What is Osmosis?

Osmosis is a DEX protocol, which means it uses smart contracts to determine the price of digital assets, to produce liquidity via a peer-to-peer (P2P) methodology, and to exact trades between users. This approach to an exchange platform is known as an AMM — a DEX protocol that prices crypto assets in liquidity pools

Methodology

In this dashboard, We are going to mainly focus on the impact of FTX and Alameda collapse during the past wild week on the Osmosis ecosystem.

For this, First I am going to split our timespan into 2 categories:

1- Before FTX & Alameda Collapse: Since 3 Months (90 Days) Ago Till Before 8th November 2022 (The date when cryptocurrency market has began to crash)

2- During and After FTX & Alameda Collapse: Since 8th November Till Today.

So, We are going to check swap and also transfer activity on Osmosis users during this timespan as well as analysing the incoming and outgoing transfers from Osmosis via Axelar’s Satellite Bridge.

One of the main issues in this bounty is extracting the USD Volume of swaps/transfers/bridges since osmosis.core.fact_swaps and osmosis.core.fact_transfers tables do not have a price_usd column and we have to join these tables with osmosis.core.dim_prices, osmosis.core.dim_labels and also ethereum.core.fact_hourly_token_prices in order to be able to extract some volume-related data from swaps (considering that currencies on Swaps and Transfer tables are different from project_names and symbols on labels and prices table and we have to match them manually (using case/when) to match some popular and most traded currencies’ symbol on these tables to be able to extract their transactions’ volume).

==Another issue is that the decimal values of some currencies on tables seems to be incorrect. For example, the decimal value of the INJ token on the swap table is 12 but its actual decimal value (checked from mintscan) is 18! Or some currencies such as MEME ('ibc/67C89B8B0A70C08F093C909A4DD996DD10E0494C87E28FD9A551697BF173D4CA') was giving us strange numbers in some cases so I have exluded it from the results.==

Also, I am going to calculate the average daily values of transfers/swaps/bridges for the 2 mentioned timespans in order to get a more clear results for comparing data on these timespans. for this, I have excluded the current day’s date from the results since the data on today are not complete yet and it can give us incorrect average results.

So, As mentioned above, we are going to analyze data from 3 months (90 days) ago till today and we are only considering successful transactions.

Swaps

On the above charts, if we ignore 28th October high spike, there is a quite increasing activity of swaps on Osmosis during and after FTX & Alameda Collapse.

Before 8th November, we can see almost a constant number and volume of swaps and swappers on Osmosis but suddenly on 8th November we can see high increasing number and volume of swaps on this DEX especially in Volume which we have seen almost 3x more volume compared to the days before collapse.

As a better undrestanding visualization, on the left charts, we can see that the average daily number and volume of swap and swappers on Osmosis during and After collapse is way more than before collapse and its difference is even more in terms of volume.

On the above charts, we can see as time goes on and especially during FTX and alameda collapse, there is decreasing share of swap transactions with less than $10 volume and on the other hand, share of transactions with more than $1000 is increasing over time.

On the right chart, we can clearly compare the share of transactions with different types of volume during these 2 timespans and its obviously visible than the volume of transactions during and after collapse is more than before it.

Based on the above charts, we can see the increasing share of swaps TO stablecoins during FTX & Alameda collapse this means that ppl are selling their non-stablecoin assets and changing them to a safer asset to not lose more money from the market price crash.

And on the above charts, we can see there is slight increasing number and volume of swaps TO stablecoin during and after FTX & Alameda collapse compared to the motnhs and weeks before it.

In fact, both swap to and from stablecoins’ share have increased during collapse but the share of swaps TO is more.

Transfers

Now on the above table, we can see that number and especially volume of transfers to the Osmosis have increased significantly during FTX & Alameda collapse.

For example, during 11th and 12th November, we can see the share of incoming transfers volume to the osmosis is almost 2x more than outgoing from this chain!

On the above charts, we can also see that volume and especially number of bridges to the Osmosis chain via Axelar’s Satellite has increased significantly during and after FTX & Alameda collapse and this is pretty good news for the Osmosis chain !

And on the above charts, we can clearly see the difference between number and volume of transfers to Osmosis during these timespans.

Based on the above data, the wallet address bostrom1rl7lksuzayz5j0u0p35ezrw95czp3gyt4emcwf from the Bostrom chain has by far performed the most number of incoming transfers to the Osmosis chain in all days.

But in terms of volume, the wallet address stars1u75hcvzppcdw0przk4ak8a9zm460n37k67pr6q from the Stargaze chain has flowed the highest volume of money to the Osmosis.

(For calculating the top 10, I have only considered during and after FTX & Alameda collapse but on over-time charts and for more clear and better comparable results, I have expanded timespans to from 1st November)

Also, I have checked all of these top addresses manually on the websites such as , , , , , and similar explorers and also manually on the web (search engines) but I have not found any data that these addresses be related to the Centralized Exchanges and seems almost all of them are regular non-CEX addresses.

Summary and Conclusion

• The number and volume of swap activities on Osmosis have increased significantly during and after FTX & Alameda collapse compared to the weeks and months before it. Also, the swap transactions during collapse were heavier than before this timespan.

• There is increasing swap activities TO the stablecoins during and after FTX & Alameda collapse compared to the weeks and months before it meaning that users are changing their nonstablecoin asset to a safer asset in order to not lose more money due to market price crash.

• During and After FTX & Alameda collapse, the number and especially the volume of incoming money to the Osmosis has increased significantly and there are more inflow money to this chain as time goes on.

• The volume and especially, the number of bridges from other chains to the Osmosis chain via Axelar's Satellite has also increased during and after FTX & Alameda collapse.

• The wallet address bostrom1rl7lksuzayz5j0u0p35ezrw95czp3gyt4emcwf from the Bostrom chain has by far performed the most number of incoming transfers to the Osmosis chain.

• The wallet address stars1u75hcvzppcdw0przk4ak8a9zm460n37k67pr6q from the Stargaze chain has flowed the highest volume of money to the Osmosis.

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So, after the crisis and bankruptcy of a top-rated Centralized Exchange such as FTX, seems users are losing their trust in the CEXs because of the lack of transparency on their assets and wallet balance. As CZ (Binance’s CEO) said, there may be more and more CEXs that experience this crisis and bankruptcy in the near future. So, As we have seen on the above charts, there are more and more number of users joining decentralized exchanges such as Osmosis

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And based on the above charts, the wallet addresses axelar1565t6hv8tvkk2e39rs9m05034uuue8q3s5qf8m has performed the most number of transfers into the Osmosis via Axelar satellite bridge during FTX & Alameda collapse but the wallet address axelar1y7087ld7nc6259f9dx2h0wru93p7jejw5dzzgs has bridged the most volume.

Stablecoins Swaps

Axelar Satellite Bridge