Intros

Intro to cosmos

Cosmos is a decentralized blockchain ecosystem that enables developers to connect their blockchain to an interoperable network of other blockchains. The Cosmos objective is to usher in “Blockchain 3.0,” allowing developers to create a network capable of effortlessly transmitting transactions to and from other nodes. This “Internet of Blockchains” would enable creators to retain sovereignty while also interacting with the broader blockchain ecosystem.

Thus, the Cosmos project is an ecosystem comprised of numerous blockchains that are intended to coexist and flourish harmoniously. This “Internet of Blockchains” that connects them all has enormous promise.

Star gaze, ah ?

**Stargaze **is a fully decentralized NFT marketplace in the Cosmos ecosystem. Stargaze is a zone in the Cosmos ecosystem that exemplifies high levels of security, decentralization, transparency, and flexibility. Stargaze is designed as a Proof-of-Stake Cosmos zone from the beginning, providing it the greatest flexibility in terms of protocol design, compatibility, and scalability. The governance-driven development method of Cosmos chains allows for the rapid creation and iteration that a consumer social protocol requires. Furthermore, it can interface with any other blockchain, including Terra, Cosmos, and, in the future, Ethereum and Ethereum L2 networks, due to IBC and maybe Gravity Bridge.

Cosmoverse

Cosmoverse 2022 is the second edition of the biggest conference of the Cosmos ecosystem. Cosmoverse was the largest community driven crypto conference focusing primarily on the Cosmos chains. The event took place on September 26-28, 2022 at Medellin, Colombia.

As mentioned on its official website, Cosmoverse was not only a conference - it's the biggest community meet-up in the crypto industry!

The Cosmos community is the most inclusive community in the crypto industry. This community was full of amazing announcements and alpha leaks.

Stargaze at cosmoverse

All those alpha leaks, milestones ahead and team plans were spilled out during the cosmoverse. To understand how Cosmoverse impacted the stargaze token on osmosis, one needs to know what were announced during the events. The stargaze team spoke on the Day 2 of the conference. For readers who are interested in the event, they can view it here. The team made some amazing announcements.

Some of them I loved were,

1. Including Random minting.
2. Better filters on the marketplace to get the NFT you want quickly.
3. Testing out ETH NFT bridging in partnership with levana labs.

Alphas, who doesn’t love them-

1. Bringing the ability to define split structure (including weights for different accounts) allowing creators to deposit fees gained to multiple accounts.
2. New feature - Stargaze daily. 1 NFT a day. Like Nouns, to incentivise projects to keep NFT attractive to new buyers
3. ICQ - interchain query → allow quering from other marketplace in Cosmos.
4. IBC name service.
5. Supercooled NFT staking.

Twitter thread with complete details on changes :

Analysis

Price and volume

We first look at the Price and volume of the STARS token ( both before and after the cosmoverse event) and also compare it with ATOM to understand the response of the community to the cosmoverse communtiy.

The above chart shows the current top holders of STARS on the osmosis chain.

Swap activity

We now look at the swapping activity of STARS token and analyse if and how users have speculated or reacted to the cosmoverse event using its STARS token. We primarily look at the STARS token on osmosis chain as osmosis the leading DEX on cosmos ecosystem.

Tokens swapped to/from stars

Note

How to read the graph ?

1. The bright colors ( on the right) are after the cosmoverse event, while the dull colors ( on the left) are before the cosmoverse event.
2. Green color indicates, swaps from x token to STARS and red color indicates, swaps from STARS token to x token

Common swap routes since cosmoverse

Liquidity Providers

We now look at the engines of swaps, the liquidity pools and their liquidity providers.

How to read the graph ?

1. The bright colors ( on the right) are after the cosmoverse event, while the dull colors ( on the left) are before the cosmoverse event.
2. Green color indicates, provide liquidity to the pool while red color indicates, removing liquidity from pool

Pool analysis

Alright, but which pool was very active ?

And again the same drill, How to read the graph ?

