Osmosis - 7. Are New Tokens Bringing New Users?

    In recent weeks, we saw many new token listings, either bridged assets like AVAX, BNB, BUSD, or native assets like ACRE, ARUSD, MARS, NGM, etc. Did these new token listings bring new users into the ecosystem? Or did existing Osmosis users just start using them. Are there some assets that brought more users in than others?

    Introduction

    • Bridged Assets
      • Bridged assets in Osmosis refer to tokens that are created on other blockchain networks and are bridged to the Osmosis network. These tokens are represented on the Osmosis network as wrapped tokens, which are pegged to the value of the original tokens on their respective networks. For example, Osmosis supports the bridging of assets from other networks such as Ethereum, Binance Smart Chain, and Cosmos. When a user bridges a token from Ethereum to Osmosis, they will receive a wrapped version of that token on the Osmosis network. The wrapped token will have the same value as the original token on Ethereum, and can be used within the Osmosis network for liquidity provision, trading, and other DeFi activities. By bridging assets to Osmosis, users can take advantage of the benefits of the Osmosis network, such as high transaction speeds and low fees, while still being able to access and use their assets on other networks. Additionally, bridging assets to Osmosis can increase liquidity and trading volume on the network, which can lead to better prices and lower slippage for traders.
    • Native Assets
      • Native assets in Osmosis refer to tokens that are native to the Osmosis network and are not bridged from other blockchain networks. These tokens are created and managed on the Osmosis network itself, and are used for liquidity provision, trading, and other DeFi activities within the Osmosis ecosystem. The native token of the Osmosis network is called OSMO, which is used to pay transaction fees and to participate in governance on the network. OSMO is also used as a bonding asset for liquidity providers on the network, who can earn fees and incentives by providing liquidity for trading pairs on Osmosis. In addition to OSMO, the Osmosis network supports the creation of custom tokens by users and projects. These custom tokens can be used for a variety of purposes, such as incentivizing liquidity provision for specific trading pairs, creating governance tokens for decentralized decision-making, or representing ownership rights in a particular project. Overall, native assets on Osmosis are integral to the functioning of the network, providing liquidity and value to users and supporting the growth of the Osmosis ecosystem.

    Methodology

    1. From here I downloaded the newest osmosis assetlist json file. I searched there and found many bridge type and ibc type assets. (ibcs correspond to native assets). I classified them into two categories: Bridged Assets and Native assets.
    2. we use from “20 days ago” until now to analyze the new tokens in the osmosis ecosystem.
    3. By joining symbols and transactions tables we answered the questions and made a decision.
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    From this chart we see that the total price of Bridged assets used in recent days 1k times more than Native assets.

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    since Feb 15, we see an increasing trend in the number of active users who entered the ecosystem. The pick of the chart occurred on Feb 19, in which 3480 Users participated. But since 20 Feb we see an abruptly falling in the number of active users, we anticipate this decreasing movement because of national holidays. These new token listings bring new users into the ecosystem.

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    As we see above, equitably users make a transaction with their assets.

    ACRE and NGM are a little more likable.

    The number of transactions for each symbol is even somehow the same. whimsical!

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    total price had a partly constant movement in 20 recent days and on the other hand, we can’t see a significant similarity between the number of transactions and the price line.