What is NEAR?

NEAR Protocol (NEAR) is a blockchain-based decentralized application platform to power the future open web and serves as a collective, a foundation, and a development platform. Users can create new coins, applications, and industries on this web without the need for a central authority to oversee the process. The platform executes apps that share a secure pool of resources; these applications use data and identities entirely controlled by users. For more information click here.

Introduction:

In this dashboard I am going to be looking at new contracts on NEAR over the last 7 days. I will start by looking at how many of them there are both overall and overtime. I will then transition to see what types of activities these contracts tends to be involved in on the NEAR platform both on the side of the tx_receiver as well as the tx_signer. From there I will focus on two specific actives that contracts are involved in as they tend to be the most common, transfers and FunctionCall events. For transfers I will look into what volumes are being transferred back and forth and what contracts they involve. For FunctionCall events I will be looking at what types of methods are popular for these contracts to interact with. Overall I aim to get a comprehensive understanding of contracts on NEAR and activity surrounding these contracts, I hope you enjoy!

Methodology:

Collect data on new contracts created on NEAR over the last 7 days, including transaction receivers and signers.
Analyze the data to determine the overall number of new contracts and their activities.
Focus on the most common activities, transfers and FunctionCall events.
Analyze transfer volumes and contract involvement, and identify popular FunctionCall methods.
Visualize the findings with charts and graphs.
Interpret the results to gain a comprehensive understanding of contract activity on NEAR.

Section 1:

New Contracts:

In this section I am going to be looking at new contracts on NEAR over the last week as well as the total interactions seen by these contracts over that time period. First if we look at the metric at the top of the page we can see 394 contracts have been deployed over the last week which means roughly 49 new contracts are deployed each day. It appears that contracts on the NEAR ecosystem are pretty active as new ones are constantly being deployed. If we move onto the new contracts daily over the last week we can see that between February 16-19th there were between 57-74 contracts deployed each day highlighting that the amount of contracts deployed is dependent upon the day rather than a consistent amount. If we look at the cumulative new contracts over the last week's graph we can see that it is mostly linear highlighting that although there are fluctuations in the amount of contracts deployed each day there are always a significant amount. If we move onto the final metric in this dashboard at the directly above we can see the interactions with each of these contracts deployed over the last week.As you can see two contracts have received a significant amount more interactions than any other this week which are cellfi01.near and ahmed_almawardy.near which have received 11.3k and 4.1k respectively. The majority of the transactions with cellfi01.near as the tx_signer are “update_oracles” actions. While almost all transactions with ahmed_almawardy.near as a signer are “nft_mint” or “nft_transfer” which means it is likely some sort of NFT project. The rest of the contracts deployed over the last week all have less than roughly 1k interactions with the majority having a significant amount less.

Contract Activity:

Contract Actions:

In this section we are going to be looking at what types of actions are going on when these transactions are the tx_signer. For this analysis we will still just be looking at contracts deployed over the last week. To start, if we look at the graph in the top left corner we can see that the wide majority of transactions end up in two categories, transfers and FunctionCall events. These two categories take up a total of about 35k transactions over the last week which accounts for 91.6% transactions from these contracts over the past week. It is interesting to note that these contracts are involved in a lot of transactions even over a small period of time. If we move onto the graph in the bottom left we can see the daily amount of actions taken by action as you can see a similar breakdown appears with transfer and function call events making up the majority of events each day. It appears that from day to day there is significant variation in the transactions done by these contracts as some days see only a little over 2k transactions while others see over 6k. If we look at the final metric in this section in the bottom right we can see that the percentage in which these actions occur has stayed roughly the same over the last week which highlights that the same contracts likely only repeat one type of action rather than a variation of them.

Contract Transfers To/From:

Transfers Sent:

In this section we are going to be looking at both the transfers sent and received by these contracts over the last 7 days. To start if we look at the graph in the top left corner we can see that on most days the volume transferred was significantly low expect for on February 16th when 19k NEAR was sent from one of these contracts, although it was a combination of contracts involved it was likely a result of loris.near as this contract sent the most overall at 11k over the last week. Moving onto the graph directly below we can see that although there are day to day changes in the amount of transfers sent they remain somewhat similar. Additionally there is not a massive spike in transfers on February 16th which highlights that one or a few users were likely responsible for this spike. Moving onto the graph on the right we can see the amount sent over the last week by contract contracts loris.near, inc-finops.near, and kiwi092020 all sent the most by a large margin with the remaining contracts only sending a fraction of the amount.

Transfers Received:

Moving onto the transfers received by these contracts we can see a similar situation with February 16th seeing a massive spike of over 15k in NEAR volume. Through looking through a handful of these contracts I found that many of them interact with one another which means it is likely that a lot of the volume sent by the other contracts was received by these contracts. Moving onto total daily transfers we can see that it is similar to the graph before with a range of about 1k-3k although it doesn’t vary too much especially compared to the volume graph. Also once again we can see there is not a massive spike on February 16th which highlights likely a few users were responsible for this massive spike in volume. If we look at the final graph in this section on the right we can see that loris.near has the largest volume received of 11k which highlights that loris.near might be transferring within its own contract as the amount sent and received are almost exactly the same. Once again we see kiwi092020 with a large amount of volume as well as storage.herewallet.near with the remaining wallets seeing significantly less volume.

Contract FunctionCalls Actions:

FunctionCall Action:

In this section we are going to be looking at the FunctionCall events taken by these contracts as tx_signers as that is one of the most popular action they are involved in. If we look at the graph in the top right we can see that “update_oracles” is by far the most popular action taken with 3887 transactions in that action, which is likely a result of cellfi01.near which has been seen to be involved in a lot of these actions. After that claim_assignment is the largest with 1566 total transactions with that action. If we look at the pie chart on the right we can see that the top two action make up nearly 55% of all FunctionCall actions taken by these contracts over the past week. It appears that there are a handful of actions taken but many of them have only been taken a few times. Moving onto the final graph in this section we can see the amount of FunctionCall events as well as the type tends to change a decent amount everyday with some days seeing barley of 500 transactions and others seeing over 2k. Overall it appears though the the type stay of FunctionCall stays somewhat similar over time although this does see fluctuation as well

Conclusion:

An average of 49 Contracts were deployed each day last week
Contract cellfi01.near and ahmed_almawardy.near received the most interactions last week with 11.3k and 4.1k respectively.
91.6% of actions taken by contracts as tx_signers are Transfers or FunctionCall events
A total of 34.7k Transfers and FunctionCall events have been taken by contracts over the last week.
On February 16th there was a massive spike in Volume sent in transfers by contracts of 19k
On February 16th there was a massive spike in Volume received in transfers by contracts of 15k
Loris.near the largest sender and receiver of transfers over the last week sent and received roughly the exact same amount highlighting it was sent to its own contract and is responsible for the spike on February 16th
“Update_oracle” is the most popular FunctionCall method taken by contracts with 3887 transactions which is likely a result of cellfi01.near, which has a handful of these transactions.
The two largest FunctionCall methods “Update_oracle” and “Claim_assignment” make up nearly 55% of all function call events taken by contracts.
The FunctionCall events taken each day by these contracts tend to fluctuate significantly in both count as well as type.

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