Introduction

OlympusDAO experienced rapid growth immediately after its inception. Its native token, OHM, during the blossoming period of the crypto market last year drew lots of attention and as I showed elsewhere the number of users who initiated a transaction involving OHM increased remarkably. However, in 2022 both OHM price and OHM users considerably decreased.

This dashboard examines the popularity of the OlympusDAO's protocol itself and compares its changes with OHM price changes over time.

Definitions and measures

1- Daily number of unique active users on OlympusDAO protocol has been measured by the number of unique users that interact with the protocol's contract addresses (in Flipside data those addresses have label 'olympusdao'.

2- The OHM price is measured by averaging hourly price available by Oracle (for this purpose Ethereum.schema, token_prices_hourly table has been used.

Analysis

The graph below shows the daily number of users on OlymposDAO protocol.

The graph below shows the daily number of users against OHM price.

We can see the number of users went up and down hand in hand with the price except in the early stages in in 2021.

To have a better understanding of the relationship between price and active users, I exclude the early stage high price of OHM and focus on the the period after June 15th 2021.

The graph below shows the relationship between OHM price and OlypusDAO protocol active users.

A positive correlation is visually observable.

Conclusion

The visualizations show that there is a correlation between the price of OHM over time and daily active users. However, it is difficult to grasp what my cause the other.

We can also see that the correlation is more extensive in the price less than $600 and the number of active users less than 1500.