We welcome the second month of 2022 with open arms, and celebrate the exciting events that have taken place in the last 4 weeks:
A TUSD Success Story
Since Axial’s inception, the AS4D pool has been a major incentive for users to mint and deposit TUSD on Avalanche. This can clearly be observed through the incredible percentage of the token’s liquidity on Avalanche on the AS4D pool’s smart contracts.
At some point the majority of TUSD’s supply on Avalanche was in the pool, and has remained at approximately 40% during a prolonged period of time. This week, due to a large mint of TUSD, this value has dropped to approximately 19% (this corresponds to the largest supply in a smart contract, or the second largest supply in any address).
We’ve expanded our relationship with the team behind TUSD through an interesting AMA taking place in Snowball’s Telegram channel, as well as a follow-up Medium post for those that missed it. If you’re looking for a guide on how to mint TUSD, we’ve also published one this month.
Axial’s New Updated User Interface
Axial’s UI has never looked so good - our brand’s color theme is now more present than ever on the page, our buttons are larger and easier to read, pool information is more easily accessible, and loading states are more distinct and well-animated.
Our design team and front-end developers have outdone themselves this time around, and will continue to conduct research and develop even better UI solutions for upcoming Axial updates.
Snowballers Reap The Benefits
A portion of AXIAL tokens have always been directed to xSNOB holders (users who stake their SNOB tokens) from Snowball’s community, as a way to repay the community that proposed, developed and eventually launched the amazing project that Axial is today. As of now, a total of approximately 12M AXIAL tokens have been distributed to such token holders through weekly distributions.
If you’d like to learn more about xSNOB, how you can benefit from staking, and get your share of AXIAL tokens, check out Snowball’s documentation here.
The Community Continues To Swap
An exchange needs to allow for simple and effective token exchanges, and that is what Axial has been doing to perfection since its launch. With approximately 48,000 swaps made and over $440M in volume traded, Axial has been demonstrating what good swap rates mean on Avalanche.
The top three tokens with the most demand for swaps are MIM, USDC.e and DAI.e respectively, with a large amount of such swaps taking place through ParaSwap and other DEX aggregators.
Some Juicy Stats
A newsletter is not complete without looking into some interesting stats collected throughout these last few weeks.
- AXIAL Supply - We are currently sitting at approximately 17.5% of AXIAL’s maximum supply.
- Tokens Swapped - Users have swapped over $440 Million in token value through Axial’s many pools, with over 47,800 transactions to date.
- ParaSwap TXs - ParaSwap’s users have transacted over $90 Million in token value through Axial, over 6,000+ transactions.
- Swap Fees - Over $175,000 has been collected as fees from the many transactions through Axial’s pools.
- Peak Volume - January’s peak weekly volume was of approximately $20M in total volume traded.
- Average Swaps - The average swap volume sits at around $8,500, whereas the AM3D pool has an average swap volume of over $13,500.
- Token Demand - The token with the highest demand is currently MIM, with over $140M being bought through Axial’s swaps.
About Axial
Axial is an Avalanche-native decentralized exchange that is the centerpiece for liquidity of value-pegged assets in the ecosystem. It provides traders swap functionality with ultra low fees and slippage, and is integrated into the best DEX aggregators in the space. Axial specializes in providing liquidity between a variety of stable assets, including bridged, synthetic or derivative assets.
The Axial DAO was the first project to be launched as a spinout of the Snowball DAO, led by one of the most experienced teams on Avalanche with a great record of transparency, community-focus and innovation.
