Try Quests to earn crypto> # Question > >
> > # Last week we analyzed how users join pools, single or double-sided, which showed that most users join two-sided. This means that most users are already engaged within the Osmosis ecosystem. 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 the 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? > > ## - Calculate the above from both a volume and # of user standpoint. > > ## BONUS: Post your dashboard on Twitter and tag @flipsidecrypto and any relevant accounts!
Supplementary Information
- Author: NSA2000
- Twitter of the Author: @NSA2000C
- Link to this dashboard’s tweet:
- Discord of the Author: NSA2000#5651
- Data from FlipsideCrypto
Introduction
The emergence of DeFi and the Automated Market-Maker (AMM) led to a new wave of cryptocurrency networks with economic utility and use case applications. From its modest beginning as a tool for decentralizing liquidity pool participation and benefits, AMM has become a critical part of blockchain economic utility, such that the crypto community without AMM would not have had such unprecedented growth.
AMM began with Bancor, a trading and staking protocol with single-sided liquidity. In contrast, Uniswap, a protocol that enabled swapping currencies and provided a base for building decentralized applications, popularized it. Decentralized Exchanges (DEXs) created on the AMM have come a long way. More innovative protocols like the Curve and Balancer have expanded AMM-based DeFi exchanges. However, the ability to modify these DEXes is still limited. The potential for further decentralization of DeFi abound, but existing protocols fail to open the DeFi market to a broader range of DeFi assets.
To further decentralize the DeFi space via the AMM protocol, Osmosis emerged on the DEX scene. Osmosis is an advanced AMM protocol launched using the Cosmos SDK that allows developers to create, design, modify and deploy their customized AMM applications. Osmosis was launched in June 2021. Its primary aim was to provide a sandbox for AMM development that allows developers to replicate individual AMM projects using designs and liquidity pools already existing in the network and giving liquidity providers control over their pools. []
What is Osmosis (OSMO)?
Osmosis is an Automated Market-Making (AMM) Protocol that focuses on interchain DeFi movement and is built on its blockchain via the Cosmos SDK and IBC technologies. As a development environment, Osmosis gives developers the tools to create, design, construct and deploy highly customizable AMMs with on-chain governance capability and various modules.
The Osmosis ecosystem is made up of the following core elements:
- The Cosmos Network: This refers to the sandbox environment, which enables the creation of interoperable decentralized applications.
- Interblock Chain Communication: The IBC passes data between independently distributed nodes on the Osmosis network.
- Tendermint Core: The Tendermint Core is a Byzantine-Fault Tolerant system that enables the creation of blockchains and allows developers to create copies of applications.
- Automated Market-Maker (AMM): The AMM decentralized exchange protocol provides the price mechanism for cryptocurrencies within liquidity pools.
Osmosis is guided by the principles of homogeneity and heterogeneity, which are integrated into its AMM Protocol. Governance plays a vital role in the Osmosis ecosystem. Community stakeholders are empowered to vote and contribute to the system’s planning and implementation of new functionalities.
The native coin of the Osmosis Protocol is the OSMO. OSMO functions as a governance token within the Osmosis ecosystem. Secondly, it is distributed as a reward to liquidity miners and used for setting basic network charges.
In contrast to several other AMM Protocols, Osmosis uses experimentation and a rapid iteration process to configure parameters of Swap Fees, Token Weights, Curve Algorithm, and Average Price Calculator into each liquidity pool.
The founding drive of Osmosis (OSMO) was to deliver an AMM developer environment with flexible and non-traditional tools. Osmosis (OSMO) was created with cross-chain compatibility. The platform was initially IBC compatible alone. However, recent developments have enabled compatibility with non-IBC-enabled chains like the Bitcoin and Smart Contracts Platforms.
A concept central to the community and its functionality is Sovereignty. Sovereignty is ensured by Osmosis’ architectural design and is based on the independence of liquidity providers.
Osmosis caters to the interests of all DeFi stakeholders: delegates, Liquidity Providers (LPs), and DAO. It features complete customizability and self-managed systems, which supports a competitive atmosphere and experimentation. []
Methodology
> # ==The data in this dashboard is obtained from the following tables:== > > * osmosis.core.fact_transactions > * osmosis.core.fact_transfers > * osmosis.core.fact_swaps > * osmosis.core.fact_staking > * osmosis.core.fact_liquidity_provider_actions > * osmosis.core.dim_tokens > >
> > # ==Aim of this Analysis== > > This dashboard aims to investigate the most common ways of entering Osmosis’ users through Axelar (Satellite) or elsewhere as well as the most common transferred assets into Osmosis for the first transfer. Moreover, we will anlyze the first action of users on Osmosis as well as staking, swaps, and LPs.
