What is Thorchain?

THORCHain is a decentralized liquidity protocol that allows users to easily exchange cryptocurrency assets across a range of networks without losing full custody of their assets in the process. With THORChain, users can simply swap one asset for another in a permissionless setting, without needing to rely on order books to source liquidity.

Methodology:

In this dashboard I am going to first look at how many new users received RUNE for the first time from direct transfers and from CEX's I will not look at individual CEXs but everything as a whole as many of CEXs have null names thus that will not be helpful. Next I am going to look at the Rune gotten from upgrades and break it down based off the burn asset. lastly I am going to look at Swaps and look at see how many there have been over time and from what pools these users are swapping from.

Metrics:

1. Daily New Users Receiving Rune Via a Direct Transfer

2. Daily New Users Receiving Rune Via a CEX

3. Daily New Users Receiving Rune Via Upgrades by Upgrade From

4. Total New Users Who Received Rune Via Upgrades by Upgrade From

5. Daily New Users Receiving Rune by Swap Pool

6. Percentage of New Users Receiving Rune by Swap Pool

CEX and Transfer Analysis:

If we look at the first graph we can see that on a daily basis a lot of new users are receiving Rune via direct transfers, in fact on most days anywhere from 30-100 users are receiving Rune for the first time from a direct transfer. Although on some days it has been seen to be much higher with one day in particular April 8th 2022 having 1125 new users receiving Rune from direct transfers. If we move onto how many new users are receiving Rune from CEXs daily we can see that on most days there are either 1 or 2 users receiving Rune from these places a very small amount, although on one day June 15th 2022 178 Users received Rune from CEXs the next few days anywhere from 30-100 users were receiving Rune from CEXs a day much more than usual.

Upgrade Analysis:

If we look at the first graph in this section we can see that on any given day anywhere from 30-110 users are receiving Rune from upgrades. The majority of the Rune they are receiving from the upgrades is from BNB.RUNE a very small percentage is from ETH.RUNE. This is pretty obvious if you look at the graph where you can see the dominance of BNB.RUNE on nearly every single day on the graph. If we move onto the next graph we can see this trend even more 16.43k users who received RUNE for the first time got it from an upgrade from BNB.RUNE while only 1993 got it from ETH.RUNE, nearly 8 times as many first time users upgrades via BNB.RUNE than ETH.RUNE showing its popularity once again.

Swap Analysis:

If we look at the first graph in this section we can see that on any given day anywhere from 200-500 users received Rune for the first time from swapping for it. On a couple days in particular though there were a lot more users who received Rune for the first time via swapping. September 27th 2021 was one of these days where about 3000 users received RUNE for the first time from swapping. The majority of users who are swapping receive RUNE from BNB.BNB, BTC.BTC, and BNB.BUSD-BD1 as you can see from there dominance on each day over time. If we look at the final metric we can see this trend once again these top three pools makeup over 50% of all swaps were users receive Rune for the first time.

Conclusion:

1. Many users receive Rune for the first time from swapping, direct transfers, and upgrades while not very many users receive Rune from a CEX for the first time.

2. Many more users receive Rune for the first time from upgrading from BNB.RUNE rather than ETH.RUNE.

3. The top three pools for users to receive Rune from for the first time by swapping with are BNB.BNB, BTC.BTC, and BNB.BUSD-BD1