GAS & FEES ON THE BASIS OF CONTRACT CREATION

CONCLUSION

Contract deployment activity on Terra has slowed down in recent weeks compared to the first 3 months of lunch. Token contracts account for about 70% which mostly include pool tokens and some number of stables like axlUSDC and axlUSDT .

More contracts were being deployed earlier in the year although there are still a significant amount being deployed each and every week .It appears that a few contracts make up the majority of interactions by users.

The majority of contracts have less than 10 interactions, and as the number of interactions increases the number of contracts with that many interactions’ decrease .

August 1, sees huge spike in axlUSDC ID swap, swap count - same as Sep 9 axlUSDC.

The volume of axlUSDT IN swap amounted to only 1.1% over the past six months of the swap volume of stablecoins

Swap OUT of axlUSDC is also significantly higher than axlUSDT. There are sharp changes in the metric on certain days

For the last six months, both stablecoins have higher values of OUT swaps than swap IN

Regarding the contract names, Terra Poker has received the most transactions, and Valkyrie has been the most used by Terra users.

Most of the contracts belong to tokens, which are being the most used, followed by DeFi and DEX contracts

There are more stablecoins inflows than outflows.

On July 15, there is a big jump in the amount of gas and fee used when creating a contract

On September 9, there is a big jump in the amount of gas and fee used in the execution of the contract

Since mid-November, there has been a decrease in the average fee price for the execution of one contract

It appears that a few contracts make up the majority of interactions by users

Both axlusdc and axlusdt are being transferred in significant volume although axlusdc tends to be a decent amount larger

The majority of transfers for both axlusdc and axlusdt on a daily basis are going out.

axlusdc pools tend to be decently active receiving large amount of liquidity somewhat infrequently, a similar trend appears for axlusdt pools although they receive much less volume than that of axlusdc.There are more users depositing stablecoins in the ecosystem than withdrawing them. The most used stablecoin is axlUSDC with a difference towards axlUSDT.

axlUSDC is at an advantage with respect to axlUSDT regarding the volume.

INTRODUCTION

Terra 2.0, is the revamped version of Terra coin. The company CEO believes that validating all invalid blocks as well as transactions on the blockchain network will make the coin boom once again. This plan will be done via something called—a hard fork. A hard fork will ensure that Terra is not linked to the current Terra blockchain, instead will be linked to a new blockchain, then the Terra token can be switched to TerraClassic, the stablecoin by Terraform labs that are not algorithmically designed.

It should be noted that Terra-Luna coins are sister coins and to maintain the balance between them, users had to buy some Terra and then exchange it instead of Luna, for which they would earn small profits. With both coins crashing, after the supply-demand ratio broke, the only way the CEO believes to revive the coins is through the introduction of a new coin.

Read more |Luna-Terra crash: A brief history of failed algorithmic stablecoins

According to an announcement from Terraform Labs, Terra 2.0 will go live on May 28, 6 am UTC. The company has also launched the airdrop of new Luna tokens that will be processed soon.

ANALYSIS

We can analyse that there are more or less 10 to 100 contracts per day ,highest being 123 on July 25 . On May 23 , July 4 & September12 there was as low as 8 contracts only .There were gradual ups & downs . Currently on December 19 the number is 6 which is the lowest of all. The total amount of contracts that had been deployed is 1258

ANALYSIS

When we analyse TOP 20 CONTRACTS BY INTERTACTIONS we see maximum was around 10k to 20 k . Highest being 72k, top few ones were between 30k to 70k . Only a little over 12% of contracts have over 500 interactions meaning a small amount of the contracts get the majority of the interactions while a large percentage get very few interactions .The majority of contracts have less than 10 interactions and as you increase the number of interactions the number of contracts that have that many interactions goes down .Earlier contracts interactions usually stayed below 2k with a few massive spikes to above 10k, while later in the year it stuck around 3k-4k on average with less common massive spikes.

ANALYSIS

We see that transfer volume of both the coins does not show any remarkable change and remains consistent . Major portion of transfers of axluuUSDC and axlUSDT are going out. on daily basis . The volume of transfer of axl USDC is greater than axlUSDT . In September 2022,the volume transfer of axlUSDT are showing irregular trends with high spikes on some days and low on the other. On regular basis 70-90% of axlusdc transfers are going out. Transfer of axlUSDT is not promising as they may go out to like 100% or may even remain constant at 50 %. Basically the trend is outflow . stablecoins are consistent and gaining popularity in the current market trends as the flow is regular in & out .

