Methodology

Recently, there was a surge in activity on the Gnosisis chain, and in this dashboard, we will investigate the source of this activity to find out why there was such a surge. The information displayed on this dashboard will originate from the

tables within the gnosis.core directory of Flipside's database.

topic of discussion on this board:

• Examine both currently active users and recently added users.
• examination of financial dealings and fees
• Depending on the number of transactions and users, do a study of the top beneficiary of transactions.

Gnosis Chain

is a future-forward network built for scalability, community, decentralization and sustainable growth. 10x Carbon Negative since '21. discord.gg/gnosischain Joined April 2019.

Introduction

The cryptocurrency Gnosis (GNO) is linked to the predictions platform Gnosis Olympia. It provides users with a range of real and potential information on which they can make predictions. If they are successful, users are paid with Gnosis tokens. It uses blockchain technology, which makes it possible to specify a series of data and information that, when discovered in the blockchain, will produce a variety of possible conclusions that fit the variables. As a consequence, it has the essential structure to improve the world of predictions. Users will discover results that will allow them to visualize the causes, the factors that were involved, etc. Additionally, users of the Gnosis Olympia system can design additional events and assign the relevant variables. Martin Köppelmann and Stefan George, two young entrepreneurs that together make up the Gnosis Olympia team, launched the platform Gnosis in May 2017 with the intention of changing the digital forecasts industry.

In the following two pie charts, popular tokens are shown in terms of the number of transactions, one of these charts shows primary tokens, the other shows secondary tokens.

• As you can see, there are very high volumes from October 4 to 8 in the number of transactions, varying from ~185K to ~364K
• There is a high number of transaction senders on October 5, with around 57K users
• We can also see a high amount of transactions on September 19 & 20 and a high number of transaction senders on September 27 & 28

The transaction count over time is determined with the addresses of the users and it is seen that the user :0x37efe9b31830653039edc3b212a6e1b882cd46b4 has made the highest transaction than all others and is responsible for the unusual activity.

• As we saw in the previous sections, most of the transactions failed and didn’t use any Gas, so it’s not a surprise to see that total Gas Used on the spike date were almost in a normal range.
• The Cumulative Average Gas as a better metric says differently, we can see the spike on October 4th and 5th.
• The Net flow is also another metric that we can see there is no big volume change happened on the given date.

• The four day period between Oct 4 - 8 had a notable increase to transaction amount for example the lowest transaction per day recorded in this time period was, 185K transactions done by 3K users which was was 3K more than transactions recorded on Sep20 which was the highest recorded in more than a month, in this time span Oct5 had the most transactions and wallets recorded in a day with 363K transactions done via 57K wallets, overall around 25% of all the transactions since September happened in these four days.
• Seems that usually with each visible spike in average transactions per day, a notable increase to the ratio of failed transactions and a decrease to successful ones are recorded and with more user interactions error ratio will increase, these spike happened in two time period once from Sep19-20 which 181K avg transactions created ~42% failed transactions, the one since Oct5-8th 2022 was more extreme which 363K avg transactions created 74% failed ratio, before success rate returning to a acceptable ratio on Oct9, most failed transaction happened a day before, with 85% of the average of 336K daily transactions failing which could be Gnosis safety feature against DDOS attack and such.

As of above chart can be observed, an unusual daily unique sender count was happened in Oct 5th with 56.15K transferrer, that was too huge number.

Also, according of right chart, the transfer transactions type is the most of transactions count over past 2 month.

Conclusion

• The number of unique xDAI senders reached an all-time high on October 5; nevertheless, the volume of xDAI transfers and the number of transactions including transfers did not considerably increase over this same time period.
• On October 5, 2022, there were 54.81 thousand new xDAI senders, marking an all-time high for the number of daily new xDAI senders. The vast majority of people who transfer data over xDAI are doing so for the very first time. Now that the Starknet airdrop of $STARK tokens has been confirmed, this information is consistent with our theory that the surge in price is the result of airdrop farmers.
• Both the daily number of unique wallets that transacted on Gnosis and the daily number of Gnosis transactions reached their respective high points at roughly the same time, which is analogous to the pattern seen with xDAI transfers.
• The unusual action at Gnosis took place on October 5 between the hours of 7 and 10 in the morning.
• There was a significant increase in the number of users on Gnosis, and approximately 55,000 new members signed up all of a sudden.
• On October 5th, the majority of the transactions that were recorded were transfers, and xDAI was the token that was transferred the most on that day, in contrast to the other days in October.
• On October 5th, the wallet with the address "0x37efe9b31830653039edc3b212a6e1b882cd46b4" was the one that was involved in some strange behavior in Gnosis.
• Since the beginning of October, a total of 67 thousand users have completed more than one million transactions on Gnosis.