Try Quests to earn crypto📜 Introduction
In this dashboard, we are going to take a look at the LUNA 2.0 blockchain that was created in aftermath of Terra Collapse.
- First of all, we are going to take a look at the network utilization and performance
- In the next step, we will examine user and whales activities.
- Then, we will take a look at the top holders of the LUNA 2.0 chain.
- We will also look at the most active hours.
🌚 Terra Luna and Its Collapse
Terra was a blockchain, just like ethereum and bitcoin.
The collapse started on Saturday, May 7, when Over $2 billion worth of UST was unstaked (taken out of the Anchor Protocol), and hundreds of millions of that was immediately sold. Such huge sells pushed the price down to 91 cents. Traders tried to take advantage of arbitrage, exchanging 90 cents worth of UST for $1 worth of LUNA. Investors, already flighty in the current gloomy market, flocked to sell their UST once the stablecoin couldn't retain its peg.
🌝 Luna 2.0
Terra will continue without its algorithmic stablecoin UST and aims to preserve the Terra ecosystem with hundreds of developers working on different decentralized applications. The LUNA token will be airdropped across Luna Classic stakers, holders, residual UST holders and essential Terra Classic app developers.
At Genesis, 30% of the LUNA airdrop will be immediately available to pre-attack users with wallets that had less than 10k LUNA (including staking derivatives) or deposited UST in Anchor, and post-attack users with any quantity of LUNA (including staking derivatives), UST, or both.
🤔 Approach
Data Source and Tables
To conduct our study, we are using blockchain data provided by Flipside Crypto. From their datasets, following tables are used:
-
terra.core.fact_transactions -
terra.core.fact_blocks\
Methodology
We are going to use fact_blocks table to extract some blockchain performance information, such as TPS, the terra.core.fact_transactions table is also used to access some of the blockchain utilization data.
Definition
In this study Whales are defined as the top 100 users by the amount of LUNA they hold on LUNA 2.0 blockchain.
Study Period
Our study is conducted since the May 28th, the time of LUNA 2.0 inception.
When Failed Transactions Happened?
The following charts depict times and days of week that most failed transactions happen.
There is a correlation between active days of week and days of week when most fail transactions happen, with exception of Saturdays.
Lots of failed transaction occur when blockchain is busy, between 1 PM and 7 PM.
There are a lot of failed transactions on monday and Tuesday.
⌛ Active Hours
The following chart depicts the active hours and days on terra 2.0 chain.
- Saturday morning and Friday noon, as well as Monday working hours and Tuesday morning and working hours, has been very active.
- Saturday is the most active day, Thursday is the least active day.
- Night time, right before 5 AM, is drastically in active compared to daytime hours.
- 1 PM seems to be the most active hour overall.
Fee Spending
The following charts show the amount fees spent on successful and failed transactions on each day, as well as monthly average amount of fees that is spent on these transactions.
- On July 20, around 13K LUNA was spent on transaction fees, the all time high.
- Around June 8 and Aug 25 and Sep 9, There is a drastic increase of fees spent on failed trasnactions.
There has been an increase of failed transactions on June and September.
Transaction Per Second
The following chart depicts the hourly averaged TPS and the average TPS of each month of LUNA 2.0 blockchain.
It can be seen that:
- On the first few days of launch there is a lot of daily activity.
- On July and Aug, average TPS reaches its lowest number.
- On Sep 9 and 10, there has been an increase in TPS.
The high TPS on May or after launch can be expected, an increase of TPS in September is interesting.
🔎 Summary
- The high TPS on May or after launch can be expected, an increase of TPS in September is interesting.
- An increase in the average success rate is visible from month to month.
- There has been an increase of failed transactions on June and September.
- Saturday is the most active day, Thursday is the least active day.
- There is a correlation between active days of week and days of week when most fail transactions happen, with exception of Saturdays.
- Most LUNA 2.0 users joined on the first few days of its inception.
- the top 9 LUNA holders own more than 79% of all LUNA available.
