Flow Chain

Flow is a decentralized, fast, and developer-friendly blockchain designed to accelerate the growth of a new class of apps, games, and digital collectibles. Each platform feature was plotted from the ground up to provide exceptional experiences at the mainstream level. Initially developed by Dapper Labs, Flow is backed and built by a vibrant community of brands and developers.

The Flow blockchain leverages a PoS mechanism and a multi-node architecture to obtain consensus. The PoS mechanism allows FLOW holders to stake their tokens and generate passive income by running validator nodes or delegating their tokens to a recognized node.

Stakers secure the blockchain by staking, or delegating tokens to validators, who participate in consensus and validate transactions. Rewards are earned for performing network operations and staked funds may be slashed for unavailability or malicious behavior.

A blockchain bridge, otherwise known as a cross-chain bridge, connects two blockchains and allows users to send cryptocurrency from one chain to the other. Basically, if you have FUSD but want to spend it like Ethereum, you can do that through the bridge. we will look at two bridges, Blocto and cBridge

Scopes

1. NFTs Sales
2. Assets Transferring in Flow Network
3. Staking Activity Overtime
4. Bridging Assets to/from Flow Blockchain
5. Swapping Activity

Method

• I used the specific flipside flow tables to extract each section's data. for example staking data: flow.core.ez_staking_actions table.

• some amount in nft sales are in flow so I used flow.core.fact_prices to find the USD price.

• action names in the staking table:

  1. stake: DelegatorTokensCommitted, TokensCommitted
  2. unStake: DelegatorUnstakedTokensWithdrawn, UnstakedTokensWithdrawn
  3. Claim Rewards: DelegatorRewardTokensWithdrawn, RewardTokensWithdrawn

• Bridge inbound/outbound: in the bridge table, there is a direction column. direction inbound means the bridge inflowed into Flow chain from other chains, and outbound means outflow from the Flow chain to other chains.

• according to coinmarketcap website, the $FLOW Circulating Supply is 1,036,200,000

• Transferring in Flow Network: means only transfer between flow network wallet not outside of flow chain.

NFTs

Staking

Swapping

Transferring in FLOW Blockchain

Bridging

🟠 Observations

• The $FLOW token had the highest price and its ATH is $38 in April 2021, as of today it’s $1.2
• due to the bitcoin and market crash, all tokens are more than 10X lower than their ATH

🟠 Observations

• the NFT sale activity started to decrease from Feb 2022, and in Feb the weekly sale volume peaked at $24.4M, the weekly sale count peaked at 712.83K, and about 60K-80K weekly buyers/sellers

• the most expensive Collection (weekly average sale price) was Matrix World Voucher, the price peaked at $10.9K in Feb 2022, but it dropped significantly

• currently, the most expensive Collections are MotoGPPack and MotoGPCard with $610 and $388 average price

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🟠 Observations

• In some weeks the transferring activity is not normal, it seems like distributing. for example in the second week of Nov there are 1.66M sender users and only 9.7K receivers

🟠 Observations

• the staking volume size shows that 81.4 percent of stake transactions are less than 10 $FLOW and 9.63 percent are between 10 and 100 $FLOW
• 37.8 percent of unStake transactions are between 100 and 1K $FLOW also 24.4 percent are less than 10 $FLOW
• also, a big proportion of Claim Reward Transactions are less than 10 $FLOW (67.7 percent), and 26.2 percent are between 10 and 100 $FLOW
• Result:
  • the staking transaction count is much higher than the other two actions, but a big proportion of them have so small size (under 10 $FLOW)
  • the Claim Rewards has a higher transactions count than unStraking and about 75-80 percent of transactions are under 10 $FLOW
  • the unStaking has a lower transaction count than others but a big part of transactions are higher than 10 $FLOW (10-100 $FLOW) and the sizes are higher than Claim Reward
• 61.8 percent of stakers, only staked once. and 21.8 percent staked more than 10 times.
• 44.7 percent of unStakers, unstake once and 41.7 percent unstaked between 2 and 5 times
• 32.6 percent claimed rewards only once, 32.7 percent claimed 2 - 5 times, and 26 percent claimed their stake rewards more than 10 times

🟠 Observations

• since the last few months, the number of outbound bridge transactions went much higher than inbound transactions.
• in the last weeks, the average number of users that bridge into Flow (30-50) is much lower than outbound users(100-130).
• USDT is the most popular token to bridge. as of today, USDT from Ethereum to Flow with 10.28K bridge transactions and $69.12M and USDT to Ethereum from Flow with 6.6K bridges and $66.15M are the top bridged asset/routes.
• Ethereum with a 10.95K inbound bridge (to flow chain) and 10K outbound bridge (from Flow) is the top chain used by users to bridge.

💡 Conclusion

• Price:

  • due to the bitcoin and market crash, all tokens are more than 10X lower than their ATH

• NFT:

  • the NFT sale activity started to decrease from Feb 2022, and in Feb the weekly sale volume peaked at $24.4M, the weekly sale count peaked at 712.83K, and about 60K-80K weekly buyers/sellers
  • currently, the most expensive Collections are MotoGPPack and MotoGPCard with $610 and $388 average price

• Staking:

  • the staking volume size shows that 81.4 percent of stake transactions are less than 10 $FLOW and 9.63 percent are between 10 and 100 $FLOW
  • the currently staked size distribution chart shows that 46 percent of stakers have staked less than 10 $FLOW, so a big proportion of stakers are fishes. 7.62 percent of stakers have staked more than 10K $FLOW
  • 61.8 percent of stakers, only staked once. and 21.8 percent staked more than 10 times. 44.7 percent of unStakers, unstake once and 41.7 percent unstaked between 2 and 5 times

• Bridge:

  • since the last few months, the number of outbound bridge transactions went much higher than inbound transactions.
  • in the last weeks, the average number of users that bridge into Flow (30-50) is much lower than outbound users(100-130).
  • USDT is the most popular token to bridge. as of today, USDT from Ethereum to Flow with 10.28K bridge transactions and $69.12M and USDT to Ethereum from Flow with 6.6K bridges and $66.15M are the top bridged asset/routes.
  • Ethereum with a 10.95K inbound bridge (to flow chain) and 10K outbound bridge (from Flow) is the top chain used by users to bridge.

• Swapping:

  • the number of swaps and swap volume was decreasing since Feb 2022, but the number of users didn't decrease much.

  • as of today, FLOW/USDT with $318.1M volume, 405.5K swap count and FUSD/USDT with a $275M volume and 432.19K swap count are the top Swapping pairs.

🟠 Observations

• number of swaps and swap volume was decreasing since Feb 2022, but the number of users didn't decrease much.
• USDT with 771.7K swaps and $644.3M swap volume is the most popular swapping asset.
• since Nov 2021, the number swapping two stablecoins (USDT<=>FUSD) increased with a heavy trend.
• as of today, FLOW/USDT with $318.1M volume, 405.5K swap count and FUSD/USDT with $275M volume and 432.19K swap count are the top Swapping pairs.

Top Collections: