User Segmentation Analysis

    As “the largest interchain DEX,” Osmosis seeks to compete directly with the user experience of centralized exchanges, such as Coinbase and Binance.

    Established in 2021, Osmosis is a multi-chain AMM built for the Cosmos ecosystem. The DEX offers interoperability between blockchains using Inter-blockchain Communication Protocol (IBC) and Axelar, which facilitate the connection of blockchains within a decentralized infrastructure.

    By using Cosmos and its cross-chain communication capabilities as a base, Osmosis can offer far broader swapping options to its users, despite having no centralized entity to manage the platform.

    By leveraging the Cosmos blockchain, Osmosis enables communication and composability between tokens from different blockchains.

    It can handle trades between any of the 47 separate blockchains within Cosmos, all within the same DEX protocol. For users, this means a vastly bigger market for trading: the market cap of all the projects in the Cosmos ecosystem provides a potential marketplace of $58.7 billion.()

    In this bounty we were asked to answer these questions:

    • The most common ways of entering Osmosis (Axelar (Satellite) or elsewhere)
    • The most common asset transferred into Osmosis for first transfer
    • 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?
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    As you see above, the highest share of ==transactions which was a bridge from other chains to Osmosis==, was from Cosmos, Evmos and Juno respectively. About 47% of bridge transactions to Osmosis was from these 3 chains.(more than 21% of transactions was from Cosmos)

    The highest share of ==users which was bridged asset from other chains to Osmosis==, was from Cosmos, Evmos and Juno respectively. About 47% of users which bridged asset from other chains to Osmosis was from these 3 chains.(more than 29% of users bridged from Cosmos)

    The highest share of ==transactions which bridged an asset from other chains to Osmosis==, bridged Atom, Evmos and Juno respectively. About 50% of bridge transactions to Osmosis was for bridging these 3 assets.(more than 24% of transactions bridged Atom)

    The highest share of ==users which bridged an asset from other chains to Osmosis==, bridged Atom, Evmos and Juno respectively. About 53% of bridgers to Osmosis, bridged these 3 assets.(more than 34% of bridgers, bridged Atom)

    As Cosmos, Evmos, Juno, Chihuahua, Stargaze and Terra were the top sources of bridge transactions to Osmosis, in the chart before the last one above, you can see the ==top bridged assets from these top sources:==

    Atom was the main asset that bridged from Cosmos to Osmosis. This asset was most bridged from this source in comparison with other sources.

    Evmos was the main asset that bridged from Evmos to Osmosis. This asset was most bridged from this source in comparison with other sources.

    Juno was the main asset that bridged from Juno to Osmosis. This asset was most bridged from this source in comparison with other sources.

    ==So, we can see that the main token of each chain, was the most swapped asset to Osmosis from that specific chain.==

    If we check the activity of transferers to Osmosis, we can see that in their first experience of transfer, most of transactions was by far transferring Atom. Evmos and UMEE were in the next ranks.

     

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    As I said in the previous part, first time transferers transfer Atom more than other assets, based on count of transactions for transfered assets to Osmosis. In this part, we checked the first action of these transferes to Osmosis.

    As you see above, most of them did a swap as their first action on Osmosis. Count of users who stake an asset on Osmosis as their first action was less than 1/3 of users who did a swap as their first action on Osmosis.

    If we check the action of users in each month on Osmosis, we see that count of first time users on Osmosis grew sharply in the first 3 months of 2022 but decreased sharply from April.

    In the first 3 months of Osmosis activation and also Dec 2022, count of users who transferred asset as their first action on Osmosis, was in the second rank of top actions.

    Count of users who did stake as the first action on Osmosis, increased sharply in the first 3 months of 2022, but after that decreased sharply. Count of users who provided liquidity as the first action on Osmosis, had a similar too. This action was the least popular action among first time users of Osmosis, in all the months.

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    In the above charts, you can see the top assets that first time users of Osmosis, swapped to and swapped from them.

    As you see, most of first time users, swapped from Atom, Osmo and Ngm, respectively. Count of users who swapped from Atom in their first action is more than 3 times bigger than first time users who swapped from Osmo.

    In the monthly analysis of first time swappers, we can see that count of users who swapped from, increased sharply in the first 3 months of 2022. The most swapped from asset in all the months was Atom. Swapping from HUAHUA increased sharply from Jan 2022.

    The highest volume of swapping from, was on Oct 2021. This volume was more than 405M(402 M of this volume belongs to swapping from Atom), while in other months this volume was less than 50 M. In all the months except Oct 2021, the highest volume of swapping from for first time swappers, belongs to Osmo.

     

    Most of first time users, swapped to Osmo, Atom and Ngm, respectively. Count of users who swapped to Osmo in their first action is more than 5 times bigger than first time users who swapped to Atom.

    In the monthly analysis of first time swappers, we can see that count of users who swapped to, increased sharply in the first 3 months of 2022. The most swapped to asset in all the months from Sep 2021, was Osmo. Swapping to Juno and NGM increased sharply from Jan 2022.

    The highest volume of swapping to, was on Jan 2021. This volume was more than 45M, 35 M of this volume belongs to swapping to Osmo. In all the months from Oct 2021, the highest volume of swapping to for first time swappers, belongs to Osmo. Volume of swapping to Juno increased Sharply until April 2022, but for Atom, this volume decreased from Jan 2022.

     

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    In the last part we were asked to check the next action of users who first swapped on Osmosis. We had to check how many of them did transfer transactions and how many of them provided liquidity after swapping.

    As you see, count of users and transactions that transferred their asset out of Osmosis after their swap was bigger than count of users and transactions that provided liquidity after swap transaction on Osmosis.

     

    The most assets that were swapped for them to transfer out of Osmosis, were Juno and Atom(based on count of users and transactions). More than 20 K and 18 K transactions, swapped and transferred out these assets respectively. USTC and HUAHUA were in the next ranks.

    Count of this kind of transactions increased sharply until April 2022, but from April, this kind of swap and transferring out transactions decreased sharply. It got ¼ from March to April 2022. Count of transactions that swapped for JUNO and transferred it out, increased sharply in the first 3 months of 2022. The highest count of transfers for HUAHUA was on March 2022.

    Volume of this kind of transactions increased sharply until Jan 2022, but from Jan, volume of this kind of swap and transferring out transactions decreased sharply. It got less than half from March to April 2022. Volume of transactions that swapped for JUNO and transferred it out, increased sharply in the first 3 months of 2022. The highest volume of transfers for Atom was on March 2022. So, Juno, Atom and SCRT had the highest volume of swap for and transferring out of Osmosis, respectively.

    The most assets that were swapped for them to provide liquidity on Osmosis, were Osmo and Atom(based on count of users and transactions). More than 49 K and 9K transactions and users, swapped and provided liquidity for these assets respectively.

    Count of this kind of transactions increased sharply until Jan 2022, but from Jan, this kind of swap and providing liquidity decreased sharply. It got ¼ from March to April 2022.

    Volume of this kind of transactions increased sharply until Jan 2022, but from Jan, volume of this kind of swap andproviding liquidity decreased sharply. It got less than half from March to April 2022. Volume of transactions that swapped for Osmo and provided liquidity, increased sharply in Jan 2022. The highest volume of providing liquidity for Atom was on Jan 2022, too. So, Osmo, Atom and Juno had the highest volume of swap for and providing liquidity on Osmosis, respectively. More than 98% of volume of swapp for and providing liquidity belongs to Osmo.

    Conclusion 

     The highest share of transactions which was a bridge from other chains to Osmosis, was from Cosmos, Evmos and Juno respectively.

    The highest share of users which was bridged asset from other chains to Osmosis, was from Cosmos, Evmos and Juno respectively.

    The highest share of transactions which bridged an asset from other chains to Osmosis, bridged Atom, Evmos and Juno respectively.

    The highest share of users which bridged an asset from other chains to Osmosis, bridged Atom, Evmos and Juno respectively.

    The main token of each chain, was the most swapped asset to Osmosis from that specific chain.

    Most of first time transferes, transferred Atom to Osmosis.

    Most of first time transferers did a swap as their first action on Osmosis.

    Count of users who stake an asset on Osmosis as their first action was less than 1/3 of users who did a swap as their first action on Osmosis.

    Most of first time users, swapped from Atom, Osmo and Ngm, respectively.

    Most of first time users, swapped to Osmo, Atom and Ngm, respectively.

    Count of users and transactions that transferred their asset out of Osmosis after their swap was bigger than count of users and transactions that provided liquidity after swap transaction on Osmosis.

    The most assets that were swapped for them to transfer out of Osmosis, were Juno and Atom(based on count of users and transactions).

    Juno, Atom and SCRT had the highest volume of swap for and transferring out of Osmosis, respectively.

    The most assets that were swapped for them to provide liquidity on Osmosis, were Osmo and Atom(based on count of users and transactions).

    Osmo, Atom and Juno had the highest volume of swap for and providing liquidity on Osmosis, respectively.

    More than 98% of volume of swapp for and providing liquidity belongs to Osmo.

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