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Alchemix Rewards Claiming Analysis
Updated automatically every 5 minutes

Introduction

Thank you to @flipsidecrypto for the opportunity to capture this bounty. In this article, we are investigating the claim rates of ALCX rewards when grouped by hour, to better understand when users are collecting their yield throughout the day. First, we used Flipside’s Velocity tool to gather data of hourly claims per Alchemix’s different farming pools, and then we aggregated data of all 4 pools into one to investigate the entire picture.

Put together by @ryanl and @MonetCapital

Pulling Data From Flipside

(https://velocity-app.flipsidecrypto.com/velocity/visuals/942f85e0-8bd5-4ced-bd20-a5185f08a40d/5ba0a326-18f2-4bb4-ba67-e2096c500118)

When a reader hovers over the visual, they can see both the total dollar amount of ALCX claimed and number of users within the specific hour.

We also built similar graphs but for rewards that were claimed from the alUSD/alUSD3CRV pools (combined) and the SLP ETH-ALCX pool.

(https://velocity-app.flipsidecrypto.com/velocity/visuals/ef69139f-96fa-4d04-9ac9-fa08060fd161/22e5a54f-45bf-4713-9586-e97750789e64) 

(https://velocity-app.flipsidecrypto.com/velocity/visuals/5af08b8e-4a09-4fad-8e4c-78519543a52e/909bc830-9ab0-4c30-b407-d006ded5b0c1) 

Using Python to Aggregate the Data - User Counts

While investigating the different charts, one interesting thing we saw was that in the alUSD/3CRV pools, the average user interaction was much more distinct and consistent. The data suggests that a group of particular users are claiming rewards at the same time every single day - perhaps a large fund is farming through various accounts.

In contrast, the hourly user interactions on the other charts are a bit more sporadic. For both the LP and the ALCX pool, very early, and late at night (UTC Time) seems to be the most popular time for claiming.

Reward Amount Claimed

In terms of actual amount claimed, we saw in the LP pool that mid-afternoon/early evening was the most popular time.

In the alUSD/3CRV pool, early morning seemed to be the hours with the most amount of rewards being claimed.

In the ALCX pool, mid-evening saw the most amount of rewards claimed, while midnight was also a significant time where whales were claiming.

We decided to group all of the data together to get an overall view of the rewards claiming amount and timing. The average user engagement is highest at 5PM UTC largely due to the anomaly in the alUSD/alUSD3CRV pools, while the amount of rewards claimed seems to be highest in the early morning and evening. It is very quiet from 6AM to 2PM, both in terms of amount claimed and average number of users, presumably because farmers are busy with their daily lives, and because most farmers live in North America.