Daily Active User

    What does a Daily Active User look like on Osmosis? First, plot out how many DAUs there are on Osmosis. For this exercise, consider a DAU would be any wallet transacting on Osmosis a majority of days every week. Once you have the DAUs, what does their activity look like? Do they LP more or swap more? How often do they transfer tokens into Osmosis? Where are these transfers coming from? BONUS: Post your dashboard on Twitter and tag @flipsidecrypto and any relevant accounts!

    Date: 2022-10-20

    This analysis is focused on daily Active Users (DAUs) and their activities on Osmosis.

    All data is from the beginning until now.

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    Quick introduction

    What is Osmosis?

    Osmosis is an automated market maker (AMM) protocol that allows developers to create bespoke AMMs with sovereign liquidity pools. Osmosis, which was built with the Cosmos SDK, makes use of Inter-Blockchain Communication (IBC) to facilitate cross-chain transactions. In other words, Osmosis is a decentralized exchange designed particularly for Cosmos, with intention to spread to other blockchains in the future.

    Osmosis is one of the first Cosmos-based AMM DEX. TVL of Osmosis increase 100% since the beginning of 2022 ( $811.63m – $1.79b), Besides Cosmos is top 20 in the cryptocurrency market so the growth potential of Osmosis in the future is feasibility. Osmosis is inspired by Uniswap, Balancer, and Curve Finance, so it has the advantages of all three mentioned AMMs. The goal for Osmosis is to provide the best-in-class tools that extend the use of AMMs within the Cosmos ecosystem beyond traditional token swap-type use cases.

    Osmosis is a sovereign Cosmos zone that draws its sovereignty not only from its application-specific blockchain architecture but also from the collective sovereignty of the LPs who have aligned interests in various tokens for which they provide liquidity.

    What makes Osmosis unique?

    Osmosis is unique within the Cosmos Ecosystem as it aligns LPs, DAO Members and delegator interests with a variety of incentives.

    Staked liquidity providers have sovereign ownership over their pools which they can adjust the parameters to fit the current market condition and pool competitiveness.

    Also, LP providers would be able to vote to change any pool parameter such as swap fees, token rates and reward incentives.

    Methods

    Who is meant by DAU❓ In this dashboard, DAU refers to the wallet that transacts on Osmosis a majority of days every week. In fact, during the days of his activity (from the date of the first transaction until now), he has been active for at least 50% of the days.

    ↘️ Look at the code below:

    with DAUs as(
        select
            TX_FROM,
            datediff(day, min(BLOCK_TIMESTAMP :: date), CURRENT_DATE) as "Total days of activity",
            count(distinct BLOCK_TIMESTAMP :: date) as "Activity days"
        from
            osmosis.core.fact_transactions
        where
            TX_STATUS = 'SUCCEEDED'
        group by
            TX_FROM
        having
            "Activity days" >= (50 / 100) * "Total days of activity" --It has been active for more than 50% of the days of activity.
    )
    

    ↗️ Next, I displayed the total number of DAUs and their number on a weekly basis. Then I examined the activities of DAUs in the 2 areas of LP and swap and compared them.

    Finally, I discussed the transfers of tokens from DAUs to Osmosis from the two aspects of the sources and the date of transfers.

    🔢 Tables used in this dashboard:

    > :one: osmosis.core.fact_transactions > > :two: osmosis.core.fact_transfers > > :three: osmosis.core.fact_liquidity_provider_actions > > :four: osmosis.core.fact_swaps

    📝 Only successful transactions are calculated in the dashboard (TX_STATUS = 'SUCCEEDED') and to calculate transfers to Osmosis, I also applied the condition transfer_type = 'IBC_TRANSFER_IN'.

    Conclusion

    • By analyzing the data and charts of this dashboard, we can conclude that DAUs have done more swaps than LPs.
    • Of 15,670 DAUs, about 56% of DAUs, which is about 14,728 wallets, have done swap transactions, and on the other hand, about 44% of DAUs have done LP transactions.
    • According to the weekly trends of LP and Swap activities, it can be said that swap activity has performed better than LP over time and LPs have been decreasing compared to the swappers in recent weeks.
    • We also observed that, DAUs usually transfer their tokens to Osmosis in the second week of every month! The highest transaction is transferred to Osmosis with 67,712 transactions from last week. (second week of October)
    • And finally, by examining the origins of DAUs transfers to Osmosis, we saw that the address bostrom1rl7lksuzayz5j0u0p35ezrw95czp3gyt4emcwf is the most popular among DAUs with about 101K transfers to Osmosis. In fact, about 60% of DAUs were transferred from this address to Osmosis.

