Happy Monday, folks. We’re kicking off the week by highlighting some of the best Terra data dashboards from the past week.
We’ve got five Terra data dashboards to highlight this week, including submissions from @TZMCrypto, MarneeSeaweed, @darksoulsfanlol, @shreyashpatodia, and @scottincrypto .
mBTC leads the way on Mirror
We’ll start off with a look at how various synthetic assets are performing on Mirror. For the unfamiliar, Mirror allows for the tracking, issuing and trading of these assets, such as U.S. equities like stocks, via Mirrored Assets, also known as mAssets.
In our first submission, @TZMCrypto examined which assets were performing best over recent weeks. The answer? mBTC, the mAsset version of Bitcoin, followed by the Ethereum equivalent, mETH. According to @TZMCrypto, this has been true not only over the past 30 days, as can be seen below, but also over the last three months as well.
Staked Luna stays consistent
Next up is a look at staked Luna with MarneeSeaweed. This submission examined the relationship between staked Luna and the amount of rewards received throughout the first seven or so months of this year.
As we can see in the graph below, staked Luna has remained at roughly 300 million dating back to early January. And, as MarneeSeaweed covers elsewhere in this submission, staking rewards can heavily impact the price of Luna.
Oracle votes remain uncontested
In our next submission, @darksoulsfanlol offered a look at Oracle Price Votes. More specifically, this submission analyzes the Terra Oracle Price voting mechanism, “the backbone of the Terra ecosystem.” As @darksoulsfanlol notes, UST is used in almost every protocol in the Terra ecosystem, and a depeg of UST could be disastrous not just to Terra, but also to protocols like Anchor and Mirror.
As we can see below, Oracle Price Voting typically sees an overwhelming amount of “yes” votes. In fact, “no” votes have only become noticeable in votes that came after May 31. However, even with the introduction of these “no” votes, oracle prices remain mostly uncontested, a crucial element for maintaining stability on Terra.
10K New users come to Terra daily
How has all this activity impacted the number of new users coming to Terra? That was the question at hand in this submission from @shreyashpatodia, who examined the number of new addresses joining Terra each day.
As we can see below, the number of new users has spiked in recent weeks, with more than 10,000 new users on each of the last few days in June. This is an increase over the 5,000 to 8,000 accounts that typically join each day. It’s also the most since an even more significant peak during LUNA’s ATH and the launch of Anchor.
Terra taxes increase as mining rewards drop
Last but not least is a look at the tax rate on the Terra platform from @scottincrypto. Scott’s submission specifically analyzed how the tax rate has changed over the past ten weeks. As we can see below, the tax rate (a fluctuating percentage fee of between 0.1% and 1%) has been on the rise in recent weeks, reaching a peak of more than .45% on July 13.
What drives these tax rate changes? According to @scottincrypto, they’re the result of changes in mining rewards. The tax rate increases as mining rewards decrease (and vice versa) in order to ensure reward stability when there are short-term variables in the rewards. These rewards are designed to grow steadily over the long term to encourage long-term investment.
Get involved with Terra data 🔍
That does it for this week. Thanks to everyone who submitted such great Terra data dashboards! Want to get more involved with the Flipside community and see your own submissions on our blog?Join us on Discord to get started.