Introduction and methods

Osmosis is a network, developed through the Cosmos SDK (software development kit), using the infrastructure provided by this giant, which seeks to be a bridge between the different blockchains of this ecosystem. In addition, it provides service to projects connected through the Interblockchain Communication Protocol (IBC).

Recently, Osmosis experimented a growth in terms of activity that made them a competitor for other chains. In this dashboard we are gonna calculate the deposit rate of wETH over time on Osmosis. Furthermore, we are gonna compare the numbers against Sushiswap and Thorchain blockchains. Finally. we will take a look at the different deposit rate when wETH was relatively new asset.

Results

In this first chart we can see the volume deposit rate on wETH since its inception. It is clear that both, the volume and the average experimented a growth during May, just after the UST depegging event. While the daily numbers were so low during the first days with no more than 1WETH, during May it increased to more than 100 and some days reaching more than 400 WETH! As well, the average deposit rate increased from beow 0.01WETH to a threshold of 0.15WETH.

Comparing the numbers from when the wETH was a new asset and after that period, we can see how the average deposit rate per transaction passed from 0.06 to 0.75wETH and the average daily volume from 0.3 to 60wETH. It is due to the increase of activity during May.

Comparing the Osmosis rates against Sushiswap and Thorchain, we can see how the rates on Sushiswap are extremelly higher to be compared with Osmosis and Thorchain chains. However, it can be seen how Thorchain and Osmosis have similar numbers. But during May, we can see as well the increase on the Osmosis activity surpassing the numbers on Thorchain ETH.ETH pool.

In terms of daily volume increase rate, considering the difference between one day and other, the numbers are similar for all three platforms.

Finally, comparing the cumulative volume deposit rate per platform, it can be seen in this case, the platform with the highest numbers has been Thorchain followed by Osmosis. But the difference between Thorchain and the rest of the networks are prominent.

Conclusion

In this dashboard we have studied the deposits of wETH on Osmosis and we have compared it against Sushiswap and Thorchain. The main insights are:

• The activity on Osmosis increased during May after the UST depegging event
• The deposit rate numbers are higher when wETH is not considered a new asset
• The daily volume of wETH is higher on Sushiswap
• The volume increase rate is similar on all the platforms: Osmosis, Sushiswap and Thorchain