DEX Change

    This week has highlighted the need for transparency & decentralization in crypto markets. Let's see how users have reacted to this wild week in Web3. Have behaviors changed? Analyze growth in Osmosis Volumes & User Count this week. Has more money flowed into Osmosis this week compared to the past few weeks/months? Where is this money coming from? Centralized Exchanges? Have wallets moved more into stables?

    INTRODUCTION


    Based on the definitions provided by Cosmos Whitepaper, Cosmos is a network of independent parallel blockchains that are each powered by classical BFT consensus algorithms like Tendermint.

    So Cosmos Network is a decentralized network of independent, interoperable and scalable blockchains, creating the foundation for all of the blockchain services.

    Before Cosmos, blockchains were unable to easily communicate with each other and this communication is done by bridges. They were hard to build and could only handle a small amount of transactions per second. Cosmos was able to solve these problems by using its special capabilities.

    It's been a hectic few days in crypto, especially when it comes to FTX. in past weeks This time it’s FTX—the fourth largest crypto exchange in the world—which until just last week was considered to be an industry stalwarts. In a rapid series of events that unfolded largely on Twitter, FTX has agreed to sell a large part of its operating business to rival Binance after a wave of withdrawals threatened to take FTX down.

    Facing a rapidly worsening liquidity crunch, FTX had little choice but to find a suitor to save the business. At the heart of the issue is FTX’s native token, FTT, which has been eviscerated in a huge sell-off, plunging more than 80% in the past few days.

    in this dashboard were gioing to check about consequences of this incident on Osmosis and see how users have reacted to this wild week in Web3. Have behaviors changed? Analyze growth in Osmosis Volumes & User Count this week. Has more money flowed into Osmosis this week compared to the past few weeks/months? Where is this money coming from? Centralized Exchanges? Have wallets moved more into stables?

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    A quick look at the graphs shows that both Number of swaps and also Volume of them get increased after FTX colapse. On November 8th, the number of swaps, which had been moving with a constant trend, suddenly jumped by a third, from 44K to 67K.

    About volume of swaps we can see it has more than doubled from 9.7M to 27.9M.

    Although these increases were not very stable and decreased in the following days, the Average number of swaps and their volume were higher in the days after the FTX collapse and had growth.

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    About the users who participated in these swaps we can say not much has changed and number of swappers following the trend that have before FTX collapse. average number of swappers get about 10% higher higher after FTX collapse and reach to11K.

    This result also applies to new users and Average number of new users who use Osmosis Dex Swaps for first time get 8% decreased. but in daily basis we can see it has maintained its previous trend.

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    By examining the graphs of the volume of transactions in two periods before and after FTX collapse, it can be concluded that after the collapse, the volume of medium-sized transactions has increased. However, large transactions still retain their power and has highest percentage. Distribution of Number of transactions also confirms this and it can be seen that the number of transactions below 100$ has decreased after the collapse.

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    Regarding the number of Incoming Transactions to the network, it should be said that after the FTX collapse, there is a slight increase in the number of transactions, which is the highest number on November 10 with 20K transactions. Also, the average number of incoming transactions has increased from 12K to 14K per day. About Outgoing Transactions we can see sharper trends after FTX collapse. Outgoing Transactions from 14K reach to 17K in first two days. Also average number of outgoing transaction in Osmosis from 15.K reach to 17K per day.

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    Swap Numbers and Volume:

    Swappers and New Users:

    Swap Demographic Distribution:

    Incoming and Outgoing transfer Numbers:

    Incoming and Outgoing transfer Volumes:

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    Contrary to the Number of Transactions, the Volume of Transactions in both Incoming and Outgoing Transaction had sharper trends. incoming volume to Osmosis has sharp rise in firs days of FTX collapse and from 0.9M in November 7th reach to 4.6M in November 9th. Although it has returned to its original trend after the 9th, and after that it decreased rapidly. we can surely say this decrease is the result of sharp drop in the price of tokens due to market conditions after FTX collapse. checking the average volume of incoming to Osmosis fully confirms this. average volume of Incoming Transactions from 1.98M reache to 1.74M in a day.

