Date: 2022-05-27

Methods

• In this analysis I investigate the amount of swapped $THOR
• Query data from thorchain.swaps
• All data is from between Januar - May, 2022 and May, 2022

Overview

What is THORChain?

THORChain is a blockchain, based on Cosmos and Tendermint. It offers native swapping of assets between blockchains.

What is $THOR Staking 2.0 / $vTHOR?

The new $THOR Staking 2.0 and $vTHOR launched on May 4th. $vTHOR offers new staking rewards, auto-compounding, trading discounts and more.

$THOR Staking 2.0 / $vTHOR

Analysis

This analysis was created on 2022–05–27 for a bounty at Flipside Crypto by piper to answer the following questions:

THORChain - Swaps to $THOR: Q100. On May 4th, $THOR staking was enabled that yielded rewards for stakers based on THORSwap volume. Did we see a spike of swaps to $THOR around that time? Has there been any noticeable change in $THOR swapping since that event?*

All data used are from Flipside Crypto. Flipside Crypto

Thanks for reading!

Conclusion

• $THOR Staking 2.0 only had a short (10 day) positive impact on swap volume to $THOR.
• Generally swap volume is in a downtrend since April.

Swapping Volume to $THOR

The chart above shows the swap volume to $THOR in May, 2022. It looks like with the start of $THOR Staking 2.0 (orange) the daily swap volume was increasing strongly! So the start of staking had a positive effect on swapping to $THOR, at least for 10 days.

Let's see how it looks, when we zoom out a bit.

This chart shows the $THOR swap volume since the beginning of the year. We see that the swap volume started to increase already in March and had its peak in April. Since then, the swap volume is in a downtrend, which was briefly interrupted by the introduction of "$THOR Staking 2.0" in May, but is continuing again just 10 days after the introduction of staking 2.0.