Question:

Show the landscape of wallets on Flow right now, like Dapper, Blocto, lilico, etc.

Display metrics such as: overall number of users, comparison of NFTs traded by wallet, market share dominance, etc. What are active wallets doing more broadly? Help us get a current understanding of the expanding ecosystem of Flow wallets

Overview of analysis:

This analysis contains three major part:

• General usage of wallets on Flow
• Attraction of newcomers by various wallets
• Application of various wallets on NFT purchase

About Flow and various wallets:

Flow was developed by Dapper Labs, which aims to solve the congestion problem of blockchain for games and interactive applications. Depper now uses Flow for all of his projects, such as NBA Top Shot Flow uses a Proof-of-Stake (POS) consensus algorithm, which requires validators or approvers of transactions to stake a certain number of FLOW tokens in order to participate in the network.

Another thing that makes the Flow Dapper protocol unique is the use of a new cryptographic technique called "Secret Proof of Expert Knowledge (SPoCKs)". This technique was developed by Team Flow. SPoCKs allow any number of provers to prove to intermediate observers that they have access to the same secret knowledge.

> Flow Wallets are applications that give access to your Flow accounts, allow you to send and receive funds, and enable you to interact with Flow applications. > > There are different Flow wallets you can choose from. They all serve the same purpose, but each one takes a different approach, supports different features, and makes different tradeoffs. > > from developers.flow.com

Methodology:

The data provided by Flipside has been used to handle this analysis.

This following parts used to handle this investigation:

• Identification of various wallets→

  Use flow.core.fact_transactions and join flow.core.fact_events

  where EVENT_TYPE='TokensWithdrawn'

• Used metrics→

  • Number of transactions and cumulative analysis

  • Distinct users and grow rate of them

  • Average transaction per user for various wallets

    
    
    Two parameters have been used to set the time period and basis of this analysis. By the use of these parameters you can find out the over time stats.

Part 1: General and over time analysis on various wallets:

Findings:

• As can be seen, the highest share of transactions belong to Dapper about half of the transactions all time.
• The JoyRide has the largest group of unique users.
• The JoyRide has the highest transaction per day by about 240k transactions.
• Over 4700 unique users used JoyRide wallets averagely per day.

Part 2: Attraction of new users by various wallets:

Findings:

The time base analysis in the daily basis and for the past 90 days shown in this part and the results are concluded as below:

• In the past 3 months, the domination of JoyRide is considerably high and the second rank belong to Dapper wallets.
• The cumulative analysis related to the distinct users of each wallet shown that after Dapper and Joyride, the Monsoon stands in the second rank.
• On the second week of August 2022, the ChainMonsters has huge transaction per user among wallets.

Part 3: Application of various wallets on NFT purchase:

Conclusion:

• The Dapper wallet has been dominated the various wallets on Flow ecosystem.
• Recently, the JoyRide wallet attracted the highest share of new users on Flow.
• The Dapper has highest application for NFT purchase on Flow by far.

Findings:

• From the attraction of new users on Flow, the JoyRide and Dapper have better performance than other wallets in the past 90 days.
• The overall count of new users on Flow decreased in the past 90 days but started to follow the increasing pattern since second week of October, 2022.
• The Monsoon wallets attracted remarkable count of new users in the past 90 days and stands in the third rank most used wallets.

Useful links:

• Flow blockchain
• Wallets on Flow
• GitHub doc on wallets

Findings:

• The overtime analysis in the daily basis and for the 90 days demonstrated the dominance of Dapper wallets for NFT purchase on Flow.
• The main reason of Dapper domination on NFT purchase is because of NBA TopShot NFTs and their domination on Flow NFT ecosystem.
• After Dapper, the Blocto and Cricket moments have very close numbers in the cumulative analysis.
• In some dates, the Fantastic wallet has highest average buy per purchasers like October 20 with 7 buy per purchaser.

Findings:

• As expected, the Dapper wallet has been dominated the NFT purchase on Flow from every aspects.
• After Dapper wallet, the Cricket Moments has the highest average NFT purchase per day among other wallets.
• But from the total purchasers point of view, the Blocto has the most purchases count after Dapper wallet.

Author:

Credited by MZG

Discord handle: m.zamani#0361

Twitter handle: @GargariZamani