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    shMonad Staking activity

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    Flipside AI

    Shmonad Testnet Ecosystem Analysis

    User Engagement Overview

    The Shmonad testnet has demonstrated remarkable early ecosystem dynamics, attracting 1,209,816 unique users engaging with liquid staking mechanisms. The platform has processed an impressive 5,687,993 total transactions, indicating robust user participation.

    Token Minting and Burning Dynamics

    Key Metrics:

    • Total shMON Minted: 1,529,366.07
    • Total shMON Burned: 2,166,437.39
    • Minting Transactions: 2.22x higher than burning transactions

    Activity Lifecycle

    The ecosystem experienced a dramatic growth trajectory, characterized by:

    • Near-zero initial activity
    • Exponential user engagement surge
    • Peak transaction volumes in mid-March 2025
    • Gradual stabilization towards the end of the testnet period

    User Behavior Insights

    A notable observation is the synchronized participation in staking and unstaking mechanisms. The top user (0x5a9a2c2fd03f89dacc83d54f589224fecec50370) demonstrated dominant staking activity.

    Ecosystem Trends

    The liquid staking token (LST) showed complex token flow dynamics, with significant variation in individual user staking behaviors. The net token flow indicates more tokens being burned than minted, suggesting potential yield optimization strategies among participants.

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    shMonad.xyz
    Shmonad is a Liquid Staking Token (LST) on Monad, allowing users to deposit MON (Monad’s native token) to mint shMON, which can be used within the ecosystem while retaining liquidity. This dashboard analyzes Shmonad contract activity on the Monad testnet , providing insights into user engagement, top user behavior, and time-based trends. It highlights the staking lifecycle (deposit MON to mint shMON, burn shMON to withdraw MON) and the impact of yield on activity. All amounts are in shMON, the vault token, with the net shMON flow reflecting the change in shMON supply.

    All amounts in this dashboard are in shMON, the Liquid Staking Token (LST) minted when users deposit MON and burned to withdraw MON. The net shMON flow reflects the change in shMON supply (minted - burned), not the net MON flow, which depends on the vault’s conversion rate. Higher shMON burned than minted suggests yield increased the value of shMON over time.

    Disclaimer: Flipside AI is here to help but it can make mistakes. Always review outputs and use the upvote/downvote buttons to help us improve. This content is not financial advice.