📝Introduction

🔍What is Terra 2.0?

✏️ After crash of Terra money in May 2022, and Luna (Terra’s native token) and UST (Terra’s native stablecoin), Terra community voted for a Revival plan to start a new hard fork with new token and mechanism, to somehow compensate the huge losses many people experienced in the death spiral Event.

✏️ As they call it too, much like a phoenix rising from the ashes of billions of dollars!

✏️ But right or wrong, not everybody was in compliance with new chain, ideas and plans. especially when we consider that there isn’t a native stablecoin around anymore, which makes terra 2.0 like many other L1 blockchain at best, as many experts indicate.

✏️ With all the disputes and discussions, some protocols and users have decided to stay on Terra and keep building, while many had left to find their destiny and fortune in other paths.

✏️ Now, after 6 month of continuous work post crash, we want to take a look at Terra 2.0 activity information.

🤓What you’ll learn from this dashboard

🟢 Total, Daily, Weekly and Cumulative Transactions Count, Users Count and Fee

🟢 Top 20 Wallets with most transactions

🟢 Distribution of User based on their activity profile

🟢 Daily and Weekly Active users VS New users

🟢 Weekly Transactions and Volume By Token

🟢 Weekly and Average Fee in Luna

🟢 Minimum, Maximum and Average Weekly Block Time and TPS (Transactions Per Second)

🟢 Total and Weekly Staking Actions

🟢 Net volume of Validators

🟢 Weekly Traders Count and Trade transactions

🟢 Weekly Top 3 Pools

🟢 Weekly NFT Traders and Sales count and Volume

🟢 Weekly Top 3 NFT Projects By Volume

🗒Some Notes

This analysis is rendered by using flipsidecrypto database and application, submitting for Metrics DAO bounty program

Defining Concepts and Criterions

🔵 User profile is categorized into 4 arbitrary characteristics:

• Low Profile: Lower than 10 Transactions
• Medium Profile: Lower than 100 and more than 10
• High Profile: Lower than 1000 and more than 100
• Expert: Higher than 1000

🔵 I consider the time difference between start of a block and start on next block as Block Time

🔵Active Users are those wallets with at least 5 transactions since the genesis block

🔵 Only successful transactions are taken into account

🔵 This analysis has been made based on Terra blockchain records from the beginning of new Fork. You can change the number of days you are interested to see the information from Top Box.

In this case, you’ll only see your desired period and any given insight in this dashboard might get irrelevant.

💡💻 Data & Analysis

🔶 Pre-Crash Terra had ~ 4 Million wallets while Post-Crash Terra 2.0 has only seen ~ 200k Users so far.

🔶 There are 2 major spike area:

• Initiation of the new chain which started with phase 1 of LUNA airdrop and naturally, being close to crash, there were still a high level of engagement and dropping Luna on Market to make up for losses.
• September 4th to September 10th which was the starting days of phase 2 Luna airdrop claim. while the claimed token are vested and have at least 6 month cliff, I believe the very fact of calling people to start interacting with chain had led to 5 days of hyper activity and back to normal immediately

🔷 More than 95% of Terra 2.0 users have lower than 10 transactions

🔷 More than 56% of Terra 2.0 users have only 1 transaction

🔷 The ratio of New to Active Users are interesting and acceptable; Combining with Normalized chart we can say that Terra 2.0 not only managed to attract new users continuously, but also managed to turn them into active users.

🔷 It doesn’t seem that FTX incident had any effect on new and active users of Terra 2.0 blockchain

⬅️Press the Play Button

🟪 LUNA by far is the most popular token to interact with on Terra 2.0 chain.

🟪 Other popular tokens are axlUSDC, axlUSDT and USK which all are stablecoins.

🟪 Due to lack of reliable price feed for terra database, I only took their amount into account, not the respective USD value. That’s why there are some cases which another token took the place of LUNA.

🟡 Weekly Total and Average fee are related to transactions count and increase when network gets crowder

🟡 Block times are not much volatile to make possible any significant insight

🟡 TPS increases when transactions and activity rises

🟡 Terra has the lowest weekly average transactions per block

✅ Validators

🔴 After launch of new LUNA token, users started to redelegate their tokens to their preferred validator. That’s why high volume bars of staking belongs to redelegation close to genesis block.

🔴 As time passes more users start to delegate but the volume is far less; which is a sign of regular user activity.

🔴 Validators with negative net volume are those who have started with airdropped LUNA and lost them through undelegation and redelegation of original owners

〽️ Trades & NFTs

🟤 Astroport and Terraswap are the only DEX platforms on Terra ATM. Also there is pool for LUNA on Osmosis lab

🟤 Astroport is more popular than terraswap and USDC is the popular pair for LUNA in both DEXs

🟤 VKR & ASTRO are the only Non-Stablecoin popular pair for LUNA

🟤 There seems to be a mild uptrend in weekly sale volume of NFTs

🟤 NFT sellers have always been more than NFT buyers (This can be the opposite when we are in bull NFT market)