Books · AERO · ZEC · NEAR

Is it still expanding?

Three books. A book is the on-chain condition an agent reads before it holds. Expansion is a later window against an earlier one. One window does not establish growth. Strong growth is not a label this page publishes.

Aerodrome

Expanding

4.9842×

From 2025-11 to 2026-10 the monthly median fell from 3.5782× to 3.1346×. Fees caught up with emissions.

2025-11 3.5782× 2026-10 3.1346×

Each point is the median emissions-per-fee across pools that month. A lower ratio is expanding: fees caught up. A higher ratio is cooling: emissions pulled further ahead. Pool size is not a weight.

Incentive efficiency →

4.9842×. Below 1× 28.88% · 1× to 5× 21.29% · 5× or more 49.81%. As of 2026-10-06T16:41:52.390Z.

Emission mix →

6.4046×. Stable 0.8775× · routed 4.3729× · volatile 5.6201×. As of 2026-10-06T16:41:52.390Z.

Zcash

Mixed

1.75%

Shielded activity rose from 1.35% to 1.75%. Net flow into the pool cooled from 0.89% to 0.18%. The activity series and the direction series disagree.

2025-11 0.0000 2026-10 0.0000

Shielded share of sampled activity, month by month, read beside the change in net flow into the pool. Expansion needs both series up. One up and one down is mixed.

Shielded activity →

1.75%. Prior window 1.35%. Trend 0.39%. As of 2026-10-06T16:42:01.556Z.

Shield direction →

0.18%. Into the pool 1.32%. Out of the pool 1.13%. Prior net 0.89%. As of 2026-10-08T10:50:02.000Z.

NEAR

Not established

53.20%

Median inflow is 53.20%. Stable 65.07% · other 49.62%. From 2025-11 to 2026-09 that gap went from −58.54% to −17.21%.

2025-11 -0.5854 2026-09 -0.1721

Each point is one page of intents events opened at that month. The line is the stable median inflow minus the other-asset median. A wider gap is not, by itself, the chain growing, so the badge stays not established.

Flow composition →

53.20%. Contracts whose flow is entirely one way 20.00%. As of 2026-09-30T00:32:45.000Z.

Stable versus other →

15.45%. Stable 65.07% · other 49.62%. As of 2026-09-30T00:32:45.000Z.

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