Overview

Osmosis is an automated market maker (AMM) built with Cosmos SDK. It specialises in the InterchainDeFi movement in the Cosmos ecosystem. In other words, Osmosis is a decentralised exchange built specifically for Cosmos, with plans to expand to more blockchains.

Osmosis is unique within the Cosmos ecosystem (and other DEXs) because it aligns liquidity providers, DAO members and delegator interests with a variety of incentives. On the one hand, staked liquidity providers have sovereign ownership over their pools and can adjust parameters based on market conditions and the competitiveness of the pool, among others. Nothing in Osmosis AMM is hard-coded: LP providers can vote to change any parameters of the pool, such as exchange fees, token fees, reward incentives and curve algorithms.

Liquidity providers can add liquidity to a pool and earn the pool's exchange fees (determined by the pool owner, typically around 0.3%) and receive LP tokens, which can be linked for a duration of 1 day, 7 days and 14 days.

The USDC is a digital currency pegged to a fiat currency: the US dollar. In doing so, it not only adds value to cryptocurrencies, but also allows them to be exchanged as if they were dollars. This gives confidence and security to the network.

As a stable currency, it is also widely used to provide liquidity and generate income through pools. That is why this currency occupies one of the highest rankings in the cryptocurrency market.

Methodology

This dashboard is a representation of how USDC is doing in terms of transactions, swaps in comparison to transfers health accross Osmosis blockchain over the past 1 month hourly and 3 months daily. As well, a comparison between USDC mints and burns is presented.

The analysis provides hourly and daily metrics about:

• USDC swaps and transfers in terms of:

  • Daily and cumulative number of transactions over time

  • Daily and cumulative users over time

  • Daily and cumulative volume over time

  • Daily average volume over time

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• USDC mints and burns in terms of:

  • Daily and cumulative number of transactions over time

  • Daily and cumulative users over time

  • Daily and cumulative volume over time

  • Daily average volume over time

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USDC swaps vs transfers

Hourly

Daily

In these first graphs we can see the results of the USDC swaps and transfers metrics and see a comparison between the two, as far as the number of events is concerned, we can see that as usual, there are more swaps than transfers since the beginning of the period under evaluation. We can see that the overall number of transactions and swaps remained so stable over the past three months. During these past 3 months, there have been a total of 68k USDC transfers pr around 850k swaps. As far as the distribution of transactions is concerned, we can see that swaps represent more than 85% while transfers represent 15%.

In terms of users, we can see that both have different trajectories. While swaps have higher active users than transfers, during this past months transferers remained stable at the same range between 150 and 250 daily, while swappers has been decreasing over time, passing from 3k to 1k daily. In terms of distribution, swappers represented more than 92% of the USDC users but now, the percentage dropped below 90%.

Regarding the volume, we can see that in most of the first days/weeks, there was more volume of transfers than swaps, however, this seems to be reversing. In this case we can clearly see the change in distributions. While transfers dominated the last days of October, this percentage has gradually dropped to 30% in the last few days, giving way to swaps. Even though, the average daily volume remained higher on transfers than on USDC swaps. The 7-hour and 7-day MA have been stable over this period with a higher amounts for transfers.

USDC mints and burns

Hourly

Daily

In these first graphs we can see the results of the USDC mints and burnts metrics and see a comparison between the two, as far as the number of events is concerned, we can see that as usual, there are more burns than mints since the beginning of the period under evaluation. We can see that the overall number of mints and burnts remained so stable over the past three months. During these past 3 months, there have been a total of 20k USDC burns pr around 15k mints. As far as the distribution of mints and burns is concerned, we can see that mints represent around 40% while burns represent 60%.

In terms of users, we can see that both have different trajectories. While burns have higher active users than mints, during this past months both numbers remained stable, representing the mints 5% of users while burns around 95% of them.

Regarding the volume, we can see that in most of the first days/weeks, there was similar volume minted (87M) and burnt (88M). In this case, we can see how the distribution has been changing day by day, having mints a 30% some days and 70% in other days. The average daily volume minted and burnt as well as the 7-hour and 7-day MA have been similar in both cases which have been dropping over the past 3 months but now remained stable over the past weeks.

Key insights

• There are more swaps than USDC transfers since the beginning of the period under evaluation.
• During the past 3 months, there have been a total of 68k USDC transfers per around 850k swaps. Representing swaps more than 85% while transfers represent 15%.
• While swaps have higher active users than transfers, during this past months transferers remained stable at the same range between 150 and 250 daily, while swappers has been decreasing over time, passing from 3k to 1k daily. In terms of distribution, swappers represented more than 92% of the USDC users but now, the percentage dropped below 90%.
• There was more volume transferred than swapped, however, this seems to be reversing. While transfers dominated the last days of October, this percentage has gradually dropped to 30% in the last few days, giving way to swaps.
• There are more burns than mints since the beginning of the period under evaluation.
• During these past 3 months, there have been a total of 20k USDC burns pr around 15k mints.
• While burns have higher active users than mints, during this past months both numbers remained stable, representing the mints 5% of users while burns around 95% of them.
• There was similar volume minted (87M) and burnt (88M). I
• The average daily volume minted and burnt as well as the 7-hour and 7-day MA have been similar in both cases which have been dropping over the past 3 months but now remained stable over the past weeks.