DappRadar Analysis On Interactions Between The Most Popular Ethereum DeFi Dapps

• A popular data attainment and analysis firm DappRadar has come up with a study based on the interactions between the most popular Ethereum DeFi dapps.
• The January 2020 report depicts in terms of owning a common audience, Compound was the top player as 28% of the wallets that interacted with MakerDAO also interacted with Compound.
• A major downfall is observed in the interactions between MakerDAO and Fulcrum during the same period.

A popular data attainment and analysis firm DappRadar has come up with a study based on the interactions between the most popular Ethereum DeFi dapps.

Compound was the top player in January 2020

Looking at the most significant Ethereum DeFi dapp, MakerDAO, the percentage of the number of wallets interacting with the MakerDAO monthly also interacted with other DeFi dapps. The January 2020 report depicts in terms of owning a common audience, Compound was the top player as 28% of the wallets that interacted with MakerDAO also interacted with Compound.

This means that generally there’s always been a close connection between the two Ethereum dapps. However, this relationship has affected since the MakerDAO begins to offer interest payments along with borrowing and trading within its Oasis dapp.

This weakening is further observed in February and March when the percentage of Compound dropped to a low of 9% while interacting with MakerDAO’s wallet.

A major decline witnessed between MakerDAO and Fulcrum

Also, a major downfall is observed in the interactions between MakerDAO and Fulcrum during the same period.  Moreover, this was somewhat Fulcrum’s decision to limit its trading features which condensed its audience during March.

On the other side, the MakerDAO and Synthetix, and MakerDAO and dYdX interactions declined a bit less but an obvious drop was seen in both the cases.

Summing up the analysis that says with regards to several reasons, MakerDAO has occupied a big portion of the active Ethereum DeFi audience. Also, the interaction between MakerDAO and Synthetix’s user bases has always been minimal.

Priyanka Kulkarni