Try Quests to earn cryptoDevelopment Activity
Like most smart contract platforms, Terra allows the permissionless deployment of smart contracts - a bundle of blockchain code that defines how independent parties coordinate to achieve a common goal. Smart contracts come in different types and are deployed to serve a wide variety of reasons. On Terra, new contracts are created with the message type cosmwasm.wasm.v1.MsgInstantiateContract broadcast to the whole network. In this dashboard, we’ll be looking at the smart contract deployment activity since the launch of Terra 2.
At the time of this writing, there has been about 1,150 unique contracts deployed by 318 administrators/contract deployers since Terra’s launch in late May, 2022. On average there has been 20 new contracts being deployed Terra with majority of them deployed within June, July, and August 2022.
Looking at the area chart above which shows the cumulative number of new contract deploys per week, we can see that the slope between June and August 2022 was more steep than the subsequent weeks implying more development activity. Contracts deployed fall into the following categories; defi, dex, nft, and token categories.
Token contracts account for 78.80% all contracts deployed, followed by defi (10.60%), dex (9.73%), and nft (0.88%). These types can also be broken down into various sub-types like token contracts, staking contracts, general contracts, airdrop contracts, contract deployers, swap routers, and DAOs. However, the distinction between these sub types cannot be clearly understood.
Token contracts are the main type of contracts being deployed on Terra. The majority of the labeled projects on Terra have only one contract deployed, a few have about 2 contracts deployed, and only very few have 3 or more contracts deployed. Astroport has the most number of deployed contracts with 9 to its name.