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DEFITUNA

Orca vs. Fusion

Cumulative revenue comparison between Orca Whirlpools and DefiTuna's Fusion AMM. Includes a Fusion Dominance (%) overlay on a secondary axis to show each ecosystem's relative share over time.

Data​

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Top Transactions Table​

The table displays individual transactions contributing to treasury revenue. By default, it shows Orca transactions, sorted by SOL amount.

Protocol Filter: Use the toggle to switch between Orca and Fusion transactions.

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Use Cases​

This page helps you:

  • Compare ecosystem performance: Determine which DEX (Orca or Fusion) has generated more cumulative revenue since protocol revenue sharing is enabled
  • Assess concentration risk: Evaluate whether the treasury is mainly driven by one DEX
  • Analyze growth trajectories: Identify when each ecosystem's contribution rate accelerated or slowed
  • Evaluate diversification: Assess balance between established (Orca) and native (Fusion) pools
  • Identify inflection points: Detect when pool preferences or strategies shifted

How to Read This Chart​

Click to expand chart reading guide

Cumulative Stacked Area Chart:

  • X-axis: Date (chronological from protocol start)
  • Y-axis: Cumulative revenue in SOL (running total since revenue sharing is enabled)
  • Stacked Areas: Each colored area represents accumulated revenue from Orca and Fusion ecosystems
  • Secondary Y-axis (right): Fusion Dominance (%) as a dashed orange line, showing Fusion's share of displayed AMM cumulative revenue (Fusion / (Orca + Fusion)) over time (can be toggled on/off via legend click)
  • Total Height: The top edge shows total cumulative revenue across both ecosystems

Key Comparison Metrics:

  • Total Contribution: Which ecosystem has generated more cumulative revenue? (compare area sizes)
  • Growth Trajectory: Which ecosystem is growing faster? Steeper slopes = faster revenue accumulation, flatter slopes = slower or stable growth
  • Inflection Points: When did each ecosystem's contribution rate change? (look for slope changes)
  • Relative Performance: How does Orca revenue compare to Fusion at any point in time? (compare vertical distances)

Ecosystem Characteristics:

Orca Whirlpools:

  • Established concentrated liquidity DEX on Solana
  • Wide token support with many trading pairs
  • Revenue from swap fees on liquidity positions
  • Mature infrastructure with deep liquidity

DefiTuna Fusion AMM:

  • DefiTuna's native automated market maker
  • Custom pools designed for DefiTuna's specific strategies
  • Direct integration with DefiTuna treasury
  • Strategic control over pool parameters

Interactive Features:

  • Hover: Unified tooltip shows all series (Orca, Fusion, Fusion Dominance) at any date
  • Legend: Click legend items to show/hide individual series
  • Protocol Toggle: Use the table filter to view transactions by ecosystem

Methodology​

Click to expand technical details

Data Sources

  • Treasury transactions: On-chain data from DefiTuna treasury PDA (G9XfJoY81n8A9bZKaJFhJYomRrcvFkuJ22em2g8rZuCh)
  • Pool attribution: Multi-source matching system (registry + auto labels) reconciled against the revenue totals described in Data Quality; flows without confident matches remain in "Other" until labeled
  • Ecosystem classification: Pools categorized as Orca Whirlpools, Fusion AMM, or Other

Cumulative Revenue Calculation

Cumulative revenue is calculated by:

  • Starting point: Protocol's first treasury transaction
  • Daily aggregation: Each day's realized revenue is summed
  • Running total: Each day's revenue is added to the cumulative total
  • Category separation: Separate cumulative totals maintained for each pool ecosystem
  • Stacking: Totals stacked to show both composition and total growth

Why Cumulative View?

The cumulative chart differs from daily charts by showing:

  • Total accumulated value rather than daily fluctuations
  • Long-term trends more clearly (noise is smoothed out)
  • Relative contributions over the entire protocol lifetime
  • Growth trajectory changes as slope changes in the cumulative line

Ecosystem Attribution

Each transaction's revenue type label is classified into an ecosystem:

  • Orca Whirlpools: Labels containing "orca" or "whirlpool", plus legacy types (openpositionwithliquidity, compound_fees_tuna, liquidity_add_tuna) that predate the tuna_*orca naming convention
  • Fusion AMM: Labels containing "fusion" or the collect_protocol_fees type
  • Pre-Fusion transfers: Early token_transfer revenue attributed to Orca (all pre-Fusion era revenue was Orca-based)

Residual labels (staking operations, protocol-neutral spot opens) and tiny uncategorized amounts (other_sol) are excluded from this Orca/Fusion comparison to keep the chart focused on AMM ecosystem revenue.

Growth Metrics

Key metrics derivable from this chart:

  • Total Revenue: Final value (rightmost point on chart)
  • Average Daily Revenue: Total Revenue / Number of Days
  • Growth Rate: Compare slopes between different time periods
  • Ecosystem Contribution: Height of each area shows its cumulative share

Relationship to Other Views

This cumulative comparison complements:

  • By Pool: Shows individual pool breakdowns without time dimension
  • By Type: Shows daily revenue patterns instead of cumulative totals
  • Pools vs. Types: Shows pool-type combinations without ecosystem grouping

Update Frequency

Data is automatically updated once per day. Check the "Last updated" timestamp in the site header for data freshness.

Known Limitations

  • Cumulative view doesn't show daily volatility (spikes averaged into slope)
  • Ecosystem classification depends on pool registry accuracy
  • Does not account for liquidity deployed or capital efficiency (only absolute revenue)