Every week, we turn people’s data questions into crypto bounties for data analysts to solve.
We’ve got five fantastic Terra bounties to show you this week, focusing on everything from new user inflow to peg variance.
So without any further ado, let’s dive into this week’s Terra data dashboards.
New users flood Terra in recent days 📈
@scottincrypto took a look at the inflow of new users to Terra in recent weeks.
The graph below examines new wallet addresses (defined as those with their first non-zero balance in Terra native coins). As we can see, these addresses spent most of the past few months being added at a rate of more than 5,000 per day. In the past week or so, however, there’s been a notable spike of as many as 20,000 users per day.
@scottincrypto had plenty more insights on new user activity in the Terra ecosystem, including new Anchor and Mirror user analysis, as well as a look at whales on the platform. Check out his submission here.
The best yield farm on Terra goes to…🚜
Next up is @ahkek4. He took a look at the most promising yield farming opportunities on the Terra network. So what did he find?
As @ahkek4 points out, coming to a solution isn’t as easy as it may seem on the surface. First, @ahkek4 located the Terra assets on Ethereum, including MIR and UST. Then, the submission searched through the top Uniswap pairs by LP and UST count. Finally, he calculated the ROI of each pool. As we can see below, the top 3 pools with the highest APR are MIR-UST, mBABA-UST, and mUSO-UST.
Terra transactions increase, fees drop 📉
Our next query featured two standout submissions, from @AND__SO and @shreyashpatodia.
Each of these bold bounty hunters examined recent transaction fee levels on Terra. We’ll start with a submission from @shreyashpatodia. As we can see in the graph below, total transactions on Terra spiked recently, with the average of 150-300K transactions per day in earlier months being eclipsed on a daily basis since June 11.
Interestingly, fees have dropped during the most recent stretch of this month. As we can see in the graph below from @AND__SO’s submission, fees reached a recent high of more than $12,000 on June 20 before dropping to less than $2,000 on June 25. This could be due to the recent market movement which saw the price of LUNA drop by roughly 70%.
UST stablecoin peg variance tops out at 5% 🪙
Finally, we’re taking a closer look at peg variance with some more help from @shreyashpatodia.
As the submission shows, UST variance has topped out at roughly 4-5% off of the value of its peg. However, as @shreyashpatodia shows, UST tends to quickly return to its equilibrium balance of 1 USD.
Get involved 🔍
That does it for this week. Thanks to everyone who submitted such great Terra data dashboards!
Want to get more involved with Flipside’s incredible community and see your own submissions on our blog? Check out Flipside Crypto’s other video tutorials. They’ll help you get started with Velocity and learn how to get paid for solving crypto bounties.