Introductions

What is Osmosis?

a protocol, which means it uses smart contracts to determine the price of digital assets, to produce liquidity via a peer-to-peer (P2P) methodology, and to exact trades between users. This approach to an exchange platform is known as an AMM a DEX protocol that prices crypto assets in liquidity pools, it was launched in late 2021.

What is DEX?

A decentralized exchange (DEX) is a peer-to-peer (P2P) marketplace that connects cryptocurrency buyers and sellers. In contrast to centralized exchanges (CEXs).

What is covered in this analysis?

In this chaotic week users reaction and behavior changes regarding Osmosis is will be visualized next to questions such as Has more money flowed into Osmosis this week compared to the past few weeks/months? Where is this money coming from? Have wallets moved more into stablecoins?

Swapping affected on Osmosis

Methodology

The bulk of the gathered data regarding Osmosis user reaction was extracted via mainly using osmosis.core.fact_transfers ,osmosis.core.fact_swaps and osmosis.core.dim_pricestables, all of the mentioned tables were provided by Flipsidecrypto database, to make these raw data more comprehensible, proper types of charts and graphs were utilized.

Conclusion

• There is an influx in volume of USD flowing in Osmosis following this chaotic week with a jump in bridge volume and bridgers which came to 39M and 9.9M bridged volume done via 36.9K and 14K bridgers in two week surrounding the events which already equalized the half passed month of Nov with Oct but USDC is not fully adapted as the largest bridging token with the events not affecting its daily bridge volume instead Atom with 32M USD is the most bridged token by volume it being a native token on Osmosis could be the main reason.
• Swapping volume was not affected much by the FTX events but there was a notable increase to its swap volume especially swappers on the first week of the Nov which the fiasco was brewing and there was a sensible drop in swapping interactions on the second week of the Nov, usually swapping on a platform thrives when the market is doing well a a whole so these not so impressive metrics should not be surprising but this sickened market encouraged users to be more relied on swapping their assets to more stable options with a notable increase to USDC daily volume share from Nov8-13 and overall with 45M USD volume swapped USDC is the most favorite swapped token makes sense as it could be considered one of the widely adapted stable.
• Wallets stars1u75hcvzppcdw0przk4ak8a9zm460n37k67pr6q with 1.28M USD and stars18qw9ydpewh405w4lvmuhlg9gtaep79vygx0d08 with 1M $ transferred and send the most volume into Osmosis while searching them in any scanning application did not showed any signs of them being involved with CEXs especially FTX.
• So the overall spikes in volume of incoming money and users interacting on the Osmosis platform compared to the weeks and months before the FTX incident and its unavoidable bankruptcy is not surprising with users observing how they cannot even fully trust a high market share CEX such as FTX combined with their loss of trust toward centralized exchanges and their increased desire to conduct their actions on a DEX Osmosis and its counterparts could be the future of the crypto trading.

Thank You For Your time!

Bridging affected on Osmosis

• Compared to before first two weeks of Oct majority of the transfers were after second half of October 2022 with highest transfer volume being recorded on third week of Oct with 65M transfers out of 83M USD transfers in that month being recorded on the mentioned week but bridge volume decreased to 10M on the second week of Nov after the situation on the market calmed down.
• With the fiasco starting in the beginning of Nov and fully taking its effect after Nov8 with locking users assets and such Nov with 74M USD accumulated with 13 days left of the month shows how markets chaos increased the bridged volume on Osmosis.

• Highest bridged and bridgers were recorded on third week of Oct with 81K bridges done by 43K bridgers but bridges and bridgers decreased to 23K and 14K respectively on the second week of Nov.
• As mentioned market also increased bridging interactions on Osmosis as well while with more than two weeks left of the month November accumulated 162K bridges vs 139K on Oct and 61K bridgers on Nov vs 59K on Oct

• Looks like the events on Nov haven’t had much impact on swap volume on Osmosis with May recording 340B USD of the swapped volume.
• Overall swapping volume after some recovery and ATHs on Jan-May 2022 is decreasing and is in a downward trend on Osmosis.

• Most of the swaps and swappers on Osmosis were recorded on the month of Mar with 2M swaps being done via 171K swappers and second week of May with 700K swaps and first week of Mar with 82K swappers were weeks with the most swap interactions on Osmosis.
• Only visible effect of the market on swap interactions on Osmosis can be seen on the first week and second week of Nov with 367K swaps dropping to 124K and 37K swappers dropping to 20K respectively .

Money senders to Osmosis

• While the FTX and market crashed was kickstarted on the early days of Nov on Nov8 highest volume USD of the bridged tokens was recorded which 5.2M, 67% was Atom followed by 850K USD, USDC.
• Atom mostly consists half of the daily bridged volume which is justified as it being a native token to Osmosis but USDC daily share of traded volume seems to be mostly affected on Nov10 which it consisted more than third of the bridged volume.
• With 32M, 34% of the bridged volume Atom is the most bridged token by volume followed by USDC.axl with 14M bridged volume and Evmos 8.9M.

• Most of the volume sent to Osmosis was on Nov9 with wallet stars1u75hcvzppcdw0przk4ak8a9zm460n37k67pr6q a none CEX wallet consisting 766K of sent volume, wallet stars18qw9ydpewh405w4lvmuhlg9gtaep79vygx0d08had the most transferred liquidity in a single day by a single wallet which was not a CEX sender as well.
• Overall wallet stars1u75hcvzppcdw0przk4ak8a9zm460n37k67pr6q with 1.28M USD(8 transactions) flowed into Osmosis followed by stars18qw9ydpewh405w4lvmuhlg9gtaep79vygx0d08 with 1M transferred the most volume to Osmosis none of them showing any signs on being involved with any FTX or CEX related wallets sending money.

• Nov8 had the highest volume of swapped volume in that week with USDC consisting 36%, 8.1M USD of the swapped volume followed by Atom 5.3M.
• Seems like USDC in Nov8-13 with consistently having more than 30% swapped volume shows how the bearish market encouraged users to trade stablecoins more in a 5 day period.
• As expected USDC.axl being a widely utilized stable coin and Atom a well known Osmosis native token consist more than half of the swapped volume with USDC having 29.6%, 45M USD of the swapped volume followed by 37.7M Atom and 27M Osmo.