1. Developer Report
January — December 2022

2. Introduction
Electric Capital is a leading crypto venture firm. We are early-stage investors in many well-known
Layer-1 platforms, DeFi protocols, NFT projects, DAOs, and breakout crypto businesses. Learn more
at
We share this data publicly in the hopes of helping the crypto community have a clearer
understanding of the industry's collective progress. We are grateful to everyone in the community
who helps by contributing to our Github, the foundations who help us validate our analysis, and
the friends who offer feedback on drafts.
ElectricCapital.com
developerreport.com
Contributors
+300 volunteers in the crypto community who added to our Github taxonomy and scrubbed data!
Maria
Shen
Author
@mariashen
Enrique
Herreros
Data
@eherrerosj
Curtis
Spencer
Data
@jubos
Emre
Caliskan
Engineer
@n4motto
Avichal
Garg
Author
@avichal
Ken
Deeter
Data
@puntium
Mitchell
Hammer
Contributor
@mitchelljhammer
Martha
Shear
Contributor
@martha_shear
Adam
Wolff
Contributor
@dmwlff
Mark
Xia
Contributor
@sheatgm
Gary
Thung
Contributor
@garythung
Photon
Contributor
@photon0x
Emily
Myers
Contributor
@EmilyMMeyers
2

3. how we Measure Developer Activity
An early and leading indicator of value creation in emerging platforms is developer engagement.
Developers build killer applications that deliver value to end users, which attracts more customers,
which then draws more developers.
Because crypto is significantly open source, we have a unique and unprecedented ability to
understand an emerging industry that may be worth many trillions.
For the 2022 report, we analyzed 250M code commits. The taxonomy of projects is crowdsourced
from , the foundations from many of the ecosystems, as well as CoinGecko,
CoinMarketCap, DappRadar, DefiLlama, Github,Gitlab, and others.
We infer non-original commits, which account for 65% of the total, and credit only the original
authors and original ecosystems that produce code. We try our best to eliminate bots and
de-duplicate developers with multiple accounts.
More details are in the appendix.
The taxonomy of projects is available at our Github:
Crypto Ecosystems
github.com/electric-capital/crypto-ecosystems
developerreport.com 3

4. Caveats
We undercount developers because we rely
on open-source repositories only
There are many more crypto developers than are accounted
for in our report. Some teams are working on closed-source
projects or deploy their code on-chain without ever open-
sourcing their contracts. We also undercount developers in
roles such as backporting, testing, or release engineering as
their efforts may not result in unique code contributions.
Some teams first work in a closed source environment, then
open-source their code later. We and the community add
new open-source repositories to a common mapping found
at . Not all open-source repositories will
make it into the taxonomy in time for this report every year.
It requires more than just software engineers to build
crypto products that reach mainstream adoption, so this is
a dramatic undercounting of the number of people building
in crypto.
Crypto Ecosystems
Not all commits are created equal
Some code commits may be routine changes, whereas
others represent hours of accumulated research and
analysis. Despite these caveats, we consider the analysis
in this report directionally and relatively accurate.
Feedback
We are always looking to improve. Please share feedback
with us at devreport@electriccapital.com
4
developerreport.com

5. Executive Summary
Crypto developers are +5% YoY,
despite 70%+ decline in pricesK
J 23,343 monthly developers as of Dec 202<
J 471,000+ monthly code commits are made
toward open-source crypto projectM
J +8% YoY growth in Full-Time developers. Full-
Time devs contribute 76% of code commitM
J All-time high of 61,000+ developers
contributed code for the first time in 2022
Crypto developers increased
meaningfully since 2018K
J Crypto network value is back to Jan 2018
levels, but monthly developers increased
+297%^
J 3x growth in Bitcoin monthly active
developers, from 372 to to 946 since Jan 1f
J 5x growth in Ethereum monthly active
developers, from 1084 to 5819 since Jan 201f
J Solana, Polkadot, Cosmos, & Polygon grew
from fewer than 200 devs to 1,000+
developers since Jan 2018
Major ecosystems are emerging
beyond Bitcoin and EthereumK
J 72% of monthly active devs work outside the
Bitcoin and Ethereum ecosystemM
J Solana, NEAR, and Polygon grew 40% YoY and
have 500+ total monthly active developerM
J Sui, Aptos, Starknet, Mina, Osmosis, Hedera,
Optimism, and Arbitrum grew 50%+ YoY and
have 100+ total monthly active developerM
J 3,901 developers work in DeFi every month
across multiple chains, +240% since DeFi
summer. 50% of DeFi developers are outside
of EthereuÕ
J 900+ developers write code monthly in NFTs
across chains, +299% since 2021
Developers are a leading indicator of value creation.
Developers build apps that deliver value to users. Killer apps attract customers,
and those customers bring more developers. Because crypto is significantly open
source, we have an unprecedented ability to measure developer adoption and
fundamental traction in an emerging industry.
developerreport.com 5

6. Table of contents
6
01. Developer Overview 7 —— 46
47 —— 155
50 —— 54
55 —— 62
63 —— 155
156 —— 176
159 —— 169
170 —— 176
177 —— 178
183 —— 186
02. Ecosystem Deepdive
DEFI
NFTS
ETHEREUM
BITCOIN
TOP 200 ECOSYSTEMS by Net Value
03. USE CASES
04. DEVELOPERREPORT.COM
05. APPENDIX
developerreport.com 6

7. 7
DEVELOPER OVERVIEW

8. 8
We are now 14 years into the creation of open-source crypto
developerreport.com
Bitcoin v0.1 released
Satoshi Nakamoto satoshi at vistomail.com
Thu Jan 8 14:27:40 EST 2009
Announcing the first release of Bitcoin, a new electronic
cash system that uses a peer-to-peer network to prevent
double-spending.
It's completely decentralized with no server or central
authority.
See bitcoin.org for screenshots.
Download link:
Windows only for now.
- Unpack the files into a directory
- Run BITCOIN.EXE
- It automatically connects to other nodes
http://downloads.sourceforge.net/bitcoin/bitcoin-0.1.0.rar
Open source C++ code is included.
If you can keep a node running that accepts incoming
connections, you'll really be helping the network a lot.
Port 8333 on your firewall needs to be open to receive
incoming connections.
The software is still alpha and experimental. There's no
guarantee the system's state won't have to be restarted
at some point if it becomes necessary, although I've done
everything I can to build in extensibility and versioning.
You can get coins by getting someone to send you some, or
turn on Options->Generate Coins to run a node and generate
blocks. I made the proof-of-work difficulty ridiculously
easy to start with, so for a little while in the beginning
a typical PC will be able to generate coins in just a few
hours. It'll get a lot harder when competition makes the
automatic adjustment drive up the difficulty. Generated
coins must wait 120 blocks to mature before they can be
spent.

9. In the first 7 years: monthly active developers wrote code
1,000+
9
developerreport.com
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
22,000
24,000
26,000
28,000
All Crypto Monthly Active Developers Since 2009
Jan 2010 Jan 2012 Jan 2014 Jan 2016 Jan 2018 Jan 2020 Jan 2022
6.5 Years
Bitcoin Launch
2009
Developers: 1
Ethereum Launch
July 2015
Developers: 1,164
We use July 30, 2015 as the Ethereum Launch Date, when the genesis block was created.
Developers

10. IN THE NEXT 7 years: crypto gained more monthly active Devs
+22,000
10
developerreport.com
We use July 30, 2015 as the Ethereum Launch Date, when the genesis block was created.
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
22,000
24,000
26,000
28,000
All Crypto Monthly Active Developers Since 2009
Jan 2010 Jan 2012 Jan 2014 Jan 2016 Jan 2018 Jan 2020 Jan 2022
First
6.5 Years
Second
7.5 Years
Bitcoin Launch
2009
Developers: 1
Ethereum Launch
July 2015
Developers: 1,164
December 2022
Developers: 23,343
Developers

11. There are now monthly active developers in crypto
23,343
11
developerreport.com
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
22,000
24,000
26,000
28,000
All Crypto Monthly Active Developers Since 2009
Jan 2010 Jan 2012 Jan 2014 Jan 2016 Jan 2018 Jan 2020 Jan 2022
Developers
December 2022
Developers: 23,343

12. +5% monthly active developers from December 2021 to December 2022
12
developerreport.com
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
22,000
24,000
26,000
28,000
All Crypto Monthly Active Developers Since 2009
Jan 2010 Jan 2012 Jan 2014 Jan 2016 Jan 2018 Jan 2020 Jan 2022
+5%
Dec 2021
22,309
Dec 2022
23,343
+1,034
Developers

13. Monthly active devs increase alongside prices in a market cycle
13
developerreport.com
Total Network Value is the value of total crypto market cap from CoinGecko. Total Network Value reached a high Jan 6, 2018. Total Network Value reached an all-time high Nov 8, 2021.
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
22,000
24,000
26,000
28,000
Monthly Active Developers vs Crypto Network Value
$0.0T
$0.5T
$1.0T
$1.5T
$2.0T
$2.5T
$3.0T
$3.5T
Network
Value
Network Value ATH
Network Value Peak
Developer All-Time High
During Last Market Cycle
August 2019
10,893
Developer All-Time High
Jun 2022
26,323
Developers
Jan 2014 Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022

14. during the last Market cycle: monthly developers grew by to
over 10,000 for the first time
+8,043
14
developerreport.com
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
22,000
24,000
26,000
28,000
Monthly Active Developers vs Crypto Network Value
$0.0T
$0.5T
$1.0T
$1.5T
$2.0T
$2.5T
$3.0T
$3.5T
Network
Value
Jan 2014 Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022
Developer All-Time High
During Last Market Cycle
10,893
Developers
2,850
+8,043 monthly active
developers through the
last market cycle
Network Value Climb
Network Value Trough
Total Network Value is the value of total crypto market cap from Coingecko. Total Network Value began to climb May 11, 2017. Total Network Value reached a trough Dec 14, 2018. Previous Dev ATH was on Dec 16, 2018.
Developers

15. during the current market cycle: monthly active developers grew by
AND Hit an all-time high
+15,621
15
developerreport.com
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
22,000
24,000
26,000
28,000
Monthly Active Developers vs Crypto Network Value
$0.0T
$0.5T
$1.0T
$1.5T
$2.0T
$2.5T
$3.0T
$3.5T
Network
Value
Jan 2014 Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022
Total Network Value is the value of total crypto market cap from Coingecko. Total Network Value began to climb May 11, 2020. Total Network Value reached an All-Time High Nov 8, 2021.
Developers
10,702
Developer All-Time High
26,323
Network Value Climb
+15,621 monthly active
developers & hit an all-time high
Developers

16. from last cycle’s developer peak to this cycle’s developer peak:
Monthly active developers grew by +141%
16
developerreport.com
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
22,000
24,000
26,000
28,000
Monthly Active Developers vs Crypto Network Value
$0.0T
$0.5T
$1.0T
$1.5T
$2.0T
$2.5T
$3.0T
$3.5T
Network
Value
Jan 2014 Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022
Developer All-Time High
During Last Market Cycle
10,893
Previous Developer ATH was on Dec 16, 2018. Developer All Time High was on June 16, 2022.
+141%
Developer All-Time High
26,323
Developers

17. Developers are staying while network value is down: developers are
down from peak while network value is down
-11% -71%
17
developerreport.com
-11%
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
22,000
24,000
26,000
28,000
Monthly Active Developers vs Crypto Network Value
$0.0T
$0.5T
$1.0T
$1.5T
$2.0T
$2.5T
$3.0T
$3.5T
Network
Value
Jan 2014 Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022
-71%
Total Network Value is the value of total crypto market cap from Coingecko. Total Network Value reached an all-time high Nov 8, 2021.
Nov 2021
Network Value Peak
Developer All-Time High
26,323
Dec 2022
23,343
Developers

18. developers are sticky: network value is roughly back to January 2018
levels, but monthly active developers increased +297%
18
developerreport.com
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
22,000
24,000
26,000
28,000
Monthly Active Developers vs Crypto Network Value
$0.0T
$0.5T
$1.0T
$1.5T
$2.0T
$2.5T
$3.0T
$3.5T
Network
Value
Jan 2014 Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022
Dec 2022
23,343 Developers
Jan 2018
5,879 Developers
+297%
Network Value Dec 2022
is roughly back to Jan 2018
T
otal Network Value is the value of total crypto market cap from Coingecko.
Developers

19. How many new developers entered crypto?
19

20. The highest number of new developers ever wrote open-source crypto
code in 2022: new developers
61,127
20
developerreport.com
2022 saw the highest
number of new crypto
developers in history
2,961 3,141
5,285
13,546
30,717
22,789
21,615
48,596
61,127
2014 2015 2016 2017 2018 2019 2020 2021 2022
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
45,000
50,000
55,000
60,000
65,000
Number of Developers by Year Joined
Developers
All 2022 numbers end at Dec 15, 2022. This means 2022 new developers is an undercounting of new developers for that year.

21. In the 2021 & 2022 market upswing, new developers contributed
open-source code, A INCREASE compared to 2017 and 2018 at 44,263
109,723
+148%
21
developerreport.com
109,723 new developers
contributed open source
code in this market cycle
44,263 new developers
contributed open-source
code in the last market cycle
Number of Developers by Year Joined
All 2022 numbers end at Dec 15, 2022. This means 2022 new developers is an undercounting of new developers for that year.
2,961 3,141
5,285
13,546
30,717
22,789
21,615
48,596
61,127
2014 2015 2016 2017 2018 2019 2020 2021 2022
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
45,000
50,000
55,000
60,000
65,000
Developers

22. 52%ofmonthlyactivedevelopersstartedcontributingin2022
22
developerreport.com
Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Percent
of
Developers
Before 2016
2016
2017
2018
2019
2020
2021
2022
Developers by Start Year
52% of active developers today
come from 2022
52% of active developers today
come from 2022
Before 2016

23. How active are developers?
Let’s look at activity by frequency and Volume of commits
23

24. Frequency: 30% of devs commit code 1 day in a month, 50% commit code
2-9 days, and 20% of developers commit code 10+ days in a month
24
developerreport.com
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
*Developers active for one-day in a month are not necessarily One-Time developers. One-Time developers are those who were active only one day in a 3-month period.
All Crypto Developers by Active Days Histogram
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
5,500
6,000
6,500
7,000
7,500
8,000
One day of contribution:
~30% of devs
2 to 9 days of contributions:
~50% of devs
10+ days of contributions:
~20% of devs
Days with Code Commits
Developers

25. We can bucket these developers into One-Time, Part-Time, & Full-time
25
developerreport.com
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28+
All Crypto Developers by Active Days Histogram
0
8,000
Part-Time
Developers
Full-Time
Developers
Days with Code Commits
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
5,500
6,000
6,500
7,000
7,500
Developers
One-Time Developer
Candidates*
*Developers active for one-day in a month are not necessarily One-Time developers. One-Time developers are those who were active only one day in a 3-month period.

26. Volume: There are in open-source crypto
471k+ monthly commits
26
developerreport.com
0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000
450,000
500,000
550,000
600,000
All Crypto Monthly Commits
471,739 monthly open-source crypto commits
Commits
Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022

27. We can segment by frequency of contribution: Full-time devs
contribute the most commits: commits a month
356k
27
developerreport.com
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000
450,000
All Crypto Monthly Commits
Full-Time developers contribute
356,208 commits per month
Part-Time
Full-Time
One-Time
0
Commits
Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022

28. Full-time Developers are the biggest code contributors: Full-time
developers contribute of all commits
76%
28
developerreport.com
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Percent
of
Commits
76% of commits from
Full-Time Devs
76% of commits from
Full-Time Devs
One-Time
Devs
Part-Time
Devs
Full-Time
Devs
Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022
All Monthly Commits

29. part-time Developers contribute more commits in bull markets
29
developerreport.com
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Percent
of
Commits
Part-Time developers contribute close to
40% of commits in the 2017 bull market
and 30%+ during 2021 bull market
Part-Time developers contribute close to
40% of commits in the 2017 bull market
and 30%+ during 2021 bull market
Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022
One-Time
Devs
Part-Time
Devs
Full-Time
Devs
All Monthly Commits

30. Apply this frequency based segmentation
to developers in 2022…
30

31. +5% monthly active developers from December 2021 to December 2022
31
developerreport.com
Jan 2010 Jan 2012 Jan 2014 Jan 2016 Jan 2018 Jan 2020 Jan 2022
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
22,000
24,000
26,000
28,000
All Crypto Monthly Active Developers Since 2009
+5%
Dec 2021
22,309
Dec 2022
23,343
+1,034
Developers

32. We can segment developers based on frequency of contribution
32
developerreport.com
Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
One-Time
Active just
once in the
last 3 months
Part-Time
Active for
fewer than 10
days per month
Full-Time
Active for 10
or more days
per month
All Crypto Monthly Active Developers
Developers

33. +8% full-time developers year over year to 7,179 Full-Time Developers
33
developerreport.com
Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
Dec 2021
6,658
Dec 2022
12,619
+832
Dec 2021
11,787
Dec 2022
3,545
-319
Dec 2021
3,864
Dec 2022
7,179
+521
+8%
-8%
+7%
Part-Time
Full-Time
One-Time
All Crypto Monthly Active Developers
Developers

34. Developers reached All-time high in June 2022
34
developerreport.com
Jan 2010 Jan 2012 Jan 2014 Jan 2016 Jan 2018 Jan 2020 Jan 2022
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
22,000
24,000
26,000
28,000
All Crypto Monthly Active Developers Since 2009
Jun 2022
All-Time High
26,323
Developers

35. Since All-Time High: monthly active developers fell -11%
35
developerreport.com
Jan 2010 Jan 2012 Jan 2014 Jan 2016 Jan 2018 Jan 2020 Jan 2022
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
22,000
24,000
26,000
28,000
All Crypto Monthly Active Developers Since 2009
-11%
Jun 2022
All-Time High
26,323
Dec 2022
23,343
-2,980
Developers

36. Since All-time high: Developer losses are mostly from Part-time ( )
and one-time ( ) Developers
-13%
-14%
36
developerreport.com
Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
All Crypto Monthly Active Developers
June 2022
14,486
Dec 2022
12,619
-1,867
June 2022
7,707 Dec 2022
7,179
-528
June 2022
4,130
Dec 2022
3,545
-585
-13%
-7%
-14%
Part-Time
Full-Time
One-Time
Developers

37. How do we reconcile
61k developers who contributed to crypto in 2022
vs. 23k monthly active developers?
37

38. We can look more granularly at retention by monthly cohorts
38
developerreport.com
Each row represents the developers
that joined each month
Each column represents the percent of developers from
that month that commited code the next month
100%
80%
60%
40%
20%
15%
Year 7
1 2 3 4 5 6
2015
2016
2017
2018
2019
2020
2021
2022
Full-Time Developer Retention

39. FULL-TIME Developers have significantly better retention over time:
of Full-Time Devs continued to contribute through year 2
30%
39
developerreport.com
7
1 2 3 4 5 6
2015
2016
2017
2018
2019
2020
2021
2022
Full-Time Developer Retention
7
1 2 3 4 5 6
100%
80%
60%
40%
20%
15%
2015
2016
2017
2018
2019
2020
2021
2022
Total Developer Retention
Year
Only 8% of total developers
continued to commit code
through Year 2
Only 8% of total developers
continued to commit code
through Year 2
On average, 30% of full-time
developers continued to
commit code through Year 2
On average, 30% of full-time
developers continued to
commit code through Year 2

40. How active were developers who left?
40

41. 95%ofmonthlydeveloperswholeaveareone-timeand
part-timedevelopers
41
developerreport.com
Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Percent
of
Churned
Developers
All Developer Churn
One-Time
Part-Time
Full-Time
95% of all churned
developers are One-Time
and Part-Time
95% of all churned
developers are One-Time
and Part-Time

42. Heavy contributors stay: full-time developers only account
for of churn
5%
42
developerreport.com
Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Percent
of
Churned
Developers
All Developer Churn
5% of churn
from Full-Time
developers
5% of churn
from Full-Time
developers
One-Time
Part-Time
Full-Time

43. What are these developers working on?
Let’s segment by Ecosystems
43

44. Bitcoin & ethereum account for of all developers in crypto
28%
44
developerreport.com
Bitcoin
Ethereum
Other
Top 200
from 2022
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
55%
60%
65%
70%
75%
80%
85%
90%
95%
100%
Percentage
of
Developers
Normalized Monthly Active Developers - Top 200 from 2022 vs Ethereum vs Bitcoin vs Other
Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022
BTC & ETH account for 28% of
all developers in crypto
BTC & ETH account for 28% of
all developers in crypto

