Try Quests to earn cryptoOsmosis - 3. Matic on Deck
About This Dashbard
- We will attempt to track the flow of Matic to Osmosis in this dashboard in order to determine where this MATIC is coming from and whether users are removing this MATIC from specific protocols in order to bridge over to Osmosis. Additionally, we will analyze the change in daily bridged volume since incentives were turned on to judge the success of the incentives in driving liquidity over to Osmosis and whether most users are bridging MATIC new users or existing Osmosis power users.
\n
Daily, Total, and Average Transfer Details
- It is obvious that incentives had a significant impact on the MATIC transfers to Osmosis, not only in terms of the number of transactions but also in terms of the number of users and the volume transferred.
- The incentives were implemented immediately following the proposal's approval on December 20, 2022. As we can see, the daily transfers of MATIC have been increasing as we can see, reaching a maximum of 35transfers on January 26, 2023. And daily MATIC transferers, and as we can see, their number has been increasing and peaked on January 20, 2023, with 23 transferors. The daily transfer volume of MATIC has a bullish tendency, and it peaked on December 22, 2022, with 49.081K volume.
- It appears that at least 5 transfers of MATIC to Osmosis have occurred daily since the introduction of the incentives. Additionally, the volume appears to have set a new low of about 825.63 tokens.
New Users vs. Existing Users
- When we examine the users who send MATIC to Osmosis, we can determine that new users account for the majority of the users. Almost 70% of transfers since Osmosis' launch have been carried out by new users, compared to only 30% by existing users.
- The amount of MATIC transmitted by osmosis has a comparable effect. Since the incentives were approved on December 20th, the majority of them have been sent, and the majority of active receivers during that time have been new users.
Daily, Total, and Average Transfer Details By Source Chain
- A bullish tendency is evident in the number of transactions, which peaked on January 26, 2023, with 35 transfers and most of them happened with Axelar as the source chain which is visible using the total transfer charts. There was only one day when kujira and cosmos transfers took place.
- Axelar also has the dominance in the case of transfers' volume, and on December 22, 2022, it reached its peak with 49.081K volume. Transfers of kujira and cosmos only happened on just one day.
- Also, we can see that incentives had a significant impact on the MATIC transfers to Osmosis as the majority of them happened after incentives approval. Cosmos and Kujira, with only 2 and 1 transfers, are the other origins for these transfers.
#386 WMATIC bootstrapping liquidity incentives:
Description
- By voting YES on this proposal, OSMO stakers voice their support for bootstrapping WMATIC liquidity by manually allocating 0.5% of liquidity incentives to the OSMO/WMATIC pool (#789)
- By voting NO on this proposal, OSMO stakers voice their dissent to bootstrapping WMATIC liquidity by manually allocating 0.5% of liquidity incentives to the OSMO/WMATIC pool (#789)
Details
The normal signalling proposal to allocate WMATIC incentives would go into effect at the next routine incentives proposal providing incentives on the 25th December. This proposal would provide initial incentives on the 20th December by actioning the following:
- Directly allocating 0.5% of incentives to go to OSMO/MATIC (#789)
- Set Minimum incentives for the OSMO/MATIC (#789) pool of 0.5% for 4 routine proposals to retain this level of liquidity incentives while liquidity is built.
Bootstrapping incentives indicate that Osmosis stakers wish to quickly establish functional liquidity of WMATIC to facilitate trading and liquidity flow between Polygon and Osmosis via the Axelar bridge.
Source
About WMATIC
WMATIC is the wrapped version of MATIC that enables use on the Polygon network. WMATIC is similar in liquidity to WETH as the most liquid, volatile asset across Polygon.
Source
Why provide liquidity to a pool?
For investors, liquidity provision can be lucrative. Protocols incentivize liquidity providers through token rewards.
This incentive structure has given rise to a crypto investment strategy known as yield farming, where users move assets across different protocols to benefit from yields before they dry up.
Most liquidity pools also provide LP tokens, a sort of receipt, which can later be exchanged for rewards from the pool—proportionate to the liquidity provided. Investors can sometimes stake LP tokens on other protocols to generate even more yields.
Source
Introduction
Methodology
Charts
Summary
-
The incentives were implemented immediately following the proposal's approval on December 20, 2022. Incentives affected MATIC transfers to Osmosis in terms of transactions, users, and volume. MATIC's daily transfers have increased, peaking at 35 on January 26, 2023. Daily MATIC transferers have increased and peaked on January 20, 2023, with 23 transferors. MATIC daily transfer volume reached 49.081K on December 22, 2022. It appears that at least 5 transfers from MATIC to Osmosis have occurred daily since the introduction of the incentives. Additionally, the volume appears to have set a new low of about 825.63 tokens.
-
The total transfer charts show a bullish trend in transactions, which peaked on January 26, 2023, with 35 transfers, most of which were from Axelar. Kujira and cosmos transfers occurred only one day.
Axelar dominates transfer volume, peaking at 49.081K on December 22, 2022. Kujira and Cosmos transfers occurred only once. Since most MATIC transfers to Osmosis occurred after incentives were approved, incentives had a substantial impact. These transfers originate from Cosmos and Kujira, with 2 and 1 transfer, respectively.
-
axelar19xj4ncc6h6y5ahpfqtspdx75y3dkrxj3zpah9k sent 497.73K $MATIC in 665 transactions.
-
New users make up most MATIC-to-Osmosis senders. New users have made 70% of Osmosis transfers since introduction, compared to 30% by current users. Since December 20, most incentives have been delivered to new users.
Conclusion