What is wAVAX

WAVAX or Wrapped AVAX is an ERC-20 compatible wrapper contract around the AVAX token. On Avalanche's C-Chain, AVAX is treated just like standard ETH is on Ethereum. This means that AVAX lacks the standardized interfaces that make ERC-20 tokens so interchangeable.

What is Osmosis

Osmosis is a multi-chain DEX specifically built to function with other blockchains in the Cosmos ecosystem. Communication with these other blockchains is achieved via its Inter-Blockchain Communication protocol (IBC). Because Osmosis is linked to other Tendermint blockchains, providing smooth, fast trades.

Swap Activity

Top Swappers

Heatmap of wAVAX Swap

wAVAX Liquidity Providing

Top 10 Liquidity Providers

Purposes of dashboard

At the end of January, wrapped AVAX (WAVAX) was listed on Osmosis and seeded with liquidity via Pool 899 (OSMO/WAVAX). In this dashboard, we analyzed WAVAX activity since its first week of trading on Osmosis so far. Then we compared WAVAX trading on Osmosis compare to native swaps on Avalanche.

🔎 Findings

wAVAX ON OSMOSIS

• From January 22nd to 29th, wAVAX trading volume on Osmosis was negligible.
• From January 30 onwards, the sales volume of wAVAX has been higher than its purchase volume on almost all days.
• On January 30, the largest volume of wAVAX trading was recorded on Osmosis. A total of 1,596 wAVAX were traded on this day.
• The largest purchase volume of wAVAX was recorded on February 2. (718.72 wAVAX)
• The highest sales volume of wAVAX is related to February 4 (1,175.76 wAVAX). On this day, there was the biggest difference between the volume of sales and purchases of wAVAX.
• The number of transactions has been on an upward trend until February 2, however, after this date, a downward trend is observed in the number of transactions.
• The highest number of buying and selling transactions is equal to: 266 TXs and 231 TXs respectively.
• The largest number of traders were active on January 31. On this day, a total of 48 traders were buying and selling wAVAX on Osmosis.
• ⭐Contrary to the fact that on most days the number of buyers was more than the number of sellers, but the volume and number of wAVAX sales transactions were more than the purchase transactions.

wAVAX on AVALANCHE

• After the listing of AVAX on Osmosis, there are no significant changes in the trading volume of this currency on the Avalanche chain.
• The maximum trading volume of wAVAX on Avalanche was recorded on January 24. A total of 2075 wAVAX have been traded on this chain this day. (Buy: 1007 wAVAX and sell: 1068 .wAVAX)
• Unlike the Osmosis chain, where the sales volume of wAVAX was higher than the purchase volume on almost all days, the volume of wAVAX purchases was slightly higher than the sales volume on the Avalanche chain.
• The number of wAVAX daily trades and traders on Avalanche is far more than Osmosis chain.

🔎 Findings

wAVAX on OSMOSIS

• On average, the volume and number of wAVAX sales per address reached the highest value on February 4. On this day, the average volume and number of sales of each address were 293 wAVAX and 33 transactions, respectively. Meanwhile, on January 29 and 30, the average number and volume of purchases per address has reached its highest value. (34.5wAVAX per address - 19 purchases per address)
• The average volume and number of wAVAX sales per user has been increasing day by day until February 4. But after this day, there has been a downward trend.
• In general, the average sales volume of wAVAX per user was higher than the average purchase volume.
• The average volume of wAVAX trading has been increasing.

wAVAX on Avalanche

• Since January 29th, the average swap volume per transaction and per address for wAVAX has been on an upward trend.
• Unlike the Osmosis chain, where the average number of swaps per address is high, on the Avalanche chain, each address records a maximum of 2 swaps per day.

🔎 Findings

wAVAX on OSMOSIS

• Since January 22nd, a total of 6,589 wAVAX were sold and 3,494 wAVAX were bought. (65% vs. 35%)
• So far, 70% of traders are buyers and 30% of them are sellers of wAVAX.
• Checking the number of transactions shows that in 53% of the transactions, traders were selling wAVAX and in the rest of the transactions, they were buying this currency.
• The average volume of buying and selling wAVAX on Osmosis chain by each user is equal to: 113.6wAVAX & 24.9wAVAX respectively.
• The average volume of each wAVAX sale transaction on the Osmosis chain is 4.8. This value is equal to 2.9 wAVAX for purchase transactions.
• On average, each user was a seller of wAVAX 23 times and a buyer of this currency only 9 times.

wAVAX on AVALANCHE

• Since January 22nd, a total of 10,791 wAVAX were sold and 10,999 wAVAX were bought. (49.5% vs. 50.5%)
• So far, 53.6% of traders are buyers and 46.4% of them are sellers of wAVAX.
• Checking the number of transactions shows that in 49.6% of the transactions, traders were selling wAVAX and in the rest of the transactions, they were buying this currency.
• The average volume of buying and selling wAVAX on Osmosis chain by each user is equal to: 5.8wAVAX & 6.6wAVAX respectively.
• The average volume of each wAVAX sale transaction on the Osmosis chain is 2.67. This value is equal to 2.69 wAVAX for purchase transactions.
• On average, each user was a seller of wAVAX 2 times and a buyer of this currency 2 times too.

