Overview

Many users have been prompted to sell their risky assets in order to reduce their losses and wait it out as a result of the present bear market in the whole financial sector.

The following metrics on the ‘health’ of Gnosis will be analysed in this report:

1. Gnosis transaction per second
2. Gnosis transaction success rate
3. Number of transactions and users transacted on Gnosis per day
4. Most transacted assets on Gnosis (Excluding xDAI)
5. Amount in USD and number of transactions for xDAI on Gnosis
6. Smart contracts that have transferred the most amount of xDAI
7. Smart contracts that have received the most amount of xDAI

1. We can observe that the transaction per second on Gnosis has been steadily declining since the end of May.
2. The TPS of Gnosis reached a high on the 30th of May with 1.278 TPS.
3. After the peak, the transaction per second of Gnosis have dropped and have reached a low on the 10th of July at 0.476 TPS.
4. The TPS have recovered slightly and remained above 0.5 TPS each day.

1. The transaction success rate chart displays that Gnosis' success rates have not been very stable and have been quite variable.
2. On June 8th, Gnosis' success rates dropped to a record low, with only 55% of transactions being successful.
3. On the plus side, since the 13th of July, the transaction success rate of Gnosis have remained above 90% everyday.

1. The number of transactions and users transacted on Gnosis have been extremely consistent despite being in a bear market.
2. There were around 4,000 users transacted and 50,000 transactions executed on Gnosis per day.
3. Both metrics reached a high on the same day during the 13th of June with 6,283 users transacted and 87,591 transactions executed.
4. Given that Gnosis have not seen any decrease in activity, this demonstrates how engaged its users are.

Key Findings

1. According to all of the above metrics, since the month of July, the transactions per second, success rate, number of transactions and users transacted on Gnosis have been fairly stable.
2. Users would generally transact with stablecoins instead of their risky assets to during a bear market to reduce their losses. Therefore, 6 of the 10 most transacted assets on Gnosis are stablecoins.
3. During the second week of July, the amount of xDAI transacted has increased by around eight fold.
4. Given that there hasn't been any obvious decline in activity, it is reasonable to say that Gnosis has remained rather "healthy" throughout this bear market.

1. Out of the 10 most transacted assets on Gnosis, 6 of the most transacted assets are stablecoins like: DAI, USDC and USDT
2. Due to being in a bear market, it makes perfect sense that users would transact with stablecoins instead of their highly volatile assets to help minimise their losses.
3. Next, we can observe that there was a sharp increase in the number of xDAI transactions, from just 3,055 transactions on the 23rd of May to over 9,000 transactions on the next day.
4. Following that, the number of xDAI transactions have been above 7,000 transactions on a daily basis.
5. On the other side, the xDAI volume transacted have increase around eight fold on the 12th of July from $5.7 million dollars to a high of $50 million dollars on the 13th of July.