Try Quests to earn SOLOpen Analytics Bounty: Optimism (October 29)
Transactions
Simply put, a cryptocurrency transaction is a transfer of information made between blockchain addresses. These transfers have to be signed with a private key that corresponds to its address. Signed transactions are broadcast to the network of nodes, active computers that follow a specific set of rules to validate transactions and blocks. Valid transactions need to be confirmed by being included in blocks through the process of mining.
This infrastructure ensures that transactions are pseudonymous, yet transparent, and that they cannot be changed or deleted from the records once they are embedded deeply enough in the blockchain. source
Failed Transactions
When a transaction fails on the Ethereum network, you are still charged. Transactions fail when there isn’t enough gas to pay for a transaction, or when a smart contract rejects a transaction.
You are still charged for failed transactions because miners need to confirm transactions to the chain whether they succeed or fail. So, you are paying for that regardless of whether your transaction goes through. source
Velodrome
Velodrome Finance is designed to solve one of the main problems for any DEX; incentivizing liquidity reduces the value of the DEX’s token. They address this problem by aligning protocol growth with fee generation, not just liquidity. In other words, take Curve Finance‘s sophisticated AMM and Solidly’s incentive structure, combine, shake well, and serve. Enjoy Velodrome!
Methods
Tables i used: optimism.core.fact_transactions for all transactions but i filter it with ORIGIN_FUNCTION_SIGNATURE in (select ORIGIN_FUNCTION_SIGNATURE from optimism.velodrome.ez_claimed_rewards,optimism.velodrome.ez_lp_actions,optimism.velodrome.ez_staking_actions,optimism.velodrome.ez_swaps,optimism.velodrome.ez_velo_locks and optimism.velodrome.ez_votes)
I select transactions status with count(CASE WHEN status = 'SUCCESS' THEN 1 end) as success, count(CASE WHEN status = 'FAIL' THEN 1 end) as fail,
For transactions rate: (success/total_txs)*100 as success_rate, (fail/(fail+success))*100 as failed_rate
Metrics
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Total Transactions
Number of Transactions per Type Total Transactions Status
Total Number of Transactions per Type
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Success Transactions
Number of Success Transactions per Type
Total Success Transactions per Type
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Failed Transactions
Number of Failed Transactions per Type
Total Failed Transactions per Type
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Transactions Success Rate
Transactions Success Rate per Type
Average Transactions Success Rate
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Transactions Failure Rate
Transactions Failure Rate per Type
Average Transactions Failure Rate
Thanks for reading
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All data used are from: Flipside Crypto
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My Twitter: Sepehrmhz8
Conclusion
Unfortunate and sudden events may happen to all platforms, but managing it and preventing the situation from getting worse is very important because a platform may be destroyed by a sudden event and may not continue, but a platform may be able to manage that event. to improve itself and improve more than before, so it is very important to manage events and overcome them.
As you can see, Velodrome was able to manage this very well and now that the number of user transactions is still high, but we can see that the failure rate of transactions has decreased a lot, but the point is that this platform should try to open also reduce the failure rate.
Total Transactions
Since June of this year, we have seen that the number of user activities on the Velodrome platform has increased greatly, and this shows that many users are using this platform, and this shows that this platform has become very busy, and when the number of transactions on a platform It suddenly increases a lot, causing some transactions to be unsuccessful and fail.
Since the beginning of this year, the activity of users who did Stake has decreased, and if you pay attention to the mastery percentage, you can see that it has reached 10% from 31% since the beginning of this year, and on the other hand, the number of user swaps has increased so much that the percentage Its dominance has reached 65%.
The highest number of user transactions is related to swaps, which users made a total of 7.5 million swaps, and it seems natural that the percentage of swap dominance is the highest percentage among user activities on this platform, and the next popular activity of users is stick users. A total of 1.14 million Stakes were performed on this platform, and in the third place there is LP Actions, where users performed a total of 1 million transactions with this title.
In the middle of July of this year, the number of user activities on this platform increased a lot, and all the actions of users increased a lot, and from the beginning of this year to the beginning of July, the transaction success rate was around 98%, but from the beginning of July, this platform became very busy and the activities It increased a lot, the success rate of its transactions fell to 85%, which is a very low success rate, but after that, the success rate of transactions increased again and reached 94% in the last few days. The platform is still very high and this is a very good point for this platform because it has managed to increase the success rate of transactions again despite all this crowd.
In total, nearly 92% of all transactions on the Velodrome platform have been successful. This shows that with the sudden increase in user activity on this platform, this platform was able to manage transactions so that transactions do not fail.
Success Transactions
The most popular action among Velodrome users is swapping, which means that most of the users of this platform use swap on this platform, and the number of successful swap transactions on this platform is 6.66 million, which is considered to be nearly 65% of all successful transactions on this platform. After swap, the most popular action among users is stake, which has a total of more than 1 million successful transactions, which is nearly 11% of all transactions on this platform. profit from their capital, so it is natural that the number of transactions is high.
Failed Transactions
With the sudden increase in user activity in Velodrome, this platform could not complete all transactions successfully and caused the number of failed transactions to increase greatly, and the peak of this number of failed transactions was in the last week of July and after Again, the number of failed transactions decreased and until today the trend of failed transactions has been downward, which shows that this platform has been able to improve its transactions and reduce the number of failed transactions so that users are fully satisfied with this use the platform.
Because Swap has by far the most transactions in Velodrome, it has the highest number of failed transactions on this platform, and the total number of failed transactions of Swap is 745,000 transactions, which is more than 80% of all failed transactions in Velodrome. And after swap, by far the most failed transactions are related to LP action, which has a total of 77 thousand failed transactions, but still, the number of failed transactions is much less than swap, and this means that swap action is There are too many failed transactions and this shows that Velodrome should work more on swap transactions to have the least number of failed transactions.
Transactions Success Rate
As you have seen so far, in the middle of July of this year, the number of transactions in Velodrome increased a lot, and because of this, it caused the network to be crowded, and this congestion caused the transactions to be unsuccessful, and for this reason, the success rate of all transactions of this platform Reduced.
In the same crisis, when the success rate of transactions was not high, the biggest drop in the success rate was for Swap, whose transaction success rate fell from 98% to 83% in July, which was a very high rate compared to other actions, but after that, the rate Transaction success increased.
In general, the highest success rate is for Votes, whose success rate is 97, which is the highest among Velodrome actions, of course, there is a very clear reason, and the reason is that the number of Votes transactions is very low, and for that reason, it is not crowded, and most of the transactions are with success is done, and on the other hand, the lowest rate of transaction success is for swap, which is 90, and this is because the number of swap transactions is very high, and because of this, there is a lot of competition to do it, and because of this, it causes so that the success rate decreases.
Transactions Failure Rate
Unfortunate and sudden events may happen to all platforms, but managing it and preventing the situation from getting worse is very important because a platform may be destroyed by a sudden event and may not continue, but a platform may be able to manage that event. to improve itself and improve more than before, so it is very important to manage events and overcome them.
As you can see, Velodrome was able to manage this very well and now that the number of user transactions is still high, but we can see that the failure rate of transactions has decreased a lot, but the point is that this platform should try to open also reduce the failure rate.
On average, the highest rate of transaction failure is for swaps, because its failure rate is 10, which means that out of every 10 swaps on this platform, one of them is likely to fail, and this may be a little disturbing for users, and Velodrome should try to Reduce this number, and on the other hand, the lowest rate of transaction failure is for Votes, which has a failure rate of 3, which is a very good number.
