Try Quests to earn cryptoUSDC Declining on Osmosis?
Analyze your favorite token’s LP & trading activity on Osmosis over the past week. Please provide volume and user growth metrics into this analysis and focus on deep insights on ONE token.
Work Description
Following the announcement by the Binance exchange that it will no longer accept the USDC token, it seems that the use of this token in the cryptocurrency world may have declined.
In this dashboard, we aim to answer this question by examining all OSMOSIS liquidity pools, one of the tokens of which is a form of USDC.
In this analysis, we extracted the number of swaps based on the osmosis.core.fact_swaps table and the names of the pools based on the tokens exchanged in each pool from the same table. The osmosis.core.fact_liquidity_provider_actions table is also used to obtain information about LP.
You can change the number of weeks based on which these charts are drawn in the first part of the dashboard.
USDC Pool Usages
Let's first look at the general statistics of swaps based on different USDC tokens (These different forms of the USDC token can be seen in the first graphic below).
Then we rank the liquidity pools by the number of swaps and get the number of daily users and the number of swaps in these pools in the given interval.
Pool Actions
Next, we will examine the level of capital inflows and outflows from the USDC Pools to determine if the rumor also influenced the decline in the USDC LP Actions or not.
Takeaways
- Statistics and general information about pools containing USDC, contrary to expectations, have experienced a decent growth in the last few days (until October 14). That is, both the number of swaps and the number of swappers have increased in the last few days.
- However, if we look at the statistics of USDC withdrawals from the pools, the amount of capital withdrawn is much higher than the amount of capital brought into these pools, both on a daily average and in general (although the number of operations brought into the pool is higher than the number of operations withdrawn).
- It therefore appears that the volume of USDC usage in OSMOSIS may decrease in the future, and the volume of the corresponding liquidity pools is the first sign now.
- The USDC .axl<->OSMO liquidity pool is by far the most active USDC-related liquidity pool on OSMOSIS.