Who Brings the Volume?Who Brings the Swaps?

Concentration by Swap Size

Largest Integrator is its share of the app fees paid on fee-tagged (token_diff) swaps, 30 chain days, 2026-10-14 to 2026-11-12. Solver columns: every public swap of the last 7 frozen days (2026-11-06 to 2026-11-12), USD per solver account read from each swap's NEAR transaction. HHI is the sum of squared shares: 10,000 means one solver has everything.Biggest App is the biggest app’s share of the app fees. Top 3 Traders is how much of the swapping the three biggest traders (solvers) filled. HHI is one score for how bunched up it is: higher means fewer players hold more. App fees: 30 chain days, 2026-10-14 to 2026-11-12. Traders: every public swap of the last 7 frozen days, 2026-11-06 to 2026-11-12.

Only fee-tagged (token_diff) swaps name a frontend and carry a visible app fee; they are 56% of the USD over these days, less since flow moved to the Confidential Intents treasury from 28 Oct. SwapKit accounts for 76% of the app fees seen; leaving out swaps with no frontend named, it is 79%. Swaps whose app fee is paid in a third token that cannot be valued ($145M of volume) are left out.Only one kind of swap shows which app sent it and what fee the app took. Those swaps are 56% of the money over these days, fewer since money started moving into the private system on 28 Oct. SwapKit brings 76% of the app fees seen; leaving out swaps with no app named, it is 79%. Swaps whose app fee we couldn’t read ($145M) are left out.

All sizes together, the top 3 solvers fill 85% of public USD over these days. Single days range from 72% to 94%, and leaving out any one day gives 84% to 86%, all over its 80% line. The Confidential Intents treasury 51e8f94d… is left out: it is a bridge to a private chain, not a solver. Counting fee-tagged swaps only, the top 3 fill 82%. The treasury carried 96% of USD over these days, so these are side figures that set no reading.All sizes together, the three biggest traders (solvers) fill 85% of the public money over these days. Single days range from 72% to 94%, and leaving out any one day gives 84% to 86%, all over its 80% line. The doorway into the private system (Treasury) is left out, because it only passes money through. Counting only the swaps that show an app fee, the three biggest fill 82%. Over these days 96% of the money went through the private system, so these figures are shown for interest and count toward no answer.