[Osmosis] - Daily Active User
Bounty Question
> What does a Daily Active User look like on Osmosis? First, plot out how many DAUs there are on Osmosis. For this exercise, consider a DAU would be any wallet transacting on Osmosis a majority of days every week. Once you have the DAUs, what does their activity look like? Do they LP more or swap more? How often do they transfer tokens into Osmosis? Where are these transfers coming from?
Methodology
The approach I took to reach daily active users is as follows:
> * First, I got the total number of full weeks and the total number of days (except the current day). > * Then, I checked that each address had at least one transaction on some days of each week. > * Next, to filter daily active users, the weeks in which each user had at least one transaction in 5 or more days were separated. > * Then, the number of active weeks of each user was counted. This number of active weeks was divided by the total number of full weeks and then multiplied by 100 to obtain the percentage of active weeks compared to the total number of full weeks. > * Next, the number of active days of each user was obtained and the percentage of their active days was also calculated. Additionally, along with all of this, the total number of transactions per user during these active weeks was also calculated. > * At the end, all these data were put together. Users were ranked according to: percentage of active weeks, percentage of active days, number of active weeks, number of active days and number of transactions. Finally, in order to filter really active users, an important condition was placed. That only active users were considered who had active weeks equal to half or more than half of the total weeks.
What is a DAU?
Daily Active Users, or DAU, is the measurement of the number of users who are active on an app or website each day. It is a tool used to measure the success of an online product or website. The higher the DAU, the more “sticky” or successful a website or product is viewed. In order to calculate a DAU, a business must determine the definition of a user and the definition of an action.
How DAU works
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1. It counts relevant users
Daily Active Users are what they sound like: the number of daily unique users on a website. Users are defined as a visitor to a website or a user who has downloaded and accessed an app. In order to be considered active, the user must take action on the website or application. They must go beyond simply glancing at a website. But, the actual definition of interaction is defined differently by each company. Let's take a gaming website for example. The user would have to actually play the game to be considered active. This definition would be different on a social media site.
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It measures success...sort of
Many businesses see DAU as a measurement of success. A product or website is considered "sticky" if a high number of users choose to interact with the product on a daily basis. The difficulty with DAU is that it is calculated differently by each company internally. A slight variation in what a company considers an active user, changes the results drastically. Some warn that DAU is not always indicative of a healthy or successful company or product.
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It is used in other calculations
DAU is used to calculate MAU -- or monthly active users. This number is also used to show a company's growth or popularity. MAU will also fluctuate greatly depending on a company's definition of DAU.
Why DAU matters
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Its a popular metric
DAU is a popular metric used by technology experts and investors to measure both the popularity and the potential for growth of an online platform or app. In other words, how many users find the website or app useful enough to access it everyday? That is what DAU measures.
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Its useful in context
Taken at a single point, DAU can be misleading. As we discussed above, a company's definition has a lot to do with the numerical value of DAU. Measuring the change in DAU can be a lot more revealing. If a DAU is continually increasing at a fast rate, that is an indication the app or website is gaining popularity and success.
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Its one metric of many
DAU is an important component in a company's arsenal of metrics. But it cannot be the only one. If a company focuses just on DAU, but fails to notice other signs of doom, they could go down seemingly without warning. It is important for a company to keep an eye on new subscribers, in app purchases, reviews and more -- anything that could indicate a problem. DAU, taken with these other metrics, can help a company keep tabs on their success or need for change.
Daily Active Users
- According to the conditions considered to obtain daily active users, 3422 active users were identified. The following address corresponds to the most loyal and active user who has been active in the Osmosis for the past 485 days:
> osmo1tew2mp3racvkcye5qj5vyyqf22sgr6zefwcaln
> > 1. On 99.177% of the days it has at least one transaction. > 2. Has transacted on 5 or more days in all weeks. (100% of weeks) > 3. It had an average of 14.07 transactions per day.
