What is the Question?🚨

Track the flow of Matic to Osmosis. Where is this MATIC coming from? Did users remove this MATIC from specific protocols to bridge over to Osmosis?

Additionally, analyze the change in daily/weekly bridged volume since incentives were turned on. Judge the success of the incentives in driving liquidity over to Osmosis. Are most users bridging MATIC new users or existing Osmosis power users?

Analyzed Topics:

1. Overall and Over Time Statistics of Matic Transfers into Osmosis
2. Daily Matic Flow to Osmosis Since December 2022 Divided by Incentives
3. Top 5 $MATIC Senders and Receivers To and From Osmosis
4. $MATIC Receivers Behavior on Osmosis
5. Old and New Users
6. Where is the $MATIC Coming From to Osmosis?

Introduction🚩

What is OSMOSIS?

Osmosis is a DEX protocol, which means it uses smart contracts to determine the price of digital assets, to produce liquidity via a peer-to-peer (P2P) methodology, and to exact trades between users. This approach to an exchange platform is known as an AMM — a DEX protocol that prices crypto assets in liquidity pools.

More Info

What is OSMO(Token)?

The Osmosis token (OSMO) is used to vote, stake, and provide liquidity throughout its pools. Superfluid staking, a process novel to the Osmosis protocol, allows users to stake assets to secure the network while simultaneously providing assets in a liquidity pool.

More Info

What is Polygon(MATIC)?

MATIC is the network's native cryptocurrency, which is used for fees, staking, and more. You can buy or sell MATIC via exchanges like Coinbase. The Ethereum blockchain is home to a vast range of economic activity — from NFT markets and games to the growing DeFi ecosystem.

wMatic (also known as Wrapped Matic) is what is used to pay for the NFT is used to pay for the transaction fees (gas fees). *Matic is the token you should purchase first because you'll need this to pay for actions on the Polygon network.

More Info & [Info](https://nftreats.art/guide-how-to-collect-art-matic-wmatic/#:\~:text=wMatic%20(also%20known%20as%20Wrapped,actions%20on%20the%20Polygon%20network.)

Method⚡

In this dashboard i analyzed the $MATIC flow to Osmosis chain and went deep through its transfers to Osmosis and explored who are the senders, where are the transfers coming from and what are the most popular activity among $MATIC receivers on Osmosis. Also i take a look at $MATIC senders to see if they are new users or old users. You can get the answer of all the questions that i mentioned in this dashboard.

For this matter i used ==“osmosis.core.fact_transfers”== and ==“axelar.core.fact_transfers”== tables provided by Flipsidecrypto and filtered $MATIC on Osmosis with its contract address:

currency = 'ibc/AB589511ED0DD5FA56171A39978AFBF1371DB986EC1C3526CE138A16377E39BB'

Also filtered the transfers with transfer_type ='IBC_TRANSFER_IN'

and only considered successful transactions with tx_succeeded=TRUE

At first i analyzed the data in overall and monthly basis and then went more specific and analyzed the transfers on a daily basis since December 20th and divided them by 2 periods, Before incentives and after incentives that happened on December 20th.

1. Overall and Over Time Statistics of Matic Transfers into Osmosis

2. Daily Matic Flow to Osmosis Since December 2022 Divided by Incentives

Findings👀

• In this section i showed over time stats of flowing $MATIC to osmosis chain on a monthly basis.
• We can see that past 2 months i mean January 2023 and December 2022 recorded the most $MATIC flow to Osmosis among other months and most of the transfer activity to Osmosis happened on January while the most transferred volume has been recorded on December with over 257K $MATIC and an average of 1204 $MATIC in that month.
• There were very few senders but there were so many receivers on each months. As we see earlier on single number charts there were only 8 senders of $MATIC to Osmosis over time while there were 375 Receivers and these 8 senders has been recorded 685 transfers with a total volume of 498K $MATIC and the maximum sent volume was 25.6K $MATIC.

> # Above numbers are showing overall metrics of $MATIC flow into Osmosis over time.

