Contractually Obligated

    Question 162: Based on your analysis for #161, provide the top 20 smart contract addresses that users interact with or the top 2 smart contract addresses per each of the protocols that you previously analyzed. Grand prize-winning submissions will assess both! Question 161: Assess the extent to which new users interact with each of the following projects. For Definition, clearly define what “interact with” means, e.g. “at least 1 transaction”, “at least 5 transactions”, etc. Anchor, Mirror, Pylon, Astroport, Terraswap, Prism, Mars

    Introduction

    Terra's blockchain activity has been growing steadily for the past months. There are multiple protocols which have found a big user base and are driving the popularity of Terra through the roof. This dashboard will analyze which contracts are the most popular for new users for the whole Terra blockchain and specifically for each protocol listed in question 161.

    Methodology

    Since I didn't submitted Q161, I will include the analysis of new users interaction in this dashboard as well.

    To find the new users I will query the terra.transactions table to find the min(block_timestamp) for each tx_from on a CTE and then limit this list of new users to the last 90 days and to tx_from arrays with only one address to limit multi-input transaction from the analysis. All new users with at least 1 transaction on the last 90 days will be evaluated.

    By creating a query joining the result table from above with the terra.labels, I can identify the smart contracts that users interact with and will present the information on two visualisations:

    • top 20 smart contracts by number of transactions, identifying the protocol they belong to

    • top 2 smart contract by number of transactions per listed protocol in Q161

    EDIT: for the top 2 smart contracts per listed protocol, the terra.labels table is missing some info on Prism and Mars protocol, so I added some contracts with a case to the query. These contracts were provided in Discord by user @Pinehearst.

    Results

    First of all, some context:

    • I identified over 46M transactions from over 500k different new users in the last 90 days.

    • From the listed protocols in Q161, Terraswap has the most smart contracts number by a landslide. Mirror and Astroport are 2nd and 3rd with 64 and 55 and anchor and pylon each have 26. Mars protocol only has one and prism cannot be found in the terra.labels table.

    Top 20 smart contracts for new users

    The top 20 smart contracts have some interesting results:

    • Anchor protocol appears multiple times in this list, with the market (Top 1), oracle (Top 2) and token contracts (aUST, ANC and bLUNA - Top 5-7).

    • Random Earth sale contract is Top 3

    • Terraswap appears once with the LUNA-UST pair (Top 4), as well as Astroport with USD-LUNA LP (Top 10)

    • Mirror's Oracle also makes the list in Top 8.

    • A total of 11 validators appear as well, either with the owner or the validator address. I found it nice that apart from the top 3 validators in Terra Station (Orion.Money, B-Harvest and Staking Fund) also smaller ones appear (Terran One #15, Mosaic #26 or Staky.io #115)

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    Top 2 smart contracts for new users for listed protocols

    The chart below shows the top 2 contracts per protocol listed by number of transactions between all of them. Besides the results from the top 20 that are repeated, a terraswap smart contract (assert limit order) is listed, as well as MIR and ASTRO tokens for Mirror and Astroport protocol's respectively. Last, Pylon protocol with its own MINE token and the governance staking address appear closing the list.

    Conclusion

    Regarding the top 20 smart contracts for new users, the role of Anchor as the driver of new users engagement is clear. This can be explained by the high yield on the ANC borrow programs which has probably turned a lot of eyes into the protocol. Random Earth the most popular NFT Marketplace in Terra, so it is no surprise to find it in this list as well, since the NFT hype is attracting a lot of new comers as well. Finally, the amount of transactions to validators is from my perspective an indicator that a lot of newcomers want to stake their tokens as a first step. AS mentioned in the results, I find that having smaller validators in the top 20 is a positive sign, meaning that competition between validators to engage more users is good to prevent centralisation of validators.

    Regarding the top 2 smart contracts for new users for the listed protocols, Anchor is again present with the top 2 positions, followed by terraswap, mirror and astroport from the top 20 list. I couldn't succesfully find the Prism and Mars protocols top 2 despite the fact of adding the smart contracts provided by @Pinehearst, so I could only compare 5 of the 7 listed protocols.

    All in all, a very interesting bounty which helped me learn about a variety of smart contracts for different protocols as well as for validators addresses.

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