What is Osmosis?

Osmosis is a DEX blockchain that's a zone of the Cosmos Hub ecosystem, thus making it compatible with networks using the Inter-Blockchain Communication (IBC) protocol, like Terra. Osmosis has a customizable AMM that's different from ones like Uniswap and Curve because it allows users to deploy sovereign liquidity pools. This means that each Osmosis liquidity pool is like an independent decentralized autonomous organization (DAO), where liquidity providers can vote to change the parameters of the AMM formula for their pool.

Methodology:

In this dashboard I am going to be diving into all of the question listed about. I will look at them both from a current overall perspective and overtime in order to get a sense for how Osmosis has changed over time in these areas and where they stand today. I will then discuss these metrics in detail and provide any insights I find particularly valuable for the reader. I will then end off with a conclusion where I sum up all my most important points.

Metrics:

1. Total Transfers Into Osmo By Chain
2. Percent of Total Transfers Into Osmo By Chain
3. Weekly Total Transfers Into Osmo By Chain
4. Percent of Total Transfers Out of Osmo By Chain
5. Total Transfers Out of Osmo By Chain
6. Weekly Total Transfers Out of Osmo By Chain
7. Top 10 Most Common Assets Transfered Into Osmosis for First Transfer
8. Weekly Transfers of the Top 10 Most Common Assets Transfered Into Osmosis for First Transfer
9. Total First Events Taken on Osmosis By Event
10. Daily First Events Taken on Osmosis By Event
11. Second Events Taken By Users Whose First Event is a Swap
12. Pie Chart of Second Events Taken By Users Whose First Event is a Swap
13. Daily Second Events Taken By Users Whose First Event is a Swap
14. Transfer Type of Users Whose First Event was a Swap Followed by a Transfer
15. Top 25 Tokens Transferred Out After Being Swapped For
16. Pie Chart of Top 25 Tokens Transferred Out After Being Swapped For
17. Pie Chart of Top 25 Pools LP'd In After Being Swapped For

Entering Osmosis:

In this section we are going to be looking at what chains users are entering osmosis from. To start lets look at the metric in the top right corner from this we can see that the three most popular chains by a large margin to enter Osmosis from are Cosmos, Evmos, and Juno. There are a handful of other chains that users enter Osmosis from but these are the most common. If we look at the graph to the right we can see that over 50% of wallets enter Osmosis from one of these three chains which equates to over 3.3 million total wallets. If we move onto the graph directly above we can see how this has changed overtime. As of recent that amount of wallets entering Osmosis has stayed pretty consistent at roughly 100k per week. Although we can see changes in where they are entering from, earlier in the year cosmos seemed to be the most popular by a large margin but starting around July of 2022 the amount of wallets entering from Cosmos began to decrease and the amount entering from Evmos began to increase significantly. Even though the amount of wallets entering Osmosis has been somewhat consistent since July of 2022 we can see that as of recent it has been on somewhat of a downward trend.

Leaving Osmosis:

In this section we are going to be looking at what chains users go to when leaving Osmosis. Let’s first take a look at the graph in the top right corner here we can see that the two most popular chains to leave to are Cosmos and Juno with Evmos although being one of the most popular chains to join Osmosis from appears to be much less popular to go to after leaving Osmosis. The Top two chains Juno and Cosmos make up over 42% of all chains users go to when leaving Osmosis and account for roughly 2.6 million in wallets. If we look at the graph directly above we can see users leaving Osmosis over time and where they go. As you can see it appears that users have been leaving Osmosis less than they were earlier in the year and similar to the graph we saw earlier the amount leaving weekly has become pretty consistent with around 80k wallets leaving weekly. It appears more wallets are transferring into Osmosis on a weekly basis then transferring out of Osmosis highlighting overall growth for the platform.

First Transfer:

In this section we are going to be looking at the most popular assets transferred into Osmosis for users first transfer into Osmosis. Let’s first draw our attention to the graph on the left where we can see the most common asset transferred into Osmosis by a large margin is uatom followed by aevmos and uumee in much smaller proportions. This makes a lot of sense after looking at the last section as Cosmos is one of the most popular chains to transfer from and there native token is ATOM. It is interesting that uatom is so much more popular as a first transfer as opposed to aevmos and ujuno as the chains corresponding to those coins also are very popular chains for users to use when entering Osmosis as seen in the previous section. If we move onto the graph on the right we can see that as of late it appears the amount of users transferring assets into Osmosis has gone down by a large margin from highs of over 20k in a week around March of 2022 to around 2k-4k a week more recently. Another trend I notice is that right around when evmos became a more popular chain to go onto Osmosis from aevmos became a significantly more popular coin as a first transfer to Osmosis.

