New Year, New LUNA?

    Create a dashboard documenting significant trends in transactions, wallets, supply, staking, development, or other aspects of the Terra ecosystem. Note any changes in metrics such as the average and total transactions per week and the fees associated with them, the total and average number of new wallets created each week, the total and average number of contracts deployed, LUNA staked, and anything else you find interesting.

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    In this section, we aim to examine how transactions have changed before and after the new year by using various charts such as averages, cumulative, and daily.

    • The daily chart reveals that the highest number of transactions per day occurred in the week before Christmas, specifically on December 22nd, with 10.65k transactions.
    • The trend in the chart before Christmas was fluctuating and after Christmas, it had an upward trend, and then a downward trend after the New Year.
    • Overall, most transactions were made during the week after Christmas, with a total of 61.97k txs, which is 35.2% of the total.
    • The week after the New Year came in second place with 32.8% of the total, and the week before Christmas was in third place with 32%.
    • The average daily transactions before 2023 were 11.56k txs, and after that 8.61k txs.
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    This section of the dashboard is focused on analyzing changes in active users.

    • Similar to the previous section, the charts here also reflect similar trends.
    • The highest number of active users was recorded during the week before Christmas, specifically on December 22nd.
    • The week after Christmas has the highest number of active users, with a total of 61.96k active users, representing 35.2% of the total.
    • The week after New Year and the week before Christmas comes in second and third place, respectively, in terms of active users.
    • Overall, the average number of active users per day before the year 2023 was 8.45 thousand, and after 2023, the average number of active users per day was 8.25 thousand.

    1.3) Active Users (Wallets)

    1.1) Transactions

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    1.4) New Users (Wallets)

    This section of the dashboard aims to analyze the changes in new users by using two daily and total charts.

    • The daily chart shows that the number of new users generally increased and then decreased.
    • The highest number of new users was recorded during the week after Christmas. The largest decrease in new users occurred on the last day of the week before Christmas.
    • Overall, the week after Christmas had the highest number of new users, with a total of 1015 new users, representing 37.6% of the total.
    • The week before Christmas and the first week of the new year came in second and third place, respectively, with 32.1% and 30.3% of the total.
    • In general, the average number of new wallets after the new year has seen an increase when compared to the previous year. Specifically, before 2023, the average number of new wallets created per day was 116.9, and after the new year, this number increased to 487 wallets per day.
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    1.5) Stake Transactions

    1.6) Stake Volume (LUNA)

    1.7) Stakers (Users)

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    • The stake transactions section of the dashboard, presents a daily chart which generally has a steady trend with a slight upward slope.
    • The highest number of stake transactions, with a total of 3,747 txs, which is 35.1%, was in the week after the new year.
    • The week after Christmas, with a slight difference, was in second place with 34.3%, and the week before Christmas with 30.5% is in the last place.
    • In general, the average number of staked transactions in the new year was 629 txs per day, which is higher than the average of the previous year, which was 597 txs per day.

    In this section, the dashboard aims to evaluate the stake volume metric by using two charts.

    • The chart depicts that in the last two weeks of 2022, the trend was almost constant until the last two days when it experienced a large peak.
    • After that, in the first week of the new year, there was a steady downward trend until January 6th, which recorded the highest peak with 2.6 million Luna per day.
    • The Total Stake Volume chart shows that the week after Christmas has the highest number with a total of 3.765 million Luna, representing 46.5% of the total, and the week after the New Year comes in second place with a slight difference of 43.5%.
    • The week before Christmas is in last place with only 10% of the total. The average stake volume before 2023 was 266k Luna per day and after 2023, it was 191.4k Luna per day.
    • The stakers (users) section of the dashboard presents a daily chart which depicts a steady upward trend and as we move towards the new year, the number of users increases.
    • In general, the number of users who made stake after the new year, with a total of 4004 numbers, which is 37% of the total, is in the first place.
    • The week after Christmas comes in second place with 33.5%, and the week before Christmas is in last place with 29.6% of the total.
    • The average number of users before 2023 was 634 users per day, which decreased to 579 users after 2023.
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    What is Terra?

    Terra is a blockchain ecosystem that aims to create a stable and scalable platform for decentralized applications and decentralized finance (DeFi) use cases. The ecosystem is built on the Terra Station blockchain, which is a high-performance blockchain that uses a proof-of-stake consensus algorithm.

    1.8) Contracts deployed

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    Methodology

    This dashboard is designed to evaluate the performance of Terra's ecosystem over three distinct time periods. The intervals chosen are one week, with the first period being one week prior to Christmas 2022, the second period covering the week between Christmas and the end of 2022, and the third period being the first week of 2023. We will look at several key metrics including transactions, active users, new users entering the ecosystem, stakes, and smart contracts deployed. Each metric will be presented in daily, cumulative, and total charts, as well as averages for before and after the new year.

    Also, the dashboard includes the second part, which is supposed to compare the first week of 2022 with the first week of 2023 for the metrics mentioned above and see how much the popularity of the Terra ecosystem has decreased.

