Try Quests to earn AXLOsmosis - 3. Matic on Deck
POLYGON
Polygon (MATIC), until now regarded as MATIC network, is an interoperability layer-2 scale answer for Ethereum-compatible blockchains. Polygon’s native cryptocurrency, MATIC, is used for governance, staking and fuel fees. \n \n Polygon used to be developed to tackle Ethereum’s limitations, along with throughput, transaction speed, and lack of neighborhood governance. By design, Polygon is a platform constructed for launching interoperable blockchains. \n \n Polygon achieves this the use of Proof-of-Stake checkpoints constructed on the Ethereum mainchain and its More Viable Plasma, a variant of the Plasma Network.
QUESTION
Track the flow of Matic to Osmosis. Where is this MATIC coming from? Did users remove this MATIC from specific protocols to bridge over to Osmosis?
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Additionally, analyze the change in daily/weekly bridged volume since incentives were turned on. Judge the success of the incentives in driving liquidity over to Osmosis. Are most users bridging MATIC new users or existing Osmosis power users?
ANALYSIS
Looking at the kind of TRADERS that are being sending MATIC to Osmosis, we can see how in the maximum major cases users are new users. Considering all transfers due to the fact inception, nearly 80% of them have been carried out by means of new Osmosis users whilst solely 20% via existing users. Something comparable happens with the quantity of MATIC transferred to Osmosis. The predominant of it has been despatched considering twentieth December after the incentives approval and due to the fact that then, the essential of lively receivers have been new users.
ANALYSIS
It is now not a frequent trader for Osmosis users, it appears that for the reason that the utility of the incentives there have been at least 5 transfers of MATIC to Osmosis in a every day basis. As well, the extent of volume is around stabilized to a new low of round 5k tokens. In this approach, we can see how in general, it is clear that incentives impacted heavily on the MATIC transfers to Osmosis, now not solely in the variety of transactions however additionally in the range of receivers and quantity transferred. Remember that as we stated earlier, the incentives had been utilized simply after the inspiration handed on December twentieth 2022. \n \n
INTRODCTION
Osmosis is a multi-chain DEX particularly constructed to feature with different blockchains in the Cosmos ecosystem. Communication with these different blockchains is accomplished by means of its Inter-Blockchain Communication protocol (IBC) [1]. MATIC, is one of the pinnacle cryptocurrencies on the market. In fact, it is presently the rank 10 cryptocurrency via marketcap with a valuation of round $8.2 Billion, sixteen instances greater than Osmosis. WMATIC is the wrapped model of this in a position to be used throughout Polygon Network DeFi. Moreover, after OSMO/WMATIC pool used to be added, every other proposal used to be carried out at the end of 2022 in which OSMO stakers voice their assist for bootstrapping WMATIC liquidity with the aid of manually allocating 0.5% of liquidity incentives to the OSMO/WMATIC pool (#789) [2]. This thought presents preliminary incentives on the twentieth December. Bootstrapping incentives point out that Osmosis stakers wished to shortly set up useful liquidity of WMATIC to facilitate buying and selling and liquidity float between Polygon and Osmosis by using the Axelar bridge. The majority of trade volume occurs on choice decentralised exchanges for WMATIC and centralised exchanges for MATIC, now not on Osmosis. \n For this reason, Osmosis created a concept as a strategic pastime in attracting extra liquidity of WMATIC and so will allow it to get entry to a increased proportion of liquidity incentives. \n \n \n .
ANALYSIS
In this part, we can see some user behaviour of Axelar wallets who are sending MATIC tokens to Osmosis. On the one hand, they are no longer solely sending MATIC to Osmosis. The foremost tokens they are sending to different chains are: USDC,ETH, MATIC .The primary chains in which they are sending tokens are: AXELAR , POLYGON & ETHEREUM. We can observe that top tokens are being despatched from these wallets, there is solely one who are receiving greater IBC transfers IN than OUT and its MATIC. \n It is clear that that we can compare the profile of these USERS as somewhat like a EVM-like user. \n \n
CONCLUSION
It is clear that incentives impacted heavily on the MATIC transfers to Osmosis, now not solely in the range of transactions however additionally in the variety of receivers and quantity transferred. \n Considering all transfers on the grounds that inception, about 80% of them have been accomplished via new Osmosis users whilst solely 20% by way of existing users. \n Regarding the identification of wallets who are sending MATIC to Osmosis, we can see how even some punctual wallets like Kujira, Cosmos and Comdex, the most important & major volume of the transfers come from Axelar network. \n On the one hand, they are now not solely sending MATIC to Osmosis. On the different hand, they are no longer sending tokens solely on Osmosis. \n The major tokens they are sending to different chains are USDC, ETH and MATIC.
The fundamental chains in which they are sending tokens are: Axelar, Polygon and Ethereum. \n It is clear that it appears that the profile of these customers is somewhat like a EVM-like user. \n The remaining observed we can examine is that from the topmost tokens being despatched from these wallets, there is solely one who are receiving extra IBC transfers IN than OUT and its MATIC.
As for the liquidity ACTIVITY of the #789 MATIC vs OSMO pool, we can notice the tremendous influence of the incentives. Yes, the major recreation is determined in the first week after the news, however, after falling to a sure level, the fee stays about at the identical stage at some stage in the relaxation of the period. It can additionally be mentioned that the extent of joined pool in USD exceeds the extent of pool exited (81.11% is share of joined,18.89% - of exited).
METHOD
THIS DASHBOARD IS CREATED TO ANALYSE INFLOW OF MATIC TO OSMOSIS ITS WHEREABOUTS FROM DIFFERENT SOURCES. FOR THIS WE HAVE DIVIDED THE DASHBOARD INTO VARIOUS SECTIONS & DISCUSS ABOUT AVERAGE VOLUME TRANSFERRED ,VOLUME TRANSFER FROM MATIC TO OSMOSIS . OBSERVE ACTIVE SENDER & RECEIVER OF THESE TRANSFER .WE HAVE OBSERVED THE USER BEHAVOIUR WHO IS SENDING MATIC TO OSMOSIS ,ACTIVITY OF USER ON MATIC BEFORE & AFTER RECEIVING INCENTIVES. WHAT KIND OF USER ARE KEEPING MATIC TO OSMOSIS & TRANSFER OF MATIC TO OSMOSIS
ANALYSIS
The main differentiation is in the quantity & volume of MATIC despatched to Osmosis, in which about one hundred percent comes from Axelar. On 98% of the receivers, it implies more. Regarding the identification of wallets who are sending MATIC to Osmosis, we can see how even some punctual wallets from Kujira, Cosmos and Comdex are behind Axelar as most of the transfers come from Axelar network. In fact, since the incentives, the most important major transfers of them come from there due to it incentives the transfers the usage of Axelar Sattelite bridge is increased \n \n
ANALYSIS
The most activity, & LP transaction volume, is discovered in the initial stage ,about 1-1.5 weeks after December 20th. Also, a bullish trend is seen in the volume of maximum can be viewed on January 2nd 3rd and 9th 2023 \n \n As for the jointed LP, considering that January 28, after the downfall, their number remains constant has remained about at the identical stage each day .It was observed that on JANUARY 1, the volume & count was maximum. As for number of liquidity providers, then maximum of the new liquidity accounts was seen for the first days after the news, then there are almost no new liquidity providers.t he effect was short lived but a major one . \n