Stablecoins on Osmosis

    The past week has been an eventful time for stablecoins on Osmosis. Proposal #218 passed on May 8th, which signals community support for adding OSMO rewards to the OSMO/USDC (#678) pool. In addition, a massive sell-off of UST has caused it to depeg from its price of $1. How have these events affected the liquidity and volume in the USDC and UST pools on Osmosis? How many unique wallets have transferred liquidity from the UST pool to the USDC pool, and what other impacts have been felt on Osmosis liquidity pools as the effects of UST’s depegging continue to reach into the wider crypto markets?

    Introduction

    1. The number of assets/liquidity removed from UST-paired and USDC-paired liquidity pools since May 8th, 2022 will be examined in this dashboard.
    2. We will also look at how many assets/liquidity have been added to UST-paired and USDC-paired liquidity pools since May 8th, 2022.

    Approach

    1. We will be looking at timestamp after May 8th because Proposal #218 on Osmosis was approved on that date, and UST depeg begins on May 9th 2022.
    2. A liquidity pool has two assets; for example, in this dashboard's LUNA/UST pool, LUNA is the first asset and UST is the second asset.
    3. Because Osmosis is new to me and the tables are slow and complicated, I find it difficult to query them.
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    1. The bar chart above shows number of Assets removed from UST-paired and USDC-paired liquidity pools since May 8th 2022
    2. In terms of liquidity, the most UST liquidity has been removed from the UST/OSMO LP, with 107M UST removed from that pool since May 8th, 2022.
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    1. The bar chart above shows number of assets added to UST-paired and USDC-paired liquidity pools since May 8th 2022.
    2. The XPRT/UST liquidity pool has the most UST deposited, with 1.19M UST deposited since May 8th, 2022.

    Conclusion

    1. The UST/OSMO LP has had the most UST liquidity removed from it, with 107M UST removed since May 8th, 2022.
    2. With 1.19M UST deposited since May 8th, 2022, the XPRT/UST liquidity pool has the most UST deposited.