Elixir Shows Rapid Growth: Active Users Up 21% MoM, Capturing 40% of All DeFi Order Book Liquidity
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Elixir Shows Rapid Growth: Active Users Up 21% MoM, Capturing 40% of All DeFi Order Book Liquidity
"Elixir Network has become an influential force in the order book trading space."
Navigating Web3 tides with focused insightsAuthor: Elixir
Translation: TechFlow
This article aims to provide data related to the Elixir network since its trusted mainnet launch, including key statistics such as users, TVL, the percentage of order book liquidity supported by real-time native integrations, and the share of aggregated order book liquidity controlled by the Elixir network.
The Elixir network has emerged as a significant force in the order book trading space. This article provides a data-driven view of the network's growth across multiple metrics: user growth, total liquidity, order book integration efficiency, and its relative market share of order book liquidity provided across exchanges.
User Growth
A fundamental indicator of any network's adoption and health is its user base. Since the end of the first month following Elixir’s native integration into Vertex, the number of active Elixir users has grown 21% month-over-month. Less than two months after launching Apothecary, there are currently 101,553 unique potion holders as of this writing.
Total Value Provided via Elixir
Liquidity is the lifeblood of order book exchanges, and since the launch of its trusted mainnet, Elixir has demonstrated significant growth. Total deposited liquidity into Elixir stands at approximately $200 million. This substantial capital—especially relative to existing decentralized order book exchange liquidity—enables the network to bring massive liquidity to order book DEXs, bringing them closer to centralized exchange efficiency.
Proportion of Order Book Liquidity Supplied
Elixir multiplies order liquidity for exchanges on natively integrated networks. Every exchange that has launched a native front-end feature powered by Elixir has seen its liquidity more than double. Currently, Elixir supports 66% of Bluefin’s total order book liquidity, and 56% and 52% of Vertex and RabbitX respectively. This metric highlights Elixir’s critical role in boosting liquidity for partner exchanges.
The chart below shows the capital efficiency of the Elixir network in quoting multiple token pairs on Vertex:
Share of Order Book Liquidity Across All DeFi Exchanges
When factoring in elxETH liquidity, Elixir will account for around 40% of total order book liquidity across all DeFi order book exchanges. These elxETH deposits will be transferred across all natively integrated exchanges upon mainnet launch (currently not actively utilized). These exchanges include names such as dYdX, Orderly, Hyperliquid, and others.
More information and updates will follow to increase transparency around network development. In the meantime, we encourage users to track network statistics on the “Network” and “Explore” pages of our website.
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