What is Osmosis?

> Osmosis is a sovereign DEX-focused app-chain in the Cosmos ecosystem, meaning it serves simultaneously as a blockchain and an application. The application operates similarly to other AMM functioning DEXs — that is to say, liquidity providers (LPs) are responsible for supplying liquidity to asset pair pools where traders can make trades from. It’s the same model for Uniswap or Balancer, though more similar to the latter as Osmosis places a high priority on offering asset pool customization. Tweaks to market-maker functions, swap costs, token weighting, and more, are all parameters that can be changed.[1]

> The crypto world has been shaken by FTX's bankruptcy and as it watched one of the largest exchanges crumble in about a week. FTX and its former CEO, Sam Bankman-Fried, are being investigated in the U.S. and abroad for possible securities violations. [2]

2.Tasks

This week has highlighted the need for transparency & decentralization in crypto markets. Let's see how users have reacted to this wild week in Web3.

• Have behaviors changed? Analyze growth in Osmosis Volumes & User Count this week.
• Has more money flowed into Osmosis this week compared to the past few weeks/months? Where is this money coming from? Centralized Exchanges?
• Have wallets moved more into stables?

3. Methodology

All the charts provided here were created with the Flipside Crypto data using the following tables:

• osmosis.core.fact_swaps
• osmosis.core.fact_liquidity_provider_actions
• osmosis.core.fact_staking
• osmosis.core.fact_transfers

The osmosis wallet addresses provided below belong to Binance exchange which was used to assess the inflow into osmosis from centralized exchanges:

• osmo1krmqr8zhvteevq4hnl7q0pxtff6xpnqz4ckxcu
• osmo129uhlqcsvmehxgzcsdxksnsyz94dvea907e575

Credit: The Binance wallet addresses on Osmosis were found with the help of a flipside user Alik_110 | Ali3N#8546 () [3]

4. Overview

Here in this dashboard we will take a look at the following parameters:

• Weekly number of users (by action type)
• Weekly share of users by action type
• Weekly TX counts by action type
• Weekly share of TX counts by action type
• Weekly staking amount by action type
• Weekly share of staking amount by action type
• Weekly staking TX count (by action type)
• Weekly share of staking TX count (by action type)
• Weekly IBC transfer into Osmosis by origin chain
• Binance OSMO inflows & outflows ($OSMO amount)
• Binance OSMO inflows & outflows (TX count)
• Weekly amount of swaps to stablecoins (SD)
• Weekly number of swaps and unique swappers to stablecoins

Analyze growth in Osmosis Volumes & User Count this week.

Has more money flowed into Osmosis this week compared to the past few weeks/months? Where is this money coming from? Centralized Exchanges?

Have wallets moved more into stables?

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5. Results and Discussions

References

[Cover image] [1] [2] [3]

Feedback or Question?

Twitter: @majiiidh

Discord: majiiid#9562

A deeper look at the Staking transactions on Osmosis

Insights

Credit: The charts entitled as “IBC Transfers To Osmosis By Origin Networks” were generated with the help of the SQL query written by @pinehearst_ | pinehearst#1947 ()

The number of IBC transfers into Osmosis was higher than 8 weeks out of the 13 weeks during the past three months. Its value decreased in the last week compared to its previous week, but this decrease was not with an amplitude higher than other descending weeks to be considered as a consequence of the FTX crash, necessarily.

The Teritori and Rebus chain are finding their way into the Osmosis through IBC transfers after their airdrop to the eligible users took place. The tempting APR of the Osmosis pools for newly released tokens in addition to its swap features to convert them into stablecoins, encourages users to transfer their newly arrived tokens into osmosis.

In order to check if the inflows to osmosis originated from centralized exchanges, the inflows and outflows of the Binance OSMO wallet were examined during the past weeks. It is worth mentioning that OSMO was listed in Binance on October 28, 2022.

The total value of the inflow and outflow of Binance shows a decrease in the last two weeks, Although the number of TX counts is not correlated with the OSMO amount.

The amount of Binance ouflow into Osmosis is not more than 3141 which is not on par with IBC transfers which is around 20K for EVMOS (the highest value) and around 10K for Teritori (the lowest value).

Insights

Despite the atmosphere of fear and panic selling in the whole crypto market due to the failure of FTX, the weekly charts show a spike in the number of delegation actions. Still, as we can see from the staking amount chart, the total amount of delegating OSMO has decreased a lot ( more than 50%) in comparison with the previous week.

The highest staking amount occurred in the week starting on Oct 24, 2022, with more than 63% of undelegation. this could be due to the bitcoin price drop below 20K and panic selling in the crypto space.

The undelegation has increased in the last week but it was not that much to be considered as the consequence of the FTX crash.

The increase in the number of staking actions could be due to the advantages of staking OSMO which makes the stakers eligible for lots of Airdrops of Cosmos chain, so they are taking this opportunity to buy the dips and stake for taking part in governance voting and getting ready for future airdrops on Cosmos Blockchain for OSMO stakers!

Insights

The number of unique users in the last week is lower than its two previous weeks, but still not the lowest value during the past 4 months.

The number of TX counts has recorded an All-Time-High (ATH) during the last week in the 3 months period.

The number of users dealing with governance vote actions has decreased to half during the last week in comparison with the previous week.

The most notable change in users’ behavior is related to staking action which shows an increase of over 400% in comparison with other weeks during the last three months.

In the next part, we will take a deeper look at the staking actions to see if the mentioned increase is because they are delegating their OSMO assets to validators or if it is due to undelegating action!

Insights

The weekly number of swaps to stablecoins as well as its weekly amount have made an All-Time-high record in the last week through the past three months period.

The swaps are mostly (more than 90%) to Axelar USDC, while Axelar Dai has the second rank with up to 10% of the total swaps to stablecoins.

The number of swappers to stablecoins has decreased during the last week despite the FTX crash which shows the increase in the swap counts and swap amounts is not widespread among most users.