Try Quests to earn NEARSweat Welcome NEAR Wallet Analysis
Exploring one of the most active NEAR wallets
Background
In one of our earlier works in the NEAR ecosystem, a couple of us chance upon this peculiar wallet sending a set amount of NEAR to accounts with no transactions performed (see photo on the right).
The account was sending 0.05 near to a new wallet every other second.
sweat_welcome.near, along with other oracle wallets, were the top distributors of NEAR in terms of the number of unique wallets it has sent NEAR to (see table below).
This wallet was created in Jan 2022 and had made million distinct wallets thus far, clocking as one of the most active wallets on NEAR.
This wallet was presumably linked with the sweat economy and Sweatcoin. Sweatcoin has been around for ages. This project was definitely the OG “walk2earn” concept. Sweatcoin also announced partnered with NEAR recently. They are also slated to launch their new wallet in Mid-September 2022.
In this dashboard, I will dive in deeper to explore the following:
How many transactions have this wallet performed?
How many unique wallets received NEAR from sweat_welcome?
How much NEAR was dispersed so far?
Let’s explore how much NEAR and transactions count has this wallet (sweat_welcome.near) initiated in terms of NEAR transfers. We will use the fact_transfers table to find the movement of NEAR
How much NEAR was dispersed over time?
At the time of analysis, 0.69M NEAR were transferred from sweat_welcome.near.
- Pre-April, there were few transactions but large movements of NEAR transfers
- After April, the transaction counts and unique receivers were nearly the same. The volume of NEAR sent correlated closely with transaction count.
From the charts, we can also see that the majority of transaction activity started at the end of April 2022.
At its height, there were 697k unique receivers, with 34.88k NEAR sent. This number has tapered down to 40-50k since then.
How much NEAR was sent per transaction?
- Large volume transfers: this transfer seems to be funding specific Oracle wallets
- Between Feb to early April, the median-max-min amount of transfers dropped from 0.1 to 0.05
- There was a decline in tx count from 13th April to 2nd May, with high volume transfers
- From May onwards, the min-median-max amount of NEAR transferred was 0.05.
From the chart and table above, the sweat_oracle_n.near (where n= 0-9) were the top receivers of NEAR, getting ~12k NEAR over a series of transfers from sweat_welcome.near . ==The next highest receivers only obtained < 1 NEAR.==
Who got most of the NEAR?
Accounts (11.1M wallets) funded with only 0.05 NEAR received bulked of the NEAR sent.
Only 16.7k wallets were funded with 0.1 NEAR.
The wallets funded with 12k NEAR were the sweat_oracles - in total, they received 108k + 12k NEAR
Where do the receivers send their NEAR to?
Here we split the receivers into those who received > 0.05 NEAR and those who received exactly 0.05 NEAR (bulk of wallets). We then explore what they do with the NEAR.
At the time of the analysis, none of the 0.05 NEAR recipients transferred out the NEAR they received.
It appears that only 71 of all the wallets that received > 0.05 NEAR transferred their NEAR.
How many NEAR and users did they transfer to?
Here we see that the Sweat Oracles appear to be doing the same thing as the main sweat_welcome.near wallet, sending out 0.05 NEAR to a large number of users (see table below).
The rest of the wallets transfers to ~1 other user varying amounts of NEAR.
Sweat Coin recently launched its personalized wallet on top of their existing step tracking app. Left (Sweat Wallet) and the top screenshot is taken from Sweat Economy on wallet metrics on 5th Sep 2022 @
Since Sweatcoin has moved to NEAR - with the launch of its new wallet and TGE, this points to the possibility that the new sweat economy wallets are funded dust amount of NEAR for future transactions by these wallets (oracle + sweat_welcome).
If we work out the math…
Of the 11M unique receivers (from sweat_welcome) and 200k x 10 (sweat_oracle wallets) = we get around 13 million wallets as well, matching the total wallets created listed on Sweat Economy’s website.The wallet is anticipated to go live soon - will be interesting to watch what happens as this influx of users onboard to NEAR!