45. 50%ofdevelopersworkinthetop200ecosystemsbynetworkvalue
outsideofBitcoin&ethereum
45
developerreport.com
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
55%
60%
65%
70%
75%
80%
85%
90%
95%
100%
Percentage
of
Developers
Normalized Monthly Active Developers - Top 200 from 2022 vs Ethereum vs Bitcoin vs Other
Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022
50% of all developers in crypto today work in
the Top 200 ecosystems (excl ETH & BTC)
50% of all developers in crypto today work in
the Top 200 ecosystems (excl ETH & BTC)
Bitcoin
Ethereum
Other
Top 200
from 2022

46. Let’s deep dive into Bitcoin, Ethereum,
and other top 200 ecosystems…
46

47. Ecosystem Deep Dive
electriccapital.com
47

48. Ecosystems are comprised of community and protocol level developers
48
developerreport.com
Ecosystems are comprised of community
and protocol level developers
developerreport.com 48
Ecosystem Developers
Developers roll into a broad ecosystem of related communities with shared
security at the base layer. Examples: Ethereum, Solana, Polygon, and NEAR.
Community Developers
Developers working on decentralized applications, tooling,
docs, wallets, and anything else furthering the project.
Protocol Developers
Working on the core protocol only

49. Community example: optimism
Communities can live in ecosystems; the Optimism
ecosystem lives inside the Ethereum ecosystem.
developerreport.com 49
Optimism ProtocoK
I Contracts (L1 and
L2 smart contracts
for Optimism9
I Cannon
(fault prover)
Optimism Communitt
I Velodromn
I Lyrc
I Perpetual Protocoj
I Sonne Financn
I & many more! Optimism
Protocol
Developers
Commmunity Developers
Velodrome, Lyra,
Perpetual, etc.
Parent Ecosystem
Ethereum

50. Data & Chart Final
BITCOIN
50

51. Bitcoin monthly active devs are flat between Dec 2021 and Dec 2022
51
developerreport.com
Bitcoin Monthly Active Developers
Jan 2010 Jan 2012 Jan 2014 Jan 2016 Jan 2018 Jan 2020 Jan 2022
0
100
200
300
400
500
600
700
800
900
1,000
1,100
Dec 2022
920
-24
Dec 2021
944
Developers

52. Bitcoin: most yoy loss comes from One-time developers ( )
-32%
52
developerreport.com
Bitcoin Monthly Active Developers
Jan 2010 Jan 2012 Jan 2014 Jan 2016 Jan 2018 Jan 2020 Jan 2022
0
50
100
150
200
250
300
350
400
450
500
550
600
-4%
-32%
Dec 2022
300
-12
Dec 2021
312
Dec 2021
166
Dec 2022
507
+41
Dec 2021
466
9%
Part-Time
Full-Time
One-Time
Dec 2022
113
-53
Developers

53. 100+ new developers contribute to bitcoin projects every month
53
developerreport.com
51
35
54
73
32
56
57
55
51
64
117
99
42
33
32
58
97
97
85
155
130
140
93
162
103
151
68
99
115
65
101
72
138
129
128
124
159
145
113
141
133
112
142
129
157
126
115
130
126
154
112
134
145
149
123
147
138
131
107
190
146
114
137
146
172
160
154
154
171
160
171
160
139
158
214
142
174
150
152
178
185
150
163
Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022
0
20
40
60
80
100
120
140
160
180
200
220
Number of Developers by Month Joined
Roughly 100 developers
join monthly since
November 2017
Roughly 100 developers
join monthly since
November 2017
Developers

54. +1,000 NEW bitcoin developers per year across market conditions
54
developerreport.com
2014 2015 2016 2022
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
Number of Developers by Year Joined
2017 2018 2019 2020 2021
560
490
571
1,018
1,607
1,567 1,580
1,921 1,908
1000+ developers
join yearly since 2017
1000+ developers
join yearly since 2017
Developers

55. Ethereum
55

56. +5% monthly active ethereum developers from dec 2021 to dec 2022
56
developerreport.com
Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
5,500
6,000
6,500
7,000
Ethereum Monthly Active Developers Dec 2022
5,734
+263
Dec 2021
5,471
+5%
Developers

57. Ethereum’s growth comes from Full-Time ( ) and Part-time ( )
developers, losses come from one-time developers ( )
+9% +6%
-8%
57
developerreport.com
Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2022
Jan 2021
0
500
1,000
1,500
2,000
2,500
3,000
4,000
3,500
Ethereum Monthly Active Developers
+6%
Dec 2022
3,092
+186
Dec 2022
1,873
+148
Dec 2021
2,906
+9%
-8%
Dec 2021
1,725
Dec 2022
769
-71
Dec 2021
840
Part-Time
Full-Time
One-Time
Developers

58. Since all-time high: decline in monthly active ethereum devs
-16%
58
developerreport.com
Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
5,500
6,000
6,500
7,000
Ethereum Monthly Active Developers
Dec 2022
5,734
-1,126
June 2022
6,860
-16%
Developers

59. Since aTH: most loss comes from one-time ( ) & part-time ( ) devs
-30% -16%
59
developerreport.com
Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2022
Jan 2021
0
500
1,000
1,500
2,000
2,500
3,000
4,000
3,500
Ethereum Monthly Active Developers
-16%
Dec 2022
3,092
-599
Dec 2022
1,873
-194
Jun 2022
3,691
-9%
-30%
Jun 2022
2,067
Jun 2022
1,102
Part-Time
Full-Time
One-Time
Dec 2022
769
-333
Developers

60. 2022: new Ethereum developers, The highest in history
+14,691
60
developerreport.com
2014 2015 2016 2022
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
11,000
12,000
13,000
14,000
15,000
16,000
Number of Developers by Year Joined
2017 2018 2019 2020 2021
376 466
967
2,724
6,120
4,751
5,666
11,366
14,691
2022
All-Time High
Developers

61. 800+ new ethereum developers per month since Feb 2021
61
developerreport.com
Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022
0
100
200
300
400
500
600
700
800
900
1,000
1,100
1,200
1,300
1,400
1,500
1,600
Number of Developers by Month Joined
121
337
274
268
277
201
127
355
271
277
105
111
485
568
472
463
632
460
456
341
470
759
555
459
366
389
400
381
396
449
405
371
495
399
307
393
758
327
347
616
375
614
652
363
355
475
329
455
1,107
688
863
1,150
881
912
612
967
1,157
990
863
1,176
1,430
1,476
1,235
1,205
1,347
1,398
833
1,477
949
1,509
1,145
800 developers join
monthly since Feb 2021
800 developers join
monthly since Feb 2021
Developers

62. Ethereum accounts for of all new developers in crypto
16%+
62
developerreport.com
Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
5,500
6,000
6,500
7,000
7,500
8,000
Ethereum
Ecosystem
Ethereum Developers by Month Joined
1,398
405
2,025
614
1,983
381
1,888
355
1,710
271
1,200
337
1,640
105
538
268
1,472
277
1,938
111
582
121
720
127
755
277
955
201
772
274
1,379
456
2,278
463
2,627
470
2,855
568
2,610
555
2,579
460
2,578
485
2,764
459
2,204
759
2,871
472
2,734
632
2,679
341
2,013
396
1,885
495
2,273
389
2,020
399
1,977
366
1,937
449
2,244
371
1,762
393
1,806
400
1,613
307
1,342
329
1,520
363
1,640
455
1,753
616
2,047
347
1,698
758
2,350
355
1,697
652
1,948
327
1,468
375
1,709
475
1,789
1,176
5,084
1,150
4,471
612
2,035
967
4,366
990
4,189
863
3,523
1,157
5,329
863
4,105
881
3,752
1,107
4,851
688
2,401
912
4,483
1,476
5,934
1,509
5,672
1,145
4,731
833
4,262
1,205
5,451
1,477
6,198
1,430
5,230
949
4,429
1,347
5,369
1,235
4,777
5,555
Other
Developers

63. Let’s dive into the top 200 ecosystems by network value
outside of bitcoin and ethereum...
63

64. We can break out ethereum and Bitcoin from the top 200:
the top 200 grew year over year
+12%
64
developerreport.com
Ethereum
Other
Bitcoin
Top 200
from 2022
Jan 2010 Jan 2012 Jan 2014 Jan 2016 Jan 2018 Jan 2020 Jan 2022
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
11,000
12,000
13,000
Top 200 from 2022 (Excluding Bitcoin & Ethereum) vs Other Ecosystems
"Other" category represents ecosystems
with Network Value below the Top 200
"Other" category represents ecosystems
with Network Value below the Top 200
+12%
Dec 2022
11,658
+1,273
Dec 2021
10,385
Top 200 determined based on “Network Value” measurement as of 1/1/23 combining CoinMarketCap, CoinGecko, and private market valuations.
Developers

65. Since peak: in the top 200, monthly active developers
declined -8%
65
developerreport.com
Jan 2010 Jan 2012 Jan 2014 Jan 2016 Jan 2018 Jan 2020 Jan 2022
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
11,000
12,000
13,000
Top 200 from 2022 (Excluding Bitcoin & Ethereum) vs Other Ecosystems
-8%
Dec 2022
11,670
-1,055
June 2022
12,725
Top 200 determined based on “Network Value” measurement as of 1/1/23 combining CoinMarketCap, CoinGecko, and private market valuations.
Developers
Ethereum
Other
Bitcoin
Top 200
from 2022

66. prior top 200 cohorts are not as retentive as ethereum
66
developerreport.com
Top 200 from 2019
Top 200 from 2021
Ethereum
Top 200 from 2017
Top 200 from 2018
Top 200 from 2016
Bitcoin
Top 200 from 2020
Top 200 from 2022
Jan 2010 Jan 2012 Jan 2014 Jan 2016 Jan 2018 Jan 2020 Jan 2022
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
11,000
12,000
13,000
Top 200 from 2016 to 2022
The Top 200 from 2019 and earlier had more developers than
Ethereum in 2018, but fewer developers than Ethereum today
The Top 200 from 2019 and earlier had more developers than
Ethereum in 2018, but fewer developers than Ethereum today
Top 200 determined based on “Network Value” measurement as of 1/1/23 combining CoinMarketCap, CoinGecko, and private market valuations.
Developers