🔎 Findings

• The address 🏆osmo1kjmy7vhzz954rqe293fxgc63ujqyy0nnq7qk6d is the top wAVAX trader on the Osmosis chain. This address has been the best trader in terms of volume and number of purchases and sales of this currency.

• The three addresses that have the highest average sale volume per swap are:

  🥇 osmo1wnnq8zw5s4elhnl6znyza82q73x7w8g30l9vgf

  🥈 osmo190duvhwfgfesfphj04e2e9gw3flzcfwjasv7q4

  🥉 osmo1kjmy7vhzz954rqe293fxgc63ujqyy0nnq7qk6d

• The three addresses that have the highest average purchase volume per swap are:

  🥇 osmo1p9lujm5arq9zdzdzr4ffx5rj77urffu267slwf

  🥈 osmo1s35h4na6rn6c28flur76k92vztvx04ndt45879

  🥉 osmo1wnnq8zw5s4elhnl6znyza82q73x7w8g30l9vgf

🔎 Findings

• The highest number of wAVAX sales transactions on the Osmosis chain are recorded at 5 and 6 p.m. Also, in the hours between 12 and 14, the number of sales transactions is high.

• The highest volume of sales is recorded at 18:00.

• On Wednesdays and Thursdays, the volume and number of sales of wAVAX is high.

• In the hours between 4 and 8 in the morning, the number and volume of wAVAX sales is less than other hours.

• On Sundays, the number and volume of wAVAX sales on the Osmosis chain is lower than other days.

🔎 Findings

• The largest purchase volume of wAVAX on the Osmosis chain is recorded at 12 pm. This is while the highest number of purchase transactions has been recorded at 10 p.m.
• The lowest purchase volume of wAVAX is related to 7:00 am and the lowest number of transactions is related to 5:00 am.
• Similar to the sale of wAVAX, the largest volume and number of purchase transactions of this currency are recorded on Wednesdays and Thursdays.
• The lowest volume and number of wAVAX purchase transactions are recorded on weekends.

🔎 Findings

• The highest amount of activity related to providing wAVAX liquidity was recorded on January 31.
  • Maximum number of liquidity provider → 46 unique addresses
  • Maximum number of liquidity providing → 83 Transactions
  • Maximum volume of liquidity providing → 1,515 wAVAX
• There are currently 223 wAVAX liquidity providers on the Osmosis chain. These addresses have provided about 3820 wAVAX on Osmosis during 333 transactions. On the other hand, only 12 addresses have removed about 196 wAVAX from this chain.

🔎 Findings

• The address osmo1mj4c3whfpphcsw0m2vu6g9r0d6pgv8cfwgrejv has provided the largest volume of liquidity so far. (759wAVAX)

  This address has provided this amount of liquidity during 1 transaction.

• The address osmo147l6ml8xymdffxr3rlehv4hxzq069dc6x45vm8 has registered the highest number of transactions providing liquidity. (30)

💡 Conclusions

Considering that wAVAX was listed on Osmosis at the end of January, therefore, in this dashboard, the activity of traders of this currency on this chain was analyzed and compared with the activity of wAVAX traders on Avalanche for a more detailed review. The most important results found in this section are:

• In the Osmosis chain, the sales volume of wAVAX is higher than its purchase volume (65% vs. 45%). Meanwhile, in the Avalanche chain, the purchase volume of wAVAX is slightly higher than the sale of this currency.
• The average volume and number of transactions per user in Osmosis chain is much higher than Avalanche.
• In general, wAVAX traders are more active on the Avalanche chain than on the Osmosis chain.

But in the next parts, the activity of wAVAX traders was examined in more detail. First, the top traders were identified. The results show that the address osmo1kjmy7vhzz954rqe293fxgc63ujqyy0nnq7qk6d is the top wAVAX trader on the Osmosis chain. In the next step, the time pattern of transactions was evaluated. The most important results obtained in this part are:

• Most wAVAX transactions are recorded on Wednesdays and Thursdays, and traders' activity reaches the lowest level on Saturdays and Sundays.

In the last step, the activity of users in the field of providing wAVAX liquidity on the Osmosis chain was analyzed. The results show that at the end of January and the beginning of February, users have provided a large amount of wAVAX liquidity, for example, on January 31, about 1515 wAVAX were collected in Osmosis chain pools. On the other hand, the addresses osmo1mj4c3whfpphcsw0m2vu6g9r0d6pgv8cfwgrejv and osmo147l6ml8xymdffxr3rlehv4hxzq069dc6x45vm8 are the top wAVAX liquidity providers on the Osmosis chain.

Analyst: Emanoel

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Discord: Eman#9698