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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 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
What is Osmosis?
Osmosis is a cross-chain automated market maker (AMM) protocol created using the Cosmos SDK that enables developers to create and deploy their own unique AMMs.
Osmosis is an automated market maker (AMM) protocol that enables programmers to design custom AMMs with sovereign liquidity pools. IBC is used by Osmosis, a platform created with the Cosmos SDK, to enable cross-chain transactions. In other words, Osmosis is a decentralized exchange created specifically for Cosmos with plans to expand to other blockchains in the future.
What is Axelar?
For seamless cross-chain communication, Axelar offers a decentralized network and tools to link dApp developers with other blockchain ecosystems, apps, and consumers. To remove obstacles to cross-chain communication, Axelar is a set of protocols, tools, and APIs. powered by an open, decentralized network of validators that anybody may join, utilize, and extend.
Smart contracts are able to interact with one another across chains thanks to Axelar's innovative generic message passing (GMP) technology. As a result, programmers may create cross-chain-connected Moonbeam apps that can make use of Polkadot, Ethereum, Avalanche, Cosmos, and other chains' features.
Methodology
In this dashboard, we will find:
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Common ways of entering Osmosis (total and first time transaction) and top of original chains
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Osmosis users per action (total and first time transaction) and top of popular actions
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Top tokens swapped to for first arriving on Osmosis and top of popular tokens
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Distribution of new LPers by First pool deposited and top of popular pools
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List of tables are exploited to conduct this analysis:
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osmosis.core.fact_transfers
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osmosis.core.fact_transactions
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osmosis.core.fact_swaps
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osmosis.core.fact_liquidity_provider_actions
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osmosis.core.fact_staking
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osmosis.core.dim_tokens
You can change the parameter as per your interest to list top chains/assets/pools
New Osmosis users:
Common ways of entering Osmosis:
Overall, the number of transactions increased significantly over time. The number of transactions in 2022 was higher than 2021. Mar and Oct 2022 had the best performance when we compared to the rest of the time. Cosmo was the most popular original chain with 1.24M transactions. Its number of transactions still went up quite dramatically over time and its contribution was still the most significant in total number of transactions over time.
Regarding first transaction per original chain, 2022 had the better performance than 2021. Mar 2022 had the most outstanding performance. With 249K first transactions (27.3%), Cosmos was the biggest original chain. However, the number of first transactions coming from Cosmo chain decreased over time. Looking at the normalized chart, we can see that the distribution of first transactions per original chain became more and more diverse, where Cosmo's percentage was lower together with increasing percentage from other chains.
ALL TRANSACTIONS
Analysis on Osmosis users per action:
Top tokens swapped to for first arriving on Osmosis:
According to these charts, among people who have joined the Osmosis ecosystem, swapping is the most common activity (both total and First transaction). In addition, this activity accounted for a significant proportion in total number of transactions (both total and first transaction). The second most popular action was transferring (in terms of total transactions) and staking (in terms of first transactions).
Regarding the weekly change over time, the total number of all transactions from all action type rose dramatically over time. Swapping and transferring activity was consistently the biggest contributors in total transactions. In terms of first transactions, there was no consistent pattern in the role of top 1 and 2 actions - swapping and transferring activities.
Distribution of new LPers by First pool deposited
Regarding the token swapped to of the first transaction, OSMO (Osmosis’s native token) was the most popular token with over 189K transactions accounting for more than 50% in total number of transactions. ATOM was the second most popular with over 36K transactions. Regarding the weekly changes, the first quarter in 2022 was the month with best performance. This fact was also correct for top 5 tokens.
The difference in weekly number of transaction swapping into OSMO and other coins in the top 5 was huge.
As can be seen from these charts, the number of unique wallets entering the Osmosis ecosystem was 620K. The largest peak of entry into the Osmosis ecosystem occurred between December 2021 and March 2022. Later, most of the time, the daily number of new users was lower than 2000. Looking at the bar chart, the cumulative number of new users increased sharply from Dec 2021 to Mar 2022. After this period, the growth rate became lower.
Out of 5 chains, Cosmo, EVMOS, Juno and Stars were top chains in both number of all transactions and first transactions. To be more specific, Cosmo was in top 1. The second and third most popular chains were Evmos and Juno. The difference here is that the percentage of Cosmo about first transaction was higher, with nearly a half. Regarding the change over time, there was a positive correlation in the number of transactions among top chains and Cosmo was always the biggest contributor over time.
The details of pool can be found here: \n
As can be seen from the pie chart, most of new LPers joined pool 1 (ATOM/OSMO). The distribution of new LPers joining pools is disproportionate. Pool 1 itself accounted for nearly 75% in total number of new LPers (59215 LPers). The second biggest pool was pool 497 (JUNO/OSMO) with 3746 LPers.
Similar to other actions, first quarter in 2022 had the highest number of LPers. After that, the number of LPers decreased sharply and remained lower than its number in 2021. Although ATOM/OSMO was the most popular pool, its percentage in total number of LPers from all pools went down recently .
CONCLUSION:
SQL credit to Jacktheguy!
- The number of unique wallets entering the Osmosis ecosystem was 620K. The largest peak of entry into the Osmosis ecosystem occurred between December 2021 and March 2022.
- Cosmo was the most popular original chain with 1.24M total transactions and 249K first transactions.
- Swapping is the most common activity (both total and First transaction). The second most popular action was transferring (in terms of total transactions) and staking (in terms of first transactions).
- Regarding the token swapped to of the first transaction, OSMO (Osmosis’s native token) was the most popular token with over 189K transactions accounting for more than 50% in total number of transactions. ATOM was the second most popular with over 36K transactions
- The distribution of new LPers joining pools is disproportionate. Most of new LPers joined pool 1 (ATOM/OSMO) with nearly 60K LPers in total number of new LPers. The second biggest pool was pool 497 (JUNO/OSMO) with 3746 LPers.
Twitter’s link: