Try Quests to earn cryptoGyroscope Stress Test III Analysis
a deep look into the last stress test of the gyroscope!
The number of unique users of the proto version increased from 3225 (by the second test day) to 3650 (by the third test day).
The total number of transactions in the Proto version increased from 10126 (by the second test day) to about 17k (by the third test day).
The average transaction per user was 3.14 on the second test day and increased to 4.66 on the last test day.
The ratio of successful transactions (compared to failed ones) increased from 87.55% to 88.79%.
The total fee for transactions in the proto version increased from 2403 matic to 4570 matic.
There are three increases in the number of users (as well as in the number of transactions and fees paid), all related to the three stress tests previously conducted.
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=)
The third stress test of the gyroscope was successfully performed and the Dynamic Stability Mechanism successfully completed its Stylized DSM redemption curve.
2066 users have participated in third test and made 4852 transactions... Great!
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 third (and last) stress test of the gyroscope protocol was performed on May 11 between 09:30 and 11:00 UTC.
In this test, users had to redeem their p-GYDs within the specified time period to test Gyroscope Stylized DSM redemption curve. This kind of redemption, set the redemption price based on reserve ratio ; The more it falls below 100%, the more the redemption price decreases.
more info on Gyroscope docs:
In this dashboard, we will take a closer look at this test and review its impact on the protocol (gyroscope defense line).
The total number of transactions and the total number of users increased significantly from test two to test three.
Most of the transactions occurred in the first few minutes of the test, and the second wave of increase occurred after the team's second announcement stating that the stylized DSM redemption curve has been active and users can test it again.
we can also see an increase in the number of funding member participants (from 942 to 1050)
the most popular redemption target was 3clp, followed by 2clp and the least redemption was for WETH
As I said at the beginning, the purpose of this test was to check the line of defense for the change in the DSM redemption price, which means that the DSM can lower the redemption price under critical conditions.
So we expect to receive less collateral (to describe precisely, less LP token) in exchange for p-GYDs.
To test this mechanism, I selected one of the pools to deepen it (the mechanism was active for all pools). I selected the WETH pool and calculated the p-GYDs redeemed per minute in that pool (and also the WETH received). We expect to receive less WETH.
As you can see in the chart on the left, there is a significant decrease in WETH received in exchange for p-GYDs in the period after9:57 (note that the test started at 9:30, but the mechanism was not ready in the first few minutes).
In the other time periods, the return of WETH in exchange for p-GYDs is about the same. As you can see, the maximum reduction in the amount of WETH was back to 10:07, in which users received only $4.7 ETH in exchange for 8.75 p-GYD (more than 45% reduction)
Based on the line chart below, we can see the percentage decrease better, with the largest decrease at 9:59 a.m. being 48.2%, and from 10:24 a.m. to 11:02 a.m. we see an increasing slope.
So I can say that the test was successful and the mechanism to change the DSM redemption price did its job well.
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