Overview

• In this analysis we look at the following metrics, for both failed and successful transactions. Our main focus in this analysis is how Gnosis is doing in terms of transactions health and number of users transacting.
  • Transaction Frequency - Overtime
  • Number of Users - over time
  • Cumulative Number of Transactions vs Number of Users over time.
  • Gas Used over time $USD - Cumulative, Over time
  • Success Rate of Transactions, Over time vs cumulative
  • TPS - Max and Average.
  • Swap Metrics
    • Number of Swappers over time
    • Gas Used
    • Swap Frequency

Gas User over Time - $USD

• Gnosis like other L2s is known for its very low gas fees.
• We saw there are ~80K transactions everyday and the gas fee is about 100-200 $USD per day, that number is quite low.
• Till date we have seen only 13K $USD in Gas fees collected.

Transaction Success Rate

• Till date we have seen 770K Failed vs 3.8M Passing transactions, which means we see about 16% of transactions failure every day on an average.
• This number seems high, we have also seen as high as 44% failure on Jun 8, 2022.
• Gnosis certainly needs to work on improving this failure rate.

Transactions Per Second

• While L2s are known for low fees, they are not particularly know for high TPS.
• Looking at the overall max vs average till date, the overall max is ~836 Transactions per second, whereas the average has been ~5 Transactions per second.
• The Max TPS seen was 836 on June 05, 2022.

Transaction Frequency - Overtime

• We see around 80k-100k transactions daily on Gnosis.
• The highest was 110K, with 76K Successful and 34K Failed transactions.
• The frequency has remained somewhat consistent over time.

Transaction Frequency - Cumulative, Overtime

• We see around 4k-5k unique daily users on Gnosis.
• The highest was 6.6K users, with 6.2k users having Successful txns and .4k with Failed transactions.
• The daily number of unique users interacting with the platform has decreased over time.
• Looking at the cumulative number of txns vs user, we have see 9.1M transactions till date since the past 90 days with 536K users.

Swap Metrics

Gas Used

• Gnosis being an L2 is know for its Gas optimization, we see that for the past 90 days only ~10.7 $USD has been used in fee for about 541K Swaps.

Swap Frequency

• Swap frequency shot up around June 12-13, totalling around 20K swaps per day, for a cumulative of 540K swaps in the past 90 days, however the frequency is seen coming down.

Number of Swappers

• The swapper activity has been quite consistent in the past 90 days with around 400 daily active swappers on average.

Conclusion

• Overall in terms of number of transactions Gnosis has been quite consistent, however the swaps have seen a decline.
• True to its intent of an L2 the Gas fees is indeed quite low for so many transactions.
• The failure rate of ~15% per day is a concern and is something that should be seriously worked on.