volume, I used Swaps and Price swaps tables. I counted total users, Total volume of Algo, and total swaps of whales per DEXs.

• Whales Definition: Top 1000 wallets that hold Algos from top to down.

DEXs Swap

In the below chart, You can see the total daily number of user swaps per DEXs from 2022-01-01. As you can see, most users picked Tinyman to swap their Assets. Definitely, Pactfi and Algofi impacted on Tinyman swaps. The growth of Pactfi and Tinyman from February 23rd caused a decrease in the total number of Tinyman users. Total users of Tinyman decreased to lower than the average.

In the below chart, You can see cumulative daily users of DEXs. As you can see the slope of growth in Pactfi and Algofi is much faster than in Tinyman.

To compare these Dexs better, I filtered dates since February 22nd when all of them have swapped. In the below chart you can see the share of users per DEXs. Tinyman still is the popular Dex among the others. 75% of users chose Tinyman to transfer their assets. The second one is Algofi with 16.8% and the third one is Pactfi with 7.4%. They started just three months. In my opinion, the share of users would change in three months.

According to the below chart, You can see the total number of whale swaps per DEXs. As You can see whales chose most Tinyman to swap their assets. Tinyman with 91%, Algofi with 26%, and Algofi with nearly 2%. This is a share of whale swaps per Dexs.

In the below chart, You can see the Total daily swap volume of Algo Vs. the average price of ALgo in all DEXs. Until May 8th, 2022, The price of Algo hasn't impacted daily swaps. But after that when the Algo price dropped badly, Total swaps increased. The highest volume of Algo swapped on May 11th and 12th.

The below chart shows the total number of users who swapped Algo Vs. the average price of Algo since 2022-02-14 in all DEXs. Trends are like the previous chart.

Written by Hess

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discord_id: hess#0890

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twitter_id: @hessaminanloo

Thank You for Reading!