Question:

With the launch of Flipside's new Balances table, let's take a look at how the story of Osmosis can be told through wallet balances. Provide insights into following metrics:

• How has the ratio of liquid to staked OSMO changed overtime?
• Are the top 100 OSMO holders the same now as they were at the start of the year?
• What is the current average OSMO per wallet? How has that value changed over time? Plot average OSMO/wallet against user growth.
• Do wallets normally hold a majority of OSMO, or another token? How has this changed over time?

Methodology:

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

In this analysis, the following topics have been covered:

• Balance of wallets→ from osmosis.core.fact_daily_balances
• Osmosis per wallet→ Total held OSMO/Total holders
• Balance type on wallets→ liquid and staked
• Top OSMO holders over time→ Find out by ordering holders with held OSMO
• Share of OSMO among wallets→ when currency='uosmo' then 'OSMO token' else 'Other tokens'
• Other metrics→
  • Median of held OSMO
  • Cumulative held OSMO
  • 7-day moving average held OSMO

About Osmosis:

Osmosis is an advanced Automated Marketer Protocol (AMM) that allows developers to build custom AMMs with robust liquidity pools. Osmosis is built using the Cosmos SDK and uses the Inter-Blockchain Communication (IBC) feature to enable cross-chain transactions. The Cosmes ecosystem follows the "Blockchain as Decentralized Program" architecture; This means that Osmosis is a blockchain connected to Cosmes Hub, which is also a decentralized exchange.

Osmosis, with the help of IBC, connects to the entire ecosystem of Cosmos chains and their more than 10 billion dollars of native assets. After supporting active blockchains on the Cosmos hub, the project aims to connect to other chains such as Ethereum and Bitcoin.

Osmosis allows users to create liquidity pools with unique parameters. For example, as you know, two tokens with an equal ratio should be added in normal liquidity pools; But in this project, pools with multiple ratios can be created. Osmosis rewards structure is also compatible with these capabilities.

Part 1: OSMO held by balance type

Findings:

• About 70% of OSMO holders has liquid balance type with over 407k unique holders.
• About 255k holders hold their OSMO as staked balance type.
• The Average held OSMO for liquid type is about 1020 tokens.
• The median of held OSMO for staked type is about 9 tokens.

Part 2: Current stats of OSMO holding

Findings:

• Currently, the amount of held OSMO is about 520 million token and these tokens held by 407k unique wallets.
• Now, the average held OSMO per wallets is 1276 tokens.
• The average held OSMO per wallets has been decreased over time as can be seen.
• Also, the OSMO per wallets by users growth (count of holders) demonstrated that by increasing the number of unique OSMO holders, the OSMO per wallets index has been reduced.

Part 3: Top OSMO holders over time

Findings:

Now lets see the top OSMO holders in the January first and compare it with recent days.

• The top three OSMO holders increased their tokens since start of 2022.
• From the analysis related to the top100 OSMO holders, it can be seen that about 38 of them remain in the top100 and 62 of them are out of top100 currently.
• Among top 10 OSMO holders and their behavior over time, it can be seen that three of them sold huge part of their OSMO specially after May 2022.

Part 4: Share of OSMO on wallets

Findings:

The aim of this part is to evaluate the share of OSMO tokens on wallets and track its change over time. For this purpose, the USD value of held tokens has been determined and by the use of that share of OSMO obtained.

• Currently, about 2.35% of tokens held on wallets are OSMO and rest of them are other tokens.
• The share of OSMO token on wallet of holders change over time and as can be seen, the share of OSMO reduced on wallets over time.
• In the first days of 2022, share of OSMO tokens on wallet of holders was over 90% but recently it drops to below 3% of their assets.
• Other tokens held by users are shown in the below charts and the INJ token has dominated the USD value of held token between wallets.
• The next ranks are for OSMO and ATOM which held most by users currently.

Conclusion:

• Most of the users held their OSMO on liquid type.
• The OSMO per wallet reduced due to the increment on number of holders.
• Share of OSMO on wallets of holders decreased compare to the first days of 2022.

Useful links:

• Osmosis network
• OSMO token and its applications

Findings:

• Daily OSMO balance by various balance type reveals the domination of liquid over other types specially since start of 2022.
• The average held OSMO by various balance types has been decreased over time and the main reason of that is because of increasing the number of holders.
• After May 2022, the 7-day moving average held OSMO as liquid enhanced dramatically as can be seen and users use their OSMO to provide liquidity on pools.
• The ratio of liquid type to stake OSMO over time changed in different patterns but the overall view shown the enhance of this ratio which means more OSMO tokens used for liquid over stake.
• After October 10, the ratio of liquid OSMO to staked increased sharply.
• The ratio of liquid holders to stake holders has been decreased over time as can be seen and that means wallets with more OSMO token provide liquidity instead of stake.

Author:

Credited by MZG

Discord handle: m.zamani#0361

Twitter handle: @GargariZamani