Light as a Feather
Introduction
-
In this analysis, You will Read about New Terra Station Launch. As you may know, Terra Station is one tool that helped old Terra grow.
-
We want to know if the announcement of the Station has generated hype in the Terra community. Has this type translated to an increase in activity?
I went through the Terra Station launch and analyzed these parameters:
- Different Transactions
- Users
Analyzed by Hess - Reading Time Almost 10 Min.
Activities on Terra
The best way to show the impact of the new terra station launch is to put all activities into one chart and see which activities increased and which activities decreased. Remember, the New terra station launched on January 14.
- Among all activities, We know that transfers had the highest number of transactions compared to others. But Transfer activities increased after the Terra station launch? The short answer is No. When Terra station launched, The total daily number of swappers and swap activities increased more than others. The daily share of swap transactions increased by about 8% while others decreased because swap took their shares. Also, The total number of swappers became 2x higher than after the Terra launch. However, the total number of users increased in other parts, but Swap had higher growth.
Swap Activities
Based on the previous charts, I found Transfer, Swap, and Stake had the highest growth when the New Terra station launched. So, I took a close look at these activities separately. First, Let’s start with swap activities.
- I analyzed the total swaps to the $Luna token before and after the Terra station launch. As you can see, The total daily number of swaps and swap amount to Luna tokens increased. The total number of swappers to Luna tokens was 40-50 before launch but increased to 100 unique swappers per day after launch. However, it quickly backed below days before the Terra station launch.
- On the other hand, The total swap amount to Luna tokens increased unusually. The total daily swap amount to Luna was 10-300K before the Terra station launch but after that increased to 18M Luna. However, like the number of swappers decreased quickly.
Stake Activities
The other activity that increased after the Luna Terra station launch was staking. I separately analyzed Staking's growth before and after the Terra station launch in this section.
- New Terra station impacted Staking activities in a good way. The total daily number of stake transactions was 600-700 before Terra station, but after launch increased to more than 1K stake transactions. Unlike other activities, After a short time didn’t decrease and remained at the highest point.
- The only changes were stakers and stake transactions. The Stake volume of Luna didn’t change too much. The highest amount of Luna staked in days before the terra station launch. At the beginning of 2023, Users staked 2.6M Luna. A week before the new terra station launch, The total daily stake amount was below 100K, and after launch increased by 10-15%.
- The average staked amount before Terra launch was 274K, while after Launch decreased to 89K Luna.
Transfer activities
Almost the Transfer is the highest activity in every chain. On Luna chain is the same too.
- The total daily number of senders and receivers increased when the New Terra station launched. The average number of senders was 1.1K, and receivers were 1.8K before the Terra station launch and increased to 2.6K senders and 1.6K receivers after launch.
- Like the number of senders and receivers, The total daily number of transfer transactions also increased. The average number of transactions was 5.6K before the terra station launch and 9.5K after the launch. About 40% growth.
- The top destination was Cosmos users transferred their assets.
Conclusion
Updates are not always good for a chain. Sometimes impact the chain or native token price. The New Terra station launch had a good impact on the Terra chain. All activities increased, even the token price. As you can see, The daily volume of Luna tokens increased significantly.
- Staking, Swaps, and Transfers had the highest impact when Terra station launched. All parameters like transactions, Users, and volume increased most in these parameters.
![db_img](https://uploads.flipsidecrypto.com/product/images/8ti0Qm9W1RHd.jpeg)
What is Terra 2?
- Terra 2.0 (LUNA) is the newest iteration of cryptocurrency on the Terra blockchain. In May 2022, the Terra blockchain experienced a hard fork prompted by founder Do Kwon and voted on by the community. This created the new Terra 2.0, with a new cryptocurrency, dubbed LUNA or LUNA2
Source:
New Terra Station Launch:
-
Many of the prominent community members, including reXx pointed out that the interface of the Rebels Station looks similar to Terra Station. However, the group of developers explained that there is a notable difference in the Revel station reducing dependence on the Terraform Labs (TFL).
With this new wallet managed by the Terra community, there will be little or no downtime required to upgrade to new software versions because it won’t need to go through TFL anymore.
The new LUNC wallet is designed to enable Terra Classic users to hold and transfer their tokens. It also allows them to delegate holdings, participate in network governance and see vital metrics about the network.
