DOT DOT, Who's There?

Like most assets in the last two years, DOT saw a meteoric rise in 2021 followed by a crater in 2022. However, DOT there still remains a little bit of DOT liquidity and volume flowing through Osmosis. Is the trading activity of DOT on Osmosis real user activity, or is this just arbitrageurs? How many users are active in Pool 773 every day, week, month?

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Pool on OSMOSIS

Backbone SQL:

SELECT
  DATE_TRUNC('day', BLOCK_TIMESTAMP) AS date,
  COUNT(DISTINCT TRADER) AS traders,
  COUNT(*) AS trades
FROM
  osmosis.core.fact_swaps
WHERE ARRAY_CONTAINS('773'::variant, POOL_IDS)
GROUP BY date
ORDER BY date

As you can see, I have two key metrics in the back-bone SQL:

1. Number of Trades in a range
2. Number of Unique Traders in a range

Focusing on these metrics helped me to gather some tangible insights.

Then I developed a dynamic parameter (Criterion) to detect suspicious Days/Weeks/Months.

CASE
    WHEN trades/traders >= trades_average/traders_average THEN 'Suspicious'
  	ELSE 'Normal'
END AS type

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What is Polkadot?

Polkadot unites and secures a growing ecosystem of specialized blockchains called parachains. Apps and services on Polkadot can securely communicate across chains, forming the basis for a truly interoperable decentralized web.

Polkadot is an open-source sharded multichain protocol that connects and secures a network of specialized blockchains, facilitating the cross-chain transfer of any data or asset types, not just tokens, thereby allowing blockchains to be interoperable with each other. Polkadot was designed to provide a foundation for a decentralized internet of blockchains, also known as Web3.

Let’s jump into the main thread!

How many users are active in Pool 773 every day, week, month?

Daily Active/Unique Users and Trades

Weekly Active/Unique Users and Trades

Monthly Active/Unique Users (MAU) and Trades

In a brief, November and August (Especially, November) activities smell a bit fishy because of a significant amount of difference between our main criterion and the number of trades, so we can count these two months’ activities as arbitrageurs. Maybe, it could be better if we tune our criterion with observational data from reliable sources.