Methodology

-Get swap and transaction count of all stablecoins on Osmosis

-Further split swaps into from and to swaps

-All data from 2022

Swaps From

Swaps To

Transactions

Conclusion

It's clear from the data that UST or rather USTC now had almost a monopoly on the stablecoin market on Osmosis. UST was the only native stablecoin on IBC which gave them a huge advantage. Axelar seems to have caught up a bit as they have only launched recently, and with the collapse of UST it should be primed to take over. In the past few weeks we have also seen quite a few bridged stablecoins like DAI or USDC launch on Osmosis. In the future we will probably see more ERC20-based stablecoins on Osmosis and the whole IBC ecosystem.

There's no big difference between swaps and transactions relative to each other. Swapping to or swapping from also doesn't seem to have a significant difference.

In conclusion, axlUSDC is the most preferred stablecoin on Osmosis, closely followed by EEUR.