What is Terra? → Source

Terra is an open-source blockchain hosting a vibrant ecosystem of decentralized applications (dApps) and top-tier developer tools. Using proof-of-stake consensus and ground-breaking technologies like Mantlemint, Terrain, and Station, the Terra blockchain is one of the fastest chains in existence, giving users an unparalleled DeFi experience. As a permissionless, borderless economy, Terra enables next-generation financial products accessible to anyone with an Internet connection.

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✍️ Description of Work

In this dashboard we want to check the “Active Wallets” on Terra ecosystem. For this, we first obtain “Active Wallets” on Terra (based on the definition of “Active Wallets” presented in the Methodology section), then based on “Active Wallets”, we examine the following:

Total “Active Wallets”
- Total Number of “Active Wallets”
- Total Number of Transactions by “Active Wallets”
- “Active Wallets” Weekly Transactions
- “Active Wallets” Wallet Weekly Creation Date
Daily “Active Wallets”
- Daily Number of “Active Wallets”
- Daily Number of Transactions by “Active Wallets”
“Active Wallets” Activity Action (Swap, Liquidity Provider Action, Staking, IBC Transfers, NFT Mint, NFT Sales and Governance Votes)
- Total Number of “Active Wallets” per Activity Action
- Total Number of Transactions per Activity Action by “Active Wallets”
- Weekly Number of Transactions per Activity Action by “Active Wallets”
Provide a few brief, specific ideas to attract additional users

🧠 Methodology

To deal with this dashboard, we obtain the data from Flipsidecrypto using the terra.core schema and fact_transactions, ez_transfers, ez_staking, fact_nft_mints, fact_nft_sales, fact_swaps, fact_governance_votes and tables.

First, we need to understand the definition of “Active Wallets”. Well, first, we provide a definition of DAUs according to bounty requirements and explain how to obtain “Active Wallets”.

“Active Wallets”==: We consider an active wallet when it `has transacted on at least 3 days of the week` and`has transactions on at least 40% of active days`→`(the number of days between the first and last transaction)`.

Well, now to find “Active Wallets”, we first need to define some parameters:

Activity Start Date: The date of the first transaction of each wallet in Terra.
Activity End Date: The date of the last transaction of each wallet in Terra.
Duration of Activity: The duration of a wallet activity from the date of the first transaction and last transaction

🔎 These two parameters are obtained according to the following query:

select tx_sender as "User", min(block_timestamp::date) as "Activity Start Date", max(block_timestamp::date) as "Activity End Date",
  		datediff('day', "Activity Start Date", "Activity End Date") as "Duration of Activity"
	from terra.core.fact_transactions 
  	where tx_succeeded = true
	group by "User"
  	having "Activity Start Date" &lt; current_date - 4 and "Duration of Activity" &gt;= 3

According to our definition of an “Active Wallets”== (has transacted on at ==least 3 days of the week==), a wallet must have been created at least 4 days ago so that it can be checked whether it is active or not, and wallets that were created in the last three days are excluded. They are not checked because they do not have the necessary condition (has transacted on at ==least 3 days of the week==) for an active wallet, so we use the following condition:

"Activity Start Date" < current_date - 4

Also, a wallet must have a minimum duration of 3 days or more to check if this wallet is active or not, because a wallet may be created today, make a transaction tomorrow, and not make any more transactions. It has had transactions for days since its activity (==one transaction in one day==), but it cannot be among the ==“Active Wallets”==, because it must have transactions on at least 3 days of the week to be considered among the active wallets, for this reason We use the following condition:

"Duration of Activity" >= 3

Number of Active Days: This parameter specifies the number of days each wallet has had a transaction
```
count(distinct block_timestamp::date) as "Number of Active Days" by each wallet 
```

Activity Status: This parameter specifies whether a wallet is active or inactive and is calculated according to the following formula:
```
if "Number of Active Days" / "Duration of Activity") * 100 &gt;= 40 then "Activity Status" = 1 else = 0
```

Now it's time to determine why we set "Activity Status" to 0 or 1 for a wallet in this way?:

> Our goal is to find Active Wallets” and by definition it should be active has transacted on at least 3 days of the week and has transactions on at least 40% of active days. Well, we know that each week is 7 days, so each day of the week is approximately 14.28% of the entire week. Now to make sure that each wallet He had a transaction on 3 days of the week we considered the ("Number of Active Days" / "Duration of Activity") 100 >= 40 , wallets who are active on at least 3 days out of 7 days of the week (3 * 14.28 = 42.84) → So, with this condition, I will check that an active wallet must have transactions on at least three days of the week, and it must also have transactions on 40% of its active days →(the number of days between the first and last transaction) > > Finally, using the parameters and definitions that were provided, we consider the list of wallet whose Activity Status = 1 as “Active Wallets” and obtain other sections according to this wallet list.

