Introduction

What is Terra?

• Terra is an open-source, community-owned blockchain which hosts a vibrant ecosystem of applications. On Terra, you can build applications and organizations using the available suite of cutting-edge developer tools, or simply try out existing ones by connecting a wallet.

• The Terra ecosystem runs on its native cryptocurrency, LUNA. You can use LUNA to pay for transaction fees on the Terra blockchain as you interact with various applications. Additionally, you can also use LUNA to earn staking rewards, purchase your favorite digital art, have a say on community-led governance proposals, and much more.

• Terra is permissionless and borderless, which means that its next-generation financial products are accessible to anyone in the world with an Internet connection.

  What is Luna 2.0?

• Luna 2.0 is the brand new token of the new Terra blockchain intended to rescue the Terra Luna ecosystem following the stablecoin collapse.

• Based on the Luna rebirth, TerraForm Labs founder Do Kwon's proposal saw a new chain replace the existing Terra network. Alongside this, Luna 2.0 replaced the existing version of Luna, which was tied to the UST stablecoin, and saw the crash happen in the first place.

• Alongside the new chain, most of the dApps will also migrate to the new chain.

Source

Methodology

In this dashboard, we will use the terra.core tables hosted on Flipside Crypto to create a dashboard documenting significant trends in transactions, wallets, supply, staking, development, or other aspects of the Terra ecosystem and compare the metrics over the new year with the Previous Days over the past year.

We will use the following metrics:

• LUNA Price
• Transaction Statistics
• Wallets Statistics
• Development and Contracts Deployment
• Stablecoin Transfers
• Staking Activities
• Swap Activities
• NFT Sales

Conclusion

• The daily transaction fee indicated a modest variation between Christmas and prior days, but the average fee for the new year is 18.77 LUNA less than previous days, which was 22.06, thus the typical fee was lower around Christmas. The average TPS for the new year is 0.017, which is substantially lower than the average of the previous days, 0.026.

• After the new year, daily active users remained constant until January 9, when 1356 unique users jumped. The average number of users for the new year and prior days is 666 and 674, respectively. We can infer that on Christmas days fewer users are joining the Terra ecosystem by comparing the average number of new users for the new year, 114, and last year, 133. Comparing the top 10 users by the number of transactions and paid fees in the new year and the previous year, the first place stayed consistent, while the other places altered. Also, the top ten Richlist of prior days and the new year differ. Lastly, comparing wallets by transactions, we see that in the new year, the percentage of wallets with 2 to 10 transactions has increased compared to previous days, while the percentage of wallets with more than 10 transactions has decreased, which is not a problem because only ten days have passed since the new year.

• Since 2023 began, 53 contracts have been awarded. Terra 2.0 is busy and thriving, with 5.89 contracts deployed on average. The number of new contracts climbs at the start of the year, reaching 9 on January 4 and 5. 127 contracts were deployed in December 2022. At the start of the year, the trend resumed. Astroport still leads most interacting contracts with over 50%, while other ranks haven't changed.

• Stablecoin transfer transactions remained constant until a dramatic surge in both transfer in (80) and transfer out (3599). The average stablecoin transfer in transactions was 41.4 for the previous days and 41.6 for the new year. Average stablecoin transfer out transactions were 877.06 for the previous days and 922.44 for the new year. Stablecoin transfer volume increases with the new year, as evidenced in average volume charts for both transfer-in and transfer-out transactions. The average number of stablecoin transfer-out transactions was 629.04k for the previous days and 820.37k for the new year. Since the new year, stablecoin transfer-out transactions have increased in transactions, users, and volume while transfer-in transactions have stayed stable.

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During the festive season, newly created wallets staked some fair amounts of LUNA on validators. An average amount of 1.424M LUNA was staked every week! Although transaction counts are in moderate numbers, the volume of LUNA staked is extremely high for a population of about 5,000. This is indicative of whale activity.

• The most activity of users in the holiday season in terms of the number of wallets was transfer, followed by stake and then swap

• Transfer → 51.4%

• Stake → 35.9%

• Swap → 8.65%

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The Bridge parameter has been presented in this section. The first chart examines the "number of bridge out".

The trend of this key figure is regular and does not show any special changes over the holidays compared to the other days.

However, if we take a closer look at the chart, we can see a small spike on ==January 9th==. While that's not sharp enough to call it a big change in this chart, it's worth noting! It means users bridging their wealth on the Terra ecosystem for many purposes such as buy gifts and ... .