67. How do individual ecosystems
compare year over year?
Let’s compare
december 2021 vs december 2022
Top 200 determined based on “Network Value” measurement as of 1/1/23 combining CoinMarketCap, CoinGecko, and private market valuations.
67

68. we can compare december 2021 vs december 2022 to visualize year over
year Developer growth for each ecosystem
68
developerreport.com
200 400 600 800 1,000 1,200 1,400 1,600 1,800 2,000
Full-Time Developers - Dec 2021
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
0
2,200
Full-Time
Developers
-
Dec
2022
The x-axis indicates the
average monthly Full-
Time Developers in 2021
The x-axis indicates the
average monthly Full-
Time Developers in 2021
The y-axis indicates the average
monthly Full-Time Developers in 2022
The y-axis indicates the average
monthly Full-Time Developers in 2022
Full-Time Developers
We only count open-source developers. The numbers are averages for the first 2 weeks of December before developers go on holiday at the end of the year and may differ from December numbers from earlier time series.
1000+ devs
301-1000 devs
101-300 devs
51-100 devs
41-50 devs
31-40 devs
21-30 devs
11-20 devs
2-10 devs
1 dev
0 devs
Gained
Developers
Lost
Developers

69. Let’s start with the most important developer segment:
full-time developers
Top 200 determined based on “Network Value” measurement as of 1/1/23 combining CoinMarketCap, CoinGecko, and private market valuations
69

70. Ethereum full-time dev community is the next largest community
2.5x
70
developerreport.com
200 400 600 800 1,000 1,200 1,400 1,600 1,800 2,000
Full-Time Developers - Dec 2021
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
0
2,200
Full-Time
Developers
-
Dec
2022
Bitcoin
Ethereum
Cosmos
Solana
Polkadot
Dec 2021: 1,717
Dec 2022: 1,903
Dec 2021: 694
Dec 2022: 764
Full-Time Developers
We only count open-source developers. The numbers are averages for the first 2 weeks of December before developers go on holiday at the end of the year and may differ from December numbers from earlier time series.
1000+ devs
301-1000 devs
101-300 devs
51-100 devs
41-50 devs
31-40 devs
21-30 devs
11-20 devs
2-10 devs
1 dev
0 devs
Gained Developers
Lost Developers

71. Ecosystems with 300+ full-time devs ALL grew: Ethereum, polkadot,
cosmos, solana, & bitcoin
71
developerreport.com
200
0 400 600 800 1,000 1,200 1,400 1,600 1,800 2,000
Full-Time Developers - Dec 2021
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
0
2,200
Full-Time
Developers
-
Dec
2022
Bitcoin
Ethereum
Cosmos
Solana
Polkadot
Full-Time Developers
We only count open-source developers. The numbers are averages for the first 2 weeks of December before developers go on holiday at the end of the year and may differ from December numbers from earlier time series.
1000+ devs
301-1000 devs
101-300 devs
51-100 devs
41-50 devs
31-40 devs
21-30 devs
11-20 devs
2-10 devs
1 dev
0 devs
Gained Developers
Lost Developers

72. let’s zoom in to better visualize change year over year
for other ecosystems
72
developerreport.com
Let’s focus
on this range
Let’s focus
on this range
1000+ devs
301-1000 devs
101-300 devs
51-100 devs
41-50 devs
31-40 devs
21-30 devs
11-20 devs
2-10 devs
1 dev
0 devs
200
0 400 600 800 1,000 1,200 1,400 1,600 1,800 2,000
Full-Time Developers - Dec 2021
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
0
2,200
Full-Time
Developers
-
Dec
2022
Bitcoin
Ethereum
Cosmos
Solana
Polkadot
Full-Time Developers
We only count open-source developers. The numbers are averages for the first 2 weeks of December before developers go on holiday at the end of the year and may differ from December numbers from earlier time series.
Gained Developers
Lost Developers

73. Zooming in on ecosystems with 100 to 300
full-time developers...
T
op 200 determined based on “Network Value” measurement as of 1/1/23 combining CoinMarketCap, CoinGecko, and private market valuations.
73

74. ecosystems with 200+ full-time developers: Kusama ,
Polygon , and NEAR grew year over year
+25%
+22% +22%
74
developerreport.com
Full-Time Developers - Dec 2021
200
100
80
120
140
160
180
220
240
260
60
40
20
0
280
Full-Time
Developers
-
Dec
2022
Cardano
Tezos
BNB Chain
Internet Computer
Starknet
Polygon
NEAR
Kusama
101-300 devs
51-100 devs
41-50 devs
31-40 devs
21-30 devs
11-20 devs
2-10 devs
1 dev
0 devs
Full-Time Developers
+50%
+100%
We only count open-source developers. The numbers are averages for the first 2 weeks of December before developers go on holiday at the end of the year and may differ from December numbers from earlier time series.
Gained Developers
Lost Developers
200
100
80 120 140 160 180 220 240
60
40
20 260
0

75. ecosystems with 100+ full-time developers: starknet , Internet
computer , & Cardano grew yoy while tezos stayed flat
+243%
+94% +14%
75
developerreport.com
Full-Time Developers - Dec 2021
200
100
80
120
140
160
180
220
240
260
60
40
20
0
280
Full-Time
Developers
-
Dec
2022
Cardano
Tezos
BNB Chain
Internet Computer
Polygon
NEAR
Kusama
101-300 devs
51-100 devs
41-50 devs
31-40 devs
21-30 devs
11-20 devs
2-10 devs
1 dev
0 devs
Full-Time Developers
Starknet
We only count open-source developers. The numbers are averages for the first 2 weeks of December before developers go on holiday at the end of the year and may differ from December numbers from earlier time series.
Gained
Developers
Lost
Developers
200
100
80 120 140 160 180 220 240
60
40
20 260
0
+50%
+100%

76. Zooming in on ecosystems with 50 to 100
full-time developers...
T
op 200 determined based on “Network Value” measurement as of 1/1/23 combining CoinMarketCap, CoinGecko, and private market valuations.
76

77. aptos & Sui are the fastest growing full-time developer ecos of 2022
77
developerreport.com
101-300 devs
51-100 devs
41-50 devs
31-40 devs
21-30 devs
11-20 devs
2-10 devs
1 dev
0 devs
100
20 40 60 80 120
30 50 70 90 110
10
0
Full-Time Developers - Dec 2021
20
40
60
80
100
10
0
30
50
70
90
110
120
130
140
Full-Time
Developers
-
Dec
2022
Basic Attention Token
Gnosis
The Graph
Filecoin
Internet Computer
Algorand
Celo
Arbitrum
Flow
Avalanche
Moonbeam
Optimism
Osmosis
Sui Network
Starknet
Aptos
Full-Time Developers
+100% +50%
Gained Developers
Lost Developers
We only count open-source developers. The numbers are averages for the first 2 weeks of December before developers go on holiday at the end of the year and may differ from December numbers from earlier time series.

78. ecosystems with 50+ full-time devs: osmosis , arbitrum ,
AND optimism grew year over year
+107% +68%
+68%
78
developerreport.com
101-300 devs
51-100 devs
41-50 devs
31-40 devs
21-30 devs
11-20 devs
2-10 devs
1 dev
0 devs
100
20 40 60 80 120
30 50 70 90 110
10
0
Full-Time Developers - Dec 2021
20
40
60
80
100
10
0
30
50
70
90
110
120
130
140
Full-Time
Developers
-
Dec
2022
Basic Attention Token
Gnosis
The Graph
Filecoin
Internet Computer
Algorand
Celo
Arbitrum
Flow
Avalanche
Moonbeam
Optimism
Osmosis
Sui Network
Starknet
Aptos
Full-Time Developers
Gained
Developers
Lost
Developers
We only count open-source developers. The numbers are averages for the first 2 weeks of December before developers go on holiday at the end of the year and may differ from December numbers from earlier time series.
+100% +50%

79. The graph , filecoin , gnosis , basic attention
token , moonbeam , algorand gained devs yoy
+47% +40% +36%
+30% +27% +17%
79
developerreport.com
101-300 devs
51-100 devs
41-50 devs
31-40 devs
21-30 devs
11-20 devs
2-10 devs
1 dev
0 devs
100
20 40 60 80 120
30 50 70 90 110
10
0
Full-Time Developers - Dec 2021
20
40
60
80
100
10
0
30
50
70
90
110
120
130
140
Full-Time
Developers
-
Dec
2022
Basic Attention Token
Gnosis
The Graph
Filecoin
Internet Computer
Algorand
Celo
Arbitrum
Flow
Avalanche
Moonbeam
Optimism
Osmosis
Sui Network
Starknet
Aptos
Full-Time Developers
Gained
Developers
Lost
Developers
We only count open-source developers. The numbers are averages for the first 2 weeks of December before developers go on holiday at the end of the year and may differ from December numbers from earlier time series.
+100% +50%

80. By Total Developers...
80
T
op 200 determined based on “Network Value” measurement as of 1/1/23 combining CoinMarketCap, CoinGecko, and private market valuations.