- To further investigate these active users, more detailed investigations were conducted on them, which you can see below:
Active weeks, Active days and Transactions
The above reviews show that:
> * 44.6% of all active users were active in 50-60% of all weeks. These users are at least 1.77 times the number of users in any of the other categories.
> * Among the 3422 identified active users, there are only 244 users who were active in 90-100% of the total weeks.
> * The number of users who were active on 60-70% of the days is very close to the number of users who were active on 50-60% of the days. (1110 vs. 1072). These two categories account for more than 63% of the total daily active users.
> * Among 3422, only 4.24% were active in more than 90% of days. These 145 users can be considered the most loyal and active users of the Osmosis.
> * More than 56.5% of all daily active users have made between 1k - 2.5k transactions in their active weeks.
> * The following address is related to the user who managed to be in the list of daily active users with the least number of transactions: > > osmo1lxvsf7sz5eexcq2gqxs06gtwljxzdqk879e9qp
> * The owner of this address, in 249 days of activity and 34 active weeks, was able to be at the end of the list of 3422 with only 239 transactions.
> * The following address is related to the user who was able to be in the list of daily active users with the highest number of transactions: > > osmo19pjtx7dah2fquf7udyxjv94h0eraha78ddzwlm
> * The owner of this address with 466 active days and 65 active weeks, with more than 1.8m transactions, is on the top of the list of the top active users in terms of the number of transactions in active weeks. He averaged 3.864k transactions per day and 27.7k transactions per week!
Actions Comparision
> * 99.3% of all active users have done at least one ==swap== every day. > * 99.3% of all active users have done at least one ==Liquidity Providing== every day. > * 95.9% of all daily active users have performed at least one ==transfer== . > * 94.5% of all active daily users have done at least one ==staking==.
But the number of each of these four actions is interesting:
> * 3.282m ==swaps== have been done by these active users. On average, about 966 swaps per user > * 2.423m ==Liquidity Providing==have been made by these active users. On average, about 738 transfers per user > * 1.346m ==transfer== have been made by these active users. On average, about 396 Liquidity Provisions per user > * 0.633m ==staking== has been done by these active users. On average, about 196 transfers per user
Actions Daily Comparision
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Swap, LP and transfer actions have charts with similar trends both in terms of the number of daily actions and the number of daily active users. All three actions have spent their best days at the beginning of 2021 until August.
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February can be considered the peak of all three of these actions. In this month, out of daily active users, more than 2.1k active users were doing swaps. Over 1.8k active users were doing transfers and over 1.3k active users were doing LP.
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The status of the staking chart is different from the other three. Here we can see an upward trend with a low slope that does not fluctuate much. The brightest periods for active users who have staked are the first two months of 2022 and June. Between 700 and 800 active users have been actively staking in these two periods.
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Chart staking is more interesting from the point of view of the number of stakes. In the months of May, June and October, respectively, we see a significant growth in the number of stakes.
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Reaching the limit of 3.8k stakings in one day was achieved in October. While in the previous months, the highest daily stake was in June (with more than 2.6k stakings).
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Swap has the highest number of daily active users and the number of daily actions.
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The highest number of daily active users is on March 21, when 2372 daily active users have swapped in one day. (about 70% of daily active users)
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The highest number of actions in one day is related to May 12, when 31.737k swaps were done in one day. This number of swaps was done by 2.04k daily active users. It means that each active user has done 15.5 swaps on average.
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The overall survey chart of the number of active users and the number of actions also shows how much these two are dependent on each other, and except for a series of special days, such as May 11, almost all important increases and decreases in the charts occurred simultaneously. This shows that the set of daily active users adopt the same behavior towards these actions and do not spend their time and money on a specific case.
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In the graph of the average number of actions per user, LP Actions has the upper hand and in a significant majority of days, it ranks first from the point of view of this parameter. It is interesting that the examined daily trend and the peak days of early 2022 are repeated with almost constant intensity regarding this parameter for LP Actions, but for swaps and transfers, this peak can be seen to widen.
