Outline

For this question, we are looking for the stablecoin dominance on the Osmosis platform. We first compare the transaction volume and the total transaction share of each coin and then we will look at their dominance over time.

The stable coin we are interested in are USDC, USDT and DAI, which are respectively identified by uusdc, uusdt, and dai-wei on the Osmosis.

Part 1: Total Stablecoins Volume/Dominance and Their Shares

The following figure shows the overall transaction volumes of each stablecoin on the Osmosis platform. USDC is the most dominant coin among these three by about $64.5 Million worth of transactions. The second most favorable stablecoin is the DAI, with $3.55 Million, and the close third is USDT with about $3.51 Million worth of transactions.

Here is each coin's share from the total transactions volume. USDC absorbed about 90% of the volumes among these stablecoins, and DAI and USDT, each absorbed about 5% of the transactions.

Stablecoins Dominance Over Time

We have shown each stablecoin's transaction volume over time in the following figure.

Our observations:

• We can see that USDC is the most dominant coin on almost all time periods.
• On April 21, USDT was able to absorb the most transaction volumes. An event that never repeated since.
• During a short period from May 1 to May 7, DAI was the most transacted stablecoin.
• From May 13, the transaction volumes of DAI started increasing, so much that on May 20, it experienced its all time high.
• From April 24 to May 7, an stable time for the market, stablecoins on the Osmosis experienced low volumes of transactions.
• From June 6 to June 13, the time when Bitcoin was able to reach back to $30,000 and almost keep its price almost stable, there was very little transactions on the stablecoins.

Conclusions

1. USDC is the most favorable stablecoin on the Osmosis platform. Over 90% of the transaction volumes among USDC, USDT and DAI belong to USDC.
2. Though all three of these stablecoins were the most dominant for a period, DAI and USDT were only on top for a short time. USDC is in fact the dominant stablecoin both over time and on transaction volumes.