    Thanks for reading!

    This analysis was created on 2022–10–20 for a bounty at Flipside Crypto by Hesam to answer the following questions: #Osmosis - What does a Daily Active User look like on Osmosis? First, plot out how many DAUs there are on Osmosis. For this exercise, consider a DAU would be any wallet transacting on Osmosis a majority of days every week. Once you have the DAUs, what does their activity look like? Do they LP more or swap more? How often do they transfer tokens into Osmosis? Where are these transfers coming from?

    BONUS: Post your dashboard on Twitter and tag @flipsidecrypto and any relevant accounts!

    All data used are from Flipside Crypto.

    Twitter:

    💠 How many DAUs there are on Osmosis?

    From the beginning until now, among Osmosis users, 15,670 wallets are DAUs.

    That is, 15,670 users have had successful transactions in Osmosis in more than 50% of their total activity days.

    For example, a user who joined Osmosis a month ago must be active and transacted in Osmosis for at least 15 days.

    💠 Weekly #DAUs:

    Loading...

    :chart: Analyze

    In the chart above, you can see the number of DAUs on a weekly basis. This chart shows the number of DAUs that transacted that week.

    As we can see, the upward trend started from the :calendar:beginning of 2022 and continued until the end of May 2022, but since June they have had a sharp drop and have almost halved.

    :arrow_right: Next, we want to check the type of activity of DAUs and see they do more LP or do more swaps.

    :small_blue_diamond: Weekly LP of DAUs:

    :small_blue_diamond: Weekly Swaps of DAUs

    💠 Do DAUs LP more or swap more?

    :chart: Analyze

    The first chart shows the number of DAUs and their LP transactions.== It is well known that the transactions were on the rise:chart_with_upwards_trend: in the middle of March, but from the middle of March 2022 until now, the trend was reversed and downward:chart_with_downwards_trend:. The number of users has decreased with a smaller slope.

    But the second chart says something else❕ The second chart shows the number of swaps and swapper DAUs. Although the number of swaps has grown with a milder slope since the beginning, except for one or two months, there has been no sharp drop until now, and this shows the desire of most DAUs to swap. The black line that shows the number of swappers every week is also ascending.

    💠 Weekly LP vs. Swap (In #Users):

    :chart: Analyze

    In the charts above, we can see and compare the number of DAUs that had LP or swap. The most DAUs that LP has done is in mid-March with 6257 DAUs. It is also the most swapped for the second week of October with 9293 DAU.

    In the normalized chart, you can also compare the DAU trends of the 2 activities. Obviously, the blue bars that represent ==LPs have been decreasing compared to the swappers in recent weeks==.

    💠 Weekly LP vs. Swap (In #Transactions):

    :chart: Analyze

    Here, as above, you can make a comparison between LP and swap activity, but in terms of the number of transactions. The most transactions are for the second week of May with about 363,413 transactions, and the most LP transactions are for the third week of January with 60,793 successful transactions. Here, in the normalized chart, we can see that swap activity has performed ==better== than LP over time.

    💠 Percentage share of each activity (LP vs. Swap):

    :small_blue_diamond: LP vs. Swap (In #Users):

    :small_blue_diamond: LP vs. Swap (In #Transactions):

    :chart: Analyze

    In general, about 56% of DAUs, which is about 14,728 wallets, have done swap transactions, and on the other hand, about 44% of DAUs have done LP transactions.

    But this difference is much more in terms of the number of transactions. According to the second donut chart, about 81.4% of DAU transactions were ==swaps== (about 7,897,758 transactions), and only 18.6% of transactions from the beginning until now (1,708,090 transactions) were related to ==LP activity.==

    💠 How often do they transfer tokens into Osmosis?

    :chart: Analyze

    According to the chart above, DAUs usually transfer their tokens to Osmosis in the ==second week of every month==! The highest transaction is transferred to Osmosis with 67,712 transactions from last week. (second week of October)

    The interesting thing is that the trend of transfers to Osmosis has not decreased and this shows the popularity of Osmosis among users, especially DAUs.

    💠 Where are these transfers coming from?

    :chart: Analyze

    In the charts above, we can also see the top 10 origins of DAUs from which they transfer their tokens to Osmosis.

    The address bostrom1rl7lksuzayz5j0u0p35ezrw95czp3gyt4emcwf is the :1st_place_medal:most popular among DAUs with about 101K transfers to Osmosis. In fact, about 60% of DAUs were transferred from this address to Osmosis.

    And after that is the address juno1yz54ncxj9csp7un3xled03q6thrrhy9cuzxzn7, which is in :2nd_place_medal:second place with about 12.7K transfer transactions.

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