User Growth Per Sector

The purpose of this article is to discuss what sectors and apps are driving user growth on Terra. Create a dashboard that shows user growth by sector and app (DEXs, Borrowing, Staking, NFTs, etc.). Are there certain sectors / apps that are driving greater user growth than others?

Here lets discuss about the different Sectors in Terra ,

  • Defi : Our daily financial lives will be simplified through decentralized finance (DeFi) applications
  • Dapp: Decentralized applications (dApps) are distributed applications based on open source software designed to run on a peer-to-peer (P2P) blockchain network rather than on one computer. Peer-to-peer application development creates a new economy based on decentralized technologies that removes power from monopolistic companies.
  • DEX : The DEX allows tokens to be exchanged smoothly across the network and the various DeFi (Decentralized Finance) Applications. That means ,Keeping the Network decentralized and secure requires a DEX that ensures seamless asset exchange throughout the Network. For example, In Terra blockchain, Loop is a DEX (decentralized exchange) that allows token exchanges in a completely decentralized and anonymous manner. There are liquidity pools within Loop DEX so that you can trade, or add liquidity so you can earn yield. That means In the crypto world, decentralized crypto exchanges (DEXs) are apps that use blockchain technology to facilitate large-scale trades of crypto assets between multiple participants. As an alternative to acting as a financial agent between buyers and sellers, they exclusively use automated algorithms to do so. 
  • NFT : NFT stands for non-fungible token. Non-fungible tokens are unique, and blockchain assets are tokens. A NFT can therefore be considered to be a blockchain identifier that holds all your purchase information and proves ownership, as a digital record that cannot be altered.

We’ll look at the growth in users by sector here on this dashboard since January 1, 2022. In addition, we took into account the different Sectors on Terra such as dapp, defi, dex, and nft as well. Total users by sector between January 1, 2022 and May 5, 2022 were 672.41K. Sector Defi is the largest contributor (51.06%) to the total Users out of the 4 Sectors.  Dapp has the lowest number of Users (21.17K). The maximum number of users was 27.43K on January 1, 2022. So, taking all sectors into account, it would seem that user growth was high at the beginning of 2022. This has been decreasing over time. Sector-wise, the number of users is decreasing.

The above chart provides us with a quick glimpse of daily percentage growth of users by sector since January 1, 2022. Defi also has the highest percentage (51.1%) of total Users among the 4 sectors.  Next highest growth has been witnessed by the dex sector on Terra. Among all apps, Dapp has the least users (21,17K). 

From the below graph, we can see the weekly user growth by sector, where we have been measuring the growth in users since January 1st, 2022. Based on the following graph, if we view the entire weekly list of all sector users, we can see that the growth of the Defi and Dex sectors is related to one another. NFT sector user growth has steadily increased from January 1 , 2022, to now, and it is expected continue growing in the near future. When compared to the previous weeks, the dapp sector’s users growth indicates that there is a sudden increase in Week 7 (Feb13-19) 2022 and Week 12 (Mar20-26) 2022 compared with their previous weeks.

As we can see in the below graph, terra has experienced a steady growth in users since January 1st 20,22 across all sectors. As we can see in the graph, user growth peaked in January 2022. There is a reduction in it later, and we can see from March 2022 that the number of users is increasing again.

On the following graph we can see the growth of new users for the top 10 apps across all sectors from January 1, 2022. The total number of new users using the top 10 apps across all sectors between January 1, 2022 and May 5, 2022 was 892,07K. The Anchor App accounted for 32.66% of all new users, and the top two apps (Anchor and Terraswap) accounted for 56.24%. As of today, the lowest total New Users is 24.7K (starterra) and the highest total New Users is 291.34K (anchor). The maximum number of new users was observed on January 3, 2022, with 28.8K.  Over the period from January 1, 2022 to May 2022, there was a 95% decrease in total new users. The number of new users is decreasing. On April 25, 2022 and April 14, 2022, there are more new users than normal. There was a decrease in the number of new users in the 10 App during the first quarter. 

The above chart provides us with a quick glimpse of daily percentage growth of users by top 10 apps across all sectors since January 1, 2022. Anchor App is having the highest percentage (32.7%) of total Users among the top 10 Apps .  Next highest growth has been witnessed by the terraswap app on Terra. Among all apps, starterra has the least users (24.71K). 

Observations

According to the above data analysis,

  • Looking at the overall user growth by sector from Jan 1st 2022, Defi is the largest contributor (51.06%) to the total Users out of the 4 sectors.  While Dapp has the least amount of Users (21.17K). We can therefore say that over 50% of users are accessing the Defi Sector on Terra.
  • According to the top ten apps across all sectors from Jan 1st of 2022, Anchor accounted for 32.66% of all new users, and the two top apps (Anchor and Terraswap) accounted for 56.24%. The lowest number of total New Users as of today is 24.7K (starterra) which is the least number of users out of the top 10 apps. In Terra, that means that more users are using Anchor and Terraswap across all sectors.

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