> # The following charts show the daily and monthly variation of the new users alongside with the cumulative variation of the total users on Osmosis since Jun 2021.
As can be observed from these charts, the number of new users increased from 4.43K on Jul 2021 to its max number on Mar 2022 (128.8K). Then the number of new users shows a significantly decreasing trend from Mar to Nov 2022 (about 10% decrease). However, the number of new users increased on Dec 2022 to about 27.83K. It is worth mentioning that the total number of users is recorded to be about 622.3K since Jun 2021.
> # The following charts show the daily and monthly variation as well as the distribution of the number of transfer transactions to Osmosis according to different chains.
> # The following charts show the daily and monthly variation as well as the distribution of the number of new users according to their first action on Osmosis.
> # The following charts show the daily and monthly variation as well as the distribution of the number of new swap users according to the type of their first ‘swapped to’ asset.
> # The following charts show the daily and monthly variation as well as the distribution of the number of new OSMO LPs according to the first pool deposited.
These charts show that the number of IBC transfer transactions significantly increased after Jan 2022. The max number of IBC transfer transactions is recorded on Mar 2022 (about 584K). As far as the distribution of the IBC transfer transactions according to different chains is concerned, ATOM (1.25M, 22%), EVMOS (808.27K, 14.3%), and JUNO (645.09K, 11.4%) have the upper hand by far. AXL constitutes 0.91% of the total share in this respect.
Regarding the daily and monthly variation as well as the distribution of the number of new users according to their first action on Osmosis, it can be concluded that the first action of new users on Osmosis was mostly swap (345.07K, 64.6%). After swapping, other actions such as staking (88.9K, 16.6%), transferring (63.5K, 11.9%), LPs (36.87K, 6.9%) have attracted the attention of the new users.
According to these figures, as far as the daily and monthly variation, as well as the distribution of the number of new swap users according to the type of their first ‘swapped to’ asset, is concerned, OSMO has the upper hand by far (189.09K, 50.2%). The top 3 most popular ‘swapped to’ assets after OSMO are ATOM (36.05K, 9.57%), NGM (35.6K, 8.92%), and JUNO (17.91K, 4.75%).
Regarding the daily and monthly variation as well as the distribution of the number of new OSMO LPs according to the first pool deposited, pool number 1 has the upper hand by far (59.515K, 74.2%). After that, pools number 497 (4.7%), 562 (2.9%), and 722 (1.72%) are the most popular ones. It must be pointed out that pool number 1 is representing ATOM / OSMO pair.
Summary
> # The aim of this dashboard is to review the most common ways of users entering Osmosis through Axelar (Satellite) or elsewhere as well as the most common transferred assets into Osmosis for the first transfer. > >
> > # The number of new users increased significantly from 4.43K on Jul 2021 to its max number on Mar 2022 (128.8K). > >
> > # The number of new users showed a significantly decreasing trend from Mar to Nov 2022 (about 10% decrease). > >
> > # The number of new users increased on Dec 2022 to about 27.83K. > >
> > # The total number of users is recorded to be about 622.3K since Jun 2021. > >
> > # The number of IBC transfer transactions significantly increased after Jan 2022. The max number of IBC transfer transactions is recorded to be about 584K on Mar 2022. > >
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> # The distribution of the IBC transfer transactions according to different chains shows that, ATOM (1.25M, 22%), EVMOS (808.27K, 14.3%), and JUNO (645.09K, 11.4%) have the upper hand by far. AXL constitutes 0.91% of the total share in this respect.
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> > # It has been concluded that the first action of new users on Osmosis was mostly swapping (345.07K, 64.6%). After swapping, other actions such as staking (88.9K, 16.6%), transferring (63.5K, 11.9%), LPs (36.87K, 6.9%) have attracted the attention of the new users. > >
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> # As far as the daily and monthly variation, as well as the distribution of the number of new swap users according to the type of their first ‘swapped to’ asset, is concerned, OSMO has the upper hand by far (189.09K, 50.2%). The other top 3 most popular ‘swapped to’ assets are ATOM (36.05K, 9.57%), NGM (35.6K, 8.92%), and JUNO (17.91K, 4.75%).
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> # The pool number 1 (ATOM / OSMO) has the upper hand by far (59.515K, 74.2%) according to the daily and monthly variation as well as the distribution of the number of new OSMO LPs by the first pool deposited. Other most popular pools are pools number 497 (4.7%), 562 (2.9%), and 722 (1.72%).