Try Quests to earn cryptoSolana - Genopets Staking
Q78. Genopets is a move-to-earn game reminiscent of Pokemon Go on Solana. Create a visualization showing the amount of staked GENE over time. How many unique wallets have staked $GENE since its inception on May 18th? What percentage of those stakers have previously purchased a Genopets NFT? What trends are you seeing with the Genopets NFT collection?
Date: 2022-06-01
Methods
- In this analysis I investigate the amount of staked $GENE, unique wallets and wallets purchasing NFTs before the start of staking
- Query data from solana.fact_transactions, solana.fact_events, solana.dim_labels, solana.fact_nft_sales
- All data for staking is from between May 18th, 2022 and June 1st, 2022
- All data for NFT purchases is from before May 18th
- NFT Limitations: Only NFTs with label 'Genopets Terraform Seeds, genopets and genopets token' are taken into account
What is GENOPETS?
https://www.genopets.me is a Move-to-Earn mobile RPG game, based on the Solana Blockchain. It rewards people for moving and transforms movement into an upgrade to you Genopets NFT.
Around 577k $GENE, of a total of 100 Million $GENE, are staked since May 18th.
Most $GENE, 247k, was staked on May 19th and not on 18th where the staking started. This is because of the different timezones as all data here is stored in UTC and the start was close to midnight, as we can see in the chart below!
To date 4710 unique wallets have staked $GENE!
The chart above shows, that most wallets staked their $GENE on May 19th and not on May 18th where the staking started. After the 19th the number has strongly decreased.
While doing my explorative data analysis on staking amounts, I discovered a huge transaction with around 95.9 Million $GENE tokens on May 18th in solana.fact_transactions. As this is 96% of the total $GENE token supply, I decided to exclude this transaction and solana.fact_transactions from my analysis. I proceeded with solana.fact_events
Because of limitations in velocity (solana tables) we can only see NFTs with label 'genopets token' and 'Genopets Terraform Seeds'. It seems like the seeds are way more popular than the other.
We can see a massive spike on April 27th. On this day the Genopets Game Mechanics Litepaper V1.0 with a lot of upcoming features (as the staking) was released, as we can see from the twitter message below.
Only 193 of the 4710 wallets have already bought NFT before May 18th. That is only 4.1% of all wallets. It looks like all other wallets are new to Genopets and were attracted by the possibility of staking.(This may not be entirely accurate, as we are currently unable to verify all NFT purchases in velocity.)
Conclusion
- Only 577k $GENE, of a total of 100 Million $GENE, are staked by 4710 wallets till today.
- Only 4.1% of these wallets are 'old' wallets with already were interested in Genopets (and bought NFTs), that means 4517 new wallets were attracted by staking.
- 'Genopets Terraform Seeds' seem very popular.
Thanks for reading!
This analysis was created on 2022–06–01 for a bounty at Flipside Crypto by piper to answer the following questions:
Solana - Genopets Staking: Q78. Genopets is a move-to-earn game reminiscent of Pokemon Go on Solana.*
All data used are from Flipside Crypto. Flipside Crypto