Overview 👀 ~ 8 min read

In this dashboard, I will answer this question from Flipside Crypto:

How sticky are the users on Flow?

Create a detailed analysis comparing user retention on Flow vs. other L1 chains like Ethereum and Solana.
How often do users who make a transaction come back and make another transaction one month later?
How do monthly active users compare between chains? \n
add a section of your analysis comparing retention specifically with regard to NFT purchases.
How often do users who purchase an NFT come back and make another purchase one month later?

Methodology 🧠

To solve this question,

I used the fact_transactions tables of different blockchains For the first part, which is the activity of active users, I considered users who have made at least 2000 transactions since the beginning of the year. For the second part, which is retention I used 2 methods to solve this part. The first method is that I divided the time interval of transactions performed by each user by the number of transactions of that user, which in other words gave the result of the average interval between user transactions. The second method is that I obtained the users of each month separately from the beginning of 2022 and checked their transactions over time. I added both methods to the dashboard and used both methods for NFT buyers

Introduction 💭

What is Flow, blockchain ?

Flow is a fast, decentralized, and developer-friendly blockchain, designed as the foundation for a new generation of games, apps, and the digital assets that power them. It is based on a unique, multi-role architecture, and designed to scale without sharding, allowing for massive improvements in speed and throughput while preserving a developer-friendly, ACID-compliant environment.

Flow empowers developers to build thriving crypto- and crypto-enabled businesses. Applications on Flow can keep consumers in control of their own data; create new kinds of digital assets tradable on open markets accessible from anywhere in the world; and build open economies owned by the users that help make them valuable.
Smart contracts on Flow can be assembled like Lego blocks to power apps serving billions of people, from basketball fans to businesses with mission-critical requirements.
for more information read here

What is Osmosis, blockchain ?

Osmosis is a fully-customizable AMM that allows developers to build truly unique liquidity pools, and build and deploy custom AMMs that can quickly adjust to changing market conditions.

What is Algorand, blockchain ?

Algorand (ALGO) is both a digital currency and blockchain platform. The Algorand platform is designed to process many transactions quickly, similar to major payment processors like Mastercard or Visa. In addition, Algorand can host other cryptocurrencies and blockchain-based projects, making it a direct competitor to Ethereum. ALGO, the platform's native currency, is used to secure the Algorand blockchain and pay processing fees for Algorand-based transactions.1

What is Gnosis , blockchain ?

Gnosis is an open-source, decentralized prediction market built on the Ethereum blockchain. Users are able to create markets where they can speculate on any event or arbitrary outcome. By using the Ethereum Protocol, Gnosis is able to guarantee a secure and transparent ecosystem.

What is Ethereum, blockchain ?

Ethereum is a decentralized, open-source blockchain with smart contract functionality. Ether is the native cryptocurrency of the platform. Among cryptocurrencies, ether is second only to bitcoin in market capitalization. Ethereum was conceived in 2013 by programmer Vitalik Buterin.

What is Optimism , blockchain ?

Optimism is a fast, stable, and scalable L2 blockchain built by Ethereum developers, for Ethereum developers. Built as a minimal extension to existing Ethereum software, Optimism's EVM-equivalent architecture scales your Ethereum apps without surprises.

What is Near, blockchain ?

Near Protocol is a layer 1 blockchain network. It provides a platform on which developers can build decentralized applications (dapps).

What is Avalanche, blockchain ?

Avalanche is a decentralized, open-source proof of stake blockchain with smart contract functionality. AVAX is the native cryptocurrency of the platform. Wikipedia

Sorry, some queries are heavy and in case of refresh it may take almost 10 minutes

In this dashboard you will read ✍

How do monthly active users compare between chains?
Comparison of user retention in Flow versus others using 2 different methods
- method 1 : How have users performed each month separately?
- method 2 : What is the average time interval between two user transactions and what category are they in?
How often do users who purchase an NFT come back and make another purchase one month later?
- method 1 : How have users performed each month separately?
- method 2 : What is the average time interval between two user transactions and what category are they in?

Some Notes 📝

All charts and comparisons are set from the beginning of 2022
The graphs of method 1 are a bit heavy

Chart & Analyze 🧪📊

How do monthly active users compare between chains?

Comparison of user retention in Flow versus others

🕵️‍♀️ observations

Observations show that the number of active users who have had at least 2,000 transactions since the beginning of 2022 in the Flow blockchain has been almost the same in most months, and this indicates that it has maintained its active users.
There is also a paradoxical example in the Avalanche blockchain, the retention of active users has decreased over time and it has lost its users.
But in terms of the number of transactions of these active users, the matter is more interesting: observations show that since the beginning of 2022, the active users of the Flow blockchain have increased their number of transactions day by day, and this blockchain has surpassed all competitors in the last 2 months (November). He has surpassed himself And it has prepared itself in this benchmark (cumulative) to fight against the Algorand blockchain

Method 1 [heavy]

🕵️‍♀️ observations

The graphs above separate the users of each month and compare their transactions in the same month and later
In these charts, the first thing that catches the eye is that in the Flow blockchain, there is a lot of confusion in this chart, but in the charts of other blockchains, they mostly have the same order.
In these graphs, frustration represents the retention of each month's user in subsequent months
In graphs such as Algorand, Ethereum or Near blockchain, if you pay close attention, over time, the number of user transactions has decreased every month, this shows that users do not increase their transactions in other months, but in the Flow blockchain, this is completely different
Another noteworthy point is that in all blockchains and graphs, users who transacted in January appear to be more active throughout the year than users in other months.

🕵️‍♀️ observations

In these diagrams, it is a better view to understand the concepts of the above diagrams.
Most users of blockchains such as Avalanche, Optimism, Ethereum, and Osmosis have made a certain percentage of transactions in each month they have been added and have been less active day by day, but in Flow blockchain, for example, users from March to November have more than 60 % of the transactions of this blockchain have been done
Users of different months in the Flow blockchain have been more active in other months. Keeping users in the Flow blockchain is great

Comparison of user retention in Flow versus others

Method 2

🕵️‍♀️ observations

These graphs consider the date of the first transaction of each user (assuming that the blockchain started working in January) with the date of the last transaction, and also consider the number of transactions of each user in this time period. Then, by dividing the time period of each user by the number of transactions, these charts are formed
In the Flow blockchain, the number of users whose average time interval between their two transactions is between 3 weeks to 1 month or 1 to 2 months or more than 3 months shows a significant number compared to other blockchains, this indicates user retention.
The rest of the blockchains have a high percentage of time interval of less than 1 minute

🕵️‍♀️ observations

These charts are the information of the charts above, which are in percentage form
Monthly user retention in Blockchain Flow:
- Between 3 Week And 1 Month 33.7%
- Between 1 ~ 2 Month 15.2%
- Between 2 ~ 3 Month 1.25%
- More Then 3 Month 6.75%
Monthly user retention in Blockchain Ethereum:
- Between 3 Week And 1 Month 2.57%
- Between 1 ~ 2 Month 6.64%
- Between 2 ~ 3 Month 3.95%
- More Then 3 Month 4.73%
Monthly user retention in Blockchain Optimism:
- Between 3 Week And 1 Month 1.68%
- Between 1 ~ 2 Month 2.9%
- Between 2 ~ 3 Month 0.34%
- More Then 3 Month 5.4%
In the rest of the blockchains, the monthly user retention percentage is low, and the Flow blockchain maintains its users well.

How often do users who purchase an NFT come back and make another purchase one month later?

Method 1 [heavy]

🕵️‍♀️ observations And Conclusion 🎉

🕵️‍♀️ observations

These numbers show a general view of the average time between two transactions for each user in a day and a month.
The numbers are sorted from left to right from the highest to the lowest.
This measure in Flow blockchain is an average of 16 days per user, which is the highest, and the lowest is related to Algorand blockchain, which is 1.8 days.
Flow (~ 16 Day )> Ethereum (~ 11 Day )> Avalanche (~ 4.6 Day ) > Osmosis (~ 4 Day )> Gnosis (~ 4 Day )> Optimism (~ 3.7 Day ) > Near (~ 3 Day )> Algorand (~ 2 Day )

Conclusion 🎉

the number of active users who have had at least 2,000 transactions since the beginning of 2022 in the Flow blockchain has been almost the same in most months
since the beginning of 2022, the active users of the Flow blockchain have increased their number of transactions day by day
in all blockchains , users who transacted in January appear to be more active throughout the year than users in other months.
Users of different months in the Flow blockchain have been more active in other months. Keeping users in the Flow blockchain is great
Monthly user retention in Blockchain Flow:
- Between 3 Week And 1 Month 33.7%
- Between 1 ~ 2 Month 15.2%
- Between 2 ~ 3 Month 1.25%
- More Then 3 Month 6.75%
Overall Average Time Between Two Transactions
- Flow (~ 16 Day )> Ethereum (~ 11 Day )> Avalanche (~ 4.6 Day ) > Osmosis (~ 4 Day )> Gnosis (~ 4 Day )> Optimism (~ 3.7 Day ) > Near (~ 3 Day )> Algorand (~ 2 Day )

🕵️‍♀️ observations

Comparing NFT purchases made by users of different blockchains, user retention and repeat purchases are seen, but not heavily transacted.
Another point is that on the Flow blockchain, January users have made numerous purchases throughout the year
User retention in these metrics is higher in Flow and Ethereum blockchains than in other blockchains

🕵️‍♀️ observations

Users' purchases every month in the Optimism blockchain are specific to that month, and user retention is not observed much
In Algorand, users will buy again every month in the next 2 months
But in Flow and Ethereum users are buying continuously for months

How often do users who purchase an NFT come back and make another purchase one month later?

Method 2

🕵️‍♀️ observations

Most users make purchases less than 1 minute apart in all blockchains
In Algorand and Optimism blockchains, a lower percentage of users buy more than 1 minute once compared to Flow and Ethereum

🕵️‍♀️ observations

Monthly user retention in Blockchain Flow:
- Between 3 Week And 1 Month 2.24%
- Between 1 ~ 2 Month 3.11%
- Between 2 ~ 3 Month 0.755%
- More Then 3 Month 1%
Monthly user retention in Blockchain Ethereum:
- Between 3 Week And 1 Month 2.97%
- Between 1 ~ 2 Month 4.37%
- Between 2 ~ 3 Month 1.1%
- More Then 3 Month 1.35%
Monthly user retention in Blockchain Optimism:
- Between 3 Week And 1 Month 1.04%
- Between 1 ~ 2 Month 2.56%
- Between 2 ~ 3 Month 0.877%
- More Then 3 Month 2.13%

🕵️‍♀️ observations And Conclusion 🎉

🕵️‍♀️ observations

The numbers are sorted from left to right from the highest to the lowest.
This measure in Ethereum blockchain is an average of 6.6 days per user, which is the highest, and the lowest is related to Algorand blockchain, which is 2.83 days.
Ethereum (~ 6.6 Day )> Flow (~ 5.3 Day )> Optimism (~ 3.2 Day ) > Algorand (~ 2.8 Day )

Conclusion 🎉

Comparing NFT purchases made by users of different blockchains, user retention and repeat purchases are seen, but not heavily transacted.
in Flow and Ethereum users are buying continuously for months
Monthly user retention in Blockchain Flow:
- Between 3 Week And 1 Month 2.24%
- Between 1 ~ 2 Month 3.11%
- Between 2 ~ 3 Month 0.755%
- More Then 3 Month 1%
Overall Average Time Between Two Buy Transactions
- Ethereum (~ 6.6 Day )> Flow (~ 5.3 Day )> Optimism (~ 3.2 Day ) > Algorand (~ 2.8 Day )

Summary 📋

User retention based on normal transactions

the number of active users who have had at least 2,000 transactions since the beginning of 2022 in the Flow blockchain has been almost the same in most months
since the beginning of 2022, the active users of the Flow blockchain have increased their number of transactions day by day
in all blockchains , users who transacted in January appear to be more active throughout the year than users in other months.
Users of different months in the Flow blockchain have been more active in other months. Keeping users in the Flow blockchain is great
Monthly user retention in Blockchain Flow:
- Between 3 Week And 1 Month 33.7%
- Between 1 ~ 2 Month 15.2%
- Between 2 ~ 3 Month 1.25%
- More Then 3 Month 6.75%
Overall Average Time Between Two Transactions
- Flow (~ 16 Day )> Ethereum (~ 11 Day )> Avalanche (~ 4.6 Day ) > Osmosis (~ 4 Day )> Gnosis (~ 4 Day )> Optimism (~ 3.7 Day ) > Near (~ 3 Day )> Algorand (~ 2 Day )

User retention based on NFT purchase transactions

Comparing NFT purchases made by users of different blockchains, user retention and repeat purchases are seen, but not heavily transacted.
in Flow and Ethereum users are buying continuously for months
Monthly user retention in Blockchain Flow:
- Between 3 Week And 1 Month 2.24%
- Between 1 ~ 2 Month 3.11%
- Between 2 ~ 3 Month 0.755%
- More Then 3 Month 1%
Overall Average Time Between Two Buy Transactions
- Ethereum (~ 6.6 Day )> Flow (~ 5.3 Day )> Optimism (~ 3.2 Day ) > Algorand (~ 2.8 Day )