Description of work:

• In this Bounties we want to:

  • Find the week that the largest volume of OSMO burning happened
  • Show some of the events that this burning had on the Osmosis ecosystem.

• To address this question, we consider two modes for OSMO burning in the Osmosis ecosystem. These two modes include:

  • IBC Transfer: When a transaction is made on Osmosis and this transaction transfer a token from the Osmosis chain (ATOM) to a token outside the Osmosis chain (JUNO), the fee for OSMO is considered a burn amount.

  • Exit Pool: When a token is withdrawn from a pool, we consider the OSMO value of the token_out to burn

Note:

• we use the osmosis schema and [osmosis.core.fact_msg_attributes] table
• For find burn event we use the msg_type field when [msg_type = 'burn' and attribute_key = 'amount']
• For find OSMO burn amount we re-join [osmosis.core.fact_msg_attributes] using(tx_id) and find record for IBC Transfer by [msg_type = 'coin_spent' and attribute_key = 'amount' and attribute_value like '%uosmo'] and for Exit Pool by [msg_type = 'pool_exited' and attribute_key 'tokens_out' and attribute_value like '%uosmo'] condition

IBC Transfer Example

Exit Pool Example

The chart above shows the Volume of OSMO burning on a weekly basis, according to the chart it shows that:

• The largest volume of OSMO burning the second week of May 2022, from [May 9 to May 15]
• The largest volume of OSMO burning is in May 2022
• The burn value for OSMO has been increasing from the beginning to the second week of May 2022, and then the burn value has decreased since the second week of May (May 16, 2022).

The chart above shows the Volume of OSMO burning on a weekly basis by burn type, according to the chart it shows that:

• OSMO burn amount in Exit Pool is much higher than IBC Transfer

Conclusion

• We examined two cases in which a burn occurs in the Osmosis ecosystem. One for Exit Pool and one mode for IBC Transfer, which according to the results is the most common cause of OSMO burn for Exit Pool mode and the highest amount of Burn is for the second week of May 2022 due to the large amount of Exit Pool from OSMO.
• The total value burned for OSMO for Exit Pool mode is 104.4M
• The total value burned for OSMO for IBC Transfer mode is 249.1k