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This dashboard looks at the number of unique users on Osmosis over time and what events may have caused large influxes of new users.
Osmosis is an AMM (Automated Market Maker) protocol built on the Cosmos SDK. It allows users to build their own custom AMMs. Any user holding tokens of IBC compatible blockchains, such as Cosmos, Regen, or Akash, can utilize Osmisis' swapping features. The native token of Osmisis, OSMO, is used for governance. Holders of the OSMO token can decide on the future direction of Osmosis and its pools.
We will first look at the daily number of unique users making transactions on Osmosis. We will then look at the daily number of users making their first transaction on Osmosis. We will attempt to determine what events may have causes spikes in either of these metrics.
The number of daily unique users on Osmosis has significantly increased over the past year, from only around 400 - 5000 daily in July of 2021, to over 50,000 daily unique users in March of 2022. The peak of daily unique users occurred in April of 2022, where on April 23rd over 61,000 unique users conducted transactions. Since March/April, the number of unique users conducting transactions has significantly decreased.
The daily number of unique users conducting transactions on Osmosis for the first time has increased significantly over the past year. The peak was on April 23rd of 2022, where over 13,000 new users conducted transactions on Osmosis.
In conclusion, both the number of daily unique users and daily users conducting a transaction for the first time increased significantly over the past year, reaching a peak in mid-March and then again in April before declining. The large influx of both new users and daily unique users began in January of 2022, which coincides with the bridging of Osmosis' to Ethereum via the Gravity Bridge. This allowed users on Ethereum to bridge their assets to Osmosis and likely was a major factor in bringing new users to the protocol.