    These sharp trends after FTX collapse and decreasing in continue can be measured in Outgoing Transactions too. volume of Outgoing Transactions has increased from 2.2M on November 7th to 4.9M on November 9th. but in 3 days reach to 1.3M and kept this downtrend.

    Swap To Stable coins:

    Conversion of high-risk assets to stablecoins is one of the things that can be predicted in these market conditions, and the charts above can show this very well. Although the number of active swappers has not changed much and has decreased over time, there have been sharp trends in the number of transactions and the volume of transactions that have been made in order to change assets to stablecoins. November 9th can be named as busiest day of swapping assets to stable coin which volume of these changes get 4 time bigger relative to the last day before FTX collapse and from 2.8M get to 11.5M per day.

    Swap From Stable coins:

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    Conversion of stablecoins to other assets had it sharp trends in a week after FTX collapse too. first high trend can be seen in the number of the swappers that was be untouched in swapping other assets to stable coins. number of swappers from 1.5K in last day before collapse get to 2.6K in first day after it. so we can say it has a sharp trend which continue until November 11th. number of swaps in this case get 3 times more than before collapse and have extremely grown in first week after collapse. Volume of swaps from 2.2M in last day before collapse get to 9M after collapse that show highly increase.

    METHODOLOGY


    in this dashboard we want to find several [parameters about users behavior and mony flow on osmosis so we should going to check different parameters on Osmosis Data base. these parameters can give us a clear sight that we need:

    • Swap Numbers and Volume
    • Number of Swappers and New Users
    • Demographic Distribution of Swaps
    • Incoming/Outgoing transfer Numbers and Volumes
    • Swap to/from Stabelcoins

    to find these information we use diffrerent tables on Osmosis database like osmosis.core.fact_swaps and osmosis.core.fact_transfers For number and users and also osmosis.core.dim_prices and ethereum.core.fact_hourly_token_prices used for finding prices and volume of swaps and transfers. for finding volume we use Ali3N query conditions to find exact price of these tokens.

    In the following, we will explain the examined items in full:

    CONCLUSION


    In this dashboard, we investigated the behavior of users after the FTX collapseو and we examined this issue by checking various information specific to the Osmosis network. The following can be presented as a summary of the observations we saw in this dashboard:

    • Volume and Number of swaps increased after FTX collapse. specialy we can saw hightrends in first week after collapse.
    • Number of swappers and also new users who run their first swap on osmosis almost leave untouched and theres no trend between before and after FTX collapse.
    • Both in before and after collapse most of the swaps consisted of large size transactionn but in time frame of after collapse medium transactions has grown.
    • After FTX collapse number of incoming and outgoing transfers are increased whit soft trend.
    • After FTX collapse incoming transfers to Osmosis heavily increased in first week and after that decreased rapidly
    • After FTX collapse outgoing transfers from osmosis increased too but decreased rapidly.
    • Daily Average Volume in both incoming and outgoing transfers in after FTX collapse are lower than this value before FTX collapse.
    • Volume of the Swap from other assets to stablecoins greatly increased in first week after FTX collapse and from 2.8M in last day after collapse reach to 11.4M in first day after collapse.
    • Number of the Swap from other assets to stablecoins increased from 8K in last day after collapse reach to 17K in first two days after collapse.
    • Number of the Swappers from other assets to stablecoins remained almost untouched after collapse.
    • Volume of the Swap from stablecoins to other assets increased from 2.2M in last day after collapse reach to 9M in first day after collapse.
    • Number of the Swap from stablecoins to other assets increased from 5.6K in last day after collapse reach to 16.1K in first two days after collapse.
    • Number of the Swappers from stablecoins to other assets from 1.5K user reached to 2.6K in first day after collapse.