Gyroscope Stress Test II Analysis

    Gyroscope is a new stablecoin design that, like a physical gyroscope, remains stable as the surrounding environment changes. This protocol has recently conducted a series of stress tests to test its defense system. The second stress test of the gyroscope protocol was performed on March 7 between 10:30 and 11:30 UTC. In this test, users had to redeem their p-GYDs at announced destinations within the specified time period. In this dashboard, we will take a closer look at this test and review its impact on the protocol (gyroscope defense line).

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    As you can see, there are about 2820 founding members. These users have minted their NFTs before the test. This nft was given to early users before passed several anti-sybil tests. After this introduction, we will turn to the detailed study of whole protocol.

    Overall, about 87.5 percent of all transactions were successful; on the other hand, there are more than 12 percent of failed transactions.

    The first transaction of gyroscope proto version was on 2022-12-12 but the high volume of transactions started on January 24th (when the proto version was officially launched). There are two picks in the transaction count, and both were on stress test days (Feb 10th, Mar 7th). So far, more than 3200 users have used the Gyroscope Proto version and have more than 10k transactions (average 3.14 transactions per user)

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    In total, more than 2400 matic in fees were paid for the proto version (about 0.24 matic per transaction). Most of the fees were paid for the stress test days (as expected): about 370 matic for the first and 1220 matic for the second.

    Now lets get deep into last stress test:

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    Ok... 1965 unique users participated in stress test 2 and performed 3749 transactions (2903 successful transactions). Note that only 942 users out of 1965 users were founding members. To be eligible as test participants, users must redeem their p-GYDs into 3-clp pools; however, they cannot do so because of gyroscope defense lines (circuit breakers), where the protocol disables redemption into pools during bank-run attacks (see the gyroscope documents for more information) The first minute of the test shows 99 transactions from 98 users, after which the number of transactions drops sharply (because of the safety mode enabled for the 3-clp pool). after this time the transactions count is not zero because some users redeem to other pools, but nobody can redeem to the 3-clp pool after the safety mode (I will show it further). About 15 minutes after the test starts, the number of transactions increases again because "2-clp" is accepted as a redemption target. Also, the increase in the number of transactions in the middle of the test is due to the announcement that "all" transactions are accepted.

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    Now let's review the transactions with more details; As you can see, only 59 transactions were redeemed to 3-CLP (which was initially announced as the test rule) So 40 of the 99 transactions that took place in the first minute went to other pools or maybe even mint transactions. Most transactions were for redemption in E-CLP (1770 transactions) and second was for redemption in wETH (See others in the table and charts).

    The second stress test of the gyroscope was successfully performed and the circuit breaker for excessive flow rates successfully completed its task. 1965 users have participated... Great! According to the team announcement, users must participate in at least 2 out of 3 tests to receive POAP.

    Stress test analysis
    Protocol Overview
    Conclusion

    This dashboard was written by Mrfti (a member of the Gyroscope community) using the Flipside crypto database. You can find me on Twitter: https://twitter.com/Mrfti_plus And discord: mrfti#7948

    If you know Persian, you can subscribe to my youtube channel where I have dubbed gyroscope educational content and make several videos about the gyroscope protocol and Deep DeFi.... Gyroscope persian youtube: https://www.youtube.com/channel/UCtpkX2Nm-RrKcP-amlRYnqw Also, you can access the Persian translation of the Gyroscope documents here: https://twitter.com/Mrfti_plus/status/1616187245773422592?s=20

    Let's make the world a better place=)