Terra 2.0 (LUNA) cryptocurrency is the latest edition of the Terra blockchain. As a result of a hard fork initiated by Terra founder Do Kwon in May 2022 and voted on by the community, the Terra blockchain underwent a significant fork. A new cryptocurrency, LUNA, was created, called LUNA2, replacing Terra 2.0's original blockchain and coin LUNA Classic or LUNC. Despite their differences, both blockchains exist and are operated separately, which can confuse new investors.

A problem with Terra (UST), an algorithmic stablecoin, is that it is not linked to a stable asset like gold or the U.S. dollar. In some way, it was tied to LUNA, which is as explosive as any other cryptocurrency. After dropping from a high of roughly $116 to less than a penny, LUNA was finally delisted from crypto exchanges. As a result, the cryptocurrency market as a whole also suffered losses.

Do Kwon proposed creating a blockchain hard fork so that LUNA will be eternally de-pegged from UST. LUNA 2.0 was born on May 28, three days after Terra members voted in favor of the hard fork. As a result, the old coin has been renamed Luna Classic (LUNC).

LUNC holders received Terra LUNA tokens as an airdrop. \n

The active users here are considered to have activity at least 5 months after the Terra launcher.

In terra.core.fact_transactions, the tx_sender is the user, and the tx_id is the transactions.

To have a growth percentage of the number of active users and transactions made by active users, I used these two codes:

((January_tx-December_tx)/December_tx)*100 as Transactions_growth,
((January_user-December_user)/December_user)*100 as Users_growth

Compare chains:

Osmos: osmosis.core.fact_transactions

Atom: cosmos.core.fact_transactions

Axelar: axelar.core.fact_transactions

Active users

:key: Key Finding: :key: Since the new year, the highest number of new users and also the number of transactions made by these users was on January 15th.

Terra Overview

Before and after new Year ( December compared to January )

Active Users Activity before and after the new Year

:key: Key Finding: :key: The average number of active users after the new year (January) is more than before the new year (December).

The average number of active users before and after the new year has a little difference and close to each other.

:key: Key Finding: :key: The highest number of users both before and after the new year is active for only one day.

The total number of users who were active after the new year is more than before the new year. The total number of active users before the new year was 5484 and this number is 5693 on January.

Number of Active Days

Activity

:key: Key Finding: :key: In total the number of users who had transfer activity is the most. The total number of users who transfers their assets is ~74k. Also, the average number of transactions is the most on transfers activity, with 9.3.

The highest number of transactions was the most on January 15th. On this day, transfers is the first activity that users made with 4348, the number of swap transactions was in the second place with 1281 and staking in the third place with 757 transactions.

:key: Key Finding: :key: The number of users who had transfers transactions compared to others activities is the most. The total number of users who had transfers transactions from January 2nd to February 1st, is 7949.

Based on the number of transactions (Above chart), these 7949 users made ~74k transfers transactions.

Active users swap from and to Luna

Transactions count

Luna amount

:key: Key Finding: :key: The number of transactions from Luna both in December and January is more than the number of transactions to Luna.

The number of transactions from Luna after the new year compared to December raised about 2.5X.

:key: Key Finding: :key: The Luna amount of transactions from Luna in December and January is more than the to Luna transactions amount.

Instead, the average Luna amount of transactions to Luna is more than that from Luna. The average Luna amount of transactions from Luna before and after the new year is almost the same.

Transfer activity in December and January

:key: Key Finding: :key: The number of transactions that transfer Luna in the Terra network is more than the transfer out transactions.

:key: Key Finding: :key: The Luna amount of transfer in and out transactions has a minor difference, but in comparison, the Luna amount of transfer in transactions is more than the transfer out.

Compare active users between chains

Users count

Transactions count

In this section, the active users have activity at least 5 months after the Terra launcher and come back to Luna every month.

The average number of transactions per user was the most on January 6th. On this day, almost 6 transactions were made by every user. Also, the least number of transactions per user was on January 23rd, with 4 transactions per user.

The highest number of transactions was on January 15th. On this day, 14k transactions were made by active users.

:key: Key Finding: :key: The number of active users grew ~15% from December compared to January, and the number of transactions that made by active users grew by almost 24% from December compared to January.

:key: Key Finding: :key: The average number of transactions after the new year is higher than before. The difference between these 2 numbers is almost 1200.

The average number of transactions per user before and after the new year is close to each other, and it could be ignored.

Transactions count

Users count

:key: Key Finding: :key: In comparison to the active users between chains, Osmosis has the most total and average active users. The total and average number of active users on Osmosis in December is more than in January.

Compared to the active users between Atom, Axelar, Osmosis, and Terra, Terra is in third place after Osmosis and Atom.

:key: Key Finding: :key: The total and average number of transactions that made by users on Osmosis compared to other chains is the most.

The number of transactions by active users on Osmosis in January is more than in December, 2022.

Terra is in last place based on the number of transactions that made by active users.

There are many ways for projects to attract users, one of which is through airdrops.

In exchange for coins or tokens from wallet addresses, digital currency is distributed as part of an airdrop. Small amounts of brand-new virtual currency are distributed to blockchain community members for free or as a service. Crypto airdrops aim to spread awareness of newly released coins or tokens and increase their circulation.

The company's website, social media accounts, and cryptocurrency forums generally promote airdrops. There are only specific wallets that receive coins or tokens according to the blockchain network or existing wallets that hold coins.

Several users are attracted to the project due to the concept of airdrops and the opportunity to earn money without risk. It is necessary for users to be active in the network or to have a certain amount of tokens in their wallets before they can receive an airdrop. While the above conditions attract the user to the system, it should also be noted that users will likely leave the airdrop network once it is over unless the network is attractive enough for the user and the network itself remains active.

We can mention social networks, especially Twitter, as another way for networks to attract users. Moreover, we can consider advertising campaigns by media partners and famous people, such as NFT MAYC and the airdrop token APE. Famous people bought this project before its token was presented on the NFT market and became a trend in the crypto market.