Source:
![db_img](https://uploads.flipsidecrypto.com/product/images/anxm36rq1Yno.png)
Full Analysis
Method
-
The method was simple. There are multiple tables about Terra on Flipside. All I needed was to find the Terra station launch. I found the launch date on their Twitter. I used the case function and split my findings into three categories. Before Terra Station, Launch Day, and After Terra Station.
Case when date >= '2023-01-15' then 'After Terra Station' when date = '2023-01-14' then 'Launch Day' else 'Before Terra Station' end as type
-
After That, I used Transactions, NFT mint, and Sales, Swap, Governance, Liquidity, and … to find which activities were impacted by Terra Station Launch.
-
I analyzed These activities together and separately to understand changes better.
Transactions Overview
Before I dig into each category, I analyzed daily transactions and Terra station's impacts on Luna.
- As I mentioned before, Terra station launched on January 14 based on Twitter. As you can see, The total daily number of transactions increased significantly when New Terra Station launched. Obviously, it has a huge impact.
- Before the New Terra launch, The total daily number of transactions was 7K-15K. The total daily number o transactions increased by 50-60% compared to the days before the station launch. On launch day, About 18.9K transactions went through Terra 2. A day after that, The total number of transactions increased to 22.9K. However, After that decreased but still was higher than normal days.
- The average number of transactions was 8.8K before launch, on launch day was 18.9K, and 13.9K after station launch.
I used a scatter chart to see fee amount changes readable. Smaller circles mean lower fees, and bigger circles mean higher fees.
- During the Terra station launch and after that, The total daily fees in Luna increased significantly. The highest amount of fees was paid by users on January 15, a day after the Terra station launch. On that day, users paid 360 Luna while they paid below 200 Luna before the launch.
- The average fee per day before the New Terra station launch was 136 Luna, 279 Luna on launch day, and nearly 211 Luna after the launch. As you can see, The average paid fee increased by about 50% after the station launch.
Transactions: Almost all activities increased compared to days before the new terra station launch.
Transfers had the highest number of transactions. The average number of transfer transactions before the Terra station was 5.6K, while it was 9.5K after the terra station launch. Also, The average number of swappers was 870 before launch and 5K after launch. NFT mints, sales, and voting activities didn’t change before and after the terra station launch.
Users: Almost all activities had more users after the terra station launch. But NFT Minters, purchasers, and liquidity providers before the Terra station launch were higher than after the terra station launch. So, Based on the below results, I can say Staking, Swap, and Transfer activities had the highest impact when Terra station launched.
New users
So far, I have analyzed transactions and users before and after the Terra station launch. Obviously, the Terra station wallet is helpful for users to use the chain. So, I guess the number of new users increased when Terra station launched. Let’s find out.
- I divided all activities to find which one had more new users. As you can see in all parts, the number of new users increased significantly. Staking and Transfers had more new users and growth than other activities.
- Both Staking and Transfers users became 2x higher than days before the terra station launch. The third place was Swap. New swappers had a huge difference from Stake and Transfer users but were higher than other activities. NFTs had the lowest growth compared to others.
- The average number of transfer and stake users was 116 ad 79 before the launch, while it increased to 183 after the launch.
Transactions: The average number of swaps was 531 from Luna and 394 to Luna before the Terra station launch, and after launch increased to 1.6K from Luna and 1.3K to Luna token.
Amounts: The average swap amount was 835K from Luna and 421K to Luna before the Terra station launch, and after launch increased to 4.6M from Luna and 2.4M to Luna tokens.
The amount is based on LUNA.
Validators impact
I analyzed top validators before and after the Terra station launch. I want to know if there was any validator impacted most by the Terra station launch.
- Based on transactions, Top validators before the new terra station launch remained at the top of the list after the terra station launch.
- Based on Total staked amounts, Some validators changed.
- Capapult and Sara Kerrigan was among the top validators before the terra station launch, but they weren’t when Terra station launched. The only validator that remained on the top list was Smart Stake. Others changed before and After the terra station launch. Pokjachu, Lunc Dai, and Orbital command had the highest impact. When Terra station launched, These validators became on the top list.
ALL CODES AND CONTENTS WERE WRITTEN BY HESS.
![db_img](https://uploads.flipsidecrypto.com/product/images/1B9whdv25moV.png)