Findings👀

• In this section i showed $MATIC flow to Osmosis chain again but this time it is on a daily basis and i divided the charts by before and after the incentives and limited it since December 2022.
• We can clearly see that after the incentives, the transfer activity of $MATIC to Osmosis has increased significantly and recorded the highest activity on few days after incentives that happened on December 20th.
• In overall, there were more transfer activity has been recorded after incentives than before them.
• A total of 513 transfers has been recorded and generated a total amount of over 400K $MATIC over time since December 2022.

3. Top 5 $MATIC Senders and Receivers To and From Osmosis

Findings👀

• Currently we are seeing top 5 $MATIC senders to Osmosis and receivers on Osmosis in terms of transfer count and transfer volume.
• ==“axelar19xj4ncc6h6y5ahpfqtspdx75y3dkrxj3zpah9k”== wallet address has done the most transfer activity of $MATIC to osmosis and sent a total of 665 number of transfers with a volume of over 497K $MATIC.
• ==“osmo1mmc3t95zm3985njsj58ww5vph2xfeq5hh4gjtw”== wallet address has received the most number of $MATIC transfers from somewhere else to Osmosis with 79 transfers and this wallet is in the second place in terms of received volume with 56K received $MATIC following ==“osmo1tqctx98qz2aa25j5knzuztxaerl3z0ld8q6c72”== in the first place with almost 75K $MATIC.

4. $MATIC Receivers Behavior on Osmosis

Findings👀

• In this section i showed what $MATIC receivers on Osmosis do after they receive their $MATIC on a monthly basis.
• It seems the highest activity of them happened in past 2 months and swap activity is accounting most of their performance and evolving month by month.
• Left pie chart is confirming my earlier statement and as we see swap accounted 65% of $MATIC receivers activity on Osmosis followed by Transfer in the second place with 21.5% and staking in the third with 8%.
• It looks like Voting and LP activity by them has decreased recently and started to decrease after mid 2022.

5. Old and New Users

6. Where is the $MATIC Coming From to Osmosis?

Findings👀

• In here we can see most of the $MATIC transfer activity to Osmosis has been done by New users and increased massively after December 2022 as i said earlier.
• New users recorded 555 number of transfers with over 400K volume while old users recorded only 125 transfers with less than 50K volume over time.

Findings👀

• In this section as the title says, i showed where are the $MATIC coming from to Osmosis chain and explored which other chains are sending $MATIC to Osmosis the most in terms of transfer count and transfer volume and on overall and monthly basis.
• Axelarnet or Axelar chain was the biggest $MATIC sender to Osmosis on every months followed by Polygon itself in terms of transfer count and followed by Ethereum in terms of transfer volume.
• Axelarnet has sent a total of 350 transfers to Osmosis with over 200K volume followed by Polygon and Ethereum with less than 100 transfers and nearly 200K volume for Ethereum and 25K for Polygon.

Conclusion💡

• The highest $MATIC flow to Osmosis has been recorded after December 2022 and the highest activity happened on January while it has not finished yet.
• Highest $MATIC Transfer volume has been recorded on December 2022 with over 257K $MATIC.
• $MATIC transfer activity to Osmosis experienced a massive increase after incentives which happened on December 20th and 3 days after that recorded the highest $MATIC flow to Osmosis.
• ==“axelar19xj4ncc6h6y5ahpfqtspdx75y3dkrxj3zpah9k”== was the highest $MATIC sender to Osmosis with 665 transfers and over 497K total volume.
• Swap was the most popular activity among $MATIC receivers on Osmosis over time followed by Transfers.
• As of the investigation that i made earlier i found out that surprisingly most of the $MATIC flow to Osmosis has been done by New users and they recorded much more stats than old users.
• Axelar was the chain that sent the biggest $MATIC flow to Osmosis over time with over 300 transfers and over 200K transfer volume.
• Totally there were few $MATIC senders to Osmosis but they sent massive $MATIC volumes and most of them has been sent from Axelarnet followed by Ethereum.

Author: Sbhn_NP

Discord : Sbhn_NP#8717

Twitter : Sbhn_np

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Special Thanks to hess and adriaparcerisas for some inspiration.

Thanks for your time!