Introduction

• In this Dashboard, you will read about the Hubble protocol. I went through Hubble and analyzed these parameters:
• New Users
• Active Users
• Burn and Mint
• Swaps from USDH
• Swaps to USDH
• Top swapped token

Analyzed by Hess - Reading Time Almost 10 Min.

Method

• I used the transaction table and looked for the Hubble program id which is HubbLeXBb7qyLHt3x7gvYaRrxQmmgExb7fCJgDqFuB6T. Then I selected signers[0] as users.
• With the Min function, I extracted unique users.

min(block_timestamp::date) as date, SIGNERS[0]::string as user

• For Active users, I extracted wallets that had more than 10 transactions since January 2022. Then, Counted their daily activities.
• In the end, I used the Fact swap table and examined swaps from and to Hubble stable coin called USDH.

A Summary of the most important Findings

• The total number of new users and active users decreased since February 2022. From 90-100, weekly new users reached 25-30 New users. Also, Active users from 600-700 wallets to 150-200 wallets.
• Hubble has almost 13K active wallets.
• The share of Burn increased at the beginning of May but after that decreased again.
• More users swapped their tokens to USDH in comparison to swaps from USDH.
• Users swapped their USD coins to and from USDH most.

Conclusion

• The bear market impacted the Hubble protocol. It is true that numbers are not bad for a project with an age under a year. But the growth continues slowly. USDH can be a popular stablecoin on Solana. Users swapped their USD to USDH most. It means they changed their stablecoins. However, the swaps from USDH was similar. We need more time to talk correctly about this project.
• Overall, The Hubble users will increased fast in the next couple months.

Full Analysis

New Users and Active Users

I counted users’ transactions on Hubble and for those users who had more than 10 transactions, I called active users. The total number of new users and active users decreased over time. The highest number of active and new users was between February and March but after that decreased. The highest number of new users joined the bubble on January 31. The total new users from 150-250 weekly reached 30-50. Also, The total active users from 500-600 weekly reached 150-200.

• New users and active users made 442K transactions with Hubble program id. The highest number of transaction were on June which was 199K transactions . The weekly number of transactions were 1300-2300 in the last month.

Mint and Burn

• The highest number of mint transaction happened at the first week of Hubble. Almost the total number of mints were 3.1k. The Burn rate increased only in 3-4 weeks in the last 9 months. From April 29 until May 9 and from May 23 until June 13, The share of burn transactions increased up to 57%.

USDH Swaps

• Overall, The total number of swappers to USDH was higher than From USDH. More users swapped their assets to USDH. The total number of swappers from and to USDH increased together. When the total number of swappers to USDH increased, From USDH increased too. The highest number of swappers was in April. In one week, 833 wallets swapped their tokens to USDH and 654 users swapped their USDH for another token.

• As you can see transactions were different with swappers. About 94% of the transaction were swapped to USDH and only 5.17% was swapped from USDH. The highest percentage of transactions shares to USDH was 99.2% and the lowest was on September 26 which was 60%. However, most of the weeks, The share of Swaps to USDH was higher than from USDH.

• We already examined swappers and swap transactions and understood that the total number of swaps to USDH had a huge difference from swaps from USDH. But Swappers were similar to each other. Let’s see the volume of the swap. Overall, The swaps volume to USDH and From USDH was similar to each other. Users swapped out 48M US dollars to USDH and swapped 46M US dollars from USDH.

• USD coin was a popular pair for USDH. The highest number of swappers and volume swapped from USD to USDH and USDH to USD coins.

THANK YOU FOR READING!

ALL CODES AND CONTETNS WERE WRITTEN BY HESS.

:bird: Twitter: @hessaminanloo

:t-rex: Discord: hess#0890

:calendar: Analyze Date: 2022/OCT/11