Transaction Failures

    $OSMO

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    Today, we want to look at failed transactions in OSMO and try to make something out of it. $OSMO is the native token for the advanced automated market maker (AMM) which has its own standalone chain in the Cosmos universe.

    Every chain has its fair share of failed transactions that might come from various reasons. For OSMO, let us look at failed transactions over time and how the trend has been.

    In the chart above, we can see that OSMO failed transactions have been quite below 500k/per day since genesis, until May 2022, when that threshold was broken. On May 12, the number of failed OSMO transactions reached a high of 2.8M. This high can be attributed to the $LUNA crash which happened within the same time period.

    So in the past 4 months, what has the rate of failed transactions been? We can see below that the rate of failed transactions on OSMO is currently at 5.03%

    Next, let us look into failed OSMO transactions by type. We got to understand that there are 4 types of OSMO transactions as defined by the chain, these are:

    • coin_received
    • coin_spent
    • message
    • transfer
    • tx

    tx transaction types are the type with the most failures. A little dive into the chain explorer for OSMO reveals that tx transaction types are Swap transactions that failed because the fee being paid was lesser than what was required.

    The majority of failed tx transactions can be prevented by ensuring that they are not sent to the chain in the first place if the user does not have enough OSMO to finance the swap.