Question in detail:

This week has highlighted the need for transparency & decentralization in crypto markets. Let's see how users have reacted to this wild week in Web3. Have behaviors changed? Analyze growth in Osmosis Volumes & User Count this week.

Has more money flowed into Osmosis this week compared to the past few weeks/months? Where is this money coming from? Centralized Exchanges? Have wallets moved more into stables?

Overview of analysis:

This analysis contains 3 parts as below:

• Trade analysis on Osmosis
• Transfer analysis on Osmosis
• Satellite bridge into Osmosis

Approach:

The data provided by Flipside has been used to handle this analysis.

• Trade Analysis
  • Swap activity before and after FTX crisis
  • Transfer to and from Osmosis before and after FTX crisis
  • Satellite bridge from Axelar into Osmosis before and after FTX crisis
• Used Metrics:

  • Users, transactions and volume in USD for each action

  • average user and swapper per day, average and 7-day moving average amount for each action

  • Trade of stable coins

    The crisis of FTX has been investigated since November 7, 2022.

Osmosis network:

Osmosis is an advanced Automated Marketer Protocol (AMM) that allows developers to build custom AMMs with robust liquidity pools. Osmosis is built using the Cosmos SDK and uses the Inter-Blockchain Communication (IBC) feature to enable cross-chain transactions. The Cosmos ecosystem follows the "Blockchain as Decentralized Program" architecture; This means that Osmosis is a blockchain connected to cosmos Hub, which is also a decentralized exchange.

Osmosis, with the help of IBC, connects to the entire ecosystem of Cosmos chains and their more than 10 billion dollars of native assets. After supporting active blockchains on the Cosmos hub, the project aims to connect to other chains such as Ethereum and Bitcoin.

FTX crisis:

It looks like it's been a rough year for billion-dollar cryptocurrency companies, as Sam Benkman-Fried (SBF) FTX is now in the headlines, with crypto brokers scrutinizing its data for signs. are from bankruptcy.

The issue started a week ago when several researchers began looking deeper into SBF's finances, specifically its trading company Alameda Research, to determine that there was a funding risk due to the overrepresentation of the FTT token on its balance sheet.

The crypto community is braced for the FTX crisis. Up until this point, most of the bearish crypto market was the result of macroeconomic conditions. Coinbase research noted that two-thirds of the selloff in the market is a direct result of the difficult macroeconomic outlook. As the general market fluctuates from news of inflation and recession, so does the crypto market.

Part 1: Trade Analysis

Findings:

Now lets dive deep into the trades related to stable coins after FTX crisis:

• The swaps to stable coins has higher share than from stable coins in the post FTX crisis.
• Over 10k users swapped their assets into the stable coins after FTX crisis and this number is higher than traders from stable coins.
• About 1000 distinct users have been swapped into the stable coins averagely per day after FTX crisis.
• On November 8, the highest trade volume into the stable coins occurred with over 9.15 million USD as volume.
• Also, on November 8 the highest count of swaps into the stable coins happened and its the highest count of swaps after FTX crisis.

Part 2: Transfer analysis

Findings:

This part contains the trade activity on Osmosis before and after FTX crisis and the outcomes are listed as below:

• The average swapper per day has been increased after FTX crisis as can be seen.
• The Average trade volume per day in USD was high on the days before FTX crisis compared to the period of after FTX crisis.
• The over time investigation reveals that the count of swaps on Osmosis network has been increased after FTX crisis and the highest trade count after FTX crisis occurred on November 9 with over 73.5k swaps.
• The trade volume in USD for Osmosis network shown the spike on November 11 after FTX crisis.

Findings:

Lets concentrated on the transferring into or from Osmosis network before and after FTX crisis:

• First look at the transfers into the Osmosis network. According to the analysis, the count of transfers into the Osmosis increased after FTX crisis and on November 10 the highest count of transfers into the Osmosis occurred.
• Also, on November 9 over 10.6 million USD have been transferred from Osmosis network to other chains and its the highest volume of transfer from Osmosis network on period of after FTX crisis.
• The results shown that after FTX crisis users sent their assets from Osmosis into other chains.

Part 3: Satellite bridge

Findings:

Thanks to the Flipside and date related to the Satellite bridge from Axelar into Osmosis, lets see the outcomes related to bridge:

• After FTX crisis the average volume of bridge via Satellite into the Osmosis has been decreased as can be seen.
• On November 9 the highest bridge volume into the Osmosis via Satellite bridge occurred and its on the period of after FTX crisis.
• The volume of transfer from Osmosis via Satellite has higher volume than bridge into the Osmosis in USD.

Trade on Stablecoins

Conclusion:

• The swap activity after FTX crisis has been increased from the count of swaps and unique swappers points of view.
• Users intended to swap their assets into the stable coins after FTX crisis to avoid extra loss on price drop of their assets.
• The transfer into the Osmosis is lower than transfer from Osmosis to other chains after FTX crisis as can be seen.

Useful links:

• Osmosis network
• FTX crisis on recent days
• Satellite bridge

Author:

Credited by MZG

Discord handle: m.zamani#0361

Twitter handle: @GargariZamani

Findings:

Dive deeper into the transfer after FTX crisis (November 7, 2022):

• The average volume of transfer analysis shown that, the transferring from Osmosis into other chains has higher volume than transfer into the Osmosis on period of after FTX crisis.
• November 9 has the highest transfer volume in USD from Osmosis network to other chains after TX crisis and the count of transfers reached its highest count on November 10.