2023-05-30 02:50 PM
Avalanche is an open-source platform for building decentralized applications (Dapps) with near-instant transaction finality, designed to accommodate the scale of global finance. The platform empowers developers to join a rich ecosystem of blockchains known as Subnets that can be permissioned or permission-less, enabling arbitrary levels of customization for any use-case. Dapps run on Virtual Machines (VMs) that are supported in multiple languages giving developers flexibility in their implementation. Avalanche employs a novel consensus algorithm using proof-of-stake, which offers strong safety guarantees, quick finality times, and high throughput while being energy-efficient and sustainable compared to proof-of-work blockchains.
Definitions:
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User Activity: The level of user engagement and participation within the Avalanche blockchain ecosystem, including actions like transactions, interactions with smart contracts, and on-chain activities.
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Transaction Volume: The total number of transactions occurring within a specific time period, indicating the level of economic activity and the number of transfers or operations on the Avalanche blockchain.
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Sectors: Different industries or areas within the Avalanche blockchain ecosystem, such as DeFi, NFTs, gaming, DEXs, lending and borrowing protocols, each comprising projects and protocols operating within that industry.
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Projects/Protocols: Applications or platforms built on Avalanche, including dApps, smart contracts, or software solutions that offer various functionalities like lending, trading, staking, or gaming, contributing to the growth of the blockchain ecosystem.
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Engagement: The level of user involvement and interaction with a specific sector, project, or protocol, measured through metrics like transactions per wallet, active user participation, or frequency of interactions.
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Retention Rate: The percentage of users or customers who continue using a sector, project, or protocol over a specific time period, indicating user loyalty and satisfaction, and reflecting the ability to retain the user base.
This dashboard aims to analyze the Avalanche Labels data to identify the sectors of the chain that exhibit the highest growth in user activity, transaction volume, and users retention over time. To accomplish this, we have followed the following procedure:
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We utilized the
avalanche.core.ez_decoded_event_logs
table to extract relevant information such as contract addresses, transactions, and user addresses. This data was combined with theavalanche.core.dim_labels
table to associate contract names and sectors. -
By examining the data, we created a separate tab for each sector to highlight its growth. Within each tab, we listed the projects and protocols that contribute the most to the sector's growth.
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Additionally, we investigated the level of engagement and loyalty among users by comparing the number of transactions per wallet across different sectors and projects/protocols. This comparison allowed us to identify sectors and projects/protocols with the most actively involved users.
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To measure user retention rates over time, we analyzed the data for each sector and project/protocol. This analysis provided insights into the long-term sustainability and attractiveness of various sectors and projects/protocols.
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To customize the view of the data, you can modify the
time_interval
option from 'week' to 'day' or 'month' within the dashboard. This adjustment enables the examination of data at different intervals, offering a more comprehensive understanding of the trends and patterns present.
By following this methodology, we aim to provide a fluent and readable dashboard that effectively captures the growth, user engagement, and retention dynamics within the Avalanche blockchain ecosystem.