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    1.2) Transaction Fees (LUNA)

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    • The daily transaction fees chart in this section shows that the chart had a steady upward trend and the highest fee was on December 22 with 187.84 Luna per day.
    • In general, the total transaction fees after the new year are in the first place with 34.3% of the total, and the week after Christmas and before Christmas with 34% and 31.7%, are in the second and third place, respectively.
    • The average transaction fee before the new year was 663 Lunas, which has decreased compared to the new year, which is 142.5 Lunas.

    The daily new contracts chart in this section shows that the number of contracts increased after the new year. In general, the number of contracts deployed in the new year was 28, representing 70% of the total, while the number of contracts deployed in the previous year was 12, representing 30% of the total.

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    2) Compare 2022 vs. 2023 in the same period (first week of the year)

    In mid-May 2022, the UST stablecoin collapsed, leading to a decline in the Terra ecosystem. This resulted in a significant loss of funds for many users, causing a decrease in popularity and usage of the Terra blockchain. This section of the dashboard will compare the various metrics we reviewed above for the end of 2022 and the beginning of 2023, specifically focusing on the first week of 2022 and the first week of 2023 to observe the decrease in popularity of the ecosystem.

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    2.1) Transactions

    2.2) Active Users

    2.3) New Users

    2.4) Stake Transactions

    2.5) Stake Volume (LUNA)

    2.6) Users who stake

    Section 1 Summarize

    • Transactions
      • Total: After Christmas > After new year > Before Christmas
      • Average: before 2023 > after 2023
    • Transaction fees
      • Total: After new year > After Christmas > Before Christmas
      • Average: before 2023 > after 2023
    • Active users
      • Total: After Christmas > After new year > Before Christmas
      • Average: before 2023 > after 2023
    • New users (wallets)
      • Total: After Christmas > Before Christmas > After new year
      • Average: after 2023 > before 2023
    • Stake transactions
      • Total: After new year > 2)after Christmas > Before Christmas
      • Average: after 2023 >before 2023
    • Stake volume (LUNA)
      • Total: After Christmas > After new year > Before Christmas
      • Average: before 2023 > after 2023
    • Stakers
      • Total: After new year > After Christmas > Before Christmas
      • Average: before 2023 > after 2023
    • Contracts deployed
      • Total: after new year > after Christmas

    Section 2 Description

    • The charts for transactions, active users, new users, stake transactions, and staking users all show a significant difference between the values in 2022 and 2023, reflecting the decrease in popularity of the Terra ecosystem. For instance, in the charts of transactions and active users, the values in 2022 exceeded 500,000 per day and had an upward trend during the week, while in 2023, they decreased to around 9,000 transactions and active users per day. Similarly, in the chart of new users, the peak in 2022 on January 3 was 4248 new users, while in 2023, the number decreased to 141. These figures demonstrate the decline in popularity of the Terra ecosystem.

    • The stake transactions and staking users charts also show a decrease in values in 2023 compared to 2022, but not as drastic as the previous charts. Both charts in 2022 have an upward trend, while in 2023, the trend is downward. This indicates that the decline in popularity of the Terra ecosystem is visible across various metrics, but the difference is not as pronounced in these charts.

    • The stake volume chart is the only chart that does not align with the trend of the previous charts, it shows an increase in the peak of 2023 compared to 2022. The highest peak of the 2023 chart on January 6th is 2.66 million Luna per day, while the highest peak of the 2022 chart on January 1st is 2.14 million Luna per day. This suggests that while the popularity of the Terra ecosystem has decreased in other metrics, the stake volume has remained relatively steady or even increased. This can be an indication of the interest in the ecosystem despite the decrease in popularity.

    Conclusion

    1. The Terra ecosystem has seen a decrease in popularity in 2022 and 2023, as reflected in the charts for transactions, active users, new users, stake transactions, and staking users. Both metrics Active users and new users (wallets) have a similar trend in terms of total values, with the highest values in the week after Christmas, but active users decrease and new users increase after 2023.
    2. There is a relationship between the number of transactions and the transaction fees in the Terra ecosystem, as an increase in one metric usually corresponds to an increase in the other.
    3. Both metrics Stake transactions and Stakers have a similar trend in terms of total values, with the highest values in the week after New Year, and an upward trend after 2023, indicating more people are participating in staking.
    4. Both metrics Stake volume and Stakers have an inverse relationship, the total stake volume is highest in the week after Christmas, while the average stake volume per day is highest before 2023, indicating that although more people are participating in staking, the total amount of staked assets may have decreased after 2023.
    5. Both metrics Contact deployed and Transactions have an inverse relationship, the total contact deployed is highest in the week after the new year, while the Transactions are highest in the week after Christmas, suggesting that as more new contracts are deployed, there may be fewer transactions taking place on the platform.
    6. The stake volume chart is an exception, it shows an increase in the peak of 2023 compared to 2022, which suggests that while the popularity of the Terra ecosystem has decreased in other metrics, the stake volume has remained relatively steady or even increased. This can be an indication of the interest in the ecosystem despite the decrease in popularity.