Big volume trades in DeFi are where decentralized exchanges really show their mettle: it’s a battle of the DEXs to get the best prices, lowest slippage, and deepest liquidity — all while each one tries to get the biggest share of the increasingly competitive crypto market.
For the DeFi plebs who, like us, are far from millionaires — but still enjoy reading crypto whales’ trading history — we have compiled data on DODO’s stablecoin trading pairs over the past year to see often crypto whales choose DODO when trading large volumes of stablecoins.
There have been 3,834 trades over one million dollars in value over the past year on DODO.
After reviewing the data for DODO’s USDT-USDC and USDT-DAI pools on the Ethereum mainnet and the data for the BUSD-USDT and USDC-BUSD pools on the Binance Smart Chain, we discovered the following:
- There have been a total of 3,834 transactions over one million dollars in value that occurred in these 4 liquidity pools. This includes 3,686 transactions on the Ethereum mainnet and 248 transactions on the Binance Smart Chain.
- For the USDT-USDC and USDT-DAI pools on the Ethereum mainnet, the median transaction volumes are $123,924 and $66,714 respectively; For the BUSD-USDT and USDC-BUSD pools on the Binance Smart Chain, the median transaction volumes are $1,014 and $1,225 respectively.
- In terms of the number of trading addresses and the total number of transactions, it is obvious that the stablecoin trading pairs on BSC have much more activity compared to the stablecoin pairs on Ethereum. The total number of transactions on BSC is 330,546, while the total number of transactions on Ethereum is 54,107.
Slippage on DODO can get as low as 0.02% when making trades over 1 million dollars in value.
For DeFi traders who are either day traders or have a large amount of capital, slippage is usually one of their major concerns. Lower slippage means smaller losses for each trade and this small amount of savings can add up quickly over time.
Thanks to DODO’s Proactive Market Making (PMM) algorithm, DODO is able to offer extremely low slippage for stablecoin trades. According to the depth chart shown below, a trade worth 1 Million dollars in the USDT-USDC pool on Ethereum will only induce 0.02% slippage; and a trade worth 1 million dollars in the BUSD-USDT pool on BSC only induces 0.03% slippage.
Low Trading Fees for Major Stablecoin Trading Pairs on DODO
Deep liquidity and low trading fees, combined with external liquidity aggregation, together make DODO one of the best trading platforms in the DeFi space
The data used in this article are from January 7, 2022. The views expressed in this article are for research purposes only and are not financial advice.