Introduction

The Osmosis Labs team was a major contributor to the Osmosis Protocol (osmosis.zone). Osmosis is a first-of-its-kind automated market maker (AMM) that marks a foundational shift in how liquidity providers can benefit from Interchain DeFi. Osmosis allows users to compound yield by leveraging Osmosis’ novel innovation called Superfluid Staking; eliminates miner extractable value; and provides greater latitude for developers to innovate within DeFi given the flexibility of the Cosmos SDK.

Like most assets in the last two years, AVAX saw a meteoric rise in 2021 followed by a crater in 2022. However, Osmosis has recently launched a new pool OSMO/WAVAX where it seems that wAVAX liquidity and volume started to flowing through Osmosis.

\n

Methods

The idea behind this chart is to analyze how wAVAX has been used on Osmosis over this time, by analyzing several metrics over time in a hourly, daily and/or weekly basis.

To do a good comprehensive analysis, I have analyzed not only the wAVAX usage but also de OSMO/wAVAX pool 899 behavior.

The main metrics analyzed are:

• wAVAX swapping activity and comparison against native Avalanche chain
• wAVAX transfer activity and comparison against native Avalanche chain
• OSMO/wAVAX pool analysis

This is an interactive dashboard where the reader can choose which granularity will be studied: hourly, daily or weekly. To do that, the parameter above must be selected and then the “Apply All Parameter” have to be clicked to refresh the results!

wAVAX swapping activity

In terms of swapping, it seems that wAVAX activity on Osmosis is experimenting a growth since the last days of January. In fact, if we compare the numbers against the native Avalanche chain, we can see how the amount of swappers recenlty reached similar numbers on Osmosis. However, since the start of February, the activity decreased again a little bit. Regarding number of swappers and volume swapped, it can be seen as well how the numbers increased on Osmosis and are now closer to the Avalanche chain numbers. During the past days, the numbers on Osmosis reached more than a half the Avalanche numbers. Finally, looking at the average volume swapped in and out, we can see how during the last days, the numbers have been higher on Osmosis than in Avalanche.

Then, looking at the results obtained and taking into account when the OSMO/WAVAX pool was launched, it is clear that it caused an important and positive impact on Osmosis in terms of wAVAX swaps.

wAVAX transfer activity

Regarding the wAVAX transfers, we can see that the numbers remained stable and didn’t experiment any change. If we compare against Avalanche main native chain, we can see that the Osmosis numbers are so far.

Thus, in this case, the launch of the OSMO/wAVAX pool doesn’t seem that may caused any impact on the wAVAX transfers on Osmosis.

Pool #899 - WAVAX / OSMO

Finally, looking at the wAVAX pool #889, we can see how during the first days, more deposits were executed. During these first days, the amount of deposits experimented an uptrend reaching the highest numbers during the recent days. But, looking at the withdrawals, it seems that the situation is in the other way around. It can be seen how the distribution of actions started to change, and the difference between deposits and withdrawals is now higher generating positive numbers since the launch of the pool.

Looking at the volume, we can see how in this case, the major volumes were not in the first days, which is important for the liquidity of the pool. Even now it seems that is starting to increase again, the withdrawals are doing the same as well. Finally, if we take a look at the net volume, we can see how it remained positive during the major of the days, but there were some important days when a huge important of volume were withdrawn.

Key insight

• The launch of OSMO/wAVAX pool has caused an important and positive impact on Osmosis in terms of wAVAX swaps.
• The amount of swappers recenlty reached similar numbers on Osmosis than on Avalanche.
• Regarding number of swappers and volume swapped, it can be seen as well how the numbers increased on Osmosis and are now closer to the Avalanche chain numbers. During the past days, the numbers on Osmosis reached more than a half the Avalanche numbers.
• The launch of the OSMO/wAVAX pool doesn’t seem that may caused any impact on the wAVAX transfers on Osmosis.
• During the first days of OSMO/wAVAX pool, more deposits were executed.
• During these first days, the amount of deposits experimented an uptrend reaching the highest numbers during the recent days.
• The major volume amounts were not registered in the first days, which is important for the liquidity of the pool.
• If we take a look at the net volume, we can see how it remained positive during the major of the days, but there were some important days when a huge important of volume were withdrawn.

Osmosis chain

Avalanche chain