Phase 1 — Part 1: Locking LP tokens
In this phase, users can lock their Terraswap LP tokens for a period of time that goes from 2 to 52 weeks.
How many LP tokens have been locked and for how long?
Let’s see the distribution of the lock periods and the amount of LP tokens locked. These LP tokens effectively represent token supply which is locked out of circulation for the given time period. The different pairs can be toggled on and off in the chart to allow for better readability.
- bLuna-Luna: 2 weeks is where the most of LP tokens are locked, however 52 weeks is in the 2nd place with 250k tokens
- Luna-UST: the situation is different, in which we have the largest amount locked for 4 weeks and 2 and 52 with similar amounts locked. Furthermore, we have similar amounts locked every 4 weeks starting from week 12. This is probably due to the risk of impermanent loss.
- STT-UST: LP incentives and participation in IDOs for tokens locked in Astro lockdrop seem to have worked. More than twice as many tokens locked for 52 weeks compared to only 2.
How many users have deposited in each lock period?
The amount of tokens can be biased by whales and hide the trend of the majority of users.
- bLuna-Luna: when looking at distinct addresses: 52 weeks is by far the preferred one. This means that more individual users have preferred the 52 weeks, but those that chose the 2 weeks period have deposited more. This makes sense, as it is less binding to lock for only 2 weeks and therefore those that went for that choice — even if fewer — have deposited more
- Luna-UST: we do not see the spikes at the 4 weeks interval, this means that those spikes may be due to whale activity spreading out their liquidity over several lockup periods
How many users have deposited in each pool?
Let’s see which pair is the preferred one.
- Luna pools are the most popular ones
- bLuna-Luna is the most preferred due to not having impermanent loss associated
Top depositors
Let’s now look at the top depositors per UST value.
- The top depositor has locked over $64m UST worth of Luna-UST LP tokens
- One whale alone has locked over $10m worth of ANC-UST LP tokens
- We see that Luna-UST and bLuna-Luna are the preferred LP tokens being locked by these whales
- The third largest depositor has locked various types of LP tokens including MIR, ANC and Psi
Phase 1 — Part 2: Withdrawing locked LP tokens
In this phase users can only withdraw the LP tokens they have deposited. In the first day they can withdraw up to 100% of the previously locked tokens. In the second and last day, they will be able to linearly withdraw less and less of them. In the chart below both the corresponding UST value of the withdrawn LP tokens and the number of unique withdrawing addresses can be selected.
We counted 555 unique addresses taking advantage of this withdrawing part of phase 1.
What pools have users withdrawn from?
The chart shows both the total amount in UST withdrawn and the number of single addresses withdrawing from each pool.
- bLuna-Luna is by far the pool from which the most funds have been withdrawn: $5.5m UST and over 250 users withdrawing (50% of all withdrawing users) . This was however also the pool with most tokens locked to start with.
- ANC/LUNA-UST have interestingly similar number of unique addresses and amount withdrawn
From which lockup periods?
Let’s now look at the lockup periods tokens have been withdrawn from. As always, the different pairs can be toggled on and off.
- bLuna-Luna: the vast majority of tokens has been withdrawn from the 2 weeks lockup period. This is probably due to the fact that this option is not providing many rewards in $ASTRO tokens, given the large liquidity locked in this pool for longer time. Users may have preferred to put their tokens to use elsewhere.
- Luna-UST: the situation is different here. The large share of tokens has been withdrawn from the 50 weeks. This pair presents impermanent loss, and some users may have preferred not to be exposed for such a long time.
- ANC-UST: over $600k was withdrawn from the 2 weeks period
What percentage has each user withdrawn?
For the 555 withdrawing users, we are now interested in seeing what percentage, out of the previously deposited tokens, has each users requested to unlock.
- We can see that the most requested lockup periods are 2 and 52 weeks (Y-axis)
- In these, various percentages have been withdraw: from 0 to 50%
- 50% represents a significant value. It is the most popular withdrawn share and almost no users have withdrawn more than this
- Only one user, to be specific, has withdrawn 100% of its share from the 2 weeks lockup period
