Only successful burns are included for all the calculations.

Although most burns are instant, large bLuna burns are usually done the long way. Addresses that do both instant and normal burns are usually "richer" than the addresses that only opt for one method. These addresses are also more active in the terra ecosystem.

The graph below shows the average number of transactions for the types of burns. It seems that the addresses which executes both instant burns and normal burns are much more active in the terra ecosystem, while normal burn only are the least active.

The graph below shows the average burn amount for instant burns, normal burns, and both types of burns. It can be seen that the average burn amount for normal burns are usually higher than instant burns. This may be caused by the transaction fee and slippage when dealing with terraswap. A high burn amount normally means that the slippage is high and the benefits of waiting 21 days far outweighs the advantages of instant burns.

The graph below shows the latest average balance in USD of the addresses that had initiated bLuna burns. By observation, addresses which burns both instantly and normally have much higher balances than instant burns and normal burns.

The graph below shows the total amount of bLUNA burned using instant burn and normal burn. From the graph, it can be seen that most burns occur on Anchor are instant.

The average burn amount is calculated by averaging the send:amount param.

Conclusion

Analysis

The average number of transactions is calculated by getting all distinct addresses from instant burns and normal burns, then the number of transactions is obtained by counting the number of distinct tx_id in terra.msgs, grouped by address, finally the numbers are averaged, grouped by description (for example INSTANT BURN) only.

The average balance is calculated by getting all distinct addresses from instant burns and normal burns, then the latest balance of the addresses are obtained before averaging.

Normal burns are calculated by summing up the amount when the contract is 'terra1kc87mu460fwkqte29rquh4hc20m54fxwtsx7gp', which is the bLuna token, and the send:contract is 'terra1mtwph2juhj0rvjz7dy92gvl6xvukaxu8rfv8ts', which is the smart contract for bLuna, and when send:msg:unbond is not null, as this is the msg for normal burns.

Instant burns are calculated by summing up the amount when the contract is 'terra1kc87mu460fwkqte29rquh4hc20m54fxwtsx7gp', which is the bLuna token, and the send:contract is 'terra1jxazgm67et0ce260kvrpfv50acuushpjsz2y0p', which is terraswap bluna-luna pair.

Calculation Methodology