HODLers vs LPers vs Stakers

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    Introduction

    This analytics is done to study OSMO holders activity on Osmosis.

    Scope

    An OSMO holder is defined as address that has had made swap transactions on OSMOSIS. Since swap requires OSMO to pay gas fee, they need to have OSMO in their wallet, so these accounts can be considered as active OSMO holders. This means wallets that held OSMO and has never made any swap transaction are not considered.

    Part 1: What does OSMO holders looks like?

    It is found that 68% of total OSMO holders has had provided liquidity on Osmosis AND staked their OSMO. Only 32% of OSMO holders has had staked their OSMO exclusively. None of the OSMO holders provided Liquidity exclusively without participating in OSMO staking.

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    Part 2: OSMO Holders activity in Liquidity Pools

    The monthly trend indicates that more Liquidity Providers are withdrawing their OSMO from liquidity pools than adding OSMO into liquidity pools. This shows that there is decline in Unique Liquidity Providers, at least amongst that uses OSMO in their liquidity pool.

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    Part 3 : OSMO holders activity in OSMO Staking (OSMO Delegations to Validators)

    The Monthly Staking indicates there are increasing number of stakers per month, up to March . But there are more zero-staking balance address. This means, the stakers has withdrawn their OSMO from delegations. More users has staked, then removed their staking position in each month, up to March 2022.

    Beginning Apr 2022, there is shift , where there are more positive balance stakers than zero-balance stakers. While the number of unique stakers per month decreases, since April, but more users are participating in Staking, then removing their staking position.

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    Part 4 : Which Position is User Committing more OSMO currently

    Based on the Pie chart on the right, it is found that , currently, most users has no OSMO position in either Liquidity pools nor Staking. These group comes from address that has had provided liquidity in the past.

    Next, the 2nd largest group are those who are currently have more OSMO in Liquidity Pools than Staking. They account for 10% of the total OSMO HODLers. There are only 7 address that has more staked OSMO than in Liquidity Pools. At least according to this analytics “OSMO HODLers” definition (See Scope in the Introduction).

    From this, it seems to indicate, most users that has had provided liquidity or staked, has withdrawn their OSMO from both position. The remaining group that still has position are mostly putting their OSMO in Liquidity Pools

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    The chart on the right shows the average txn for adding or removing OSMO from liquidity pools. The trend for adding liquidity with OSMO are increasing up to May 23rd, then falls from 13.34 txn/user to 2.29 txn/user.

    This shows that most Liquidity Providers are actively adding OSMO in Liquidity pools, then suddenly halt/tone down their adding txn after May 23rd.

    For withdrawing OSMO from liquidity pools, the average transactions are rather plateaued, but then on July 11th, there seems to be a surge in withdrawing activity.

    While there are less and less unique LP that uses OSMO in their Liquidity Pools, they are increasingly adding adding more OSMO in LP, based on their average transaction.

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    Delegation Trend by Account Type

    The Pie chart on the right shows that Users that stakes and provided Liquidity with their OSMO shows higher average delegation transaction than those who only stakes exclusively.

    The pattern is also the same for undelegation average Transaction.

    This suggests, users that provide liquidity tends to stakes their OSMO more than those who only stakes exclusively

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    Part 5 : What group is receiving the most IBC transfers into Osmosis?

    The bar chart indicates that address that stakes and provide liquidity yields higher average inbound IBC transaction than the address that stakes OSMO exclusively.

    This shows that those who stakes and provide LP tend to move assets from other chain via IBC into Osmosis.

    Conclusion

    From this analytics it is found that :

    • Majority of OSMO HODLers has had provided liquidity AND staking using their OSMO, only a small group has never provided liquidity and stakes exclusively
    • Wallets that stakes and provide liquidity show higher delegation tendency
    • The monthly trend indicates that OSMO more liquidity Providers are withdrawing from pool than adding into pool.
    • While there are lesser LP over time, the average txn of adding OSMO in LP was increasing up to May 23rd, then it plummets.
    • Beginning Apr 4th 2022, there are more users that has non-zero staking balance
    • Currently, most HODLers has withdrawn their LP and Staking position
    • Users that stakes and LP has higher IBC asset input into Osmosis than those who stakes exclusively.