81. Ethereum is the largest total (full-time + part-time + one-time)
developer ecosystem and larger than the next
2.8x
81
developerreport.com
500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 5,000 5,500 6,000 6,500 6,500
0
Total Developers - Dec 2021
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
5,500
6,000
6,500
7,000
7,500
Ethereum
Cosmos
Solana Polkadot
Polygon
Total Developers
Gained Developers
Lost Developers
Dec 2021: 5,426
Dec 2022: 5,750
Dec 2021: 2,012
Dec 2022: 2,034
0
We only count open-source developers. The numbers are averages for the first 2 weeks of December before developers go on holiday at the end of the year and may differ from December numbers from earlier time series.
Total
Developers
-
Dec
2022
1000+ devs
301-1000 devs
101-300 devs
51-100 devs
41-50 devs
31-40 devs
21-30 devs
11-20 devs
2-10 devs
1 dev
0 devs
+100% +50%

82. ecosystems with 1,000+ total developers grew: Solana ,
polygon , cosmos , and polkadot
+83%
+40% +25% +2%
82
developerreport.com
500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 5,000 5,500 6,000 6,500
0
Total Developers - Dec 2021
500
0
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
5,500
6,000
6,500
7,000
7,500
Ethereum
Cosmos
Solana Polkadot
Polygon
1000+ devs
301-1000 devs
101-300 devs
51-100 devs
41-50 devs
31-40 devs
21-30 devs
11-20 devs
2-10 devs
1 dev
0 devs
Total Developers
We only count open-source developers. The numbers are averages for the first 2 weeks of December before developers go on holiday at the end of the year and may differ from December numbers from earlier time series.
Total
Developers
-
Dec
2022
Gained Developers
Lost Developers
+100% +50%

83. ecosystems with 300+ total devs: starknet , icp , near ,
the graph , Kusama , Bitcoin , cardano , & Celo flat
+134% +48% +41%
+21% +9% +2% +2%
83
developerreport.com
We only count open-source developers. The numbers are averages for the first 2 weeks of December before developers go on holiday at the end of the year and may differ from December numbers from earlier time series.
Total Developers
301-1000 devs
101-300 devs
51-100 devs
41-50 devs
31-40 devs
21-30 devs
11-20 devs
2-10 devs
1 dev
0 devs
400 600
200 800
100 300 500 700 900 1,000
0
Total Developers - Dec 2021
400
600
200
800
100
300
500
700
900
1,000
0
Bitcoin
Cardano
Tezos
BNB Chain
The Graph
Internet Computer
NEAR
Celo
Avalanche
Kusama
Starknet
Total
Developers
-
Dec
2022
Gained
Developers
Lost
Developers
+100% +50%

84. ecosystems with 100+ total devs: Sui , Aptos , MIna ,
osmosis , Hedera , Optimism , & arbitrum
+1,043% +733% +113%
+86% +82% +78% +50%
84
developerreport.com
101-300 devs
51-100 devs
41-50 devs
31-40 devs
21-30 devs
11-20 devs
2-10 devs
1 dev
0 devs
Total Developers
200
100
50 150 250
0
Total Developers - Dec 2021
200
100
300
40
60
80
120
140
160
180
220
240
260
280
20
0
Stellar
XRP
Basic Attention Token
Gnosis Stacks
Filecoin
Algorand
Mina Protocol
Hedera
MultiversX (Elrond)
ZKSync
Arbitrum Flow
Moonbeam
Optimism
Osmosis
Sui Network
Aptos
We only count open-source developers. The numbers are averages for the first 2 weeks of December before developers go on holiday at the end of the year and may differ from December numbers from earlier time series.
Total
Developers
-
Dec
2022
Gained Developers
Lost Developers
+100% +50%

85. ecosystems with 100+ total devs: Gnosis , filecoin , Basic
attention token , multiversx , moonbeam , & zksync
+37% +36%
+19% +18% +7% +4%
85
developerreport.com
101-300 devs
51-100 devs
41-50 devs
31-40 devs
21-30 devs
11-20 devs
2-10 devs
1 dev
0 devs
Total Developers
200
100
50 150 250
0
200
100
300
40
60
80
120
140
160
180
220
240
260
280
20
0
Stellar
XRP
Basic Attention Token
Gnosis Stacks
Filecoin
Algorand
Mina Protocol
Hedera
MultiversX (Elrond)
ZKSync
Arbitrum Flow
Moonbeam
Optimism
Osmosis
Sui Network
Aptos
Total Developers - Dec 2021
We only count open-source developers. The numbers are averages for the first 2 weeks of December before developers go on holiday at the end of the year and may differ from December numbers from earlier time series.
Total
Developers
-
Dec
2022
Gained
Developers
Lost
Developers
+100% +50%

86. ecosystems with 40+ total devs: TON , Astar , Klaytn ,
celestia , decentraland , snx , & lisk
+487% +92% +83%
+79% +63% +55% +55%
86
developerreport.com
100
50 150
0
Total Developers - Dec 2021
EOS
Tron
Monero
IOTA
Maker
Zcash
Chainlink
Lisk
Holochain
Dash
Decentraland
Oasis
Harmony
Arweave
Chia
Fantom
Helium
Synthetix Uniswap
Aave
Klaytn
Balancer
Lido
Astar
EVMOS
Celestia
TON
Terra
20
0
40
60
80
100
120
140
160
180
200
Total Developers
+50% 101-300 devs
51-100 devs
41-50 devs
31-40 devs
21-30 devs
11-20 devs
2-10 devs
1 dev
0 devs
Total
Developers
-
Dec
2022
Gained Developers
Lost Developers

87. ecos with 40+ total devs cont’d: EVMOS , Uniswap , Dash ,
Maker , Zcash , Holochain , Aave , Lido , Tron ,
Balancer & Waves flat
+44% +29% +13%
+13% +9% +7% +6% +5% +2%
87
developerreport.com
100
50 150
0
Total Developers - Dec 2021
EOS
Tron
Monero
IOTA
Maker
Zcash
Chainlink
Lisk
Holochain
Dash
Decentraland
Oasis
Harmony
Arweave
Chia
Fantom
Helium
Synthetix
Uniswap
Aave
Klaytn
Balancer
Lido
Astar
EVMOS
Celestia
TON
Terra
20
0
40
60
80
100
120
140
160
180
200
Total Developers
101-300 devs
51-100 devs
41-50 devs
31-40 devs
21-30 devs
11-20 devs
2-10 devs
1 dev
0 devs
Total
Developers
-
Dec
2022
Gained
Developers
Lost
Developers
+50%

88. Terra is down total developers...what happened to terra?
-57%
88
developerreport.com
T
erra
Dec 2021: 157 devs
Dec 2022: 67 devs
T
erra
Dec 2021: 157 devs
Dec 2022: 67 devs
100
50 150
0
Total Developers - Dec 2021
EOS
Tron
Monero
IOTA
Maker
Zcash
Chainlink
Lisk
Holochain
Dash
Decentraland
Oasis
Harmony
Arweave
Chia
Fantom
Helium
Synthetix
Uniswap
Aave
Klaytn
Balancer
Lido
Astar
EVMOS
Celestia
TON
Terra
20
0
40
60
80
100
120
140
160
180
200
Total Developers
101-300 devs
51-100 devs
41-50 devs
31-40 devs
21-30 devs
11-20 devs
2-10 devs
1 dev
0 devs
Total
Developers
-
Dec
2022
G
a
i
n
e
d
D
e
v
e
l
o
p
e
r
s
L
o
s
t
D
e
v
e
l
o
p
e
r
s
+50%

89. What happened to Terra?
Top 200 determined based on “Market Value” measurement as of 1/1/23 combining CoinMarketCap, CoinGecko, and private market valuations
89

90. terra grew to developers in 3.5 yrs from launch to network halt
175
90
developerreport.com
Jan 2019 Jan 2020 Jan 2021 Jan 2022
0
20
40
60
80
100
120
140
160
180
200
Terra Classic Monthly Active Developers
May 2022
Network Halt
175
April 2019
Terra
Launch
First
Terra
Commit
3
Post-
Launch
10
Developers

91. 7 days after the network halted, terra 2.0 launched
91
developerreport.com
0
20
40
60
80
100
120
140
160
180
200
Developers
Terra Classic Monthly Active Developers
Jan 2019
Jan 2019 Jan 2020 Jan 2021 Jan 2022 Oct 2022
7 days of
deliberations
Dec
2022
67
Terra 2.0
first commit
Network
Halt

92. Let’s look at where active terra developers went
after Terra’s collapse
92
developerreport.com
H1 2022 H2 2022
49 Other
5 Solana
42 Cosmos
180 No Commits in
Open-Source Crypto
35 Terra 2.0
11 Osmosis
323 developers
were active in
Terra in H1 2022
323 developers
were active in
Terra in H1 2022
Terra developers who
were active in H1 2022
before Terra’s collapse
Terra developers who
were active in H1 2022
before Terra’s collapse
Terra developers who
were active in H2 2022
after Terra’s collapse
Terra developers who
were active in H2 2022
after Terra’s collapse
323
Terra
Classic

93. 56%ofterradevsactiveinh12022stoppedcontributing
toopensourcecryptorepositories
93
developerreport.com
56% stopped
contributing
code to
open-source
crypto
56% stopped
contributing
code to
open-source
crypto
H1 2022 H2 2022
49 Other
5 Solana
42 Cosmos
180 No Commits in
Open-Source Crypto
35 Terra 2.0
11 Osmosis
323
Terra
Classic

94. 42%ofterradevelopersmigratedtoanothercryptoecosystem:
thelargestsharewenttocosmos(13%)
94
developerreport.com
143 devs went
to other crypto
ecosystems
42 devs went
to Cosmos
143 devs went
to other crypto
ecosystems
42 devs went
to Cosmos
H1 2022 H2 2022
49 Other
5 Solana
42 Cosmos
180 No Commits in
Open-Source Crypto
35 Terra 2.0
11 Osmosis
323
Terra
Classic

95. 9%ofterradevsbegancontributingtoterra2.0
95
developerreport.com
28 devs from the
original Terra project
went on to contribute
to Terra 2.0
28 devs from the
original Terra project
went on to contribute
to Terra 2.0
H1 2022 H2 2022
323
Terra
Classic
49 Other
5 Solana
42 Cosmos
180 No Commits in
Open-Source Crypto
35 Terra 2.0
11 Osmosis

96. zooming out, let’s compare today’s bear market
to the prior one in 2018...
T
op 200 determined based on “Network Value” measurement as of 1/1/23 combining CoinMarketCap, CoinGecko, and private market valuations.
96

97. in 2018, the Top 200 ecosystems had fewer than 25% of total monthly
active developers...
97
developerreport.com
Bitcoin
Ethereum
Other
Top 200
from 2022
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
55%
60%
65%
70%
75%
80%
85%
90%
95%
100%
Normalized Monthly Active Developers - Top 200 from 2022 vs Ethereum vs Bitcoin vs Other
2018: T
op 200 ecosystems
had fewer than 25% of all
monthly active developers
2018: T
op 200 ecosystems
had fewer than 25% of all
monthly active developers
Percentage
of
Developers
Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022

98. but the top 200 ecosystems have grown to 50% of all active devs
98
developerreport.com
Bitcoin
Ethereum
Other
Top 200
from 2022
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
55%
60%
65%
70%
75%
80%
85%
90%
95%
100%
Percentage
of
Developers
Normalized Monthly Active Developers - Top 200 from 2022 vs Ethereum vs Bitcoin vs Other
Top 200 ecosystems
has grown its share of
developers since
2018
Top 200 ecosystems
has grown its share of
developers since
2018
25% in 2018
50% of developers work
in the Top 200 in 2022
Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022

