Question:

The announcement of Station has generated hype in the Terra community. Has this type translated to an increase in activity?

Define and visualize at least 2 metrics for ecosystem activity and analyze them in the week before and after the Station. Did the launch have any measurable impact? Are there other factors that might be in play affecting the metrics you’ve chosen?

Overview of analysis:

The announcement related to the Terra station happened on January 14, 2023. The activity through Terra blockchain has been investigated before and after announcement. Lets deep dive into the sections and used metrics as below:

• Performance of Terra network
• Contracts and stake action on Terra
• Trade analysis

About Terra:

After the sudden and horrific collapse of the Terra network, many investors are worried about the future of the stablecoin Terra and the Luna Classic blockchain. Although Terra Network was completely destroyed, the founders quickly launched a new version called Terra 2.0.

Terra 2.0 is the new version of Terra Classic blockchain. This version relaunches Luna cryptocurrency. In fact, the new Luna coins replace the old ones. Terra 2.0 is completely different from the old Terra platform, now known as Terra Classic. Now that the network is up and running, the new Terra will be officially released under the original brand. The main difference between these two networks is that it will not be supported by Terraform Labs or Do Kwan (the founder of Terra Classic). This means Terra 2.0 is fully community controlled.

The technical name of this chain is Phoenix-1 and the name of its test network is pisco-1. The previous network will continue to work with a new name; This network will be called Terra Classic chain and all its tokens will have the classic extension. Therefore, Luna will be called Luna Classic or LUNC, and Dollar Tera and other stablecoins of this network will have the suffix C added to their tokens (USTC, KRTC, EUTC, etc.). Some centralized exchanges that have listed the new network and its tokens have used the name LUNA 2 for the new network token and LUNA for the older network currency.

Methodology:

• The data provided by Flipside has been used to handle this analysis. To handle this investigation the following steps have been passed as below:

• Step 1: Transactions

  • Used table→ terra.core.fact_transactions
  • Metrics: Count of transactions, Price of LUNA, Created blocks, paid fee in LUNA

• Step 2: Wallets

  • Major aspects→ active wallets, New users

• Step 3: Contracts

  How to find contracts→ tx:body:messages[0]:contract from terra.core.fact_transactions

  Metrics→

  • Weekly count of new contracts
  • Application of contracts by count of transactions and users

• Step 4: Staking

  • Used table for stake actions→ from terra.core.ez_staking

• Step 5: Trade

  • Swap and swapper count, volume, popular swap paths

• Step 6: By aggregating the outcomes of the steps and deep dive into the all parts of this live dashboard, draw a conclusion about how activity of Terra blockchain before and after announcement.

Part 1: Performance of Terra network

Part 3: Trade analysis

Part 2: Contracts and stake action on Terra

Findings:

First of all lets look at the performance of Terra network before and after announcement:

• The count of transactions on Terra network has been increased after announcement related to the station.
• Also, the count of created blocks on Terra enhanced after announcement compared to other days
• Daily total paid fee has been increased due to the enhancing the count of transactions accordingly.
• The native token of network (LUNA) experienced increasing trend after station announcement as can be seen
• According to the investigation, the count of active wallets and newcomers have been enhanced by station announcement and their highest value occurred on January 15, 2023.

Findings:

This sections presents the contract deployment on Terra blockchain and also the staking of LUNA. The outcomes are as below:

• The daily usage of contracts on Terra blockchain reveals the increasing pattern of application of contracts on ecosystem after announcement related to station.
• The highest usage of Terra contracts in the selected time frame happened on January 15, the day after announcement as can be seen.
• The delegation of LUNA token has been increased after announcement by considering the count and volume of delegation. The highest volume and count of delegation by LUNA occurred on January 15th.
• The staking reward on Terra network has been claimed more before station announcement. Also, the highest volume of staking reward has been claimed on January 10th (before announcement).

Findings:

In this part, look on the trade activity of LUNA before and after announcement and the outcomes are listed as below:

• According to the daily analysis, the count of unique swappers and swaps on Terra network have been enhanced after announcement related to station.
• Also, the behavior of users on Terra ecosystem on buying and selling LUNA has been investigated.
• As can be seen, people bought LUNA token more before announcement and the highest volume of buying LUNA occurred on January 11.
• Therefore, the sale activity of LUNA has been enhanced after station announcement because the price of LUNA increasing as a result of this announcement.
• Finally, look on the trade activity of stable coins on Terra ecosystem and according to the outcomes, the volume of trade by stable coins has been increased considerably after announcement of station.

Conclusion:

It is mentioned in the question that the announcement related to the Terra station change activity of Terra network. The purpose of this research is to estimate the impact of this announcement on the performance of Terra network from different aspects. In this research, the Terra network has been evaluated from various aspects, and according to the results obtained, the following conclusion can be reached:

• The application of Terra network has increased after announcement, which can be clearly seen from the performance of this network.
• The amount of investment in the form of stake the Terra network has increased, and this can be considered as a sign of the increased trust of users in this network.
• The announcement of the station program, as well as additional explanations about it, have attracted the attention of Terra network users. Therefore, actions like this can be very useful in order to develop and expand the use of Terra network and gain popularity among users.

Useful links:

• Terra networks
• Announcement of station
• Medium article about announcement

Author:

Credited by MZG

Discord handle: m.zamani#0361

Twitter handle: @GargariZamani