Q2 High-Risk Dapps Ecosystem Report

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TRON accounts for 94% of daily activity in the High-Risk category across all protocols.

DappRadar has shown a High-Risk dapps category since early inception. There are over 900 dapps listed on DappRadar within the High-Risk category which makes it the 2nd most popular category after Gambling.

Fundamentally High-Risk dapps are high-yield investment programs that promise a high return on investments, but usually, these are not sustainable. High returns are not the only feature applicable to the category. Usually, such dapps are not transparent with the level of risk or the at informing users of the dapp they are making a token investment.

We recently spotted an increase in the number of High-Risk dapps being listed in July 2020 and reported that volumes exceeded $280 million. Now we see that the transaction volume of the High-Risk category has exceeded $300 million in August 2020. This is an all-time high.

This content is written for research and distribution purposes only. We aim to review the current trends and data in the High-Risk dapps category.

Key takeaways

  • The growth of High-Risk is majorly due to new dapps on the TRON protocol.
  • High Ethereum gas prices have affected the daily activity of the High-Risk category on Ethereum as it dropped by 65% 
  • TRON accounts for 94% of daily activity in the high-risk category across all protocols. 
  • Daily activity across all TRON High-Risk dapps surpassed 100,000 active wallets in August 2020. Driven by Bank of TRON and 200TRON.
  • TRON’s transaction volume surpassed $130 million in August 2020.
  • HEX and Forsage account 84% of the total value across all Ethereum High-Risk dapps.
  • EOS’s High-Risk dapps showed solid momentum back in 2019. Very little activity is being recorded in 2020.


Daily wallet activity declined by 65%

Ethereum is still one of the most powerful protocols in the blockchain world. We’ve seen year-on-year growth in almost all dapp categories. The High-Risk category is not an exception. 

In July 2020 the category witnessed a tremendous increase in daily active wallets with 24, 949 this was driven by one dapp called Lion’s Share. However, by the end of August 2020 daily activity decreased by 65% compared to July 2020.

Transaction volume accounts for 55% of the total volume

In Q2 2020, the transaction volume surpassed $270 million which was mainly driven by HEX. Surprisingly, the transaction volume of July and August 2020 combined equals $343 million which is 26% higher than all of Q2 2020. 

The transaction volume for July and August has made the category strong and created a benchmark for future growth. The dapps making this possible are HEX and Forsage. Generating $157 million and $130 million respectively in total which makes them accountable for 84% of total value across all Ethereum High-Risk dapps.


Daily wallet activity rose by 83% in August

While Gambling has always accounted for the biggest category on TRON, High-Risk has now taken over that position. The daily active wallets reached an all-time high in August by surpassing 100,000 active wallets. 

The dapps behind such tremendous growth were Tron Supernode and TRONCHAIN. These two dapps generated around 10,000 and 6,000 daily active wallets respectively in August.


Transaction volume surpassed $130 million 

In Q2 2020 increased its value to $11 million from Q1 2020 value i.e, $672,231. The category itself has witnessed remarkable growth since June 2020. 

As of today transaction volumes have grown more than $110 million and surpassed $130 million in August. Bank of TRON and 200TRON made their mark in the category. Generating $49 and $35 million respectively.



Daily activity declines quarter-on-quarter

The EOS protocol didn’t witness the same positive trends as Ethereum and TRON. The protocols dapps already showed momentum back in 2019 but very little activity is being recorded in 2020. 

By the end of Q2 2020, the daily active wallets were 44 which is better than Q1 2020 with 16 wallets. As previously mentioned the only dapp generating activity in this category is sovdex.io.


Transaction volume declines dramatically in 2020

Transaction volumes have declined completely in Q2 2020 compared to Q1 2020. In July 2020 the category witnessed a small rise in volume and this was purely generated by the only dapp which influenced activity i.e, sovdex.io.

This is because they listed EOS/pBTC for trading without custodial risk. The small rise didn’t help the category grow and it’s evident that EOS will not return to the glory days of 2019 any time soon.



Ethereum is still a leading protocol for the High-Risk category in terms of transaction volume. 

Q2 2020 was called the “Second Season for High-Risk”, it continues its saga in July and August as well. While the biggest driver is the dapps operating on the TRON network.

TRON shows impressive figures in August due to a couple of new High-Risk dapps being launched.

As ever – and particularly in this case. DappRadar reminds users never to invest more value into dapps than they can afford to lose.

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