Covalent Data Alchemist Program Q4 2022 Dorian Kane
Submission by: Dkane#4423
Week 2 - Comparing two DEX: DAI/ETH VS FRAX/ETH
In this report, we have used two stablecoin
Breef's introduction of the token
One of them is DAI is a stable, decentralized currency that does not discriminate. A decentralized governance community of MKR token holders governs the Maker Protocol, the smart contracts that power Dai.
The world’s first fractional stablecoin and crypto native consumer price index The Frax Protocol introduced the world to the concept of a cryptocurrency being partially backed by collateral and somewhat stabilized algorithmically. With the vision to create highly scalable, decentralized money in place of fixed-supply digital assets like BTC.
Hypothesis: I predict that DAI will have far superior results in numerical value as well as a more consistent number of returning users when compared to FRAX(Stablecoin) in all three categories in reach, retention, and revenue, however, I also predict that DAI will be growing the fastest in gaining new users for its project compared to FRAX.
Reach UniSwap/Sushi DaiReach Analysis - Traders /Day User BaseReach FRAX (Stablecoin) Sushi/UniSwap
Reach Analysis - Trader/day User Base
As seen from the charts above, there are major differences in the reach metrics between DAI/Eth and FRAX/Eth. A few bullet points from each chart when compared:
When analyzing the blockchain transactions count, I found that Ethereum had an average of 960,698 transactions per day compared to Moonbeam’s average of 1,230 from October 3,2022 — November 2, 2022.
When analyzing the reach of active blockchain addresses between DAi and FRAX, the data shows that at on the peak days for both DEX, UniSwap and Sushi had 502,786 more active addresses than Moonbeam, revealing that many more users are active on Ethereum than when compared to Moonbeam.
Lastly, Ethereum continues to shine when compared to Moonbeam when analyzing the difference in the number of addresses that were deploying contracts on each blockchain, with Ethereum having consecutively nearly 10x the number of addresses deploying contracts than Moonbeam.
Reach Analysis - Growing a User Base-DAI/Eth vs. FRAX/Eth (Uniswap&SushiSwap)
Reach Analysis - FRAX/Eth (Uniswap&SushiSwap)