99. Which ecosystems account for most of the developer growth?
Let’s compare
January 2018 vs December 2022
Top 200 determined based on “Network Value” measurement as of 1/1/23 combining CoinMarketCap, CoinGecko, and private market valuations.
99

100. T
op 200 determined based on “Network Value” measurement as of 1/1/23 combining CoinMarketCap, CoinGecko, and private market valuations.
Let’s start with the most important developer segment:
full-time developers
100

101. since 2018: Bitcoin growth in full-time developers
+4x
101
developerreport.com
1000+ devs
301-1000 devs
101-300 devs
51-100 devs
41-50 devs
31-40 devs
21-30 devs
11-20 devs
2-10 devs
1 dev
0 devs
Full-Time Developers
Full-Time
Developers
-
Dec
2022
Bitcoin
Ethereum
Cosmos
Solana
Polkadot
Full-Time Developers - Jan 2018
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
Jan 2018: 81
Dec 2022: 309
We only count open-source developers. The numbers are averages for the first 2 weeks of December before developers go on holiday at the end of the year and may differ from December numbers from earlier time series.
Gained Developers
Lost Developers
+8x
+16x
+4x
20 40 60 80 100 120 140 160 180 200 220 240 260 280 300
0

102. Since 2018: Polkadot, Cosmos, & solana grew to 400+ full-time Devs
16x+
102
developerreport.com
1000+ devs
301-1000 devs
101-300 devs
51-100 devs
41-50 devs
31-40 devs
21-30 devs
11-20 devs
2-10 devs
1 dev
0 devs
+8x
+16x
+4x
Full-Time Developers
Full-Time
Developers
-
Dec
2022
Bitcoin
Ethereum
Cosmos
Solana
Polkadot
Full-Time Developers - Jan 2018
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
We only count open-source developers. The numbers are averages for the first 2 weeks of December before developers go on holiday at the end of the year and may differ from December numbers from earlier time series.
Gained Developers
Lost Developers
20 40 60 80 100 120 140 160 180 200 220 240 260 280 300
0

103. since 2018: Polygon, NEar, Tezos, BNB, internet computer, & starknet
grew to 120+ full-time devs
20x+
103
developerreport.com
Full-Time Developers
101-300 devs
51-100 devs
41-50 devs
31-40 devs
21-30 devs
11-20 devs
2-10 devs
1 dev
0 devs
20 40
10 30
5 15 25 35
0
200
100
40
60
80
120
140
160
180
220
240
260
280
20
0
Cardano
Tezos
BNB Chain
Internet Computer
Polygon
NEAR
Kusama
Starknet
+5x
+10x
+20x
We only count open-source developers. The numbers are averages for the first 2 weeks of December before developers go on holiday at the end of the year and may differ from December numbers from earlier time series.
Gained Developers
Lost Developers
Full-Time Developers - Jan 2018
Full-Time
Developers
-
Dec
2022

104. Since 2018: Avalanche, filecoin, celo, moonbeam, aptos, arbitrum,
optimism, flow, the graph, osmosis, sui, & algorand grew to
50+ full-time devs
104
developerreport.com
101-300 devs
51-100 devs
41-50 devs
31-40 devs
21-30 devs
11-20 devs
2-10 devs
1 dev
0 devs
Full-Time Developers
10
5 15
0
Basic Attention Token
Gnosis
The Graph
Filecoin
Algorand
Celo
Arbitrum
Flow
Avalanche
Moonbeam
Optimism
Osmosis
Sui Network
Aptos
20
40
60
80
10
0
30
50
70
90
100
110
120
We only count open-source developers. The numbers are averages for the first 2 weeks of December before developers go on holiday at the end of the year and may differ from December numbers from earlier time series.
+5x
+10x
+20x
Gained Developers
Lost Developers
Full-Time Developers - Jan 2018
Full-Time
Developers
-
Dec
2022

105. By Total Developers...
T
op 200 determined based on “Network Value” measurement as of 1/1/23 combining CoinMarketCap, CoinGecko, and private market valuations.
105

106. since jan 2018: Bitcoin growth in total developers
+3x
106
developerreport.com
1000+ devs
301-1000 devs
101-300 devs
51-100 devs
41-50 devs
31-40 devs
21-30 devs
11-20 devs
2-10 devs
1 dev
0 devs
Total Developers
100 200 300 400 500 600 700 800 900 1,000 1,100 1,200
0
Total Developers - Jan 2018
500
0
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
5,500
6,000
6,500
Total
Developers
-
Dec
2022
Ethereum
Cosmos
Solana
Polkadot
Polygon
Bitcoin
10x
5x
Jan 2018: 372
Dec 2022: 946
Gained Developers
Lost Developers

107. Ethereum was the biggest ecosystem in 2018 and grew total devs +5x
107
developerreport.com
1000+ devs
301-1000 devs
101-300 devs
51-100 devs
41-50 devs
31-40 devs
21-30 devs
11-20 devs
2-10 devs
1 dev
0 devs
500
0
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
5,500
6,000
6,500
Total
Developers
-
Dec
2022
Total Developers
100 200 300 400 500 600 700 800 900 1,000 1,100 1,200
0
Total Developers - Jan 2018
We only count open-source developers. The numbers are averages for the first 2 weeks of December before developers go on holiday at the end of the year and may differ from December numbers from earlier time series.
Ethereum
Cosmos
Solana
Polkadot
Polygon
Bitcoin
10x
5x
Jan 2018: 1084
Dec 2022: 5819
Gained Developers
Lost Developers

108. solana, polkadot, cosmos, & polygon grew from <200 devs in 2018 to
1000+ total devs in 2022
108
developerreport.com
1000+ devs
301-1000 devs
101-300 devs
51-100 devs
41-50 devs
31-40 devs
21-30 devs
11-20 devs
2-10 devs
1 dev
0 devs
Total Developers
100 200 300 400 500 600 700 800 900 1,000 1,100 1,200
0
Total Developers - Jan 2018
500
0
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
5,500
6,000
6,500
Total
Developers
-
Dec
2022
Ethereum
Cosmos
Solana
Polkadot
Polygon
Bitcoin
10x
5x
We only count open-source developers. The numbers are averages for the first 2 weeks of December before developers go on holiday at the end of the year and may differ from December numbers from earlier time series.
We only count open-source developers. The numbers are averages for the first 2 weeks of December before developers go on holiday at the end of the year and may differ from December numbers from earlier time series.
Gained Developers
Lost Developers

109. Near, Kusama & BNB had <50 devs in 2018 and now have 600+ Total devs
109
developerreport.com
301-1000 devs
101-300 devs
51-100 devs
41-50 devs
31-40 devs
21-30 devs
11-20 devs
2-10 devs
1 dev
0 devs
Total Developers
100
50 150
0
Total Developers - Jan 2018
600
500
700
400
300
200
100
800
900
0
Total
Developers
-
Dec
2022
Cardano
Tezos
BNB Chain
The Graph
Internet Computer
NEAR
Celo
Avalanche
Kusama
Starknet
10x
5x
We only count open-source developers. The numbers are averages for the first 2 weeks of December before developers go on holiday at the end of the year and may differ from December numbers from earlier time series.
Gained Developers
Lost Developers

110. Internet computer, starknet, tezos, the graph, avalanche, & celo had
<50 devs and now have 300+ devs
110
developerreport.com
301-1000 devs
101-300 devs
51-100 devs
41-50 devs
31-40 devs
21-30 devs
11-20 devs
2-10 devs
1 dev
0 devs
Total Developers
100
50 150
0
Total Developers - Jan 2018
600
500
700
400
300
200
100
800
900
0
Total
Developers
-
Dec
2022
Cardano
Tezos
BNB Chain
The Graph
Internet Computer
NEAR
Celo
Avalanche
Kusama
Starknet
10x
5x
We only count open-source developers. The numbers are averages for the first 2 weeks of December before developers go on holiday at the end of the year and may differ from December numbers from earlier time series.
Gained Developers
Lost Developers

111. zooming in on ecosystems with 40 to 200 total developers...
T
op 200 determined based on “Network Value” measurement as of 1/1/23 combining CoinMarketCap, CoinGecko, and private market valuations.
111

112. Aptos, arbitrum, optimism, and sui are ecosystems that did not exist in
2018 & now have 150+ total devs
112
developerreport.com
301-1000 devs
101-300 devs
51-100 devs
41-50 devs
31-40 devs
21-30 devs
11-20 devs
2-10 devs
1 dev
0 devs
Total Developers
50
0
Total Developers - Jan 2018
200
100
120
140
160
180
220
240
260
80
60
40
20
0
280
Total
Developers
-
Dec
2022
Tron
Maker
Zcash
Chainlink
XRP
Decentraland
Gnosis Stacks
Oasis
Filecoin
Algorand
Mina Protocol
Harmony
Arweave
Hedera
Chia
Fantom
Helium
Synthetix
Uniswap
MultiversX ZKSync
Arbitrum
Klaytn
Flow
Moonbeam
Optimism
Osmosis
EVMOS
Sui Network
Aptos
TON
Terra2.0
10x
5x
We only count open-source developers. The numbers are averages for the first 2 weeks of December before developers go on holiday at the end of the year and may differ from December numbers from earlier time series.
Gained Developers
Lost Developers

113. filecoin, algorand, flow, osmosis, & moonbeam have 200+ total devs
from fewer than 10 devs in jan 2018
113
developerreport.com
We only count open-source developers. The numbers are averages for the first 2 weeks of December before developers go on holiday at the end of the year and may differ from December numbers from earlier time series.
301-1000 devs
101-300 devs
51-100 devs
41-50 devs
31-40 devs
21-30 devs
11-20 devs
2-10 devs
1 dev
0 devs
Total Developers
50
0
Total Developers - Jan 2018
200
100
120
140
160
180
220
240
260
80
60
40
20
0
280
Total
Developers
-
Dec
2022
Tron
Maker
Zcash
Chainlink
XRP
Decentraland
Gnosis Stacks
Oasis
Filecoin
Algorand
Mina Protocol
Harmony
Arweave
Hedera
Chia
Fantom
Helium
Synthetix
Uniswap
MultiversX ZKSync
Arbitrum
Klaytn
Flow
Moonbeam
Optimism
Osmosis
EVMOS
Sui Network
Aptos
TON
Terra2.0
10x
5x
Gained Developers
Lost Developers

