Preview

The following questions will be answered in this dashboard:

• What are users swapping for?

• Create a visualization on what’s causing spikes in swapping behavior.

• What activities are the most common for users on Flow right now?

This analysis is done from the begining of March 2022.

Results

first focus on swapping behavior of wallets.

Without considering days, the chart above shows which tokens are popular to swap.

Beside Flow the main token of network, there are some stablecoins in the first places. FUSD and Tether are present in the first and third place. in the current bearish market wallets are fleeing to stablecoins

tokens of NFT projects like BloctoToken and StarlyToken are also present.

In this chart we have the average number of swaps per wallet over time. for example on May 20, 2022 each wallet on average has done 956 swaps to FUSD.

If we put FUSD aside, there is a decreasing trend in the average swaps per wallet.

FUSD has a huge spike that has made the wallets to swap in large numbers to this token. It was the black days of market, wallets wanted to fly to safety. note that flow blockchain had a high error rate at that time. many of them may be failed.

FUSD has a usage in buying NFTs in some marketplaces.

Tether token had a same trend as FUSD.

I categorized the transactions into four groups. engaging with NFTs, swapping, staking and transferring. as we can see the most common activity of wallets in Flow chain is to buy a NFT rather than staking.

Conclusion

The most popular tokens to swap to are FUSD, Flow and teleported Tether in order.

There is a spike in the middle of May in swapping activity because of swapping to FUSD.

the most common activities are Buying a NFT, transferring, staking and swapping in order.