Metamask Interactions

    In this dashboard, we will look at the interactions made my Metamask Users, the most popular contracts they interact with and the most common events they tend to emit.

    We will define a Metamask user as any user who has made a swap by using the MetamaskSwapRouter deployed in 0x881d40237659c251811cec9c364ef91dc08d300c. For each user, the contracts they interact with is obtained from ethereum.core.fact_transactions table. Similarly, ethereum.core.fact_event_logs can be used to find the most common events emitted from the transactions of these contracts.

    First let us look at the Contracts.

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    Overall,

    • Uniswap v2 comes the first in terms of contract interactions.
    • Opensea comes second, followed by stablecoin of choice USDT
    • Metamask itself comes 4th.
    • Uniswap v3 comes 5th after which its mostly tokens.
    • Apparently, interaction with DeFi contracts is generally less as they require fewer transactions.
    • Uniswap DEX seems to be the most common DeFi construct amongst these users
    • Other than that, most of the protocols and tokens here are centralized entities, which might be saying something.
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    Plotting daily data since start of 2022:

    • Opensea has been the most common contract most data, putting up 5 times the volume of the 2nd highest used contract
    • In almost all days, Metamask makes it into top 5
    • Other than Opensea, the remaining 4 places tend to share similar transaction volumes.

    Let us now look at the Events emitted as these users are interacting with the blockchain.

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    • As expected Transfer events are the most popular as they involve transfer of assets, be it ERC20 token or ERC721 NFTs. Interacting with DeFi involves token transfer, hence it can be expected that every transaction would involve these.
    • Approval comes next, as it allows contracts to use the Tokens on your behalf
    • Swap, Sync are essential events from DEXes. Swap indicates a swap being made. Sync indicates the current state of the Liquidity pool balances.
    • Deposit, Withdrawals are necessary for depositing funds into contracts. These involve staking deposits, collateral deposits and so on
    • OrdersMatched is an event emitted by Opensea to signify the sale of NFT, given the popularity of Opensea in the previous sections, its weird that its this low.
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    The trends from overall were expected to continue into the daily plots with Transfer and Approval events lead the lot. Interestingly we can see the OrdersMatched from Opensea pop up higher here suggesting that OrdersMatched is from the rather newer iteration of Opensea contracts

    As an added bonus, let us look into the Transaction distribution of these wallets. We will grab the transaction count for each user using ethereum.core.fact_transactions and then for each transaction count bucket, we will find the number of users falling into that bucket.

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    • As expected more than 300,000 users, which around 1/3 of the total Metamask user fall into the less than 10 transaction category.
    • There is just one anomaly in the whole plot, an user with over 7 Million transactions.
    • The next highest comes around the 10,000 mark.