“Active Wallets”== Activity Action
For this section, we consider Swap, Liquidity Provider Action, Staking, IBC Transfers, NFT Mint, NFT Sales and Governance Votes activities
To obtain this part of the ez_transfers, ez_staking, fact_nft_mints, fact_nft_sales, fact_swaps, fact_governance_votes, we count the list of transactions of “Active Wallets” for each action

1️⃣ → Review and analysis of Active Wallets

✅ Observations

In the charts above, you can see the total number of transactions and wallets, as well as the total number of active wallets along with their total transactions. It is clear that:

The total number of unique wallets in the terra ecosystem is 217K, of which, according to our definition, 3510 wallets are active, that is, about 1.62% of all wallets are active.
The total number of transactions in the terra ecosystem is 2.16M, of which, according to our definition, 0.986M were performed by active wallets, that is, about 45.7% of transactions were performed by all active wallets.
You can see that the active wallets are active every 2 days and make a transaction in the terra ecosystem.

Although only ==1.62%== of all terra wallets are active, they made ==45.7%== of all transactions, and this shows the high activity of these types of users.

✅ Observations

In the charts above, you can see the number of daily active wallets, as well as the number of transactions by active and inactive wallets and comparing them on a weekly basis, as well as the date of creation of active wallets on a weekly basis. It is clear that:

At the beginning of the activity (since we have transaction data), a large number of active wallets have been created that have been active on a daily basis. The Jun 12, 2022 has been a downward trend.
From June 12, 2022 to September 5, 2022, the trend of the number of daily active wallets has been quite constant, and between 400 and 500 wallets are active daily.
From September 5 to September 9 2022, the trend of the number of active wallets increased slightly and reached about 600 active wallets per day.
From September 12 to December 2, 2022, the trend of the number of wallets on a daily basis shows a completely stable trend and has reached approximately 500 to 550 active wallets per day.
You can see that since December 2, 2022==, the number of daily active wallets shows an upward trend and has almost reached ==600== active wallets per day.
You can see that the percentage of active wallets compared to inactive wallets is around 6% in the beginning and over time this percentage increased and reached around 30% on August 20, 2022 and on September 8 2022 has decreased to about 4%, but from this date onwards, this ratio increased again and reached about 20-25% per day.
You can see that the number of transactions by active wallets is lower than inactive wallets at the beginning until September 5, 2022, but from this date on, the number of transactions by active wallets is more than inactive wallets.
From September 5, 2022 onwards, the activity of active wallets has increased and shows a completely upward trend
You can see that most of the active wallets were created early on and continued to operate over time, but on September 5, 2022 more wallets were created that are active, and it is interesting that on this date the total activity of the active wallet has increased
According to the following tweets, the reasons for the growth of active wallets and their activity increase on September 5 are:
- In short, that means the $LUNA airdrop is on, and your team at TFL will work to launch the claim interface by September 4th → Tweet Link
- The $LUNA airdrop claim interface is now live for all eligible users → Tweet Link

2️⃣ → Review and analysis of Active Wallets by Activity Action

✅ Observations

In the charts above, you can see the actions of active wallets in total and on a daily basis, as is clear:

About 76.5% of active wallet transactions are related to Swap
About 13.3% of active wallet transactions are related to Staking/Unstaking
About 5.69% of active wallet transactions are related to LP Actions
Almost the same number of active wallet have transacted for Swap and Staking/Unstaking
Transactions related to Swap by active wallets show an upward trend and recently active wallets do more Swap in terra.
The least activity related to active wallets is related to NFTs (Mint, Sales and Purchase)
Interestingly, active wallets have done more swap transactions than inactive wallets and this shows that active wallets are much more interested in doing Swap considering that they make up a small percentage of the total wallets.
Inactive wallets prefer to stake their assets and do less swap or transfer transactions.

3️⃣ → Review and analysis of Top Active Wallets by Activity Action

> In this section, we show the top active wallets in terms of the most number of active days, as you can see, these wallets have made transactions on most of the days of their activity. After showing the top most active wallets, we check their actions

✅ Observations

In the charts above, you can see the actions of active wallets in total and on a daily basis, as is clear:

About 66% of top active wallet transactions are related to Swap
About 17.6% of top active wallet transactions are related to Staking/Unstaking
About 11.5% of top active wallet transactions are related to LP Actions

4️⃣ → Provide a few brief, specific ideas to attract additional users

Here are a few ideas to attract additional ==New Users== to Terra blockchain:

Referral Program: A referral program rewards existing users for referring new users to the platform. This could be in the form of tokens, discounts, or other incentives that encourage users to share Terra blockchain with their network. By providing a tangible benefit for sharing, a referral program can help drive growth and increase the visibility of Terra blockchain.
Partnering with existing platforms: By partnering with established platforms and services, Terra blockchain can tap into existing user bases and bring in new users. This can help increase the reach of Terra blockchain and make it easier for users to engage with the platform. For example, Terra blockchain could partner with a popular cryptocurrency wallet to allow users to easily manage their TERRA tokens.
Marketing Campaigns: Marketing campaigns can help raise awareness of Terra blockchain and attract new users. This could involve targeted social media ads, influencer marketing, online advertising, or other methods of reaching potential users. By highlighting the benefits of Terra blockchain and making it easier to understand, marketing campaigns can help attract new users and drive growth.
Educational Resources: Creating educational resources such as tutorials, guides, and webinars can help new users understand and engage with Terra blockchain more easily. By providing clear and accessible information, Terra blockchain can lower the barriers to entry and make it easier for new users to get started. This can be especially helpful for users who are new to cryptocurrency or blockchain technology in general.

Here are a few ideas to attract additional ==Active Users== to Terra blockchain:

Incentivized activities: Offering rewards for active participation in Terra blockchain can help drive engagement and increase the number of active users. This could include rewards for staking TERRA tokens, participating in governance decisions, or contributing to the development of the platform in some other way. By providing tangible benefits for being an active user, Terra blockchain can encourage more people to get involved and drive growth.
Community Building: Building a strong, active community around Terra blockchain can help increase engagement and drive growth. This could involve creating online forums, social media groups, and other channels where users can interact with each other, share ideas, and collaborate. By fostering a sense of community, Terra blockchain can create a supportive environment for users and increase the number of active participants.
Development Grants: Offering grants to developers and other stakeholders who are actively building on Terra blockchain can help drive innovation and increase the number of active users. This could involve funding projects that use Terra blockchain to build decentralized apps (dApps), tools, or other services. By providing financial support, Terra blockchain can encourage more people to build on the platform and create a vibrant ecosystem.
DApps and Services: Encouraging the development of dApps and other services that run on Terra blockchain can help increase the number of active users. This could involve providing resources and support for developers, as well as promoting the dApps and services that are built on Terra blockchain. By creating a robust ecosystem of dApps and services, Terra blockchain can increase the value it provides to users and drive growth.

\

> The cost of implementing these ideas will depend on various factors such as the size of the incentives offered for active participation, the resources required for community building, and the budget for development grants. However, it's likely that incentivized activities, community building, and development grants will require a significant investment, while encouraging the development of dApps and services may have a lower cost associated with it.

✔️ Final Conclusion

In this dashboard, we analyzed and reviewed active wallets in the terra ecosystem. We defined an active wallet as follows:

> ## ==Active Wallets:== We consider an active wallet when it has transacted on at least 3 days of the week and has transactions on at least 40% of active days→(the number of days between the first and last transaction).

According to this definition, the total number of active wallets in the terra ecosystem was 3510==, which includes 1.62% of all wallets, but about 45.7% of transactions are carried out by these active wallets. Active wallets make a transaction once every two days on average. The activity related to the transactions of active wallets has taken an upward trend since September 5, and these types of wallets perform more transactions than other wallets, while their number is a very small percentage of the total wallets. Swap is the most active wallet activity and about 76% of their transactions are related to swap

flipside

flipside

Terra - Back to Basics: Account Activity

What is Terra? → Source

✍️ Description of Work

🧠 Methodology

“Active Wallets”==: We consider an active wallet when it `has transacted on at least 3 days of the week` and`has transactions on at least 40% of active days`→`(the number of days between the first and last transaction)`.

1️⃣ → Review and analysis of Active Wallets

✅ Observations

✅ Observations

2️⃣ → Review and analysis of Active Wallets by Activity Action

✅ Observations

3️⃣ → Review and analysis of Top Active Wallets by Activity Action

✅ Observations

4️⃣ → Provide a few brief, specific ideas to attract additional users

Here are a few ideas to attract additional ==New Users== to Terra blockchain:

Here are a few ideas to attract additional ==Active Users== to Terra blockchain:

✔️ Final Conclusion

Terra - Back to Basics: Account Activity

What is Terra? → Source​

✍️ Description of Work

🧠 Methodology

“Active Wallets”==: We consider an active wallet when it has transacted on at least 3 days of the week andhas transactions on at least 40% of active days→(the number of days between the first and last transaction).

1️⃣ → Review and analysis of Active Wallets

✅ Observations

✅ Observations

2️⃣ → Review and analysis of Active Wallets by Activity Action

✅ Observations

3️⃣ → Review and analysis of Top Active Wallets by Activity Action

✅ Observations

4️⃣ → Provide a few brief, specific ideas to attract additional users

Here are a few ideas to attract additional ==New Users== to Terra blockchain:

Here are a few ideas to attract additional ==Active Users== to Terra blockchain:

✔️ Final Conclusion

What is Terra? → Source

“Active Wallets”==: We consider an active wallet when it `has transacted on at least 3 days of the week` and`has transactions on at least 40% of active days`→`(the number of days between the first and last transaction)`.