Analysis: Competition and Challenges of the Mainstream DAPP/DeFi Ecosystem
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DAPP ecological data analysis
The development of DApp ecological applications is a key area for the combination of blockchain and industry in the future. Since 2018, major public chains have launched fierce competition in the DApp field. 2020 has been proven to be a crucial year for the DApp and DeFi ecosystems.
Figure 1: Active DAPP Distribution
Source: dapptotal; Coin Valley Watch
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DApp active user data: Since November 2019, the DApp daily active users of Ethereum have officially surpassed EOS, and in April 2020 exceeded the previous high in September 2018. The number of active users of Ethereum in September 2020 has dropped significantly by 28.5% compared with August, and the number of active users has dropped from 120,000 to about 90,000, but it still ranks first among the three major public chains; the number of active users of TRON DApp in September 2020 Compared with August, it decreased by 11.31%, and the number of EOS DApp active users increased by 15.78% compared with August.
Figure 2: Comparison of active users and transaction volume
Source: dapptotal; Coin Valley Watch
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Figure 3: Comparison of active DAPP proportions
Source: dapptotal; Coin Valley Watch
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From the perspective of the types of ETH, EOS and TRON DApp ecology, gambling, games and high-risk DApp types are the mainstream DApp types. Regardless of whether the DApp is currently alive or not, it can be found that as shown in the figure below, ETH, EOS and TRON TRON each has a dominant type of DApp, and the dominant types of the three are different.
Due to the block time limit of Ethereum and the mode of charging gas fees, for gambling DApps and high-risk DApps, Ethereum is not the best platform for such activities. As of September 2020, the number of game DApps on Ethereum is the largest, with a total of 1040, accounting for 41.80% of the total number of DApps on Ethereum; on EOS, the number of gaming DApps is the largest, with a total of 343, accounting for 41.80% of the total number of DApps on EOS. 56.70% of the total DApps; on TRON, the number of high-risk DApps is the largest, with a total of 297, accounting for 44.73% of the total DApps on TRON, which is basically consistent with the data year of August 2020.
Figure 4: ETH ecological DAPP distribution
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Figure 5: EOS ecological DAPP distribution
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Figure 6: Distribution of TRON Ecological DAPPs
Source: dapptotal; Coin Valley Watch
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DeFi ecological distribution
The DeFi concept has emerged since 2019, but at that time it was more of a small element in the Ethereum dapp ecosystem, with less than 1,000 daily visits. In the second half of 2019, MakerDAO averaged only about 250 single transactions per day. 2020 has become a crucial year for the development of the DeFi ecosystem. After March 12, 2020, the total value locked (TVL, Total Value Locked) of DEFI has shown an overall upward trend, becoming the most prominent category in the DAPP ecosystem. After June 2020, TVL accelerated upward. As of September 2020, the total value of DEFI locked positions was 8.54 billion US dollars, of which 7,925,116.09 ETH was locked in Ethereum, and the locked position/supply was 7.03% (4.07% in August); There are 68,820,109.11 EOS locked in EOS, and the locked amount/supply is 6.73% (7.76% in August).
Figure 7: Distribution Trend of Locked Fund Projects
Source: dapptotal; Coin Valley Watch
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Figure 8: Distribution of DEFI locked positions (thousands of dollars)
Source: dapptotal; Coin Valley Watch
The total trading volume of DEX this month is 799,638,900 US dollars, of which Uniswap V2 trading volume ranks first, accounting for more than 90%, followed by Tokenlon; in terms of the number of users, the total number of DEX users this month is 15,869, of which the number of UNISWAP users accounted for more than 50% %, followed by IDEX, accounting for about 30%.
Figure 9: Proportion of DEX trading volume
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Source: dappradar; Coin Valley Watch
Figure 10: Trends in the number of DEX users
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Figure 11: Proportion of DEX users
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