Try Quests to earn cryptoANALYSIS
The average transactions per user has increased from starting period till today, from 2 daily transactions per user to above 10. Then we can conclude saying, that the active user are turning into more active user & doing more activities on the network .
Unique wallet is being added everyday consistently though not very large in size but a certain one. cumulative unique wallet graph is a gentle slope showing an increasing trend throughout which means terra is able to attract unique wallets to its network .
ANALYSIS
we can also divide the users on the basis of number of transactions . we observe that there are more users ,36.2% ,who are doing just 1 transactions . 26% users are doing 2 transactions. 11.75 users are doing 3 transactions more very few user are engaged in more transactions . This shows lack of interest of users in trading activity . the users though active are just engaged in 1 or 2 transactions . Various incentives should be introduced to attract users to do activities on Terra .
The users are further categorized into profiles .
when transactions_count < 10 then 'down Profile'
when transactions_count >= 10 and transactions_count < 100 then 'Medium Profile'
when transactions_count >= 100 and transactions_count < 1000 then 'up Profile'
when transactions_count >= 1000 then 'top Profile'
maximum users are under the category of down profile 46k users are doing just less than 10 transactions
All these data’s are for last 90 days assuming users are doing 3 transactions in 90 days on the basis of 1 transaction in a month .
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QUESTION
The question of “active wallets” faces every ecosystem. Let’s investigate this question for Terra — and go beyond the “one transaction in 30 days” approach!
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Define what an active, high quality user looks like and how it can be measured. Assess how many active users exist on Terra, according to your definition. Additionally, provide a few brief, specific ideas to attract additional users, as well as an assessment of what it would cost to implement these ideas.
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What is the acquisition cost for a high-value user, according to your recommendations?
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METHOD
In this dashboard we have discussed about the user count in Terra . We have also analysed topics like active user , active user definition & the user breakdown & distribution of user on various criteria. As per question we have assumed active user to be one who is active at least once in a month we have analysed on the basis of 3 times in 90 days . We have assumed here that all transactions carried out are successful . Mostly all the charts are based on table from flipside - terra.core.fact_transactions
INTRODUCTION
With an advancement & growth of Crypto World everyone is looking for the performance & activities on a network .People want to measure the risk involved in investment in each blockchain ,Terra being no exception.
The most important metric for a new blockchain investment is number of users .It is an investor’s secret weapon.
Active Users acts as an X-RAY MACHINE to analyse the the performance of a chain .
Here "active users" doesn’t count people who simply log in and interact with other users on a metaverse platform or drop in briefly for an event.
An active user, is defined as a unique wallet address interaction with the platform’s smart contract .With reference to this question , active user is one who has transacted once in 30 days.
The more users on a blockchain, the more developers. The more developers, the more apps. The more apps, the more users. And so on, in a virtuous circle.
ANALYSIS
Here we have analysed wallets on the basis of transaction assuming user is active at least 1 time in 30 days( last ). We have divided the transaction count on the basis of different categories .
Category a has users doing less than 1 transactions -3736 users with 10.9% share
Category b has users doing 2-10 transactions-16.47k users with 48% share
Category c has users doing 11-50 transactions -10.32k users with 30.1% share
Category d has users doing 51-100 transactions -1940 users with 5.65% share
Category e has users doing 101-500 transactions - 1559 users with 4.54%
Category f has users doing 501-1000 transactions-207 users with .603% share
Category g has users doing 1001- 5000 transactions- 27 users with .0787% share
Ctegory h has users doing 5000+ transactions -42 users with .122% share
when we combine a,b & c categories we see 88% of the users are involved in less than 50 transactions in a month . maximum users are under b category doing 2-10 transactions .
when we further divide wallets on the basis of active months we can see that the initial stage was bullish Initial 2 months had more users & with time the count started falling . Terra was unsuccessful in retaining users . there were users who were inactive for long period doing no new activities . The ecosystem has no attractive & lucrative schemes for creating pressure on the users for staying in the network & engage actively.
ANALYSIS
Users have a varied role they are not only involved in trading activities but the are also involved in other activities like swapping Nft trading, staking voting & also engaged in LP actions . Here we will see users as Nft traders , swappers , voters & lp”ers . The top 2 charts stats are on the assumption of 3 transactions in 90 days We can observe most of the users are swappers . 83.7% about 103k in count LP actions 14% with more than 17k . voters are only 1.65% with 2036 count & NFT traders are 0.652% 806 in number . The below chart with blue colour is showing data’s for 1 month .Active users doing at least 1 transaction in a month here 85% users are swappers 13.3% LP action voting 1.45% Nft traders are only 0.259 %
ANALYSIS
We have analysed the wallets on daily weekly & monthly basis for a better vision . Addition of new wallets here is related to new users
This analysis states that the user count in May 2022, end was highest but it reduced with time in August & September. then again we can see a downfall in the trend with passing time, there were small ups & downs in a consistent way . We can see small spikes in November 2022 again bbut was much smaller than the initial spike of September . We can see that new users are seen regularly on the Terra network which is a good sign again .
We can see more of active users in new year which is a good sign as an economy will grow only if its users are active & transacting at least once in a month , then they are considered as active users. In case of terra we can see its new users count & active user count both are increasing .
Comparison of new user to active user indicates that terra has been successful not only in drawing new users to its network but also keeping them active throughout .
ANALYSIS
we can divide Terra on the basis of label . We see that okx is the most popular type with 96.9% share others being ftx at 2.43 Newton at .463 % & ampluna & astroport both being .116% with minimum share.
Among top 20 wallets the wallet with highest transaction count, 162K, is terra1m4hq3r4xacwam3zk40kh0892gwlfzdpcxafd7u
SUGGESTIONS & OPINIONS
To enhance the overall health of Terra ecosystem & for attracting active users there is a need for various development programmes .We need good developers for building strong community for which grants and revenue earning programmes should be discussed & initialized. Various incentive programmes for developers should be launched .
We can see Nft is catching market these days ,various reward programmes should be started for buyers holding & buying Nft’s.
Stakers should be rewarded for staking their share ,so that more & more user step in & become staker.
Terra can also give attention on development by getting engaged in more DeFi programs launching new ones & taking care of the older ones . More liquidity pools should be created .Usage of UST and the rise in price of LUNA attracted a lot of new users to the ecosystem.
Terra has to win trust of users More focus should be on converting users( Old & new) to active users . Terra should follow Expedition programme If all the users show keen interest in the network then in no time we can regain its original heights . For development we need funds which should be raised from the ecosystem itself & also from outside sources .
Acquisition cost is again a contradictory topic as it depends on many factors like scope ,future prospects , & scale in which initiative & attempts are taken . No cost is high if results are fruitful .
CONCLUSION
After analysing the dashboard we can conclude that active users analysis are like ==x -ray for investors== . Its proper analysis is a must so that investors can calculate the risk in investing their asset . A healthy ecosystem is one in which everything happens smoothly & ,simultaneously on its own. Onboarding of new user on its own is a natural phenomenon & if the network is healthy no extra efforts are needed. No acquisition cost is to be paid in a healthy ecosystem .
Terra needs engagement of users in its daily activities for a promising network .
