Project Overview

Construct a dashboard that displays the number of new contracts deployed and the total number of contracts deployed each week over the past several months. Your dashboard should also chart the development of stablecoins, including any supply trends.

The final product at the end of this series will be a comprehensive dashboard combining together multiple aspects of the Terra blockchain. We want this to be highly shareable with a focus on UI/UX-- so keep this in mind during the early stages!

Introduction

What Is Terra?

Terra is an open-source blockchain payment platform for an algorithmic stablecoin, which are cryptocurrencies that automatically track the price of currencies or other assets. The Terra blockchain enables users to instantly spend, save, trade, or exchange Terra stablecoins.

The Terra protocol creates stablecoins designed to consistently track the price of a fiat currency (a government-backed currency such as the U.S. dollar or euro). It consists of two cryptocurrency tokens—Terra and Luna.

KEY TAKEAWAYS

• Terra is an open-source blockchain protocol that underpins algorithmic stablecoins and a network of financial applications.
• Terra is one of the two main cryptocurrency tokens under this protocol, the other one being Luna.
• Terra stablecoins track the price of fiat currencies like the U.S. dollar and euro, while Luna is used for blockchain governance.
• The Terra protocol maintains the price of the Terra stablecoin by ensuring that the supply and demand for it are always balanced. This is achieved by using Luna as the variable counterweight to the Terra stablecoin. 1

Smart contracts

A smart contract is a contract whose terms are expressed as a computer program with logic and state persisted on the blockchain. Smart contracts can automatically carry out their terms and conditions with total transparency and no counter-party risk.

Smart contracts allow users to extend the capabilities of the Terra blockchain by introducing custom logic that can be composed against the Terra blockchain's financial primitives. These decentralized applications unlock new avenues of value-transfer through enabling unique transaction flows not provided by Terra's native modules.

Part 1 -Stats of Terra Smart Contracts deployment over time

✵ Findings

• According to the obtained results, so far in 2022, 1272 smart contracts have been deployed in the Terra network. The peak of this happened on June 22 with 63 contracts. From a monthly point of view, June has recorded the highest amount with more than 270 contracts.

• Astroport is in first place with over 29k users and about 60%. After that, Stader LunaX is the next most popular contract with 4.6K users or about 9.5%.

• In terms of the number of uses, Astroport is in the first place with about 70% and Terra Poker Token is in the second pladce with 6.5%.

• The slope of contract deployment in the Terra network is downward, and the number of new contracts introduced has decreased month by month.

• In terms of User retention, 1 Month is ranked first with 64.1%. means that, 64.1% of users, used Terra smart contracts just in 1 particular month.

• The latest 3 contracts deployed on Terra Network are EGA,Stader Token and Depegged UST.

part 2 - Stablecoin Flow

• General Flows

In this section, we will examine the general flow of two AXLUSDC and AXLUSDT tokens in the Terra network, regardless of its direction (inflow or outflow). In the following, a separate section is dedicated for each direction.

IN - Flows

OUT- Flows

✵Observations

• Irrespective of the fact that, in both directions, i.e., inflow and outflow, the AxlUSDC token had absolute dominance; upon further investigation, it is clear that more than 75% of the transaction volume in the AxlUSDC token was related to inflow . This amount in AxlUSDT token was almost equal to 50%.
• In terms of users (senders), more than 68% of the users in the AxlUSDC token was related to inflow . This amount in AxlUSDT token was almost equal to 86%.
• so

IN / Out Flow comparison

Conclusion

• in 2022, 1272 smart contracts have been deployed in the Terra network
• Astroport was the ost popular contract with over 29k users and about 60%.
• The slope of contract deployment in the Terra network is downward, and the number of new contracts introduced has decreased gradually.
• The latest 3 contracts deployed on Terra Network are EGA,Stader Token and Depegged UST.
• In terms of inflow, outflow and general view, the dominant stablecoin in Terra network was AxlUSDC.

✵Observations

• According to the obtained results, at first glance, it is clear that in terms of the total volume of transactions, regardless of the direction, as expected, AXLUDC has absolute dominance with more than 80% of the weekly transaction volume.
• In general, 83% of the transaction volume or $307.6M was related to this token.
• Overall, 87% of sending users or 18.4k were related to this token.

✵Observations

• According to the obtained results,it is clear that in terms of the total volume of inflow transactions, as expected, AXLUDC has absolute dominance with more than 70% of the weekly inflow transaction volume.
• In general, 70.5% of the transaction volume or $76.5M was related to this token.
• Overall, 93% of sending users or 4.1k were related to this token.

✵Observations

• According to the obtained results,it is clear that in terms of the total volume of outflow transactions, , as expected, AXLUDC has absolute dominance with more than 85% of the weekly inflow transaction volume.
• In general, 88% of the transaction volume or $231M was related to this token.
• Overall, 86% of sending users or 15k were related to this token.