Introduction

On May 11th UST, Terra algorithmic stablecoin, depegged. This incident resulted from the sharp fall of LUNA price and it resulted in the full collapse of the Terra ecosystem.

The impact of the incident was beyond the Terra chain. More or less all blockchain world was influenced directly and indirectly by this event. As a result, many blockchains halted activities linked to the Terra chain.

Now the question is how to reenable the halted activities. This dashboard looks into a historical event to answer this question.

Context

The graph below shows the fluctuations around the price of each token in two hours around reenabling.

We can see that around 18.00 the prices became stable.

We focus on this two hours in the next sections.

The graph below shows the number of swaps executed by wallets in the two hours. We can see few of bots executed unusual number of swaps. These wallets are suspected to be bots.

The graph below shows the popular pools after reenabling. We can see that bnb chain pools were the most popular in terms of number of swaps.

Table below lists the top wallets in terms of number of swaps.

We define bots as wallets with more than 60 swap during the time frame.

The graph below shows the number of swaps by bots every minutes. We can see even more than 30 swap in a minute by a bot.

The graph below shows what pools was used most by bots after reenabling.

The graph below shows what token has been swapped for most by bots. In terms of amount BTC is the most popular token that bots swapped for. In terms of number of swaps RUNE was the most popular one.

We can see that bots used RUNE to swap tokens. In other words, they sold RUNEs most.

The graph below shows net amount of RUNE sold by bots. We can see in total 320K RUNE has been withdrawn from pools by three bots in less than two hours after reenabling.

Conclusion

The data shows that, in the case of reenabling on November 18th 2021, it took time that the price of assets became stable.

During this time some bots became very active in swapping. Some performed more than 30 swaps in a minute.

The focus of swaps were on BNB chain and BNB pools. Perhaps because of the low price of transactions.

The popular tokens to be swapped for was BTC and swapped from was RUNE. However, in total, the amount of RUNE sold was more than RUNE bought.

We can draw a conclusion that if halted Terra pool is re-enabled now again swaps will be active and take advantage of the unbalance price of Terra assets. I would vote for the option of keeping pools halted.