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Q11. Calculate the deposit rate of wETH over time on Osmosis. How does this compare to SushiSwap and Thorchain now? How does the wETH deposit rate compare to when wETH was a relatively new asset (or the protocol was relatively new)? Is Osmosis growing at a faster rate than Thorchain and Sushiswap?
Introduction
Osmosis is an automated market maker (AMM) built with the Cosmos SDK; it specializes in the InterchainDeFi movement (Tendermint-based blockchains) in the Cosmos ecosystem. In other words, Osmosis is a decentralized exchange specifically built for Cosmos, with plans to expand to more blockchains.
Think of Cosmos as the sandbox, and Osmosis as something that can connect all the various dApps. As a DEX, Osmosis nurtures a heterogeneous and interoperable cross-chain trading experience.
Procedure
- Number of wETH deposits on Osmosis
- volume of wETH deposits on Osmosis
- number of wETH deposits on three platform
- volume of wETH deposits on three platform
The amount of wETH deposits on Osmosis is seen in the graphic above in comparison to SushiSwap and Thorchain. We can observe that when SushiSwap was a new platform, its volume was far higher than Osmosis; and after that, the competition between these platforms is really near to each other.
The number of deposits on Osmosis is seen in the graphic above in comparison to SushiSwap and Thorchain. We can observe that Osmosis has far more deposits than SushiSwap had when SushiSwap was a brand-new platform. When Thorchain was a brand-new platform, it also had more than a number of deposits.
The timeline of wETH deposits to Osmosis is shown in the graph above. The largest volume of wETH was submitted to Osmosis on May 25, 2022; and again, the start of this uptrend was on 12th May with depositing more wETH as we see on the previous chart.
In the above chart, we can see a significant increase in deposits on Osmosis in March 2022. and 12th May is the start of an uptrend in this chart.
To Sum Up
When the Thorchain and Sushiswap wETH pools were first launched, the deposit rate was high and it eventually achieved the greatest amount, but Osmosis' pool did not get a significant quantity of deposits for over three months.
In comparison to Thorchain and Osmosis, the Sushiswap had much more wETH deposited. However, the wETH deposit trend for Sushiswap was typically declining, but it was climbing for Thorchain and Osmosis.