Try Quests to earn cryptoWhat's Going On With Gnosis?
Introduction:
There’s been some unusual activity with Gnosis as pointed out by the community. In this dashboard, we’ll try to figure out exactly what’s happened.
- Is there a new dapp that launched?
- Is there some incentive program going on?
- Is the spike in users/txns due to some sybil attack?
All Data is limited to after Sep 2022.
In this dashboard, all information is taken from Table core.fact_transactions table of gnosis schema.
What Is Gnosis (GNO)?
Gnosis is an open-source, decentralized prediction market built on the Ethereum blockchain. Users are able to create markets where they can speculate on any event or arbitrary outcome.
By using the Ethereum Protocol, Gnosis is able to guarantee a secure and transparent ecosystem. The Gnosis protocol aims to shift the paradigm by providing the world’s most efficient forecasting tool and setting a global standard for prediction markets.
In this dashboard, we have tried to provide the following topics:
- Number of transactions
- Number of unique users
- Number of new users
- Amount of fee
- Volume of transactions
- Transactions success rate
- Top 10 contracts with the most interaction by new users
- Top 10 wallets that made the most number of transactions
- Top 10 transactions with the most repetitions
This chart show which contracts these new users, who have just entered the ecosystem, most interacted with?
Based on my analysis, 0x37efe9b31830653039edc3b212a6e1b882cd46b4 interact in more than 54K transactions that made by new users since Sep so far.
The next strange contract is 0xfabee463f31e39ec8952bbfb4490c41103bf573e. This one interact in more than 40K transactions that made by new users.
The third one is 0xd222bfb2b86707ff6d537090f439225dedc4af45. More than 35K out of new users send their transactions to this contract.
The fourth is 0x5b4293b4c0f36cb5d4448950830bc777759b6c4f with more than 27K interaction by new users.
The rest can be ignored compared to these 4 contracts.
Number of transactions:
Below chart shows the number of successful transactions per day on gnosis chain.
As you can see, ~3,2M tx made on gnosis chain since Sep 2022. On average ~70K tx made on this chain per day.
There is a spike on Oct 4th. the number of transaction on this date reached to over 160K. Seems an unexpected activity happened on Oct 4th.
Number of users:
Below chart shows the number of users made successful transactions on gnosis chain.
As you can see, over 100K unique wallets made successful transactions on gnosis chain since Sep 2022.
There are some spikes in the chart. For example, on Sep 27,28th that the number of unique users reached from 3K to over 10K unique wallets. The biggest spikes happened on Oct 4th. the number of unique users on this date reached to 57K.
Transactions success rate:
Below chart shows the transactions success rate per day on gnosis chain.
It is obvious that the higher the number of transactions the lower the success rate, since the number of transactions is negatively correlated with success.
Also the average success rate on gnosis chain is 85.5 percentage.
Reasons of spikes on daily charts:
As you can see, unexpected activities in the number of transactions and the number of unique and new users were observed on this chain on October 4th. For example, on October 4, more than 50 thousand wallets experienced their first successful transaction in this chain.
In this section, we'll try to explore the reasons for this.
I would like to start by asking which contracts these new users, who have just entered the ecosystem, most interacted with? Next, we need to determine which of these new entrants has generated the most transactions?
This chart show which of new entrants has generated the most transactions?
Based on my analysis:
0x8f68590bc0b6b11865ffc248487bf62b470fe377 made over 35K ransactions.
0x0b8cef00f90553b9535845be6abbe3797582d424 made over 27K transactions.
0x9fd714ab80e5fcf896714195e66a1d2adacd5462 made over 20K transactions.
This chart shows us top 10 transactions with the most repetitions.
An interesting thing here is all transactions by 0x8f68590bc0b6b11865ffc248487bf62b470fe377 (35K) was sent to 0xd222bfb2b86707ff6d537090f439225dedc4af45 and Also this contract has not been called by other users. so I want to say seems that this user is suspicious.
Exactly the same scenario can be expressed for 0x0b8cef00f90553b9535845be6abbe3797582d424 and 0x5b4293b4c0f36cb5d4448950830bc777759b6c4f .
Half of transactions sent to 0xfabee463f31e39ec8952bbfb4490c41103bf573e made by 0x9fd714ab80e5fcf896714195e66a1d2adacd5462 and 12K made by 0x68655752b2a9ed5d100d02c9a1a7afa6195a8ecd. Rest of transactions made by different users.
Conclusion:
- ~3,2M transactions made on gnosis chain since Sep 2022. On average ~70K tx made on this chain per day. There is a spike on Oct 4th and cause the number of transaction reached to over 160K. Also, on Tuesday at 22:00 made the most number of transactions.
- ~105K unique wallets made successful transactions on gnosis chain since Sep 2022. There are some spikes on Sep 27,28th that the number of unique users reached from 3K to over 10K unique wallets. The biggest one happened on Oct 4th that cause the number of unique users reached to 57K.
- Out of 105K unique wallets that made transactions since Sep 2022, 80K are new (76%).
- ~0.000935 xdai spent per transaction on gnosis chain. Also, on October 4, when the number of transactions was unusually high, the average transaction fee did not increase. Also seems on Thursday at 00:00 AM had the highest transaction fee.
- It is obvious that the higher the number of transactions the lower the success rate, since the number of transactions is negatively correlated with success. Also, the success rate on Monday, Tuesday, Saturday, and Sunday are higher than other days.
- Some unusual activities by new users cause this increasing. For example 0x8f68590bc0b6b11865ffc248487bf62b470fe377 sent 35K transactions to 0xd222bfb2b86707ff6d537090f439225dedc4af45 since Sep 2022. Also 0x37efe9b31830653039edc3b212a6e1b882cd46b4 has been sybil attacking.
Below chart shows us which time of day and day of the week does Genesis Chain see the most transactions?
Thus, I calculated the average of the number of transactions per hour and per day. For example, if the number of transactions on Monday 00:00 AM were 2000, 2500, 3000, and 3500 (in different date), we consider 2750 as average.
As you can see, at 22:00 o’clock made the most number of transactions in gnosis chain. Also, seems on Tuesday at 22:00 made the most number of transactions.
The number of transactions after 07:00 AM is more than before that.
The number of transactions during the week is more than weekend.
Below chart shows the number of new users made successful transactions per day on gnosis chain.
As you can see, ~80K unique wallets made their first successful transaction on gnosis chain since Sep 2022. That means, on average ~1700 unique wallets per day.
The spikes are same as unique users chart.
An interesting thing is out of 105K unique wallets that made transactions since Sep 2022, 80K are new (76%).
Below chart shows the average amount of fee spent on successfull transactions on gnosis chain.
As you can see, ~0.000935 xdai spent per transaction on gnosis chain. Also, on October 4, when the number of transactions was unusually high, the average transaction fee did not increase.
Below chart shows us Which time of day and day of the week had the highest transaction fee?
Thus, I calculated the average of transaction fee per hour and per day.
As you can see, at 00:00 AM had the highest transaction fee in gnosis chain. Also, seems on Thursday at 00:00 AM had the highest transaction fee.
Below chart shows the average volume of successful transactions on gnosis chain.
As you can see, on average the volume of transactions is 30 xdai.
Below chart shows us Which time of day and day of the week had the highest transaction success rate?
Thus, I calculated the average of transaction success rate per hour and per day.
As you can see, the success rate on Monday, Tuesday, Saturday, and Sunday are higher than other days.
An other interesting thing is 0x37efe9b31830653039edc3b212a6e1b882cd46b4 was between contracts that new users had the most interaction with that but wasn’t between the most repetition transactions. So I want to say seems this contract has been sybil attacking.