Tezos Economy in August: More Active Users

Tezos Economy in August: More Active Users

In June, we analyzed the volume of applications on Tezos and concluded that the ecosystem was missing the mainstream stuff: centralized stablecoins, lending protocols, and NFT with apes.

More than two months later, we have USDT, Yupana, Kord.fi, and the Clown Ape Club Tezos Ultra Superior−CACTUS collection. Let’s see how the Tezos economy responded to this.

Involvement in DeFi and NFT on the March

Despite the drop in the price of XTZ, the volume of DeFi applications increased. Sirius DEX had the best result: the volume of transactions there reached $19 million, which is almost twice as high as in June. Perhaps the growth in volume is due to the rebranding and listing of the SIRS token on Bittrex.

New DeFi projects also got their share:

  • Kord.fi protocol users have made $2.9 million worth of transactions;
  • Users of the Yupana lending protocol have made $506,000 worth of transactions.

DeFi’s rise in popularity may also be due to the fact that decentralized finance beats centralized finance in terms of profit and risk, with the exception of XTZ staking. By risks, we mean the possibility of losing money due to bad investment choices and the actions of regulators.

A few more DeFi-applications with new mechanics are to appear on Tezos in September. Hopefully, the trend will not stop and Tezos users will not be afraid to try them out.

The user base of NFT marketplaces has increased 2−6 times, and volumes up to 3 times. According to Dappradar, Objkt.com and hic et nunc (Teia) are among the 25 most popular marketplaces in the world.

DeFi

This is the data for the period from August 1 to August 30 compared to the analytics for June 2022. We used the data from internal application analytics and TzKT data.

Baking: active stake is 689 million XTZ (−1,1%) with total value of $1.06 billion.

Sirius DEX (former Liquidity Baking):

  • TVL — $15 million (+13%);
  • Volume — $19 million (+90%);
  • Users — 801 (+247%).

QuipuSwap:

  • TVL — $2.9 million (+0%);
  • Volume — $8.8 million (+64%);
  • Users — 6.6 thousand (+793%).

Plenty DeFi:

  • TVL — $6.48 million with bridges (+32%);
  • Volume — $4.9 million (0%);
  • Users — 5.5 thousand (+640%).

Vortex:

  • TVL — $451 thousand (−8%);
  • Volume — $307 thousand (−49%);
  • Users — 2 thousand (+48%).

SpicySwap:

  • TVL — $340 thousand (−30%);
  • Volume — $615 thousand (+4%);
  • Users — 1.8 thousand (+2068%).

Youves (Flat Curve):

  • TVL — $2.75 million (−19%);
  • Volume — unknown;
  • Users — 6.3 thousand (+1380%).

Kord.fi:

  • TVL — $437 thousand;
  • Volume — $2.9 million;
  • Users — 562.

Yupana:

  • TVL — $118 thousand;
  • Volume — $506 thousand;
  • Users — 463.

Staking and one token farming (excluding LP-tokens farms):

  • Youves — locked $3.147 million (+57%);
  • Plenty — locked $356 thousand (−25%);

Synthetic Assets:

  • ctez — $1.6 million locked (+51%);
  • kUSD — $5.4 million locked (−6.5%);
  • youves (uUSD, uBTC) — $16.8 million locked (+11.2%);
  • USDtz — $822 thousand locked (−18%);
  • WTZ — $240 thousand locked (+16%);

NFT Marketplaces

Objkt.com:

  • Volume — $8.9 million (+204%);
  • Users — 106 thousand (+588%).

fxhash:

  • Volume — $5.9 million (+38%);
  • Users — 41 thousand (+322%).

Teia:

  • Volume — $346 thousand (+237%);
  • Users — 21 thousand (+278%).

Versum:

  • Volume — $511 thousand (+350%);
  • Users — 6.3 thousand (+210%).

Tezos Domains:

  • Volume — $46 thousand (+15%);
  • Users — 3.3 thousand (+20%).

GameFi

Tezos Degen Club:

  • Volume — $255 thousand (−17%);
  • Users — 1 thousand.

Tezotopia:

  • Volume — $119 thousand (−5%);
  • Users — 6 thousand.

Juster.fi:

  • Volume — $67 thousand (+0%);
  • Users — 243.

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