What is This All About?🚨

Construct a dashboard that displays the number of new contracts deployed and the total number of contracts deployed each week over the past several months. Your dashboard should also chart the development of stablecoins, including any supply trends.

Analyzed Topics:

1. Terra Contracts
2. StableCoins (USDT & USDC) Development
   • StableCoins (USDT & USDC) Swap Activity on Terra
   • StableCoins (USDT & USDC) Transfer Activity on Terra

Introduction🚩

What is Terra?

Terra is an open-source blockchain payment platform for an algorithmic stablecoin, which are cryptocurrencies that automatically track the price of currencies or other assets. The Terra blockchain enables users to instantly spend, save, trade, or exchange Terra stablecoins.

The Terra protocol creates stablecoins designed to consistently track the price of a fiat currency (a government-backed currency such as the U.S. dollar or euro). It consists of two cryptocurrency tokens—Terra and Luna.

More Info

What Happened to $LUNA?

The Luna crypto network collapsed in what's considered the largest crypto crash ever, with an estimated $60 billion wipeout, shaking the global digital currency market. There are two stories regarding Luna crypto: the TerraUSD/UST stablecoin and the actual Luna coin.

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Method⚡

In this dashboard, i explored Terra 2.0 development activity by continuing the preveious dashboard about diving deep in every topic of Terra and building the best Terradash at the end!

At first, i extracted contracts on Terra from ==“Terra.core.fact_transactions”== table on Flipsidecrypto using the tx column by filtering it with tx:body:messages[0]:contract to extract the contracts and then joined it to “terra.core.dim_address_labels” table to find the labels of contracts.

Then i went through stablecoins development such as USDT & USDC and analyzed their swap and transfer activity on Terra 2.0 since its launch by extracting the data from ==“terra.core.ez_swaps”== table for swap activity and ==“terra.core.ez_transfers”== table for transfer activity.

I filtered USDC & USDT with their contract addresses:

• USDC: ==“ibc/B3504E092456BA618CC28AC671A71FB08C6CA0FD0BE7C8A5B5A3E2DD933CC9E4”==
• USDT: ==“ibc/CBF67A2BCF6CAE343FDF251E510C8E18C361FC02B23430C121116E0811835DEF”==

Also i only considered successful transactions with TX_SUCCEEDED='TRUE'.

We are analyzing Terra 2.0 in this dashboard and we have nothing to do with the old Terra or $LUNC

Since there was 2 Astroport contracts in fact_transactions table, i combined them together to make the data more accurate.

Findings👀

• In this section, i showed top 10 contracts on Terra in terms of number of transactions and users and then i showed these metrics on Top sectors on Terra too to see which is running the trends.
• As i mentioned earlier, Astroport is absolutely demolishing other contracts in both terms of transactions and users with over 222K transactions that recorded by 17.5K users over time. Astroport is being followed by Terra Poker Token in terms of number of transactions with over 21K txs and Stader LunaX Token in terms of number of users with over 4.5K users over time.
• In top sectors charts in left and right, We can see that DEXs and tokens on Terra are doing pretty well and outperforming other sectors in both terms of number of transactions and users.
• Since May, over 168K transactions has been recorded by over 17.97K users on DEXs and almost 120K transactions has been recorded by almost 15K users over time. DeFi and NFT sectors didnt performe very well on Terra and it seems Terra users are not using them as much as DEXs and Tokens.

Findings👀

• In the charts above, i tried to show the weekly and monthly deploying contracts on Terra and also the top 50 of the most used contracts in this network over time since Terra 2.0 Launch because we are not looking for Terra 1.0 (LUNC) data here.
• We can clearly see that the contract deploying on Terra has decreased slightly over time and this matter is more clear in the monthly chart, which it seems from 262 total deployed contracts on June, it dropped to 125 monthly deployed contracts on November and almost got cut in the half.
• ==Astroport== contract which belong to Astroport DEX on Terra chain is the most used contract by Terra users with over 222K transactions in total Followed by Terra Poker Token in the second place with over 21K transactions, almost 200K less transaction than the first one which is Astroport.

1. Terra Contracts

2. StableCoins (USDT & USDC) Development

Findings👀

• Chart above are showing the swapping activity on Terra chain by The most popular stablecoins such as USDT and USDC in overall and on a weekly basis.
• We can see although USDC stats is more than USDT on almost every charts, but on average volume charts we can see that USDT has recorded higher average volume in both $LUNA and USD cases than USDC over time.
• Terra’s most swap activity belong to its first weeks after its launch and after that it dropped significantly.
• Over 4.8K users swapped USDC on terra and recorded over 31K total swaps over time since late May with a total volume of 49.2M in $LUNA and 115.3M in USD.
• As i mentioned earlier in weekly average volume chart, we can confirm that statement in the overall average volume chart that USDT has recorded more average volume in both $LUNA and USD than USDC.

==StableCoins (USDT & USDC) Swap Activity on Terra==

==StableCoins (USDT & USDC) Transfer Activity on Terra==

Findings👀

• In this section, we are seeing StableCoins transfer activity on Terra chain. As we observe, in overall there were more transfer out has been recorded on Terra in past 6 months and USDC is in the lead while USDT is in the second after it.
• A total of 137.4K transfer out has been recorded by 3.7K users that were transferring USDC.
• Again in here in all the charts except average volume ones, USDC is outperforming USDT on Terra blockchain.
• Although USDC has recorded much more volume in both $LUNA and USD than USDT, but USDT has recorded much more average volume than USDC over time.

Findings👀

• In the charts above, i showed StableCoins weekly transfers volume in both $LUNA and USD on Terra divided by IN & OUT.
• As i talked about it earlier, we can see on almost every week, Transfers out were more than transfers IN and it seems users are moving their assets to another chain because of Terra crash on May, users lost their trust into this blockchain and its safety. We can clearly see this matter on the first weeks after its launch that transfer activity increased on this chain and it was mostly Transfer Out as we look more precisely.
• In overall from what we found of these charts, looks like users lost their trust to Terra and now that this chain launched its new token called $LUNA 2.0, few users are buying it and putting their trust in this project, millions of people went broke after that incident because of their trust in this chain and project.

Conclusion💡

• 1218 contracts has been deployed on Terra 2.0 so far after its launch on May 28th in past 6 months, deploying contracts on Terra was bearish in past few months after June and almost got cut in the half in terms of monthly deployed contracts.
• Astroport was the most popular contract on Terra in past 6 months which belong to Astroport Dex itself that recorded over 222K number of transactions so far by 17.5K users.
• Looks like DEXs and Tokens are very popular on Terra 2.0, from what we saw, most of the top 50 popular contracts were belong to DEXs and Tokens.
• Terra’s most swap activity belong to its first weeks after its launch and after that it dropped significantly.
• In overall from what we found of these charts, looks like users lost their trust to Terra and now that this chain launched its new token called $LUNA 2.0, few users are buying it and putting their trust in this project, millions of people went broke after that incident because of their trust in this chain and project.
• USDC is the most popular StableCoin on Terra on both swap and transfer activity and USDT is in the second place.
• There were so many more transfers OUT than IN on Terra after its launch and most of the transfer activity on this chain belong to the first weeks after Terra 2.0 launch on May 28th.

Author: Sbhn_NP

Discord : Sbhn_NP#8717

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Special Thanks to m.zamani for some inspiration and queries that i modified them.

Thanks for your time!