We reviewed the Equilibrium trading stats. Here’s what we found
The purpose of Closed Beta was to evaluate the progress we’ve made so far on Equilibrium. We were as eager as you were to test, experiment with, and push the Equilibrium application to its limits. To examine the functionality of our software in various use cases, our team set up several accounts.
We compared our findings to the expectations outlined in our How-to-Maximize Portfolio in Closed Beta Series.
Here’s the Trading Use Case review.
Trading Volume
Having built the Equilibrium app for over 2.5 years, we put it to the test through Closed Beta. We provided a conducive environment for proper testing, giving participants virtual assets to execute any supported transaction on the application. We were intrigued by the trade findings and statistics.
We recorded ~$22M minted and ~$17M burned EQD — the main quote currency on Equilibrium DEX. Mints are leveraged long holdings, whereas burns represent leveraged short ones.
Cumulative EQD mint numbers:
The trading volume generated during the beta was mainly from DEX transactions.
BTC, ETH, DOT, and GLMR assets were the highest actively traded pairs, accounting for more than 56% of all DEX trading volume (~50M out of 85M total).
We also observed activity during the beta, suggesting bot testing and heavy trading by participants, indicated by the sharp increase in cumulative trading volume on specific beta days.
Large candlestick whips on the related charts indicate fascinating accounts and curious minds that attempted to reverse engineer our dummy liquidity market-maker bot and game it by making squizes on certain trading pairs.
Active Users Vs. Deposits
We recorded peak DAU (daily active users)on the first day, as expected (963), before a steady decline to average at ~300. Participants spent an average of 41 minutes in the beta, with the highest average time recorded a week into the beta.
Users deposited $60M+ spread across the borrower, lender, and insurer pool. Despite having moderate APRs, people were more engaged with the Lender and Insurance pools than the Borrower pool. However, DEX and margin (borrow) accounts helped the borrower pool obtain the most deposits.
Participants also showed a bias towards specific cryptocurrencies. With up to 1000 orders and transactions per day, BTC has the highest DEX order currency utilization! ETH came in a close second with up to 800 order requests daily.
For a deep statistical dive, here’s our detailed Closed Beta report.
About Equilibrium
Equilibrium is a one-stop DeFi platform on Polkadot that allows for high leverage in trading and borrowing digital assets. It combines a full-fledged money market with an orderbook-based DEX. EQ is the native utility token that is used for communal governance of Equilibrium. xDOT is a liquid and tradeable wrapped DOT that unlocks liquidity of DOT locked in parachain auctions and delivers multiple crowdloan bonuses on Polkadot.
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