Transactions on Wormhole: UST

This analytics concerns the metrics of transaction made on Wormhole, a bridge platform to transfer assets across chains. We are specifically going to study the metrics in terms of transaction count, number of user and the volume. For simplicity, this study concerns with UST as the asset to be studied. This is because UST has much more utility in other blockchain than LUNA, thus why it is chosen as case study.

1.0 Methodology

2.0 Results

3.0 Conclusion

The table used is terra.msg_events

    1- Extracting  event_attributes:sender as sender,count(tx_id) as n_txn, sum(event_attributes:amount[0]:amount/1000000) as UST_bridged

    2- Filter using 	where event_type='transfer' and event_attributes:amount[0]:denom='uusd' and event_attributes:recipient='terra10nmmwe8r3g99a9newtqa7a75xfgs2e8z87r2sf'

   3- Using case function and group by sender, we can create a table of groupings based on their metrics

For the Groupings...

User who sent less than 100,000 UST are considered as Minnows, Those with more than 100,000 UST but less than 1,000,000 UST are considered as Fish and those who made transacytion larger than 1,000,000 UST are considered as Whales

Bar chart below shows the Volume of UST sent to Wormhole. The cumulative sum of UST sent to Wormhole by whales is at 68.7 M UST, while the Fish and Minnows were below 5M UST. This shows that the outflow of UST is dominated by the Whales.

The Pie Chart below shows the numberr of user that used Wormhole to send UST. As you can see, the Minnows are the majority of the user at 3700 users, consisting 95% of the Wormhole User. The top 5% were the Fish and Whales. This explain why minnows dominates in terms of total transaction as there are many users, therefore, more transactions are made.

The below bar charts represents the amount of transactions made by each groupings. Minnows, the bottom of the groupings, dominate in terms of number of transaction at almost 9000 txn. While the Fish and whales were at 1014 txn and 625 txn respectively.

Wether who dominates the UST outflow is a useful tool to visualize the behaviour of certain Terra users and their "financial/investment dynamics".

Since Terra is a rather new eco-system this may seems to be a common behaviour, and moreover, crypto whales are usually already have large capital in other blockchains.