1. The bright colors ( on the right) are after the cosmoverse event, while the dull colors ( on the left) are before the cosmoverse event.
2. Green color indicates, provide liquidity to the pool while red color indicates, removing liquidity from pool

All user analysis

Shoutout to Ali3n for his dashboard, from whom the following SQL code has been used. Dashboard -

Article in 7 sentences

Since the cosmoverse event, the price of STARS token has reduced by a meager 15% while it’s volume has reduced but is more stabilized now. In the days before and after cosmoverse, the number of swap transactions increased by 150-200%. Atom - stars swaps involve the highest volumes with OSMO-STARS swaps increasing. 150-200% increase in LP actions during cosmoverse event buildup. Existing users increased their share of liquidity. post cosmoverse event, A lot of liquidity was removed from stars-atom and stars-osmo pools with only the ststars-stars pool showing net increase in volume. Majority users use OSMOSIS only to swap STARS token.

Twitter thread :

Refernce

1. Ali3n’s dashboard -

Observation

• Since cosmoverse, Around 96% of the users have used the swapping feature of OSMOSIS to indulge in activities related to STARS, while only ==0.5% were Liquidity providers only. 3.5% were users who did both, swapped and provided liquidity== as well.

Observation

• The price of STARS token has reduced considerable, almost to the tune of 94 %, which is huge.
• However, most of this decline happened before the cosmoverse, ==since the cosmoverse, the price has reduced by a meager 15%.==
• The Price of atom and STARS follow the same trend and are highly correlated

• ==The volume of stars reduced during the days immediate before and after the cosmoverse.== The volume has yet to recover to pre-cosmoverse levels.
• While the v==olume of Atom has reduced steeply== in the last 1 month, ==Stars has held it’s own== and the volume has stabilized. This indicates a positive response of the community to cosmoverse.

Observation

• The ==number of swap transactions increased by almost 25% in the days leading up to the event and has since reduced==, indicating that people did speculate using stars token.
• A huge number of tokens were bought on october 11.

Obsevation

• ==Atom - Stars have the highest rotation of volume.== with around 40k USD worth of STARS being bought and sold on the osmosis chain.

• The volume of USDC rotated was higher before the cosmoverse event, but has since reduced and the ==OSMO-STARS swapping has increased. i==ndicating more confidence in Osmo and Stars.

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Observation

Analysis of transactions

1. ==150-200% increase in transactions==. The number of transactions that involved liquidity providers increased in the ==immediate days following and preceding the cosmoverse event== and has since returned to previous layers.
2. The number of transaction attributed to liquidity provision is far greater than removing liquidity.

Users

1. ==Existing users too have increased their share in LP when the event was about to take place.==
2. Surprisingly, the number of new users (who made their first contribution to the pool) gives mixed outlook. While it reduced on some days, it increased on some.

Volume analysis

1. Oof, one huge whale incoming. On

September 22, 2022. a huge whale provided close to 800k USD worth of stars token.

Observation

Nice!!, We have ~one~ two interesting graphs here.

1. Before the cosmoverse event took place, A lot of volume was staked in the stars-stSTARS (staked-stars) and in the same breath, the volume was removed from stars-atom pools. And the net volume of stars-osmo didn’t have huge movements either.
2. ==post cosmoverse event, A lot of liquidity was removed from stars-atom and stars-osmo pools with only the ststars-stars pool showing net increase in volume.==

Key takeaways

• Since the cosmoverse event, the price of STARS token has reduced by a meager 15% while it’s volume has reduced but is more stabilized now.
• In the days before and after cosmoverse, the number of swap transactions increased by 150-200%. A
• tom - stars swaps involve the highest volumes with OSMO-STARS swaps increasing.
• 150-200% increase in LP actions during cosmoverse event buildup.
• Existing users increased their share of liquidity.
• Post cosmoverse event, A lot of liquidity was removed from stars-atom and stars-osmo pools with only the ststars-stars pool showing net increase in volume.
• Majority users use OSMOSIS only to swap STARS token.

Tables and contracts used

1. Price and volume of tokens → osmosis.core.dim_prices with symbol=’STARS’
2. Address of STAR token → `ibc/987C17B11ABC2B20019178ACE62929FE9840202CE79498E29FE8E5CB02B7C0A4
3. Swap activity → osmosis.core.fact_swaps with from_currency or to_currency set to star token
4. liquidity providing actions → osmosis.core.fact_liquidity_provider_actions with currency set to star token address.

Twitter thread explaining dashboard: