✨Introduction

By 2022's December 19th, NEAR had become the first non-EVM chain to support MetaMask, the most widely used ETH wallet.

NEAR is a blockchain platform that is not EVM (Ethereum Virtual Machine) compatible, meaning that it cannot directly interact with Ethereum-based applications or wallets such as MetaMask. NETH is a smart contract developed by Proximity Labs that enables users to remotely control a NEAR account using their Ethereum wallet, such as MetaMask, to directly interact with NEAR-based dApps. Essentially, NETH bridges the gap between the Ethereum ecosystem and the NEAR ecosystem by allowing MetaMask users to access NEAR-based dApps using their existing Ethereum wallets, and now we can observe how NETH is used and how it affects the NEAR ecosystem.

In order to identify out-of-the-ordinary trends or occurrences, we will be mining the blockchain for data via this interface. Everyone who has even a passing interest in the NETH and NEAR ecosystems will find this data useful.

🛠️ Methodology

The goal of the current dashboard is to monitor the adoption and usage of NETH since December 19, 2022. To achieve this objective, the following methodology was employed:

1. All wallet addresses that have interacted with 'nethmap.near' in the transactions table were identified.
2. The NEAR balance of each wallet address was calculated to gain a better understanding of user activity.
3. The age of each wallet was calculated by determining the time difference between the first and last transactions.
4. The timezones of users were identified by using the timezones query available in this dashboard.

By implementing these steps, the dashboard provides an overview of NETH adoption and usage, including user activity, wallet age, and user location.

🌡️ Analysis

✍🏻 Conclusion

Based on the above findings, we can understand that NETH's adoption and usage are still relatively low, with only a small number of wallets having interacted with it. The majority of these interactions were for unknown activities, followed by swapping and adding liquidity.

Additionally, the wallets that have interacted with NETH are regular users and not whales, with less than 10 wallets having over 1 NEAR.

We also see that NETH users are distributed globally, with a range of timezones represented.

Finally, there were no significant changes observed in the NEAR ecosystem on the NETH announcement date, although there was a spike in transactions and unique user count 20 days later on Jan 10th.

Hey there 👋!

Firstly, I appreciate you sticking with it until the conclusion.

I'm Hamed, a civil engineering Ph.D.

student interested in data analysis.

I've made many similar dashboards and visualizations since I started at Flipside in January.

Please take a look at my various contact details and let me know what you think.

About:

• Author: HaM☰d

• Discord: 0xHaM☰d#8391

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• Email: h_arjmandi2012@yahoo.com

🔥 Where NETH’s Users Come From?

It is important to note that the user count displayed on the dashboard may appear low, as we are only considering users who have made interactions with NETH since Dec 19th.

According to the chart left upon analyzing the data, we observed that NETH citizens are mainly located in the Eastern Time, Central Asia, and Micronesia regions.

Furthermore, we found that NETH users are distributed across a wide range of timezones, ranging from -12 UTC to +12 UTC. This suggests that NETH has a global user base, with users located in various parts of the world.

⏳ NETH’s Impacts on the NEAR Ecosystem

The following revised statement provides clearer and more grammatically correct language:

The charts below display the impact of NETH's announcement on the NEAR ecosystem. The visuals indicate that there was no significant change in daily transactions and unique user count on the announcement date. However, there was a spike in these metrics 20 days later on January 10th, and it cannot be conclusively stated that this was solely due to the announcement of NETH.

⏳ NETH’s Interacted Wallets

🔎 Findings:th

The table above displays the NEAR and EVM wallet addresses that have interacted with NETH, organized by their wallet age and balance. Meanwhile, the chart above shows the daily count of wallets that had their first transactions on NETH since December 19th.

It is apparent that only a small number of wallets have had over 1 NEAR, with four of them having less than 4 NEAR and two of them having around 20 tokens, while the remaining two have less than 25 and 50 NEAR and all other 54 wallets have less than 1 NEAR and zero. This suggests that all wallets that have interacted with NETH are regular users and not a whale.

Furthermore, the charts indicate that only 65 unique addresses have interacted with NETH, with 12 of them created on December 19th. On most other days, only one wallet has interacted with NETH.

⏳ The following charts display the types of actions performed by NETH users on the NEAR ecosystem.

Based on the data, it appears that the majority of NETH users were primarily engaged in swapping activities, followed by adding liquidity. However, it is worth noting that a significant portion of their interactions were classified as "unknown activities."

In total, the 65 NETH interacted addresses have completed 916 transactions related to unknown activities, 65 transactions related to swapping, and 56 transactions related to adding liquidity.