KRT vs. UST Users

    A breakdown of the transactional history of KRT and UST holders.

    Findings & Conclusion

    After our brief analysis, it was found that UST users perform more transactions on average than KRT users. Transaction volumes of UST also exceed that of KRT at today's exchange rate.

    In conclusion, we defined and investigated the average monthly transaction count of UST and KRT users. Further analysis drew differences between the respective transaction volumes.

    Similarly, KRT Average monthly volume is presented in the chart below. We can see from below that the chart exhibits upward and downward trends characterized by peaks and troughs. This is an indicator of a strong supply and demand market.

    Average monthly volumes for UST do not seem to follow a specific pattern but we can extrapolate the overall average to be 100M UST. The month of March is an outlier out of the lot because the average monthly volume surpassed 900 trillion UST. It is not clear to us yet, why the volume spiked in March.

    Next, lets take a look at the monthly volumes presented by the charts below.

    The graph above shows the average transaction count month-by-month since Terra genesis. The first 3 months show transaction counts below 1,000, however, transactions numbers began to increase, breaking through the upper threshold. Transactions this month, August 2021, have recorded the highest all-time average of 4.5K and 2.4K for UST and KRT respectively.

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    Transactions Summary

    UST and KRT transactions summary shall shed more light on the nature of UST and KRT wallets. To begin with, let us take a look at the average transaction counts.

    Method

    To proceed, there have to be clear definitions of who KRT and UST users are.

    KRT users are defined as Terra wallets who have KRT on their balance sheets with no UST.

    UST users are also defined as Terra wallets who hold UST on their balance sheets with no KRT.

    These definitions are clear-cut to prevent wallet overlap.

    We further define a transaction as sending and receiving funds from one user to another. DeFi transactions are excluded from the investigatio.

    Introduction

    The Terra ecosystem is home to a suite of stablecoins that seek to provide stablecoin solutions across chains.

    The two most popular stablecoins in the Terra ecosystem are Terra Korean Won (KRT) and Terra USD (UST), which are pegged to fiat KRW and USD respectively.

    This dashboard will focus on bringing to light a summary of the transactional history of KRT and UST users.