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Cumulative charts and better than that, Animated Time Series Bar charts show well how the growth trend of the number of each action has been. From the alternating movement of the number of LP Actions and swaps to the halves of this 485-day interval and then creating the main intervals between the actions.
Hours of Day | Days of Week
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The charts above are interesting charts. These two sets of graphs show that daily active users do their transactions in each field at what hours of the day and on what days of the week.
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As a result, the graphs of the hours of the day for all 4 investigated actions are very similar. 17:00 and 18:00 UTC are the busiest hours for transactions by DAUs. On the other hand, 4:00 and 5:00 UTC time are the least traffic hours for transactions by DAUs. The interesting thing here is that the number of transactions suddenly increases at 17:00 (compared to 16:00). It would be very interesting if we could know which part of the world has the most transactions. which has resulted in these differences. It seems that the discussion is about the time of waking up or sleeping in one of the densely populated countries.
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Regarding the days of the week, the results are slightly different. Specifically, on weekends, the number of transactions experiences a noticeable drop.
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The busiest day for transactions of these 4 actions is Tuesday.
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Another noteworthy point is that there is not much difference between the number of transactions performed on the days of the week, and for this reason, the size of these circles is almost at the same level in all charts.
Conclusion
> According to my definition of daily active users, there have been 3.422k daily active users on the Osmosis so far.
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> A limited number of these users have transacted in Osmosis in more than 90% of days and weeks. (less than 0.04%)
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> The user with the following address has been the most loyal and active user of the entire Osmosis to date:
> ==osmo1tew2mp3racvkcye5qj5vyyqf22sgr6zefwcaln
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> A relatively equal number of daily active users have performed the 4 investigated actions (swap, LP, transfer and staking). But in the discussion of the number of each of these actions, there is an absolute superiority with swaps, and staking ranks last.
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> The first months of 2022, bright days of swaps, LPs and transfers by daily active users
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> Close relationship between the number of users and the number of actions
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> The superiority of swaps in several parameters (the highest number of daily actions, the highest number of daily active users, etc.)
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> 17:00 and 18:00, the busiest hours for transactions by DAUs
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> Tuesdays are the busiest day for transactions by DAUs
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> There are 7 common addresses between the top source and destination of DAUs transfers
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> ATOM is the most popular token of daily active users
Transfer Activity
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3.422k daily active users can be both the source and destination of a transfer. What was reviewed above and about the transfers, were the transfers that were sent by active users on a daily basis.
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Here are the top 10 destination and source addresses for DAUs transfers, the addresses that DAUs transferred to and from, respectively.
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The following address has transferred token DAUs more than 12k times: juno1yz54ncxj9csp7un3xled03q6thrrhy9cuzxzn7 This number is at least 1.388 times more than any other address. This address is the second best receiver of tokens transferred from DAUs.
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The following 7 addresses are among the top destinations and origins:
> > 1. cosmos1la6fjpswr9y37r7krn9hce2zjme0u23pyjxty0 > 2. cosmos13y4wr2skln0frfe03a7wh80875amsetan8q6wh > 3. juno1jecj929qfymtggz20v7eh5nv9n7fgw4nyguppv > 4. juno1yz54ncxj9csp7un3xled03q6thrrhy9cuzxzn7 > 5. ki1jpr74hn9el77t6p75xawr73hc4l5luxc4yfktv > 6. ki1zgq0d9k2zatezqf05x6vc4etpk6ja9zw8plctu > 7. terra1zqg6s2fxfreq06pep4h9uz88my394sgxwmhepj
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Among the top 10 tokens transferred to DAUs (in terms of number of transfers), uatom, ujuno, uhuahua and aevmos tokens are ranked first to fourth. The distance between these first 4 tokens and the other 6 tokens is at least 70k transfers. The above 4 tokens are somehow in the 100k club.
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But among the 10 tokens that DAUs have transferred themselves, the first place is still held by ATOM. The second and third place is held by JUNO and STARS, respectively. But here there is a difference of 151k transfers between the first and second places. In this section, the 100k clubs have only two members: ATOM and JUNO