🚨STONfi's swap volume dropped 26% in a single month ••••••••••••••••••••••••••••••••••
Looking at STONfi's trailing 30-day numbers, youll see that the DEX volume is down 25.7%, but TVL is down only 5.1%, and fees fell just 2.2% in the same window The bigger part of this is that, If capital were genuinely leaving the protocol, you'd expect TVL and fees to fall roughly in line with volume, but it didn't.
What that combination usually means in practice is that LPs are staying put with the average daily volume still standing at $2.58M
and the pool is still turning over roughly 3x its TVL every 30 days which is actually crazy if you ask me.
The only difference between the statistics of trading within 2 months ago and now is that the frequency and size of trades has cooled off more than the underlying liquidity base has. That's a demand-side signal (fewer/smaller swaps), not a liquidity flight signal.
For an LP, that distinction changes the read entirely and here's how👇 A falling volume, stable TVL month reads as "quieter market, which is still the same liquidity risk but doesnt mean the protocol is declining. Theres currently a boosted Farm with reasonable APR on STONfi where you can multiply your rewards for simply staking STON and farming in the STON/USDT v2 pool which qualifies your farm rewards to get an APR multiplier with extra rewards paid in STON Stake 500+ STON → you'll get up to 1.5× farm APR Stake 1,000+ STON → you'll get up to 2× farm APR 🔗https://app.ston.fi/staking SOURCE ---> DeFilama
NFA, DYOR @ston_fi $STON
Looking at STONfi's trailing 30-day numbers, youll see that the DEX volume is down 25.7%, but TVL is down only 5.1%, and fees fell just 2.2% in the same window The bigger part of this is that, If capital were genuinely leaving the protocol, you'd expect TVL and fees to fall roughly in line with volume, but it didn't.
What that combination usually means in practice is that LPs are staying put with the average daily volume still standing at $2.58M
and the pool is still turning over roughly 3x its TVL every 30 days which is actually crazy if you ask me.
The only difference between the statistics of trading within 2 months ago and now is that the frequency and size of trades has cooled off more than the underlying liquidity base has. That's a demand-side signal (fewer/smaller swaps), not a liquidity flight signal.
For an LP, that distinction changes the read entirely and here's how👇 A falling volume, stable TVL month reads as "quieter market, which is still the same liquidity risk but doesnt mean the protocol is declining. Theres currently a boosted Farm with reasonable APR on STONfi where you can multiply your rewards for simply staking STON and farming in the STON/USDT v2 pool which qualifies your farm rewards to get an APR multiplier with extra rewards paid in STON Stake 500+ STON → you'll get up to 1.5× farm APR Stake 1,000+ STON → you'll get up to 2× farm APR 🔗https://app.ston.fi/staking SOURCE ---> DeFilama
NFA, DYOR @ston_fi $STON