Wrapping DEC | Data on DEC wrapped by date and accounts

in LeoFinance3 months ago (edited)

There is a lot of things happening on Splinterlands now, especially the land presale. Some nice partnerships announced as well, like the Brave one.

DEC was officially listed on Uniswap on October 1, 2020 DEC is on Uniswap.

Let’s take a look at some data!

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Having a token listed on Uniswap with a decent liquidity can do a lot for a project. We have already seen this in cases like WLEO. The DEC listing on Uniswap also contributed a lot for the DEC price as it has been increasing and maintain its peg.

At the moment there is around 280k USD in the liquidity pool for DEC on Uniswap.

02a.png

source

A total of 165M DEC in the liquidity pool.
The pool has been growing steadily up until October 25th. A drop afterwards and it went up again. Now have in mind the data above is an USD value so when ETH or DEC goes up or down so does the pool value. It doesn’t represent the amount of tokens in the pool.

Amount of wrapped/unwrapped DEC per day

Just a note on the wrapping DEC data. Wrapping DEC is basically transferring/depositing DEC on the Ethereum network. It does not mean that all the wrapped DEC ends up in the liquidity pool on Uniswap.

The following API from Splinterlands is used to collect the data:
https://game-api.splinterlands.com/players/balance_history?username=sl-eth&token_type=DEC

The API is limited to 100 data points. I have been pooling data on a regular basis from October 17, and don’t have the data before that. Would be nice if Splinterlands increase the data limits for the API 😊.

When someone is wrapping DEC from the game a transfer is made to the sl-eth account. The oposit happens when unwrapping.

Here is the chart for the DEC wrapped in the period October 17 – November 7, 2020.

02.png

As we can see there are a few spikes in the period.

A total of 135M DEC was wrapped from October 17 to November 7.
We can notice the big spike in the last day on November 7. A total of 64M DEC was wrapped on this date. This is most likely because of the presale. A lot of users didn’t made it into the presale and probably they got back in the pool on Uniswap.

Unwrapping DEC!
How things stand with unwrapping DEC? Here is the chart.

03.png

Interesting there is quite a significant amount of DEC unwrapped as well. This might be because of the land presale, but we can see some nice numbers even before the presale.

On a few occasions there is more than 10M DEC unwrapped per day, and a total of 114M unwrapped in the period. In the last two days we can see a 11M and 20M DEC unwrapped.

When we combine the wrapped and unwrapped DEC by date, we get this:

04.png

The amount of unwrapped DEC was bigger in general up until the last day. A total of 64M in positive DEC wrapped on November 7. A total of 21M more DEC wrapped in the period than unwrapped.

Top accounts that wrapped/unwrapped DEC

Who is doing most of the wrapping/unwrapping?

Here is the chart for the top accounts that wrapped DEC.

05.png

@cryptoeater is on the top with almost 20M DEC wrapped in the period, followed by @cryptomancer and @mydays
Have in mind the first days of since the WDEC launched are not calculated above, when most of the wrapping happened.

As already mentioned, it doesn’t mean that all the accounts above provided liquidity in the pool some are using the ETH-DEC pair just for trading.

How about unwrapping?

06.png

@abrockman on the top here with almost 8M unwrapped followed by @foggybotom and @sm-usd.


Overall, quite an activity on the wrapping/unwrapping DEC side of things. The Uniswap pool has given a great opportunity for some large trades to happen that otherwise would be hardly possible on Hive Engine. Also the liquidity incentive program that is running for the first 90 days is giving a nice result with 280k USD in the ETH-DEC pool that had a great impact on the DEC price and the game in general.

Obviously in the last period some have withdrawn the DEC from the pool most likely to participate in the land’s presale, and then went back again.

All the best
@dalz

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Through Uniswap, we could make connections with other blockchains with one click. The situation is like finding the best Blockchain to operate (Hive) and piling up any other coin that you want to invest... Liquidity pools opened a new era ^^

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Dec and leo listed in uniswap. That is a good news I wonder why there is no whive?

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There is wHive - https://whive.network - Announcement

Liquidity is low, but we are working on a decentralized oracle and integration with DeFi platforms.

How about unwrapping?
so sm-usd also took advantage of converting their DEC to ETH then.

DEC is now starting to fall and I am wondering if land sale price will remain same in second presale if somebody use fiat==> DEC==> Land.

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Unwraping are transfers from eth to in game.

Thanks for clarification.

DEC has made great strides in recent weeks: the many innovations of Splinterlands have attracted investors, increasing the value of the token and all the cards in the game.

Listing on Uniswap is definitely one more reason to push DEC higher

Posted Using LeoFinance Beta

Seems like this wrapping thing is the fastest way to pump more money into the Hive ecosystem at the moment.

Posted Using LeoFinance Beta

!BEER

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That first presale certainly caused a lot of activity - I've only got 0.4% of the pool with 600K staked but I was showing up to - 30K DEC for most of last week and all of a sudden plus 80K yesterday!

Lots of swapping out going on.

That'll probably change as phase 2 approaches.

I've sold and swapped a fair bit of DEC for a nice profit.

Been a good opportunity this!

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I'm not sure about the price of DEC, and where it is going from here. I think it will be stable for the time beeing. Almosy 300k in the pool should do its thing. Also I would like to see DEC unpegged from the 2000=2$ at some point.

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I can't imagine it'll go down too much until the end of the year, maybe after the presales?

I need to check whether Splinterlands will be selling any in the immediate future too!

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Also I would like to see DEC unpegged from the 2000=2$ at some point.

I don't think that's ever going to happen.

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Why not ... DEC inflation is goin down, more players coming in, the price should go up :)

That's all true, but the par value of 1000 DEC to 1 USD isn't going away.

It gets to be a bit complicated. New cards are minted through pack buying, which creates an aggregate ceiling on the price of DEC. The expected DEC value of a pack is 575 DEC (with potions). So at most, DEC can appreciate to 575 : 2, which is a 4x increase. Not a bad gain, but not a moonshot.

And more likely, we will see what we have already seen. Players start burning loads of cards above par and drive the price back down.

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Ah yea ... a lot of stored DEC in the cards :)

I wonder what they will come up with for the time after the initial 90 days. Matt already said on an AMA that they will likely continue to incentive the pool providers.

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There needs to be some incetive going forward as well. Or they provide the liquidity by them self. Even if they can put in the finance, its not good for the project if they do it by them self, as it exculdes the community and it cut off another way for making income in the game.

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Good news

What do you like especially?

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Having a token listed on Uniswap with a decent liquidity can do a lot for a project. We have already seen this in cases like WLEO. The DEC listing on Uniswap also contributed a lot for the DEC price as it has been increasing and maintain its peg.

At the moment there is around 280k USD in the liquidity pool for DEC on Uniswap.

I'm an occasional player, with streaks of two or three consecutive days at best playing. The Uniswap and Brave partnerships are steps in the right direction. I might also spend some more time playing the game, with the additional incentive of participating in the next land sale. :)

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Hey @dalz, here is a little bit of BEER from @pouchon for you. Enjoy it!

Learn how to earn FREE BEER each day by staking your BEER.

Thanks for sharing! - @marianaemilia

Thank you for the analysis and important information. I unfortunately never managed to accumulate DEC because I always spend everything with new cards.

Thanks!
:)

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