Introduction

In this dashboard, we first obtain the most used contracts on Osmosis by using the data in fact_swaps table, counting the number of transactions related to each contract, and then determine the number of contracts launched from May onwards. In the following, we will analyze the events that caused peaks in the chart.

In this dashboard, we mean the contract, the swap pools used on Osmosis. For this purpose, we have checked the ID of each pool, and the most popular ones are shown. According to the chart, the most used pool is related to the pool with ID 1 (swap uosmo to atom and vice versa), which has recorded nearly 226K transactions since May. In the second place is a pool with ID 608 (swap uosmo to LUM and vice versa) with 180K transactions and in third place is the pool with ID 6 (swap atom to DVPN and vice versa).

Analysis

The number of contracts launched since May is shown in the chart. As it is known, a peak started on May 7th and continued until May 16th, the same period when the price of LUNA fell sharply, and this Terra crash happened.

The highest number of contracts occurred on May 11, which is 5623. Due to the fear created for users during this time, the number of swaps on different networks increased significantly, and the Osmosis network was no exception.

The total number of contracts launched since May was about 69K.

In an unexpected incident, about 5 million dollars were misused from the Osmosis blockchain. The incident started when a Reddit user reported a major issue with Osmosis. At first, no one took it seriously. Some users decided to try it, and some took advantage of this problem. Those who tested this found that every time they added liquidity to an on-chain pool and withdrew their liquidity, they received 50% more of their holdings.

Osmosis has temporarily frozen the chain for 48 hours following a liquidity pool abuse that resulted in a loss of $5 million. The Osmosis team made the necessary announcements through its Twitter page, and on July 12, the Osmosis Twitter account announced that it will restart the chain at 16:00 UTC.

As mentioned above, between May 7 and May 16, Terra suffered a crash, resulting in many users trying to swap their assets, especially LUNA and UST. Also, in this period, Bitcoin was in a downward channel, which was one of the reasons for Terra's crash. So, it can be said that the high number of contracts used during this time was related to the crash of Terra and the fall in the price of Bitcoin. On June 13, we also see a peak in the chart. As mentioned, the network was frozen a few days before and then restarted, which could be one of the reasons for creating this peak. But compared to Bitcoin's price, the market was bearish, users have also had the desire to swap their assets, and the number of contracts has increased.

In the cryptocurrency market, the bullishness or bearishness of the market is considered based on the price of Bitcoin. Also, when the market is bullish or bearish, the number and amount of swaps increases. Therefore, you can check the trends in the chart of the number of contracts next to the Bitcoin price.

Conclusion

• The most three popular contracts on Osmosis since May are:
  • [1]: swap uosmo to atom and vice versa
  • [608]: swap uosmo to LUM and vice versa
  • [6]: swap atom to DVPN and vice versa
• Two important events have happened in the investigated time, which caused peaks in the chart. These two events are:
  • Terra crash
  • Restarting the network
• The total number of contracts launched on Osmosis since May is 69.2K.