With all the risks associated with the THORChain Chaosnet, we can see that there has been a large improvement on ThorSwap whenever using this network. This is related to the 1-year anniversary of the THORChain Chaosnet. The purpose of this article is to compare different metrics, comparing THORChain in its first 30 days versus the last 30 days.
From this Chaosnet, we can see different risk factors: In Chaosnet, you are interacting with a network outside of the control of the THORChain team. Chaosnet is an experiment in liquidity and security; it’s highly risky and should only be used by experienced users.THORChain and node operators will not be held liable for any potential loss of assets as a result of participation in Chaosnet.
In this analysis, we would like to consider THORchain in its first 30 days compared with THORChain’s last 30 days, out of this 1 year period of THORchain Chaosnet.
We can see from the below graph how the number of swaps on THORchain has changed over the last 30 days. Over 9 times of total swaps were done in the past 30 days if we take first 30 days into account. Comparing past 30 days with first 30 days, the number of swappings has increased substantially. During the last 30 days, there was a maximum number of swaps on day 18. Following the trend of increasing swaps in the first 30 days. On the other hand, the trend is decreasing in the last 30 days.
We can see from the below graph how the number of users on THORchain has changed over the last 30 days.The Past 30 Days Timeline contributes the highest percentage (87.38%) to the total Users out of both Timelines. Comparing past 30 days with first 30 days, the number of users has increased substantially. During the last 30 days, there was a maximum number of users on day 11. Following the trend of increasing number of users in the first 30 days. On the other hand, the trend is decreasing in the last 30 days.
The Past 30 Days Timeline contributes the highest percentage more than 98 to the volume of swaps out of both Timelines. Comparing past 30 days with first 30 days, the swap volume is increased substantially. Following the trend of increasing the swap volume in the first 30 days. On the other hand, the trend is decreasing in the last 30 days.
If we compare the past 30 days period to the first 30 days period, there was also a larger collection of daily swap fees in the past 30 days. In the recent past, on day 26th, the swap fees collected in the last 30 days have reached their maximum. As a result, there were not much swap fees collected during the initial days of the THORchain Chaosnet, but now there are more swap fees being collected. As a result, the number of users has increased over the past 30 days, as well as over the period of the first 30 days.
Past 30 days TVL on THORchain also increased more if we compare with the first 30 days TVL. Which is almost increased more than 9times . The TVL is in increasing trend in first 30 days . And the TVL of past 30 days is in decreasing trend now.
The number of pools has increased over the past 30 days. During the first 30 days, we may not see many fluctuations on the pools. Moreover, they maintained a certain number of pools in many days without constantly adding new pools. Initially, there were fewer than 10 pools on the first 30 days, but later the number of pools increased gradually and they steadily maintained it. On the 29th day, we saw a fluctuation in the number of pools. However, in the past 30 days we have seen a lot of pools being added and deleted.
Over the past 30 days, there has been an increase in the number of blockchains on Thorchain. We can see on THORchain that there have been two more blockchains added in the last 30 days.
In conclusion, we can say that even after learning about so many risk factors in THORchain Chaosnet there, we can still see a lot improvement has occurred when compared to the first 30 days and recent 30 days. In many metrics, there has been progress past 30 days when compared with the first days of the period. This is a sign that Chaosnet is making progress. Hopefully it will grow even further in the future. Best wishes to the team of THORchain Chaosnet.