USERS & CONTRACTS

ANALYSIS

We can analyse that initially the contract number were 87 in number in early June . On July 25, the contract number reached to 107 being the highest . few contracts are being created gradually every week around 50 & below.. Only on NOVEMBER 28, we can see 63 new contracts were created .Cumulative new contracts are increasing day by day .It started from 83 & ended at 1068 contracts as on December 19 2022.When we3 divide contracts into different sectors we can see most lies under TOKEN then DEFI & at last DEX contracts.

STABLECOINS, SWAPS AND TRANSFERS, LIQUIDITY POOLS

ANALYSIS

Few large spikes are visible sometimes in the axlUSDT pools as they receive less liquidity ,mostly negligible, or no volume is found . ASTROPOT axlUSDT - axlUSDC pair,being largest is the only pool very considerable amount of volume is allocated . Irregular ups & down graph are found for axlUSDC pool as they receive liquidity at random times .We can conclude saying, axlUSDT pools are more or less inactive ,the only one that is active has been paired with axlusdc .

ANALYSIS

It is clear from these graphs ,the difference in amount between the Average Amount In & Average Amount Out . It is visible that for the axlUSDT stablecoin, average is greater for inflows than outflows when compared to axlUSDC. in some special events, we can observe in axlUSDC , the average outflow is much higher than inflow .

ANALYSIS

In the new Terra ecosystem , when we deeply analyse about stablecoins , we can see that there are more inflows than outflows, which makes us believe about the healthy continuity of the platform.

It is clearly visible that axlUSDC is being the most used stablecoin till date, when we compare it with with axlUSDT ,but in axlUSDT we see different trend.

GAS & FEES ON THE BASIS OF CONTRACT EXECUTION

ANALYSIS

Till 6th August , total fees (LUNA) paid for contract execution was increasing gradually after that there was a downfall till September 5 ,It was highest on September 26 , after that it gradually started decreasing . After November total amount of fees paid was negligible whereas cumulative fees was moving at a consistent pace till 29 August after that it suddenly started taking pick and after 31st October, it is again moving gradually upwards. Cumulative fees is highest on December 19.

Cumulative Gas used was at constant growth till august end . After that it moved in a faster pace. Total gas fees used for contract execution was lowest at the initial stage it started taking a pick from August 1, But after that the growth was showing a down trend. On September 28, Total gas used is highest. Till 12th December The gas used was nominal but after 12th December it suddenly fell down. It is very low in December 19, and average gas used was highest in July, and lowest was on September 12. The average fees was highest on July 25 and lowest on December12.

ANALYSIS

On the basis of these data’s it is clear that highest gas fees used for contract creation was on July 11 where cumulative gas & total gas were more or less equal . Cumulative gas was at constant growth whereas total gas was showing down trends . On December 10 when cumulative gas is highest total gas is lowest

Total amount of fees paid for contract creation was highest on July 11 when gas was also highest .Cumulative fees was highest on Dec 19 when total fees was at its lowest.

Average fees was highest on July 11 and lowest on November 14.Average gas used was highest on July11 and lowest on August 8.

METHOD

I have created this dashboard to discuss about the DEVELOPMENT IN TERRA ecosystem.For this I have divided my dashboard into various sections

GENERAL STATS,

USERS&CONTRACTS ,

STABLECOINS,SWAPS -TRANSFERS& LIQUIDITY POOLS &

GAS & FEES PAID WHILE CREATING & EXECUTING CONTRACTS.

We will be discussing metrics like active contracts & Cumulative number of active contracts per period, new contracts &Cumulative number of new contracts per period .Distribution of New and old contracts per period & % of new contracts. We will also see how contracts ae distributed on the basis of number. We will discuss about Gas used and fees for creating contracts, feee for the execution of the contracts ,development of stablecoins & swaps

The tables that we will be using are terra.core.ez_messages, terra.core.ez_swaps , terra.core.fact_transactionstables

Terra, new contracts are created with the message type cosmwasm.wasm.v1.MsgInstantiateContract broadcast to the whole network. In this dashboard, we’ll be looking at the contract deployment activity for last 6 months ie.180 days

GENERAL STATS