Stargate is a Cross-chain liquidity protocol for EVM chains, allowing cross-chain composability while using liquidity across multiple networks and L2s. As a Liquidity layer for a cross-chain DEX, liquidity is vital. In this dashboard, we will look at users who are newly providing Liquidity to Stargate, which is an indicator of growth of the Protocol.

We will use ethereum_core.fact_event_logs table, which aggregated event logs emitted from transactions. As an LP in Stargate, you can stake your LP tokens to get StarGate tokens. When an user stakes LP, the LP staking contract of Stargate 0xB0D502E938ed5f4df2E681fE6E419ff29631d62b emits a Deposit event, which carries information on the pool and user involved and the amount deposited.

From this, we can aggregate by user to find a given users first deposit. Then we can for each day find the number of first deposits to find the number of users in a given day.

From the graph we can see :

• Initially number of users were higher
• The number of new users on a daily basis has been declining.
• This trend is akin to most protocols that have LP farming rewards, being early has increased incentives and as time passes, these incentives diminish and make it less attractive to enter.

Plotting the cumulative user growth:

• We see, increased growth during the first week, indicated by the higher slope of the area curve
• As the weeks progress, the slope has diminished considerably, indicating that the growth has slowed down significantly and less number of users are staking their LPs.