Description of Work

In this bounty we want to examine Osmosis Unstakers. for this, we will check the following items:

• How frequently do users on Osmosis unstake their Osmosis?
• What do they do with the OSMO once unstaked?
  • Do they re-delegate, enter a LP position, or swap into another token?
• Do they re-delegate to certain validators more frequently than others?

Note

• We use the osmosis.core schema, fact_staking, fact_swaps and fact_liquidity_provider_actions tables

1 → How frequently do users on Osmosis unstake their Osmosis?

• To do this part:
  • First, we show all the unstake on a daily basis in the fact_staking table. For this, we do the following:
  • select count(distinct tx_id) as "Number of Unstake", count(distinct delegator_address) as "Number of Unstaker", sum(amount/1e6) as "Amount of OSMO Unstake" where:
    • tx_status = 'SUCCEEDED' and action = 'undelegate'
  • Second, to answer the question How frequently do users on Osmosis unstake their OSMO? We do this by obtaining min(block_timestamp) and max(block_timestamp) for each unstake for each user, then we calculate the difference between these two times on a daily basis, that is:
    • datediff('day', min_unstake_block_timestamp, max_unstake_block_timestamp) → For each wallet
  • Then we get the average number of transactions for each wallet over the average time difference:
    • avg(datediff('day', min_unstake_block_timestamp, max_unstake_block_timestamp)) / avg(number_of_unstake) → For each wallet
  • Finally, we calculate the frequency for different time periods

We do not consider users who have unstaked only once as frequent statistics by: having min_unstake_block_timestamp != max_unstake_block_timestamp

Conclusion of part 1

• It can be seen that the highest number of unstake for OSMO was related to May 12, 2022 and the conditions of the market collapse.
• The highest unstake volume for OSMO is related to May 3, 2022.
• According to the result of the chart on the side, it is determined that:
  • 41.6% of users unstake their OSMO Everyday
  • 13.2% of users unstake their OSMO once between 10 and 19 days
  • 13% of users unstake their OSMO once between 30 and 59 days
  • 9.59% of users unstake their OSMO once between 20 and 29 days
  • 9.34% of users unstake their OSMO once between 5 and 9 days
  • 7.55% of users unstake their OSMO once between 1 and 4 days
  • 5.74% of users unstake their OSMO once between 60 and 179 days

2 → What do they do with the OSMO once unstaked?

> The purpose of this section is to know what is the first thing each user does with OSMO after they unstake it. Does it swap? Stake it again? Or will it enter an LP position? Well, we consider several methods:

Method 1:

• We assume that when the user unstake the OSMO, he/she uses it elsewhere (Re-Delegate, Swap or Enter a LP position), while this may not be the case (because he may already have an OSMO balance :slightly_smiling_face:). Anyway, We act as follows:
  • We consider 4 different time periods: the last 6 months, the last 3 months, the last 2 months and the last 1 month, then for each time period getting the first Unstake for each wallet (min(block_timestamp)) and then get the first Re-Delegate, Swap and Enter LP position (min(block_timestamp)) for each wallet and then we check to see if any of these Re-Delegate, Swap or LP positions were after the Unstake or not (min(block_timestamp) for Re-Delegate, Swap or LP positions > min(block_timestamp) for each wallet) , then each of the wallets that performed the first Re-Delegate or Swap or Enter a LP position after Unstake We count it for each type (Re-Delegate or Swap or Enter a LP position)

Method 2 (More accurate):

• In this method, the initial assumption is exactly the same as the first method, but with the difference that we enter the amount of OSMO that will be Unstake, assuming that we consider the states that the user performs the first action after Unstake (Re- Delegate or Swap or Enter a LP position) is the same amount of OSMO that he has unstaked or less (if he already has an OSMO balance and has not used that balance) for example, a user unstake 1000 OSMO and 900 OSMO swaps to ATOM so this is more accurate

1.1 → Method 1

2.1 → Method 2 (More accurate)

Conclusion of part 2

According to the results obtained from the Method 1 and Method 2 (More accurate) and 4 time periods (the last 6 months, the last 3 months, the last 2 months and the last 1 month), it is clear that in both cases, after Unstake, the first thing users do with their OSMO is mostly Swap to other tokens, after that the most thing they do is Enter a LP position and after that Re-Delegate

On average, ==62.7%== of users after Unstake, the first thing they do is Swap, ==17.93%== Re-Delegate, and ==19.37%== Enter a LP position.

3 → Top token swap from OSMO after unstake

Conclusion of part 3

According to the results obtained in the last 6 months, the users who perform their first operation after Unstaking with Swap, in terms of swap volume, swap more to USTC, ATOM, and JUNO, and in terms of the number of swaps, swap more to ATOM, JUNO and USTC respectively

More users have swapped to ATOM, but they have swapped to USTC with a larger volume

4 → Do they re-delegate to certain validators more frequently than others?

Conclusion of part 4

After Unstake, if the first thing they do is to Re-Delegate, users will re-delegate to the following validators in order:

1. Cosmostation validator
2. Frens validator
3. OmniFlix Network validator
4. Sentinel dVPN validator
5. Citadel.one validator
6. SG-1 validator
7. wosmongton validator
8. Figment validator
9. Chandra Station validator
10. Imperator.co validator

5 → Top pool id after unstake in the last 6 month

Conclusion of part 5

After Unstake, if the first thing they do is to Enter a LP position, users will enter to the following pool in order:

1. Pool ID: 690
2. Pool ID: 1
3. Pool ID: 678
4. Pool ID: 560
5. Pool ID: 561

Final Conclusion

After reviewing and analyzing the behavior of Unstakers in Osmosis, we came to the conclusion that firstly, users unstake more than their ==OSMO Everyday (41.6%), after examining two methods and 4 different time periods, We came to the conclusion, the first thing users do after Unstake is to swap their OSMO to other tokens, and it was found that users in this case swap their OSMO to ATOM, JUNO, and USTC, respectively, after the swap of the next users from Unstake, they mostly perform Enter a LP position and most of their OSMOs are placed in pools Pool ID: 690, Pool ID: 1 and Pool ID: 678, and finally after swap and Enter a LP position, users after Unstake Re-Delegate and they stake most of their OSMO in Cosmostation validator, Frens validator and OmniFlix Network validator respectively.