New and Improved NEAR Labels

    A plethora of new labels have been added to Flipside's NEAR labels table. Using the labels, dive into which specific projects and project types (defi, nfts, etc) generate the most gas fees, have the most users, and have the highest number of transactions per user. Next, dig a little deeper and see if you can find which project types and which projects have the stickiest(repeat) users!

    Introduction:


    In the ever-evolving world of blockchain technology, the NEAR protocol stands out for its innovative approach to scalability and usability. Recently, Flipside Crypto enriched their NEAR labels table with a multitude of new labels, providing us a unique opportunity to delve deeper into the vibrant ecosystem that has taken root on this blockchain.

    In this analysis, we will be focusing on the various projects and project types present on the NEAR blockchain. These include but are not limited to, decentralized finance (DeFi), non-fungible tokens (NFTs), and a host of other innovative applications that are redefining the future of finance and digital ownership. We aim to unearth which of these project types generate the most gas fees, attract the highest number of users, and boast the highest number of transactions per user.

    Beyond the raw numbers, we'll also be looking to identify which projects have the 'stickiest' users, i.e., those users that keep coming back. User retention is a critical measure of a project's success, as it indicates not just initial interest, but ongoing engagement and perceived value.

    Join us as we take a data-driven journey into the heart of the NEAR blockchain ecosystem, shedding light on user behavior patterns, project popularity, and the economic dynamics at play.

    Methodology:


    In this dashboard we are going to be focusing on the near.core.fact_transactions and near.core.dim_address_labels tables. We are going to be focusing on these tables in order to get an understanding for transaction activity both by project type and by the top projects. For this analysis we are going to be focusing in on data over the last year. Overall we plan to see which project types and projects are the most popular on the platform and how that has changed over time.

    Definitions:


    What is NEAR?

    NEAR Protocol is a software that aims to incentivize a network of computers to operate a platform for developers to create and launch decentralized applications. Central to NEAR Protocol’s design is the concept of sharding, a process that aims to split the network’s infrastructure into several segments in order for computers, also known as nodes, to only have to handle a fraction of the network’s transactions.

    About
    Author


    Discord: Mattkstew2418

    Twitter: @Matthew69207967

    Email: Matstewart.668@gmail.com

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