The Story before Terra 2.0

• Terra Nework was in a really good moment, with both the LUNA increasing their price (Governance Token) and the UST(Terra Stablecoin), but their fall was preconceived.

  In May 7 UST suffers large amount of swaps dropping their price.

• Which forces the Luna Foundation Guard (The pilar of UST peg) to loan BTC and recover the UST price to 1$, but in the end the UST nevers pegs again.

  This makes Luna price starts to crumble, and in the end during May 12 Luna price reach a floor price collapsing.

• In the end, the cryptocurrency economy suffers $300 billion in loses and the Terra Network developers forked their project as Terra 2.0 without UST this time, only LUNA.

  • It was by the governance proposal 1623, voted by Terra Classic users the main reason to create a new terra.

What is the goal of the dashboard?

First you’ll see Terra 2.0 blockchain with Reach, Retention and Revenue Metrics, the purpose of these metrics is to have a general overview of this ecosystem.

After that we’ll look at the top Liquidity Pools in terra by Activity.

Finally we’ll see the activity of Knowhere the unique NFT Marketplace on Terra 2.0 at the moment.

🔍 Reach Analysis🔍

• During the first days of Terra Launch, the amount of Activity was really high, triggering a lot of failed transactions.
  • This activity drops after the Second Half of June 2022.
  • But in September 9 the activity spikes again.
• In the first day there was 45,977 New users, after that the number of Daily New users was over the 16k until June 1.
  • The New user percentage, starts to go down fast, there are some spikes during the process with increases this percentage but in the end in the past weeks this percentage is less than 10% of New users.
• We can see an influx of TPS during November 9 the day of FTX Crash.
• The cumulative curve of New users doesn’t change too much after the first days.
• The cumulative curve of transactions is better, with the amount of transactions increasing in a constant pace.
• Contracts Executed with CosmWasm is the transaction most frequent in Terra 2.0.
  • MsgSend is the other one.
  • Both have more than 50% of the total activity in Terra 2.0.

🧲Retention Metrics🧲

💰Revenue Metrics💰

Liquidity Pools in Terra

🔍 Liquidity Pools Analysis🔍

• The top LPs with most activity are from Astroport, Terraswap LPs doesn’t have too much activity overall.

  LUNA is LUNA 2.0 the old LUNA is called LUNC

  • Astroport LUNA-LUNAx, LUNA-axlUSDC and ASTRO-axlUSDC. Presents the highest activity in Add Liquidity.
  • LUNA-LUNAX also presents the highest activity with Withdraw Liquidity.

• During all the time the amount of $USD Volume added to the LUNA-axlUSDC LPs is stable, with some impermanent loss during September when LUNA Increases, and November during the FTX Crash (the highest difference of ratio).

  • It’s seems that a lot of users where swapping their LUNA with fear.

📣Reach Metrics📣

What is Terra 2.0

Thanks to the passionate effort of the community, Terra launches again this time in May 28 with the goal of revive again the Popular Altcoin Luna, now the developers armed with the knowledge of their past mistakes, the amount of LUNA 2.0 circulating is a low smaller in comparison with their predecessor.

• 35% of LUNA 2.0 was airdropped to previous and existing LUNA Holders

  • 10% was for holders of the token before the UST Crash.
  • 25% was for users who still own LUNA and UST.

• Terra is a Proof-of-Stake blockchain, with an active set of 130 validators with the highest total of Staked LUNA 2.0 who participate in governance.

• Terra is built on the Cosmos-SDK.

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🔍 Retention & Revenue Analysis🔍

Retention

• We can see that the Active users in only 3 days of May have most Active Users than the rest of the months.
  • Although DAU/WAU of May is going to be higher because it only considers 3 days and 1 week.
  • It’s seems that the activity starts to decrease in the following Months for Active Users.
  • September 2022 was the only Month with an increase of Activity
• Stickiness show us the percentage of daily active users during the month, an we can see that less than 10% of users are active daily during the month, but in October we can see an increase of user activity in 1.5%

Revenue

• Luna Price was calculated using swaps between $LUNA 2.0 and the axlUSDC/axlUSDT, and we can see that this price was at their highest days after the launch of the network, after that the price of Luna drops really faster to $2, and during September their price rises again to $6.

  Luna 2.0 Price Increase is behind the amount of activity in Terra during September

• We can see that during these days, the average gas fee was at their highest, but the total gas fee was at their highest during Terra 2.0 launch, overall both amounts are correlated over time.

Knowhere Marketplace in Terra

> The only one at the moment - Knowhere

🔍 Knowhere Analysis🔍

As the only Marketplace, activity really starts low, being the first marketplace didn’t help much so maybe they didn’t have enough collections.

In August 2022 their activity increase with users and sales, in the end of the month and thanks to the rise of LUNA Price, September activity is really stable, with a lot of users and sales.

But is in October 2022, the best Month for this marketplaces, reaching spikes in Sales, Users and $USD Volume.

Sadly in November the activity drops but mantain the same numbers as when their popularity rises in August.

Whats the reason behind the boom in October?, the only way to see is by Collections! but as a guess the effect of Halloween and the boom of NFTs between other chains such as Art Gobblers in Ethereum or NFT Reddit Avatars in Polygon during may have an effect on the NFT Market in Terra 2.0.

Maybe in December with Christmas and New Collections the boom from October can appear again.

Knowhere Marketplace NFT Collections

> I have to search for every collection name in Knowhere market!!. There is only one collection without name because there isn’t a valid page on the site, so maybe it was deleted in the process

Summary

• Terra Transaction Activity is increasing in a good pace.
  • In september the increase of Terra Price causes an increases of transactions.
• Users in terra where really hooked during the first days.
  • After that they dissapear, only to appear during September LUNA Boom.
• During November 7 in the FTX Events the TPS increases a lot.
• There is only 1 Marketplace in Terra called Knowhere.
  • During October 2022 there is a Boom in $USD Volume Sales thanks to Redacted Ronin Collections.
  • Skeleton Punks is one of the collection with most sale activity.
  • Thanks to these collections and the Luna Ape Club, the NFT Market Activity starts to increase in August.
• Overall this Marketplace is healthy, with a good increase of users and may seem another Boom in Sales during Christmas.

Methodology

Using FlipsideCrypto Terra Tables.

Fact.transactions: To get info about Transaction Activity.

Dim.Address.label: To get the Name of the Marketplace.

Fact.LP.Actions: To get info about Liquidity Pools in Terra.

Fact.MSG: To get info about Transactions.

EZ_SWAPS: To get the LUNA USD Price

FACT_NFT_SALES: To get info about NFT Marketplace.

I have to use some extra minutes past submit date to add the last analysis.

🔍 Collection Analysis🔍

We can see that most USD Volume is concentrated in 2 collections, Redacted Ronins and Skeleton Punks

With Skeleton Punks the one with most Activity, in Sales, Buyers and Sellers.

And Redacted Ronins the second One in Sales but the first in Volume.

Luna Ape Club, Galactic Punks and Terrabots are other popular Collections too.

🔍 Collection Analysis🔍

Redacted Ronin Sales impact during all October making a lot of Revenue.

Before that Skeleton Punks was the collection with most Sales Volume in September.

Cyberdeck: First Settlers was the first collection with sales in the Marketplace.

🔍 Collection Analysis🔍

• From August the Activity in Knowhere really start, and it was thanks to skeleton punks, redacted ronin, luna ape club which appear in that month in the marketplace and start attracting a lot of Users.
• In September the amount of Buyers of skeleton punks reach the biggest spike, with a lot of attention for this collection and bringing the most USD Volume during that time.
• In October Sales of Redacted Roning spiked with a lot of Sellers and the biggest USD Volume in the Market.