Largest Liquidity Providers Of Mirror Finance

In this article we describe the largest liquidity providers on Mirror over the last 30 days, along with which pools they withdraw liquidity from.

By adding equal amounts of mAssets and UST to the Terraswap pool, a liquidity provider increases liquidity in the corresponding market.Liquidity providers receive newly minted LP tokens which set up the liquidity provider’s share in the pool and also allow them to claim their share of mAssets and UST from the pool through burning the LP tokens.

Added and Removed Liquidity Amount and Transactions – Last 30 days

We can see on the below graph how much liquidity is provided to and removed by the largest liquidity providers, as well as their added and removed transactions for the last 30 days.A total of $47.32M worth of liquidity was added between October 28 and November 28 of 2021. The maximum added liquidity ($) of $3.76M was observed on November 26, 2021, and the minimum added liquidity ($) of $411.99K was observed on October 31, 2021.The total added liquidity ($) in November 26, 2021 was higher than usual.

Total Total Transactions between October 28, 2021 to November 28, 2021 was 5,974.November 1, 2021 recorded the highest number of added transactions, 357.Transactions added in November 1, 2021 were higher than normal. The amount of liquidity provided wasn’t increased after November 9,2021, but on November 26,2021 it was significantly increased.

The total removed liquidity (in dollars) between October 28, 2021 and November 28, 2021 was $66.75M.The maximum liquidity removal was observed on November 22, 2021.Liquidity removed in November 22, 2021 is higher than usual. In total, 5.2K transactions were removed from October 28 to November 28 of 2021.The maximum number of transactions removed was 292 on November 26, 2021.

The graph below shows a comparison of Liquidity Amounts added and removed over the last 30 days.Added liquidity shows a decreasing trend and total removed liquidity ($) shows an increasing trend.In the past 30 days, almost the removed liquidity was greater than the added liquidity. On Nov 22,2021 the maximum amount of $6.42M was taken from the largest liquidity providers. It happened again on Nov 26,2021.

This graph shows the Net Liquidity for the past 30 days after adding and removing amounts of Liquidity.Net liquidity values were almost negative for Liquidity. There is a maximum net liquidity amount on Nov. 12, 2021.The total net liquidity ($) in November 22, 2021 and November 13, 2021 is lower than normal

Liquidity by Top5 Liquidity Providers

The total liquidity provided by the top 5 liquidity providers between October 29, 2021 and November 28, 2021 was $19.52M. Here, The highest Total Liquidity($) was observed on November 26, 2021, while the lowest Total Liquidity($) was observed on October 31, 2021. Total Liquidity($) in November 26, 2021 was higher than normal. Every 10 dates, Total Liquidity($) shows a seasonal pattern, with the high occurring in date 2 and the low occurring in date 3.

In the Top 5 Pools according to Total Liquidity($), mGLXY has the smallest Total Liquidity ($) at $65.81K, while mTSLA has the highest Total Liquidity ($) at $3.42M.The highest Total Liquidity($) was observed on November 26, 2021, while the lowest Total Liquidity($) was observed on October 31, 2021. There was a significant increase in Total Liquidity ($) in November 2021. mTSLA is the main contributor.

Observations

  • Looking at both the added and removed liquidities from the above analysis, we find that the removed amount of liquidity is greater than the added amount of liquidities.
  • Nov22,2021 we can observe that the maximum amount of liquidity has been removed.
  • The added liquidity amount on Nov 12th and Nov 28th, 2021 is greater than the amount removed on those dates.
  • On Added Liuidity, I see a pattern of Total Added Liuidity ($) showing seasonality along every 8 date range, with low in date 3 and high in date 5.
  • Same way on Removed Liquidity, Total Removed Liquidity($) shows seasonality every 8 date, with high in date 5 and low in date 8. Likewise, Total Removed Liquidity ($) shows seasonality every 8 days, with high in day 5 and low in day 8.
  • The top 5 positions of pools are changing every day, and in this case mTSLA contributed largely to the increase in Total Liquidity ($) in November 2021. Therefore, we can consider that more users are showing a great deal of interest in mTSLA.

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