Deep-Dive Dashboard Analysis of LODE’s Commodity-Backed Stablecoins (AUX and AGX) on Trader Joe

Hello everyone,

I’m excited to share a comprehensive dashboard that I’ve developed with the help of [u/MetricsDAO]( and [u/Pine13579573]( which provides an in-depth analysis of the newly introduced commodity-backed stablecoins, AUX and AGX, on Trader Joe.

The early reception of these assets has been encouraging, with $1 million in swap volume generated by 473 unique users. The gold commodity token, AUX, has dominated the trading activity, accounting for a little over 80% of the swap volume and attracting roughly twice as many users as the silver token, AGX.

In terms of token distribution, we’ve found that it is highly concentrated. Large holders (holding > $10k) account for around 80% of all tokens in circulation. However, the majority of users (around 80%) hold less than $10 of these tokens, which suggests there is room for broader token distribution in the future.

One of the most interesting findings from the analysis is the long-standing engagement of these token holders with the Avalanche ecosystem. Approximately half of the wallets holding these tokens were active on Avalanche before July 2022. This shows that many of the users interacting with these new assets have a solid relationship with the Avalanche blockchain.

Furthermore, these token holders have shown significant engagement in the Avalanche DeFi space. The top token used by these users is Wrapped AVAX, and they’re highly active on both the Trader Joe and Pangolin DEX.

For a more detailed view of the metrics and analysis, check out our comprehensive dashboard [ . As we move forward, we anticipate these trends to evolve, reflecting changing investor sentiment, market dynamics, and growth of the Avalanche ecosystem.

Stay tuned for more updates and feel free to share your thoughts or questions on this analysis!

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