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What actions does a user take when they deposit money into the NEAR ecosystem?
Methodology
In order to find the new users, we limit those who performed their initial actions in NEAR protocol in the past three month, specifically, from June to August of 2022. We first take a look at the top 10 most popular actions. Then we visualize the actions using word cloud to find our the relative scale of their popularities. In the end, we analyze the trend of actions usage through time.
Distribution of Top 10 Actions
The chart on the left shows the distribution of all the actions that were performed by the new users of NEAR.
Our observations:
- submit is the most used method called by the users, so much that more that 40% of all of the transactions where submit.
- deposit is in the second place, with 23.3% of the total transactions.
- The forth place belong to the ft_transfer_call, with 5.52%.
- Other belong to the rest of functions, which is responsible for 21.5% of the whole transactions. This means that the new users of NEAR, only use the top 10 functions, listed on the chart legend, for about 80% of their transactions.
- nft_mint is responsible for 1.59% of the transactions. Through huge on a massive scale, it has a room for improvement.
Word/Actions Cloud
Now, lets look at the functions popularity from a different perspective. The figure on the right shows the word cloud of the functions used by the new users of NEAR. The bigger the word, the more the new users used it.
Our observations:
- Same as the previous section, we can see that submit and deposit are the two most used actions by a large margin.
- Actions like add_login, create_acount and near_withdraw have almost the same degree of popularity.
- Actions like candle_orders, add_liquidity and claim are among the least popular transactions.
Actions of New Users Through Time
Finally, lets take a look at the popularity of different actions, through time.
Our observations:
- In the beginning, the submit action was not highly popular. But it gained a massive popularity from the week of July 3.
- deposit was the popular actions in the beginning our time period. Though it was still among the popular actions, it was not the number one.
- swap is also a popular action among new NEAR users.
