What is Osmosis?

Osmosis is a Decentralised Exchange (DEX) on the Cosmos network.

It is the first major application of the Inter-Blockchain Communication Protocol protocol at scale (IBC), and, aside from its brilliant UI and overall branding and imagery, its features are proving to be a powerful application and new entrant to the DeFi ecosystem.

Built using the Cosmos SDK, Osmosis is its own sovereign blockchain with its own token (OSMO) used for network staking and governance. What makes Osmosis so ground-breaking for the Cosmos ecosystem, and in fact, the broader decentralized ecosystem outside of Ethereum, is the way in which Osmosis acts as an automated market maker, made possible through its liquidity pools.

Methodology

The main part of this dashboard is about active users activity and we defined a user who has at least 1 transaction in 5 days of a week as an active wallet. \n After finding the active wallets, we will look at their behavior, about how they perform, when OSMO price changes, where they stake, how they swap tokens, and where are they moving/bringing their funds to/from. \n Note: The timeframe that we are focusing here is recent 45 days

Number of active wallets

With the filters described in the methodology part, we found 15.12K wallets which did at least 1 transaction in 5 or more days of a week in recent 45 days, and these wallets are defined as active wallets here. \n If we look at the left diagram, we can see 9.31% of the total Osmosis wallets in recent 45 days are active wallets.

As we see 13.29k (88% of the total active wallets) of the active wallets have done more than 150 transactions during recent 45 days. The second group are the ones who made between 50 to 100 transactions, and the third group are the ones with 100 to 150 transactions by a close distance to the second group!

If we compare the daily transaction counts of the active wThallets with OSMO price, we see the higher records of the daily transactions has been submitted on the days that OSMO price was higher than the other days (Specially we can see this in early days of September), and through the time by falling of the OSMO price, the active wallets activity decreased in mid-September - early October either) and again both metrics increased on the recent days, so the answer of this question can be yes!

By comparing the number of each type of activity done by the active wallets, we can say swapping is almost 3.4x more popular than LP providing among them. 43.6 % of active wallets actions in Osmosis is swapping tokens, which is  1.19m transactions in total. \n Doing IBC transfers us the most favored actions by these wallets, and if we go further we can see they transferring tokens into Osmosis form other chains 10k more than transferring tokens from Osmosis to other chains. \n Staking is the 3rd popular action in active wallets, here we are going to see where the are staking their OSMO tokens?

If we look at the number of staking transactions done by the active wallets, we see they selected AutoStake validator more than any other validator. 186.17k of the staking transactions are for staking OSMO to AutoStake. This validator is involved in 53.3% of all active wallets staking transactions. \n

The other Metric for finding the active wallets favorite validator is the volume of staked OSMO. \n As we see the majority of staked volume by active wallets is distributed between Cosmostation, Figminet and Blockdeamon; these 3 validators have more than 80% share of total volume staked and Cosmostation with 3.22m OSMO and 31.5% share is the leader here.

2: Transferring in (to OSMO from other chains):

Hello everyone! In this dashboard we are going to track the active users on Osmosis in recent 45 days, but before we start let’s get familiar with Osmosis first:

How many transactions the active wallets are making?

Does OSMO price have effects on active wallets activity?

Do active wallets LP more or swap more?

Favorite validators for active wallets to stake OSMO:

What are they swapping?

We see swapping is the most favorite activity by the active wallets, here we are going to see what tokens they swapping?

By comparing the chart’s, We understand OSMO,ATOM and AXL.USDC have the most share in active users swaps more than all other IBC assets, how ever The selling transaction counts of OSMO is more than purchasing it. Active wallets have sold OSMO 304.5K times while they purchased it 260.32K times.

Another notable thing is the high difference in EVMOS selling transaction counts and buying it in active wallets swaps, Their Evmos sales count is 9k more than their Evmos purchases!

Cosmos chain is the most selected destination by active wallets, this wallets have moved their funds (here: ATOM token) Cosmos 76.46k times! after Cosmos Bostrom with 7k less transactions is in second Place, Juno is the next favorite destination here by 38k transfers.

Also we see most of the active wallets (4033 ones) done their second IBC out transfer in 1 to 3 days after their first ones.

IBC transfers status in active wallets

1: Transferring out (from OSMO to other chains):

Most of the active wallets (4332 ones, which is 37.9% share of the total) do their second IBC-In transfer in 1 to 3 days after their first transfer. \n The other major group are ones who are super-active in IBC transferring and made at least 2 IBC transfers each day in total (4193 wallets). \n Evmos is the most selected origin chain for doing IBC transfers in Osmosis zone by the active wallets and these transfers have shown their effects on the high number of the EVMOS swaps to other assets.

Conclusion

• 9.31% of the total Osmosis wallets in recent 45 days were active wallets. These wallets have done least 1 transaction in 5 or more days of a week in these period, and the total number of active wallets is  15.12K.
• 13.29k (88% of the total active wallets) of the active wallets have done more than 150 transactions during recent 45 days.
• There is a direct correlation in active wallets activity and OSMO price; in fact, bullish waves in OSMO price have positive effects on active wallets activity.
• Swapping is almost 3.4x more popular than LP providing among active wallets. 43.6 % of active wallets actions in Osmosis are swapping tokens, which is 1.19m transactions in total.
• 186.17k of the staking transactions are for staking OSMO to AutoStake. This validator is involved in 53.3% of all active wallets staking transactions.
• Majority of staked volume by active wallets is distributed between Cosmostation, Figminet and Blockdeamon; these 3 validators have more than 80% share of total volume staked and Cosmostation with 3.22m OSMO and 31.5% share is the leader here.
• OSMO,ATOM and AXL.USDC have the most share in active users swaps more than all other IBC assets
• There is a high difference in EVMOS selling transaction counts and buying it in active wallets swaps.  Their Evmos sales count is 9k more than their Evmos purchases.
• Cosmos chain is the most selected destination by active wallets in IBC transfers; this wallets have moved their funds Cosmos 76.46k times!
• Most of the active wallets (4033 ones) did their second IBC out transfer in 1 to 3 days after their first ones.
• Evmos is the most selected origin chain for doing IBC transfers in Osmosis zone by the active wallets. And these transfers have shown their effect on the high number of EVMOS swaps to other assets.
• Most of the active wallets (4332 ones, which is 37.9% share of the total) do their second IBC-In transfer in 1 to 3 days after their first transfer. \n \n \n

Resources

Contact

Discord: Hessish#9153