August 27, 2022

The Big Fundamental: Developers, Developers, Developers

The most fundamental metric in Web3 = developer activity

Jon Ma
Co-Founder / CEO

Hello Artemis Friends!

We have a big announcement. And it relates to what we think is the most fundamental metric in web3: developers, developers, developers

(For NBA fans: as an aside, if you think about it Steve Ballmer and Kawhi Leonard couldn’t be two more different personalities! 🤔.)

Developer Metrics on GokuStats 😎

We launched our dashboard of real-time Web3 developer activity!

Here’s a view of the weekly commits and weekly active developers in the web3 ecosystem in the last 3 months.

Here are some reactions from Twitter 🙏🏼

Market Update 📈

8/7/2022 Developers, Developers, Developers

Across the major ecosystems, there’s been a significant decline in the last 1 month and 3 months of weekly active developers across community. Some of this could be attributed to growth in other ecosystems (e.g Aptos), a drawdown in price (and perhaps less of an incentive to build) but also we are currently tracking open source github repos so developers may be building in closed source repos that we don’t currently track. Also summer vacay in August anyone? ☀️

There’s been a narrative that Solana developers have been moving over to Aptos — it’s been interesting to see that Aptos has indeed seen a growth in weekly active developers. Its not confirming this thesis necessarily but it is interesting to see the decline in developer activity in Solana (again note this is just public repos) and growth in Aptos developers.

Solana Developer Activity — weekly active devs down ~30% MoM, 58% last 3 months 📉

Aptos Developer Activity — weekly active devs up 40% MoM, 58% last 3 months 📈

What projects have been spiking in dev activity?

  • Flow: 102 weekly active devs up 40% MoM
    - Instagram added Flow support may have contributed to this spike.
    - Flow claims a total of 8,000 devs are developing on FLOW with 1,000+ projects.

- Flow has ~50k daily active addresses which is > than that of Avalanche (38k) on C-Chain.

  • Dappradar claims there’s only 9 Flow projects with 10+ users
  • Metamask: yep, the leading ETH wallet is 21% and 23% last month and 3 months respectively in weekly active devs to 46.
    - Metamask has 10m+ chrome downloads, compare to 2m+ for Phantom and 1m+ for Coinbase Wallet (👀 Phantom has > downloads than Coinbase Wallet).
  • Aptos: as discussed above, 38 weekly active devs up 40% MoM and 58% last 3 months
    - In the Aptos white paper they claim to have 350+ developers across the globe - one of the drawbacks of not being able to track closed source repos is we're not able to account for these devs.
    Aptos is currently on Incentivized Testnet 3 (AIT-3) and clearly laid out what success looks like for AIT-3

- Speaking of wallets, Aptos seems to be pushing Petra Aptos Wallet which has 2k+ users in the chrome store which should be a great leading indicator of consumer adoption:

8/26/2022 Artemis Weekly Crypto Comps

🚨 If you want this crypto comp table, please email us or you can download the free Artemis Sheet plugin here! We’ll send you the comp table in Google Sheet as a free template.

🚨If you want access to our Excel plugin, please reach out to us at and we’d gladly onboard you onto Artemis Sheet plugin on Excel.

Some observations 👀

Top L1s are up more than Top 10 DeFi
  • Top L1s (by marketcap) are up ~15% last 30 days and Top DeFi (by TVL) are up 5% on average.
  • Top L1s are down 76% from ATH and Top DeFi are down 88% on average.
Tokens up the most

Artemis Community Insights

We’ve been seeing GokuStats (our L1/L2 dashboard) in the wild on Twitter and there are great insights from the community.

1️. Cosmos: daily active, transactions and TVL are reaching 3 month high
2️. Solana: no major outages this summer
3️. Developer activity:
down in the bear market, importance of engaging with devs.
4️. Binance Smart Chain (
BSC): large number of active addresses among L1s

See you all next week ✌️

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