Try Quests to earn cryptoHot Contracts on Osmosis
Introduction
Osmosis is a cross-chain automated market maker (AMM) protocol built using the Cosmos SDK that allows developers to design, build and deploy their own customized AMMs.
AMMs are typically pools of digital assets managed by a smart contract used to enable decentralized trading. The liquidity pools and smart contracts replace the order book system; liquidity providers lock their assets into the pool and earn fees when people trade in these pools.
\n In this dashboard, we are going to analyse the contracts deployed on Osmosis chain. We are going to look for top contracts and study their relation with Terra crash.
Approach
In Osmosis blockchain a contract is actually a liquidity pool, that is used to LP and swap tokens. In this study, the osmosis.core.fact_swaps table is used to find these pools. The pools used in each transaction is stored in an array, to flatten that array and get each pool, following code is used:
TABLE(FLATTEN(s.POOL_IDS))
This function puts each pool used for a transaction in a separate row, making calculations simpler.
As requested in the question, May data is used.
Top Pools by Transaction Count
Before narrowing down the results to the top 10 pools, let's examine the distribution of pools based on their share of the number of transactions since May. The donut chart below, shows the amount of shares for top 9 and Other pools. It can be seen that the top pools account for half of the transactions.
The next chart shows the total number of transaction processed by the top 10 pools. the table below shows the names of these pools.
| POOL | NAME |
|---|---|
| Pool 1 | ATOM / OSMO |
| Pool 678 | USDC / OSMO |
| Pool 560 | USTC / OSMO |
| Pool 561 | LUNC / OSMO |
| Pool 722 | EVMOS / OSMO |
| Pool 497 | JUNO / OSMO |
| Pool 608 | LUM / OSMO |
| Pool 565 | LUNC / ATOM |
| Pool 5 | DVPN / OSMO |
| Pool 498 | ATOM / JUNO |
Pools Count
It can be seen that a cumulative total of 466 pools have been active since May. The chart below shows the number of daily active pools.
- The average number of active pool have increased during Terra crash.
- There is no data during June 9,10 and 11. On June 8, Osmosis blockchain was halted amid a possible $5 Million Exploit. more info : [coindesk→osmosis-chain-halted-amid-possible-5m-exploit]
- On June 13, the highest number of pools had been active since May, and for several days the number had been steadily decreasing, finally reaching the average number per day.
Top Pools Daily Transaction Count
The chart below shows the daily number of transactions per day by top 10 pools. It is obvious that during Terra crash, many of these pools became significantly active.
It can be seen that Pool 560, 565 and 561, all related to LUNA and UST, been very active on these days. It is also interesting to note that since May 8, Pool 678 (USDC/OSMO) became very active, it seems that users have lost their trust not only in LUNA but even in OSMO and swapped their tokens to stablecoin.
There is no other event as big as Terra crash, but it can be noted that on May 23, EVMOS pool (Poll 722) has increased transaction count a little bit for a few days. There is also the event of halting the chain, happened from June 8 to 11. that can be seen as days with zero transactions on the chart below.