Terradash Part 3: Development
We’re working with Terra to rebuild the great Terradash, a dazzling dashboard full of analytic insights — and we need your help! We’ll be building out this new and improved Terradash in parts. For our penultimate challenge, we’ll dive deep into development activity on-chain.
What is Terra?
Terra is an open-source blockchain payment platform for an algorithmic stablecoin, which are cryptocurrencies that automatically track the price of currencies or other assets. The Terra blockchain enables users to instantly spend, save, trade, or exchange Terra stablecoins.
The Terra protocol creates stablecoins designed to consistently track the price of a fiat currency (a government-backed currency such as the U.S. dollar or euro). It consists of two cryptocurrency tokens—Terra and Luna.
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In the first analysis, we are going to find out Total, Daily, weekly and monthly Terra contracts count
Observations:
As we can observe, in the above charts we found out total, daily, weekly and monthly count on terra contracts.
As can be seen from the above chart on the left side, the weekly total used contracts and weekly cumulative use contracts of Terra's 97 contracts are calculated and shown, with a decreasing megatrend that peaked in the third week of May with 19 contracts, then decreased and continued with steady trends. Its cumulative chart is also increasing steadily.
There is a bar chart on the above right side that shows the monthly used contracts and monthly cumulative used contracts of the 97 contracts on Terra, which as we can see has a declining mega trend that peaked on June 2022 with 30 contracts and then decreased and continued in a steady trend. The cumulative chart increases steadily after the June spike. On pie chart left side percentage share of used contracts of each month is calculated and shown in which June with 30.9%(30) of used contracts has highest share and July is second most month with most used contracts with 16.5%(16) of all used contracts
In the second analysis, we are going to find out Top and total count of contracts on each pool id
Observations:
A pie chart on the left shows the number of contracts used by each pool ID, with the most used contract being Terra1fd68ah02gr2y8ze7tm9te7m70zlmc7vjyyhs6xlhsdmqqcjud4dql4wpxr with 47% or 65,837 usages.
In the pie chart on the above right, we see the top 20 pools/contracts with the highest number of usages, which includes luna-axlusdc having 76% of them or 73,561 usages, 11 times more than the second pool with the greatest number of usages, astro-luna, which uses 6,230 contracts.
Observations:
According to the pie chart on the left, terra1j8hayvehh3yy02c2vtw5fdhz9f4drhtee8p5n5rguvg3nyd6m83qd2y90a has most used contracts with 50.7% "from" volume of all contracts or 473M.
The above right-side pie chart shows the top 20 contracts or pools with the highest volume of “from“, and luna-axlusdc has the largest share of these volumes with 74.2% or 38M contracts, which is 5.45 times more than the second pool with the most “from” contracts, axlusdt-axlusdc, which has 6.9M contracts.
Observations:
On the left side, the volume of used contracts to each pool ID is calculated and shown. Terra19hz374h6ruwtzrnm8ytkae782uv79h9yt9tuytgvt94t26c4793qnfg7vn has 69.1% of all contracts used or 3.8M.
Fatman-luna has the largest share of "to" volume among top 20 pools, accounting for 85.1% of them or 845M volume on the right side of the pie chart. Astro-luna, on the other hand, has 70M "to" contracts, 12 times more than the second pool with the most "to" volume.
In the third analysis, we are going to find out Usages of USDT on pools of Terra
Observations:
Counts of executed pools/contracts on USDT represent the total number of times 6.84K pools/contracts have been executed. In USDT, executed from the volume of contracts on USDT equals 7.19 million dollars USDT. Total Volume of Executed To Contracts on USDT refers to the total volume of contracts executed to pools on USDT, which is $7.18 million USDT.
The weekly status of the used contract count on USDT and the volume of contracts from/to can be seen on the right side of the chart, where we see that both volumes have the same volume and are decreasing, which both volumes reached a maximum in the first week of June, reaching 1.145691M in volume and 1.145464M in volume, respectively. The usage count of USDT contracts has decreased since the first week of September when 1,096 usages were reached and then decreased.
In the bar graph on the above right side, the usage count and from/to volume statistics of USDT are shown. From and to volume have the same volume, both have decreasing trend, and both volumes peaked in June with 1.991742 M to volume and 1.990654M to volume.
In the fourth analysis, we are going to find out Usages of USDC on pools of Terra
Observations:
A USDC execution number of 83.3K refers to the number of pools or contracts that have been executed on USDC. Executed From Volume of USDC Contracts refers to the total volume of USDC contracts that have been executed from pools/contracts over the last few years, which is 50.5 million $USDC. This number refers to the total number of pools/contracts executed on USDC, which is 258M $USDC.
Above right side chart of USDC contracts used count and from/to volume shows weekly status. As can be seen, volume has dominated from volume and both have a declining trend. The volume of contracts on USDC peaked in the first week of August with 80M and then peaked in the first week of September with 3.2M while the usage count of contracts has increased in the first week of November with 7,288 usages.
A bar chart on the above right side shows the status of used contracts and volume from/to contracts on USDC, and we can see that volume has dominated volume, and both have a downward trend. As for volume, it peaked on August with 94M then decreased, and from volume peaked on June with 11.1M then decreased, and USDC usage counts have been increasing in recent years, reaching a peak of 18.43K usages in November.
In the fifth analysis, we are going to find out Usages of UST on pools of Terra
Observations:
A volume of 1,690$ UST is the total volume of contracts executed from pools on UST. It refers to the total number of executed pools/contracts on UST, which is 50. UST Executed To Volume refers to the total volume of UST contracts/pools that have been executed, which is 37.8K $UST.
On the right side of the chart, a weekly status of contracts used and from/to volume on UST is shown in which volume has dominated from volume, and both have a decreasing trend. Volumes reached their peak on the first week of July with 8,873 and volume reached its peak on the first week of July with 357.7, while the usage count of contracts on UST has decreased since it reached its peak last week of June with 11 usages.
As we can see from the bar chart on the right, the monthly status of used contracts on UST and the from/to volume of contracts are both decreasing, with the to volume dominating the from volume, which reached a maximum in July with 27K then decreased, the from volume reached a maximum on July with 1,197 then decreased, and the usage count of contracts on UST has decreased since July, when 37 usages were recorded.
To Conclude:
From the above analyses, we found Terra has deployed 97 contracts, the majority of which were deployed in the first week. After that, 1-5 contracts are deployed each week on Terra. There is most volume on terra19hz374h6ruwtzrnm8ytkae782uv79h9yt9tuytgvt94t26c4793qnfg7vn. It has the highest usage of contracts with terra1fd68ah02gr2y8ze7tm9te7m70zlmc7vjyyhs6xlhsdmqqcjud4dql4wpxr. Terra1j8hayvehh3yy02c2vtw5fdhz9f4drhtee8p5n5rguvg3nyd6m83qd2y90a is the one with the most volume. From the three stablecoins observed (USDC, USDT, and UST), most contracts have been executed on USDC, as well as most to/from volume.
USDC is the only stablecoin with increasing volumes and usages of contracts; other stablecoins are decreasing or fluctuating
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Thankyou @Flipsidecrypto and @MetricsDao
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