In this piece of analysis, we will analyze the degree of interaction of the new users of the Terra blockchain with a set of different protocols, in concrete: Anchor, Mirror, Pylon, Astroport, Terraswap, Prism & Mars

New users are defined as those wallets who performed its first transaction in the last 90 days as described in the previous article "Terra new addresses" (Question 160) that you can find in here

We define the interaction with the protocols as the total number of transactions carried out during a specific period of time. The period of analysis corresponds to the last 90 days prior to the time of writing of this article.

Intro & methodology

Results

In order to have an initial perspective of how relevant each of the protocol has been for new users, or in other words, which protocol has captured more transactions of new users in the Terra space, we must look at the overall share of transactions per protocol:

As observed in the pie chart above, Terraswap is the protocol capturing the most of the transactions of the new wallets in the space, hence it is the main entry door for new users.

Conclusions

In this article we have reviewed how the new users of the Terra space in the last 90 days have interacted with the most relevant protocols:

• Terraswap is the main entry door to the Terra ecosystem for new users by capturing > 60% of the total transactions
• Astroport is the second most relevant protocol in terms of interactions of new users of the Terra space. Astroport and Terraswap account for >95% of the total transactions
• However, when looking at the daily number of transactions, we observe that Astroport is displacing Terraswap by gaining traction amongst the new users of Terra
• Anchor, Mirror, Pylon, Prism & Mars display a residual share of usage amongst the new users in the Terra ecosystem
• The interaction of the new users in the Terra space with the protocols in scope differs from the more experienced users which interact mainly with the Anchor protocol (which accounts for >30% of the overall transactions in the period of analysis)
• When looking at the full picture (transactions of all the wallets within the ecosystem), the relevance of Terraswap is also decreasing at the expense of Astroport and Anchor protocol
• The usage of the other protocols remains residual. However Mirror displays a roughly constant share, Pylon decreases whereas Prism and Mars seem to start gaining traction amongst the users in the Terra ecosystem.

Anchor, Mirror, Pylon, Prism & Mars display a residual share of usage amongst the new users in the Terra ecosystem.

Astroport is the second most relevant protocol, with over 30% of the total share of transactions. The two leading protocols capture > 95% of the total interactions of new users in the space in the last 90 days.

This analysis represents the static picture of the last 90 days. It is also relevant to observe the daily evolution of the transactions per protocol in order to ascertain if there is any protocol gaining traction against others:

When looking at the daily evolution of the number of transactions per protocol, we observe that Astroport is gaining share amongst the new users. The usage of the remaining protocols in scope remains residual since no relevance increase in the share is observed in the period of analysis.

In order to complete this piece of analysis it is key to understand how the overall users interact with the protocols in scope in order to ascertain if there is any difference. If so, we will be able to understand how older/more experienced users in the space navigate the ecosystem. In order to do such, we will replicate both of the above analysis in the key of the total number of users.

In the key of the total users of Terra, Terraswap and Astroport are still relevant, but their share is reduced to ~60% of the overall transactions.

When observing the activity of all the wallets in the space, we see that Anchor protocol accounts for >30% of the total transactions.

The complementing question for this analysis would be ascertaining if in the overall perspective (all users), there is a protocol gaining traction amongst other. In order to see this, we can replciate the previous share analysis, but including all wallets in the Terra space:

The remaining protocols in scope gain relevance when looked from the perspective of the overall number of wallets, hence they're mainly interacted by most experienced users.

From the overall perspective, the relevance of Terraswap is also decreasing at the expense of Astroport. Anchor protocol is also gaining share in terms of total number of transaction, contributing to the erosion of Terraswap.

The usage of the other protocols remains residual. However Mirror displays a roughly constant share, Pylon decreases whereas Prism and Mars seem to start gaining traction amongst the users in the Terra ecosystem.