Unique Solana Programs

    Introduction

    The aim of this report is to analyze the different program activity during this last months when the market has crash.

    But prior to start, let’s set what is a program and its meaning on the Solana blockchain.

    Programs are what smart contracts are known as on Solana. An executable account is all that constitutes a program. A program can be read and used via instructions once it has been deployed on a chain.

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    Some metrics

    The first chart to check is the number of unique programs used per day since January 2022.

    On this graph we can check that since the market crashed, the number of different programs used has decreased. The trend has been to flatten that curve.

    • Methodology
      • Use of solana.core.fact_events table
      • Grouped distinct programs_id by date
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    This graph shows the most used programs per day:

    1. DEX
    2. Chadmin
    3. DEFI
    4. NFT
    5. DAPP
    6. LAYER 2
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    The trend suggest that:

    • DEXs are increasing their superiority over the other types
    • Chadmin is decreasing
    • NFT has decreased and it is almost insignificant
    • DEFI is irregular and volatile
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    In terms of sub_type, programs more used programs over time are:

    • General contract
    • Aggregator contract
    • Pool

    The trend suggest that:

    • General Contract has been the winner but with a weak period of time during the start of market crash on mid-May.
    • During that period, Aggregator Contract where the most used program
    • Contract Deployer has almost disappeared since the start of May
    • Pool has remain quite stable but the last weeks of June has decreased.

    Conclusions

    It does seem as during the bear market, the number of new programs have decreased. It may seem as a sign of weakness as the developers are not using new smart contracts on Solana network.

    However, the number of absolute programs used is still increasing, meaning that users do use programs even though we are on a bull market cycle.

    It would be interesting to check it with other chains to see the general trend.

    Hope this report has been interesting for the reader!