Events Taken:

In this section we are going to be looking at the first event taken by users when entering Osmosis, as well as the second event taken by users whose first event taken was a swap. First lets look at the graph in the top right corner we can see that the majority of users, around 375k, decide to swap as there first event on Osmosis If we look at the graph to in the top left we can see that this trend has held up overtime with swaps consistently being the most common event taken by first time users. If we look at the graph in the top right again we can see that the majority of new user activity took place between January of 2022 and May of 2022 after that it began on somewhat of a downward trend that continues into the current date. Although Swapping is very popular it appears staking is also pretty popular to as a first event on Osmosis with several periods seeing massive spikes in first time users staking. If we move onto the next part of this section we can see what users tend to do as there second event after swapping. If we look at the graph in the middle right we can see that the majority of users make a transfer after they make a swap followed by LPing as the second most popular event. In fact if we look at the graph directly to the right we can see that users who swap as there first event make either a Transfer or LP 80% of the time. If we look at the graph directly above we can see that earlier in the timeline LPing was much more popular took up the majority of second actions for swappers but later in the year starting around January of 2022 users who made a swap as there first event started to make a transfer as there second event the majority of the time. Overall swapping is the most popular first event for users on Osmosis and of the users who swap as there first event they are very likely to either LP or make a transfer after as there second event.

Transfers and LPs:

In the last section we looked at what users second event was after they had swapped as there first event on Osmosis and we found that the most popular events are transfering and LPing. In this section we are going to look at what Pools those users LP’d in and what tokens those users transferred after they made an initial swap as there first event. First lets take our attention to the graph in the top left corner here I graphed what type of transfers users made after swapping as there first event, it appears that only by a slight margin do users trade within Osmosis as compared to Transferring out of Osmosis after making a swap. It is interesting to see that nearly half the time users make a swap on Osmosis as there first event and then there second event is swapping that token out of Osmosis. If we move onto the graph in the middle above we can see the most common assets swapped for and then transferred out. As you can see the most popular two assets by a significant margin are ATOM and JUNO which makes sense as these are some of the most popular chains that interact with Osmosis as we have seen several times in earlier sections. If we look at the graph in the top left we can see this same breakdown in a pie chart, and it appears that ATOM and JUNO alone make up nearly 40% of all the assets swapped for and then transferred out of Osmosis. Finally lets look at the graph to right where we can see what pools are most commonly LP’d in after a users makes a swap as there first action. As you can see the most popular pool by a large margin is Pool 1 which has almost 30% of all the LPers after they make a swap. After that many of the other pools share much less of a margin of the total users with percentages going down significantly.

Question:

Let's analyze a typical user journey through Osmosis. Analyze the following:

• The most common ways of entering Osmosis (Axelar (Satellite) or elsewhere)
• The most common asset transferred into Osmosis for first transfer

Stay or leave:

• What do wallets do when they first come to Osmosis?
• Join to swap and then transfer that asset out?
• Join to stake OSMO?
• Join to swap and then LP?
• Which assets are most commonly swapped for and transferred out?
• Which assets are most commonly swapped for and then LP'd?

Conclusion:

1. Cosmos, Evmos, and Juno are the three most popular chains for users to enter Osmosis from and account for over 50% of the wallets entering Osmosis.
2. Cosmos and Juno are the most popular chains for users to leave Osmosis to and make up over 42% of the wallets leaving Osmosis.
3. On a weekly basis around 100k wallets transfer assets into Osmosis and around 80k transfer assets out of Osmosis.
4. The most common asset transferred into Osmosis as a first transfer is uatom by a large margin.
5. The most popular first event taken by users on Osmosis is swap, which has stayed consistent overtime.
6. The Majority of new users activity on Osmosis took place from January of 2022 to May of 2022.
7. 80% of users whose first event was a swap on Osmosis have a second event of LPing or Transfering.
8. Of users whose first event was a swap and second event was a transfer roughly 50% of the time it is a transfer within Osmosis and the other 50% of the time it is a transfer out of Osmosis.
9. Roughly 40% of users who first event was a swap and second event was a transfer out transferred out either ATOM or JUNO.
10. 27.5% of users whose first event was a swap and second event was an LP LP’d in Pool 1 the rest of the pools were LP’d in small percentages.