114. mina & hedera have 130+ total devs from fewer than 5 devs in jan 2018
114
developerreport.com
We only count open-source developers. The numbers are averages for the first 2 weeks of December before developers go on holiday at the end of the year and may differ from December numbers from earlier time series.
301-1000 devs
101-300 devs
51-100 devs
41-50 devs
31-40 devs
21-30 devs
11-20 devs
2-10 devs
1 dev
0 devs
Total Developers
50
0
Total Developers - Jan 2018
200
100
120
140
160
180
220
240
260
80
60
40
20
0
280
Total
Developers
-
Dec
2022
Tron
Maker
Zcash
Chainlink
XRP
Decentraland
Gnosis Stacks
Oasis
Filecoin
Algorand
Mina Protocol
Harmony
Arweave
Hedera
Chia
Fantom
Helium
Synthetix
Uniswap
MultiversX ZKSync
Arbitrum
Klaytn
Flow
Moonbeam
Optimism
Osmosis
EVMOS
Sui Network
Aptos
TON
Terra2.0
10x
5x
Gained Developers
Lost Developers

115. since 2018: gnosis , zksync , xrp , stacks to 100+ Total devs
+7x +6x +3x +3x
115
developerreport.com
We only count open-source developers. The numbers are averages for the first 2 weeks of December before developers go on holiday at the end of the year and may differ from December numbers from earlier time series.
301-1000 devs
101-300 devs
51-100 devs
41-50 devs
31-40 devs
21-30 devs
11-20 devs
2-10 devs
1 dev
0 devs
Total Developers
50
0
Total Developers - Jan 2018
200
100
120
140
160
180
220
240
260
80
60
40
20
0
280
Total
Developers
-
Dec
2022
Tron
Maker
Zcash
Chainlink
XRP
Decentraland
Gnosis Stacks
Oasis
Filecoin
Algorand
Mina Protocol
Harmony
Arweave
Hedera
Chia
Fantom
Helium
Synthetix
Uniswap
MultiversX ZKSync
Arbitrum
Klaytn
Flow
Moonbeam
Optimism
Osmosis
EVMOS
Sui Network
Aptos
TON
Terra2.0
10x
5x
Gained Developers
Lost Developers

116. many ecosystems grew to 40+ total devs from fewer than 5 devs in 2018
116
developerreport.com
We only count open-source developers. The numbers are averages for the first 2 weeks of December before developers go on holiday at the end of the year and may differ from December numbers from earlier time series.
301-1000 devs
101-300 devs
51-100 devs
41-50 devs
31-40 devs
21-30 devs
11-20 devs
2-10 devs
1 dev
0 devs
Total Developers
50
0
Total Developers - Jan 2018
200
100
120
140
160
180
220
240
260
80
60
40
20
0
280
Total
Developers
-
Dec
2022
Tron
Maker
Zcash
Chainlink
XRP
Decentraland
Gnosis Stacks
Oasis
Filecoin
Algorand
Mina Protocol
Harmony
Arweave
Hedera
Chia
Fantom
Helium
Synthetix
Uniswap
MultiversX ZKSync
Arbitrum
Klaytn
Flow
Moonbeam
Optimism
Osmosis
EVMOS
Sui Network
Aptos
TON
Terra2.0
10x
5x
Gained Developers
Lost Developers

117. chia, decentraland, helium, & maker grew to 60+ total devs
3x+
117
developerreport.com
We only count open-source developers. The numbers are averages for the first 2 weeks of December before developers go on holiday at the end of the year and may differ from December numbers from earlier time series.
301-1000 devs
101-300 devs
51-100 devs
41-50 devs
31-40 devs
21-30 devs
11-20 devs
2-10 devs
1 dev
0 devs
Total Developers
50
0
Total Developers - Jan 2018
200
100
120
140
160
180
220
240
260
80
60
40
20
0
280
Total
Developers
-
Dec
2022
Tron
Maker
Zcash
Chainlink
XRP
Decentraland
Gnosis Stacks
Oasis
Filecoin
Algorand
Mina Protocol
Harmony
Arweave
Hedera
Chia
Fantom
Helium
Synthetix
Uniswap
MultiversX ZKSync
Arbitrum
Klaytn
Flow
Moonbeam
Optimism
Osmosis
EVMOS
Sui Network
Aptos
TON
Terra2.0
10x
5x
Gained Developers
Lost Developers

118. But these ecosystems began at different times.
Let’s normalize by the day of their first commit...
118

119. Let’s focus on the most important developer segment:
full-time developers
119

120. EThereum, Polkadot, & Cosmos took different paths to
grow to 500+ full-time developers
121
developerreport.com
Full-Time Developers Since Launch I 50+ Avg Developers
Ethereum
Polkadot
Cosmos
Solana
Bitcoin
Polygon
Kusama
NEAR Cardano
Tezos
BNB Chain
Internet Computer
Starknet Avalanche
Filecoin
Celo
Moonbeam
Arbitrum
Aptos
Optimism The Graph
Flow
Osmosis
BAT
Sui Algorand
Gnosis
1 Yr
0 2 Yrs 3 Yrs 4 Yrs 5 Yrs 6 Yrs 8 Yrs 9 Yrs 11 Yrs 13 Yrs
10 Yrs 12 Yrs
7 Yrs
Years Since First Commit
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
2,200
Full-Time
developers
500 Devs
Polkadot
3.6 years
Ethereum
4.5 years
Cosmos
5.9 years

121. It usually takes 4+ years to grow to 200+ full-time devs
122
developerreport.com
Full-Time Developers Since Launch I 50+ Avg Developers
Ethereum
Polkadot
Cosmos
Solana
Bitcoin
Polygon
Kusama
NEAR Cardano
Tezos
BNB Chain
Internet Computer
Starknet Avalanche
Filecoin
Celo
Moonbeam
Arbitrum
Aptos
Optimism The Graph
Flow
Osmosis
BAT
Sui Algorand
Gnosis
1 Yr
0 2 Yrs 3 Yrs 4 Yrs 5 Yrs 6 Yrs 8 Yrs 9 Yrs 11 Yrs 13 Yrs
10 Yrs 12 Yrs
7 Yrs
Years Since First Commit
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
2,200
Full-Time
developers
It takes 4+ years for an
ecosystem to get more than
200 Full-Time developers.
Exception: Polkadot used 2.2
years to 200 Full-Time devs.
It takes 4+ years for an
ecosystem to get more than
200 Full-Time developers.
Exception: Polkadot used 2.2
years to 200 Full-Time devs.

122. excluding bTC & ETH, all top 200 ecosystems with 50+ full-time devs
launched under 7 years ago
123
developerreport.com
Full-Time Developers Since Launch I 50+ Avg Developers
Ethereum
Polkadot
Cosmos
Solana
Bitcoin
Polygon
Kusama
NEAR
Cardano
Tezos
BNB Chain
Internet Computer
Starknet Avalanche
Filecoin
Celo
Moonbeam
Arbitrum
Aptos
Optimism The Graph
Flow
Osmosis
BAT
Sui Algorand
Gnosis
1 Yr
0 2 Yrs 3 Yrs 4 Yrs 5 Yrs 6 Yrs 8 Yrs 9 Yrs 11 Yrs 13 Yrs
10 Yrs 12 Yrs
7 Yrs
Years Since First Commit
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
2,200
Full-Time
developers
Launched less than
7 years ago
Launched more than
7 years ago

123. Next, let’s ZOOM IN ON emerging ecosystems
124
developerreport.com
Full-Time Developers Since Launch I 50+ Avg Developers
Ethereum
Polkadot
Cosmos
Solana
Bitcoin
Polygon
Kusama
NEAR Cardano
Tezos
BNB Chain
Internet Computer
Starknet Avalanche
Filecoin
Celo
Moonbeam
Arbitrum
Aptos
Optimism The Graph
Flow
Osmosis BAT
Sui Algorand Gnosis
1 Yr
0 2 Yrs 3 Yrs 4 Yrs 5 Yrs 6 Yrs 8 Yrs 9 Yrs 11 Yrs 13 Yrs
10 Yrs 12 Yrs
7 Yrs
Years Since First Commit
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
2,200
Full-Time
developers

124. Zooming in on emerging ecosystems...
125

125. Solana, POlygon, Kusama, NEAR, & BnB took Fewer than 4 years to grow
to 150 full-time devs: the fastest of emerging ecosystems
126
developerreport.com
Full-Time Developers Since Launch
Years Since First Commit
0
50
100
200
250
300
350
400
450
Full-Time
developers
1 Yr 2 Yrs 3 Yrs 4 Yrs
0 5 Yrs 6 Yrs
Solana
Polygon
Kusama
NEAR
Cardano
Tezos
BNB Chain
Internet Computer
Starknet
Avalanche
Filecoin
Celo
Moonbeam
Arbitrum
Aptos
Optimism The Graph
Flow
Osmosis BAT
Sui
Algorand Gnosis
4 years
150 Devs

126. LET’S focus on ecosystems under 150 full-time developers
127
developerreport.com
Full-Time Developers Since Launch
Years Since First Commit
0
50
100
200
250
300
350
400
450
Full-Time
developers
1 Yr 2 Yrs 3 Yrs 4 Yrs
0 5 Yrs 6 Yrs
Solana
Polygon
Kusama
NEAR
Cardano
Tezos
BNB Chain
Internet Computer
Starknet
Avalanche
Filecoin
Celo
Moonbeam
Arbitrum
Aptos
Optimism The Graph
Flow
Osmosis BAT
Sui
Algorand Gnosis
Next, let’s focus on
ecosystems with fewer than
150 Full-Time Developers
Next, let’s focus on
ecosystems with fewer than
150 Full-Time Developers

127. ecosystems under 2 years old: starknet, aptos, & sui have 60+ Full-Time
developers; starknet has the most at almost 120 Full-Time developers
128
developerreport.com
Full-Time Developers Since Launch
Years Since First Commit
0
20
40
60
80
100
140
180
120
160
200
220
Full-Time
developers
1 Yr 2 Yrs 3 Yrs 4 Yrs
0 5 Yrs 6 Yrs
Cardano
Tezos
BNB Chain
Internet Computer
Starknet
Avalanche Filecoin
Celo
Moonbeam
Arbitrum
Aptos
Optimism
The Graph
Flow
Osmosis
BAT
Sui
Algorand Gnosis
Starknet, Aptos, and Sui
were started <2 years ago
and have 60+ Full-Time
developers.
Starknet, Aptos, and Sui
were started <2 years ago
and have 60+ Full-Time
developers.

