Method

• Unstaking(undelegating) actions were extracted from osmosis.core.fact_staking.
• These actions were extracted from the mentioned table to examine and categorize transactions after undelegating:
  • Liquidity Pools transaction: osmosis.core.fact_liquidity_provider_actions
  • Staking (Delegate again): osmosis.core.fact_staking
  • Swapping: osmosis.core.fact_swaps
  • Transferring: osmosis.core.fact_transfers
• First transaction after undelegating transaction were identified by extracting first transaction after undelegatin completion date.
• First to third transactions were identified by ranking transactions after undelegatin completion date for each wallet.
• Delegator names were extracted from osmosis.core.dim_labels

Introduction

In this dashboard, we will look into OSMO Unstaking behavior on OSMOSIS to see how frequently users on Osmosis unstake their Osmosis and what do they do with the OSMO once unstaked. and for those who delegate again after unstaking, do they re-delegate to certain validators more frequently than others?

• The highest unstaking transactions occurred in March 2022 with about 17.5K unstaking transactions. Since then the unstaking transactions have had a decreasing trend.

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• The liquidity pool transactions in the first 3 transactions after unstaking are about 1.5X of overall liquidity pool transactions.
• Osmo transfers increased in comparison with the first transaction.
• 2nd and 3rd transactions have lesser transactions in the defined categories and/or they haven’t happened yet.
• In 2nd and 3rd transactions, transferring out tokens increased. it could be because of this fact that in first transaction, swapping and pool exiting happens and then transferring happens in 2nd and 3rd transaction.

In this section behaviors of unstaking and staking again within 7 days will be analyzed.

• Users that want to change the delegator of their staked tokens are not needed to first unstake their tokens, wait for 14 days and then stake again. they simply can redelegate to other validators. but this happened when a user unstake and then stake again which could be because users changed their minds and want to stake again after unstaking.
• The balance of amount of unstaking and then staking again is -1.13M Osmo. It means that users that stake again after unstaking, stake 1.13M less than the amount of unstaked.
• the percentage of delegations and undelegations shows that these users unstake more from Sentinel dVPN than delegate to it and unstake less from frens validator than delegate to it.
• the change of validators could be because of differences in commissions and/or validators’ incentives.

Based on the above charts:

• The most frequent first transaction after unstaking completion is Swapping by more than 37% of all categorized transactions.
• Liquidity pool transactions are 2nd most frequent transactions. the pool exiting is the most frequent transaction in pool transactions.
• The first transactions VS overall transactions:
  • Transfer transactions are about 40% lesser.
  • Exiting pool transactions are more than 8.5 X of overall exiting pool transactions.
  • Joining pool transactions are lesser.

For more digging into transactions after unstaking, the first 3 transactions after unstaking will be examined too:

• About 83% of transactions that are first transactions after the unsatking transaction is completed are categorized into these four categories:
  • Liquidity Pools transaction
  • Staking (Delegate again)
  • Swapping
  • Transferring

• The below pie charts shows the Categories of all categorized transactions on OSMOSIS. these charts are placed in this dashboard so we have a benchmark to compare with transactions after unstaking.

CONCLUSION

• After unstaking, the activity of liquidity pools goes higher. both in joining and exiting pools.
• The peak of unstaking transactions occurred in March 2022 with about 17.5K unstaking transactions. Since then the unstaking transactions have had a decreasing trend.
• The first 3 transactions after unstaking versus overall transactions: