Explanation of the analysis

In this Bounty, I have investigated different burning and minting processes over a set period of time. What is important to note is that all of the graphs include a scaled logarithmic y-axis in order to show a clear difference between the amounts minded and burnt.

Results

This table summarises all of the amounts burnt and minted to and from different synthetic assets. In order to make it clear, the graphs below allow us to visualise this data:

This graph shows that the amount of burnt Luna to Rune (in orange) is almost always greater compared to the amount minted (in blue). This statement is not true on March 27th 2022 and on March 29th, when the amount of luna minted from Rune was bigger. What this graph also shows is that users see more value in burning Rune for Luna, as they potentially see Luna as a more valuable asset.

The above graph presents the amounts of UST burnt to Rune (in orange) and the amount of UST minted from Rune (in blue). What we can see from those results is that burning has always been greater compared to minting, at least for this set period of time. This implies that users minted Rune at a lower price and sold it after it increased in price, meaning that they managed to mint and sell for profit.

The third graph of this dashboard shows the amount of Rune that was minted to Luna (in blue) and burnt from Luna (in orange). Again, the burning almost always took over, except from two days: March 27th and March 29th. Analysing these results shows that similarly to the first graph, users prefer to burn Rune from Luna. However, we have to remember that the differences are not that huge, as the graph clearly shows that on some days there is barely any difference between the amounts (and that the graph is logarithmically scaled).

The last graph shows the amount of Rune minted to UST (in blue) and burnt from UST (in orange). As in the previous graphs, the amount burnt from UST is always higher, without any exceptions this time. What this implies is that users were generally burning Rune to make profits on a daily basis.

Conclusion

All of the graphs above add together to explain what has been going on with the minting and burning of different synthetic assets. What we have to keep in mind is that these are aggregate statistics, in order to get a bigger picture we would have to investigate how many transactions have been made on each day. This would tell us whether individual users were trading Rune to make profits after it increased in price, or whether bigger amounts were traded by Whales to quickly increase the price of Rune.