Goal:

discussion about the number of active users in the osmosis network and its spikes.

Question:

• How many unique wallets are active on Osmosis per day?
• How has this changed over time?
• What has been the largest event that has brought the most wallet activity to Osmosis?

Solution:

My assumption is the users who make transaction are active users.

To find the number of active wallets I used osmosis.core.fact_transactions table and count the unique tx_from addresses.

The next chart, show the number of active unique wallets per day on Osmosis network.

As you can see, the number of daily active users at the end of August 2021 was about 5,000. Then by the end of 2021, it reached about 13,000.

But since the beginning of 2022, we have seen a sharp increase in the number of daily active users of the Osmosis ecosystem. This growth was so great that the number of users increased from 13,000 per day to 61,000.

This upward trend continued until almost the end of April, but after that, the number of active users decreased, and now about 30,000 users use this network daily.

The above chart is a cumulative of the number of active unique wallets on Osmosis.

If we compare the chart of the number of daily active users with the token price of this network, ie OSMO, we see that wherever the token price has increased, the number of network users has also increased. For example, in early September 2021 or January 2022

In addition I found some update that seems affected on increasing users:

v4.0.0-rc1 - Sep 18, 2021

This change primarily brings numerous stability improvements to the chain. It brings with it faster epochs, and improved computation time for various on-chain operations, and fixes to the high gas amounts needed for bonding and unbonding txs.

The features of this upgrade are:

• Fixing gas issues for bonding and unbonding tokens (NOTE: issues at epoch of there just being super high amounts of activity may still persist, with it taking seconds for txs to get into a block)
• Removing the need for users to withdraw locked tokens once they are finished unlocking
• Adding a governance parameter for a minimum fee to create a pool.

v6.0.0 (Boron-11) - Dec 16, 2021 - Height 2464000

This upgrade fixes a bug in the v5.0.0 upgrade's app.go, which prevents new IBC channels from being created. All existing IBC channels are believed to be fine.

This binary is compatible with v5.0.0 until block height 2464000, estimated to be at 4PM UTC Monday December 20th. All nodes must upgrade to this binary prior to that height. This upgrade is intended to be voted in by on-chain governance, but to otherwise be used in place of v5.0.0 at all times.

enable to staking OSMO tokens

Osmosis will also be releasing its version of Liquid Staking, called Superfluid Staking. This will allow OSMO holders to use their tokens for staking and liquidity providing at the same time as well as ensuring that the protocol’s governance serves the interests of liquidity providers.

an important event that I found that has a great impact on this network is Superfluid Staking.