Dune Digest #31
GM 🧙
Hello again friends, welcome to Issue #31 of Dune Digest.
We have an exciting issue this week covering hot new NFT projects, airdrops, the DEX market and more.
First though a little housekeeping and news from the Duniverse:
We’re looking for a Product Designer to help us build incredible products. If you - or anybody you know - would be a good fit, here are all the details
16 Wizards have submitted their entries to our first OpenSea bounties
Some gigabrain built a tool that allows you to make Dune queries in plain English
There’s a new bounty to build NFT focused dashboards
Now, let’s get into the data.
Noox Experiments with Soulbound NFTs
Recently Vitalik Buterin proposed “Soulbound” tokens (SBTs), a special kind of NFT that are non-transferable and held in unique wallets called Souls.
Buterin proposed a number of potential use cases, one being on-chain credentials. Decentralized Society: Finding Web3’s Soul is a good read for more background and context.
So what’s being built around SBTs so far?
@skillexploredao released a dashboard this week on Noox, a platform where users can mint their Web3 achievements as SBT “badges”.
So far there have been almost 11.8k badges claimed by 2,350+ addresses:
This project is currently in closed beta, so the data is still sparse. It’s interesting to see some uses for SBTs emerging though, and we’ll be keeping an eye on Noox through the dashboard.
The Dawn of Writing NFTs
This week we witnessed an exciting development. Mirror, Web3’s native publishing platform, announced Writing NFTs.
Mirror will now allow creators to:
“Mint your writing as a digital collectible and set a customizable supply and price for it. Writing NFTs are completely free for writers to create, and collection happens on an Ethereum L2 — making transactions inexpensive, fast, and environmentally friendly”
@ilemi made a dashboard to track things, let’s see what’s been happening so far.
Collectors now have the chance to directly support their favorite writers, and take a stake in what they judge as an important piece.
So far there are more than 1,200 unique collectors, and almost 20 $ETH has been raised:
191 pieces have been published as WNFTs by 159 Unique Authors. Collectors have minted 2,986 in total - and all these figures are rising as we write this.
Yesterday had the most action so far with 1751 collected and 9.7 $ETH raised.
A wide range of pieces have been published as WNFTs, the most popular so far being the announcement itself:
Once mints have sold out, collectors will need to grab desired pieces on the secondary market, which means heading over to Quixotic - Optimism’s NFT marketplace.
Total volume on Quixotic has exceeded $56k from 19.4 total trades.
Writing NFTs are an interesting and exciting development, and represent an important step in enabling content monetization Web3 style. Check out the full dashboard for more.
Orca Gains Dominance
A few months ago Orca was one of several big players in the Solana DEX market, competing with Raydium, Serum and others for users and volume.
In late March Orca launched Whirlpools, a “concentrated liquidity” feature that promised higher capital efficiency and lower slippage.
Soon after, popular Web3 lifestyle app StepN integrated Orca’s pools to power its swaps. This lead to a boom in overall usage which put Orca ahead of competitors.
Let’s investigate with a new dashboard by @0xkartod_bounty.
Orca’s share of Solana Dex users grew significantly after late March, overtaking Serum to the #1 spot:
They didn’t take users from Serum, whose numbers remained relatively steady.
Rather, total users more than doubled as tens of thousands were brought into the ecosystem. They took a larger slice of a larger pie:
Orca’s user numbers are truly impressive. The dashboard also contains a comparison with Uniswap on Ethereum, and shows that Orca has far more daily users.
For example, yesterday Uniswap had 12,050 users while Orca had 156,259. Orca also had almost 10x the transactions. Of course, Uniswap still dwarfs Orca in terms of TVL.
Will Orca maintain its lead in the Solana DEX market? Check out the dashboard for far more stats and decide for yourself.
$OP Airdrop, Imminent?
Optimism announced that they would be airdropping a token one month ago on April 26th.
Things went quiet, but over the past day some Twitter users have been noting activity on the official token contract, followed by speculation that the $OP drop may be imminent.
There’s no way of knowing anything until Optimism announce it, of course, but what we can do it take a look at @Marcov’s $OP dashboard for some clues.
There have been 7 claims, each for 1 $OP as the contract is tested out - 6 of those claims happened today and one yesterday.
In total, there have been 141 approvals, with 98 of those occurring today:
This is a highly anticipated airdrop, and it certainly looks like something is brewing.
Keep an eye on events yourself with @Marcov’s dashboard.
Stablecoin Market Overview
Stablecoins have been a hot topic in recent weeks, so let’s look at a new dashboard by @Marcov for a quick refresher on the market.
The total stablecoin supply grew rapidly from humble beginnings in 2020 to cross the $50 Billion mark by late April 2021. By late November 2021 this had doubled to hit $100 Billion.
Supply hit new highs in February and March this year, before dropping off over the past couple of months:
As overall supply grew, the composition of the stablecoin market changed.
Back in 2020, $USDT was the dominant force, capturing 70-80% of the market through the year. Things changed in 2021 with $USDC supply growing significantly along with $BUSD, $DAI and others.
The market is more diversified now with $USDT at around 33% behind $USDC at 40%.
$DAI, $BUSD and others have also established significant shares:
The top 3 - $USDC, $USDT and $BUSD - account for slightly less than 90% of the market.
Check out the full dashboard for more. If you’re particularly interested in Stablecoins - this dashboard by @hagaetc is the gold standard, and there was a great recent one by @no_available_data.
AI Nightbirds are Doing Numbers
Even with all the talk of the NFT market cooling off, some new projects are still generating serious buzz.
One of those is AI Nightbirds, following closely in the footsteps of the wonderful Moonbirds collection but with an AI twist.
Let’s investigate with a dashboard by @cryptuschrist.
After a lightning mint on Wednesday, the birds have done 22,806 sales and 4,739 $ETH in volume.
Just today alone, there has been more than 2,200 $ETH of volume and over 5.8k sales!
Hourly floor is at a modest 0.38 $ETH, but has steadily risen over the past couple of days:
The collection is hot, with a median of just 5 minutes on the market.
This dashboard has all kinds of interesting and detailed stats, if you’re intrigued by AI Nightbirds then check it out.
More Dashboards
GN
Thanks for reading - and as always an even bigger thanks to all the Wizards of the week for their amazing contributions and creations.
Have a great weekend and we’ll see you next week for more data, dashboards and Wizardry.
The data must flow……..