Osmosis Comprehensive Report for Q1 2024

Hey! I’m one of the founding member of Pyor. We’re a blockchain analytics firm and we work with protocols by giving high-fidelity insights. We have our own data product which we use to perform analysis and deliver insights to institutions like Ribbit Capital, CitiBank, and Goldman Sachs. Essentially, Osmosis acts as a bridge between various blockchains in the Cosmos ecosystem, allowing users to trade tokens freely and explore a more interconnected DeFi landscape.

We recently just published a Osmosis Comprehensive Report for Q1 2024, covering metrics like Financials, Operational, Users, Trading Pools, Valuation, Market Data which we procured through collaboration with the internal Osmosis Team.

To read the full report-
Our report if published on our website and on our twitter/linkedin pages.

Here are few of the data points which are worth mentioning-

→ Operational
Over the past year, the Osmosis decentralized exchange (DEX) demonstrated notable growth in trading volume and swap counts. The appchain reached its peak trading volume on December 26, with an impressive figure exceeding $102 million.

→ Users
Osmosis witnessed a significant surge in trader activity, as evidenced by the increasing number of daily active users since late 2023. The day with the highest number of active unique users was on January 4, 2024, when over 56k users were on Osmosis Zone. This was after a slew of airdrops on the IBC network that went to OSMO stakers and resurging trading activity in the last quarter of 2023.

→ Trading Pools
The top 20 trading pools on Osmosis DEX showcase a diverse range of assets and liquidity options for users. The axl.USDC-OSMO pool takes the lead with the highest trade volume over the past year, while the ATOM-OSMO pool comes in at a close second. Axl.USDC is the wrapped version of the USDC stablecoin using Axelar.

→ Financials
Since the beginning of 2023, Osmosis earned $8.1 million in trading fees. Interestingly, 31% of these fees came in the first quarter of 2023, with over $800k in trading fee per month between January to March 2023. These rest of the year (till December) saw muted generation of trading fees, at less than $500k in fee generated per month.

→ Valuation
Market Cap/TVL is a significant metric for evaluating the valuation of Osmosis DEX, as it compares the platform’s market capitalization to the total value locked (TVL) within its liquidity pools. This ratio provides insights into the relationship between the platform’s overall market value and the amount of assets committed by users to facilitate trading activities.

→ Market Data
After hitting a low of $0.2 in October 2023, OSMO strongly rebounded to pushing past $1 less than two months later. Before this, the token traded above $1 for less than 3 weeks earlier in the year. This surge continued in 2024, with the token trading between $1.5-2. At it’s peak Osmosis hit a market cap of $1.2 billion.

Hope this was worth the read. We are happy to publish this to the community. If there is anything the people of the ecosystem requires us to add in our future reports, let us know.

Hihi :black_cat: :heartpulse: thank you so much for sharing! As this is the cosmos hub-focused forum, it might be worth sharing your report in the Osmosis forum, rabbit, and other community channels! Osmosis Community Hall - Osmosis Chain Governance Forum

Hello @Ezdubois, indeed this should be targeted to the Osmosis forum instead! Nevertheless I bet the community would be happy to have your quarterly reviews for the Hub as well :slightly_smiling_face:

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