Introduction

What is Harmony ?

What is Harmony(ONE) crypto? Harmony (ONE) is a blockchain-based platform that aims to address the conundrum of achieving both scalability and decentralization without sacrificing either. Harmony (ONE) was launched as part of the Binance Launchpad's initial exchange offering (IEO) in May 2019.

Methodology

• On May 26th there was a drastic drop off in user interaction on Harmony

• We are looking to see what could have been the cause of this change in usage

Harmony Activity Metrics

Observations

• The day number of users who were transacting on harmony dropped over 200,000 to 30,000 on May 25th.

• the total number of swappers on Harmony dropped from 500 to 100 on April 3th This was during the period of time when users started using DFK on Avax.

Observations

• The users who stopped using harmony were very active in locking and unlocking jewel on DFK.

• The users who left Harmony were very active in swapping DFKTEARS and DFKSHAVA both of these assets are involved with defi kingdom.

Observations

• over 99% of the users who stopped using Harmony on May 25th were not bots. In this case a bot is defined as a users who has over 200 transaaction in a day.

• Of the addresses that have stopped using Harmony in late May many of them have also been using ethereum much less since April of 2022.

Harmony inactive user Metrics

Conclusion

• The drop in active users from May 26th to 27th was about 150,000 Users. This drop is not an uncommon daily drop on harmony happening at least doesn timest since the start of the year.

• The users who stopped using Harmony in May of this year were locking and unlocking JEWEL often and swapping a lot of Defi Kingdom assets, These users probably have been trending off harmony to the DFK new subnet.

• of the users who left, the vast majority of them seemed to be real users. The users who stopped with Harmony in may 2022 also have had more than 50% less interactions on Ethereum, so many of these users leaving the chain should be leaving due to the bear market and more of Defi Kingdoms.

The transactions groups above are buckets of event types. For example, event type 'calim' and 'claimed' are both lumped into the same category.