Introduction

Flow is a fast, decentralized, and developer-friendly blockchain, designed as the foundation for a new generation of games, apps, and the digital assets that power them. Flow is the only layer-one blockchain originally created by a team that has consistently delivered great consumer blockchain experiences: CryptoKitties, Dapper Wallet, NBA Top Shot. In this article, we will focus on the users' behavior including swapping activities, different transactions, and finally finding the reasons for some of these behaviors.

1- What are users swapping for?

The following pie chart is plotted to answer this question. This chart shows that the most popular assets that users have been swapping for, is Tether stablecoin and Flow, FUSD are in the next place. The next table shows the top 10 assets which have gained the higher swap volume (number of swaps). As you can see stablecoins of USDT and FUSD have more than half of the total swaps among the top 10 assets.

2- The most common activities

In this section, we want to know which activities on the Flow network have had the most transactions. For this purpose, we have extracted the top 10 activities that Flow Network users have done the most from the Flow Event table. As shown in the pie chart, the top three activities are:

1- Tokens deposited

2- Tokens withdrawn

3- Fees Deducted

3- Swapping Behavior

There are always different factors affecting the behavior of crypto users. The most important of these factors is the external news around the entire crypto market. Sometimes bad news or a government policy has a huge impact on the market. In this section, we intend to justify the reason for some of the users' behaviors by examining parameters.

First, look at the daily swaps volume chart on the Flow network. We can see three peaks on 12 May, 20 May, and 14 June. the highest peak occurred on May 20 showing the demand for swapping on this day. Various factors can be mentioned as the reason for this sudden increase in swaps volume, but the most important factor for this increase in swaps was the collapse of the crypto market due to the failure of the Terra project.

The following chart shows the daily swaps for the two most popular stablecoins (USDT, FUSD) on the Flow network. The diagram shows a huge demand for stablecoins over May. This huge demand for stable coins is a sign that users wanted to save their capital by swapping their assets for stablecoins during the sharp drop in crypto markets.

As the last parameter, the price of flow with time is drawn in the following diagram. As it is clear, the price has been steadily decreasing over time, and the result of this continuous decrease in the price of Flow is evident in the reduction of the volume of swaps. What can be said is that with the decrease in the price of flow, the users' desire to do swaps has also decreased.

Conclusion

This article had three main sections which include:

1- The most common activities

2- The most common activities

3- Swapping Behavior

The results show that the largest volume of swaps was for stable coins and Flow. The number of swaps also decreased with increasing sales pressure and the drop in the crypto market, but sometimes such as the sharp drop in May, the number of swaps for stable coins has increased significantly.