Thorchain Skittles - what is it and how hard is it to set up?

LeoFinance
2 months ago
(edited)
5 Min Read
984 Words

Thorchain Skittles is a Google Sheets Script and Report setup for Liquidity Providers on Thorchain. It is a community built tool that can produce high level analytics of the performance of your assets in the pools.

The tool has been developed and pushed out to the community by MehowBrains - twitter link who has been producing various tools, mainly of an educational nature relating to Thorchain. The reference article that I am using to guide me through was posted by the thorchain community account on Medium, and can be found here

Google sheets, and these sorts of reporting functions are a week point of mine, so I'll not try to walk through a step by step guide to setting it up, I'll more so focus on my experience in doing so as this is way outside my comfort zone and playing with stuff I've never tried to understand before. The guide linked above is clear and sets out all the process in detail, re-doing it would be pointless.


Image credit: Thorchain community from this post

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The step by step guide:

As some one who has no skills in this area, beyond the most basic of knowlege to build simple excel sheets, I actually did not have any issues setting this up. The guide covers ever step of the way clearly, and in an easy to use manner. You will need a google account, and that's it basically. Just also make sure you have your wallet address handy, as you need to "cut-and-paste" it in. The whole process took probably 15 minutes to set up, from start to finish.

Once its running, my understanding is that the sheet automatically pulls data from your wallet, and captures that data. Once its running, there is nothing more you have to do. Just don't forget to bookmark your sheet, so you can find it again. I know it would be accessible somewhere in google sheets or drive or whatever, but I never use that stuff for anything else, so a bookmark is the go.

After a few hours, you can come back and look at some of the reports it can produce from the data collected.

Reports:

The linked document says that in the reporting tab, there are only 4 cells you can modify. Changing anything else on this sheet will break things. It also notes some limitations to using Google sheets this way:

This is Google Sheets, not some well-designed database and web tool. Filtering will take time. It can actually take up to 6 minutes to run the script (before Google Sheets actually kills the script and dies — yep that’s the limit).

So what can you do to speed it up? If you pick a large date range, you have a lot more data to process. If you pick a higher interval i.e. 12h, it’ll have to compute less data than if for example you’d like to see all your 1h interval data points for a large date range.

So now, i'll let it run and come back in a few hours to see what the reports look like...

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28 hours later...

I've come back to finish this post the next day, so I could pull up what the reports look like.

thorchain skittles charts.png

So as you can see, the inbuilt reports have the customization options in the top right corner. As more data is available, the APY figures in the top left will populate.

Some pretty colorful lines showing fee income, revenue, impermanent loss and an LP vs HODL comparison.

The data view of this look as follows.

thorchain skittles data.png

And the original raw info the sheet is pulling, to figure all that out looks like this:

thorchain skittles snapshots..png

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In Summary.

I thought this would be harder than it actually was. Following the steps in the original report makes this a fairly straight forward setup. The data that gets automatically collected would be a very powerful tool for someone with a big bag, or a serious professional investor. For the day to day, smaller player like myself, its possibly information overkill, but I guess too much data is better than not enough. I could imagine someone like @nealmcspadden loving the data collection and analysis this would offer, but then again power users could probably build this sort of system for themselves.

For me, it's really nice, and gives a great overview of whats happening with my small holdings, but its probably more info than I really need. I can definitely see the use for it, and the benefits it would offer bigger investors or more active investors looking for data driven decision making tools.

Going to tag a few people I know have an interest in thorchain that may find this useful:

@khaleelkazi - @nealmcspadden - @rollandthomas - @trumpman - @ash - @empoderat - @shanghaipreneur. There is a few of us now, I'd love to bring some of the Thorchain community over to join our ranks. Particularly Mehowbrains (twitter profile). I'd love to see him produce content on LeoFinance instead of only Twitter and Medium. Anyway, I digress...

Thanks for reading, I hope that if you are in RUNE/whatever pool that this community built tool and this review post is helpful. Remember, if you are not signed up for LeoFinance, it's real easy to get started now - simply visit https://leofinance.io/ and click "Get Started" in the top right. The Metamask sign up option is so easy, free and fast.

If you are looking for a great starting guide to Thorchain and RUNE, check this post:

Thanks for reading,

JK.

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