Terradash Part 3: Development

    Construct a dashboard that displays the number of new contracts deployed and the total number of contracts deployed each week over the past several months. Your dashboard should also chart the development of stablecoins, including any supply trends.

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    Methodology:

    In this dashboard I am first going to be looking at contracts deployed on LUNA2 both overtime and overall to see how they have developed and what is currently going on in the landscape. I will also be looking at the most popular contracts and seeing how users have interacted with them and in what frequencies. Next I will move onto the stablecoin landscape and look at axlUSDC and axlUSDT to see how they have been performing on LUNA2 across various areas. I will discuss all these metrics in detail and report any insights I find valuable or useful.

    What is Terra 2.0?

    Terra 2.0 (LUNA) is the newest iteration of cryptocurrency on the Terra blockchain. In May 2022, the Terra blockchain experienced a hard fork prompted by founder Do Kwon and voted on by the community. This created the new Terra 2.0, with a new cryptocurrency, dubbed LUNA or LUNA2, while the original blockchain and coin took on the moniker LUNA Classic, or LUNC. Both blockchains still exist and operate separately, which can cause confusion for new investors.

    For more information click here.

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    New Contract Analysis:

    • On a weekly basis there is anywhere from roughly 10 to over 100 contracts deployed.
    • At the beggining of the timeline we can see many more weeks that had over 50 and sometimes even over 100 contracts deployed
    • If we look at the running total of contracts deployed we can see that it seems to be pretty consistent although it does start to slow down a bit over time.
    • The total amount of contracts that had been deployed is 1258.

    Top Contract Analysis:

    • The majority of the top 25 contracts by interactions have anywhere from 10k to 20k interactions, although the top few ones have seen anywhere from 30k to over 70k interactions.
    • On a daily basis there began to be much more interaction with contracts beggining around September of 2022.
    • Earlier contracts interactions usually stayed below 2k with a few massive spikes to above 10k, while later in the year it stuck around 3k-4k on average with less common massive spikes.
    • The majority of contracts have less than 10 interactions and as you increase the number of interactions the number of contracts that have that many interactions goes down.
    • Only a little over 12% of contracts have over 500 interactions meaning a small amount of the contracts get the majority of the interactions while a large percentage get very few interactions.
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    Stablecoin Transfer Analysis:

    • The daily transfer volume of axlUSDC is significantly higher than that of axlUSDT
    • The transfer volume of both stablecoins remains pretty consistent over time with few major spikes or dips.
    • On a daily basis the majority of transfers of axlusdc and axlusdt are going out.
    • Starting around September of 2022 the trasnfer volume of axlusdc began to pick up while the transfer volume of axlusdt remains somewhat sporadic with large spikes every so often followed by large dips.
    • on a daily basis anywhere from 70-90% of axlusdc transfers are going out
    • on a daily basis the axlusdt transfers can go from anywhere from nearly 100% going out to only 50% going out, regardless the majority tends to be transferred out.
    • Stablecoins seem to remain popular as they are traded back and forth in significant volume each day.
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    LP Analysis:

    • axlusdc pools tend to receive liquidity at somewhat random times with many spikes and dips throughout the graph.
    • a significant amount of volume is allocated to these pools the largest of which appears to be astroport astro-axlusdc pair.
    • axlusdt pools tend to recieve liquidity even less often with few large spikes and the rest of the time having very little to no volume
    • The only axlusdt pool that seems to be significant is astroport axlusdt-axlusdc pair.
    • Overall it seems that axlusdt pools are somewhat inactive with the only one that is active being paired with axlusdc

    Conclusion:

    1. More contracts were being deployed earlier in the year although there are still a significant amount being deployed each and every week
    2. It appears that a few contracts make up the majority of interactions by users.
    3. The majority of contracts have less than 10 interactions, and as the number of interactions increases the number of contracts with that many interactions decrease.
    4. Since around September of 2022 the amount of interactions with contracts seem to have really increased.
    5. Both axlusdc and axlusdt are being transfered in significant volume although axlusdc tends to be a decent amount larger
    6. The majority of transfers for both axlusdc and axlusdt on a daily basis are going out.
    7. axlusdc pools tend to be decently active receiving large amount of liquidity somewhat infrequently, a similar trend appears for axlusdt pools although they receive much less volume than that of axlusdc.
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