Digging into Avalanche: Day 2
Highlighting low gas fees.
We are looking at some stats on Pangolin - the largest DEX on Avalanche.
SushiSwap recently announced that it was deploying on Avalanche so this is the Pangolin baseline. Over March, the average swap size increased by 35% but gas costs stayed extremely low at 0.04%.
This chart shows the daily variation in swap costs on Pangolin. The range is 0.02% up to 0.08% depending on the daily volume per swap.
The top 5 pairs by daily USD volume (used for this analysis) are shown below. The complimentary token for all of them is AVAX. 63% of the top 5 volume comes from the USDT and ETH pairs.
The visual below aggregates the top 5 pairs to show daily statistics. The average daily volume is just over $14M USD across 2k swaps. This only generates about $4.5k in gas fess per day (yes that's it)!
If you want to get involved with Avalanche check out the largest ever wallet-design competition with over $15k in prizes to be won! It just launched today, check out Covalent to find the details.