128. Starknet, BNB, avalanche, Cardano, tezos, & icp took different paths to
grow to 100+ full-time developers
129
developerreport.com
100 Devs
BNB, Starknet
<1 year
Avalanche
2+ years
ICP
5+ years
Tezos, Cardano
4+ years
Full-Time Developers Since Launch
Years Since First Commit
0
20
40
60
80
100
140
180
120
160
200
220
Full-Time
developers
1 Yr 2 Yrs 3 Yrs 4 Yrs
0 5 Yrs 6 Yrs
Cardano
Tezos
BNB Chain
Internet Computer
Starknet
Avalanche Filecoin
Celo
Moonbeam
Arbitrum
Aptos Optimism The Graph
Flow
Osmosis
BAT
Sui
Algorand Gnosis

129. What about total developers
(full-Time + Part-time + One-time)
across these ecosystems?
130

130. EThereum, Polkadot, solana, polygon & Cosmos took different paths to
grow to 1000+ total developers
131
developerreport.com
Total Developers Since Launch | 50+ Avg Developers
Ethereum
Polkadot
Cosmos
Solana
Bitcoin
Polygon
Kusama
NEAR
Cardano
Tezos
BNB Chain Internet Computer
Starknet
Avalanche
Filecoin
Celo
Moonbeam Arbitrum
Aptos
Optimism
The Graph
Flow
Osmosis
BAT
Sui Algorand Gnosis
Years Since First Commit
0
1,500
1,000
500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
7,000
6,000
6,500
5,500
Total
developers
1 Yr
0 2 Yrs 3 Yrs 4 Yrs 5 Yrs 6 Yrs 8 Yrs 9 Yrs 11 Yrs 13 Yrs
10 Yrs 12 Yrs
7 Yrs
0
How long did it take for the
biggest ecosystems to get
to 1000 total devs?
How long did it take for the
biggest ecosystems to get
to 1000 total devs?
Polkadot
3 years
Ethereum, Solana,
Polygon
4.2 years
Cosmos
5.2 years
1,000 Devs

131. let’s focus on emerging ecosystems
132
developerreport.com
Next, let’s focus on
this range
Next, let’s focus on
this range
Total Developers Since Launch | 50+ Avg Developers
Ethereum
Polkadot
Cosmos
Solana
Bitcoin
Polygon
Kusama
NEAR
Cardano
Tezos
BNB Chain Internet Computer
Starknet
Avalanche
Filecoin
Celo
Moonbeam Arbitrum
Aptos
Optimism
The Graph
Flow
Osmosis
BAT
Sui Algorand Gnosis
Years Since First Commit
0
1,500
1,000
500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
7,000
6,000
6,500
5,500
Total
developers
1 Yr
0 2 Yrs 3 Yrs 4 Yrs 5 Yrs 6 Yrs 8 Yrs 9 Yrs 11 Yrs 13 Yrs
10 Yrs 12 Yrs
7 Yrs
0

132. Solana spiked to 2000+ total devs in Nov 2022, during breakpoint &
with hackathon activity. This is why full-time devs is a critical metric
133
developerreport.com
Total Developers Since Launch
Years Since First Commit
0
200
400
600
800
1,000
1,200
1,400
1,600
2,400
2,000
2,200
1,800
Total
developers
1 Yr 2 Yrs 3 Yrs 4 Yrs
0 5 Yrs 6 Yrs
Solana
Polygon
Kusama
NEAR
Cardano
Tezos
BNB Chain
Internet Computer
Starknet
Avalanche
Filecoin
Celo
Moonbeam
Arbitrum
Aptos
Optimism
The Graph
Flow
Osmosis
BAT
Sui Algorand
Gnosis
Total developer count is
sensitive to large developer
activation events like
conferences & hackathons
Total developer count is
sensitive to large developer
activation events like
conferences & hackathons

133. Solana, Polygon, near, & Kusama have the most total devs (600+)
134
developerreport.com
Total Developers Since Launch
Years Since First Commit
0
200
400
600
800
1,000
1,200
1,400
1,600
2,400
2,000
2,200
1,800
Total
developers
1 Yr 2 Yrs 3 Yrs 4 Yrs
0 5 Yrs 6 Yrs
Solana
Polygon
Kusama
NEAR
Cardano
Tezos
BNB Chain
Internet Computer
Starknet
Avalanche
Filecoin
Celo
Moonbeam
Arbitrum
Aptos
Optimism
The Graph
Flow
Osmosis
BAT
Sui
Algorand
Gnosis
Total Developers Since Launch

134. let’s focus on emerging ecosystems with under 600 total developers
135
developerreport.com
Total Developers Since Launch
Years Since First Commit
0
200
400
600
800
1,000
1,200
1,400
1,600
2,400
2,000
2,200
1,800
Total
developers
1 Yr 2 Yrs 3 Yrs 4 Yrs
0 5 Yrs 6 Yrs
Solana
Polygon
Kusama
NEAR
Cardano
Tezos
BNB Chain Internet Computer
Starknet
Avalanche
Filecoin
Celo
Moonbeam
Arbitrum
Aptos
Optimism
The Graph
Flow
Osmosis
BAT
Sui Algorand
Gnosis
Next, let’s focus on
this range
Next, let’s focus on
this range

135. Bnb has the most total developers for projects under 3 years old,
despite its recent decline in developers
136
developerreport.com
Total Developers Since Launch
Years Since First Commit
0
100
200
300
400
500
600
700
800
900
Total
developers
1 Yr 2 Yrs 3 Yrs 4 Yrs
0 5 Yrs 6 Yrs
Cardano
Tezos
BNB Chain
Internet Computer
Starknet
Avalanche
Filecoin
Celo
Moonbeam
Arbitrum
Aptos
Optimism
The Graph
Flow
Osmosis
BAT
Sui
Algorand
Gnosis
BNB has the highest number
of developers out of
ecosystems that launched
code under 3 years ago.
BNB has the highest number
of developers out of
ecosystems that launched
code under 3 years ago.

136. ecosystems under 2 years old: starknet, aptos, & sui have 100+ total
developers; starknet has the most at almost 400 total devs
137
developerreport.com
Total Developers Since Launch
Years Since First Commit
0
100
200
300
400
500
600
700
800
900
Total
developers
1 Yr 2 Yrs 3 Yrs 4 Yrs
0 5 Yrs 6 Yrs
Cardano
Tezos
BNB Chain
Internet Computer
Starknet
Avalanche
Filecoin
Celo
Moonbeam
Arbitrum
Aptos
Optimism
The Graph
Flow
Osmosis
BAT
Sui
Algorand
Gnosis
Starknet, Aptos, and Sui
were started <2 years ago
and have 100+ total
developers.
Starknet, Aptos, and Sui
were started <2 years ago
and have 100+ total
developers.

137. Many of the top emerging ecosystems are evm-compatible: bnb,
avalanche, moonbeam, arbitrum, optimism, celo, & gnosis
138
developerreport.com
Total Developers Since Launch
Years Since First Commit
0
100
200
300
400
500
600
700
800
900
Total
developers
1 Yr 2 Yrs 3 Yrs 4 Yrs
0 5 Yrs 6 Yrs
BNB Chain
Avalanche
Celo
Moonbeam
Arbitrum
Flow
Gnosis
Optimism
Sui
Cardano
Tezos
Internet Computer
Starknet
Filecoin
Aptos
The Graph
Osmosis
BAT
Algorand
Starknet

138. Zooming back out...emv-compatible ecosystems are 37% of all
ecosystems with 50+ full-time DEvs
139
developerreport.com
Total Developers Since Launch I 50+ Avg Developers
Ethereum
Polygon
BNB Chain
Avalanche
Moonbeam Arbitrum
Optimism Gnosis
Polkadot
Cosmos
Solana
Bitcoin
Kusama
NEAR
Cardano
Tezos
Internet Computer
Starknet
Filecoin
Celo
Aptos
The Graph
Flow
Osmosis
BAT
Sui Algorand
Years Since First Commit
0
1,500
1,000
500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
7,000
6,000
6,500
5,500
Total
developers
1 Yr
0 2 Yrs 3 Yrs 4 Yrs 5 Yrs 6 Yrs 8 Yrs 9 Yrs 11 Yrs 13 Yrs
10 Yrs 12 Yrs
7 Yrs
0

139. Ethereum virtual machine has emerged as a core technology.
Let’s look at evm-compatible layer-1 and layer-2 chains...
140

140. Across eVM chains: monthly total developers; year over Year
+414 +5%
141
developerreport.com
Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
11,000
EVM Layer 1s and 2s Monthly Active Developers
Dec 2021
7,976
Dec 2022
8,390
+414
+5%
Developers

141. ethereum grew by year over year; EVM-compatible layer-1s and l2s
outside Ethereum grew by
+5%
+2%
142
developerreport.com
Some Developers work across EVM Layer-1s and Ethereum. The sum of these two lines will be greater than total developers in EVM-compatible chains.
Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022
EVM Layer
1s & 2s
Ethereum
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
5,500
6,000
6,500
7,000
+2%
Dec 2022
5,734
+263
Dec 2021
5,471
Dec 2022
2,817
+66
Dec 2021
2,751
+5%
Ethereum and Other EVM Layer 1s & 2s since 2015
Developers

142. do developers in evm-compatible ecosystems
stay in one ecosystem or work across multiple?
Let’s take a look at contract deployments on chain
143
do developers in evm-compatible ecosystems
stay in one ecosystem or work across multiple?
Let’s take a look at contract deployments
on chain...
143

143. across evm ecosystems: Most accounts only deploy contracts
to one chain...
144
developerreport.com
1 2 3 4 5 6 7
Networks
0
0.2 M
0.4 M
0.6 M
0.8 M
1.0 M
1.2 M
1.4 M
Deployer
Count
Multi-Chain Deployers
Source: Dune Analytics

144. ...but the average number of chains the deployer has deployed on has
increased over time
145
developerreport.com
1.00
1.05
1.10
1.15
1.20
1.25
1.35
1.40
1.45
Chain
Count
2016 2017 2018 2019 2020 2021 2022
Number of Chains Avg Deployer Has Deployed On
Source: Dune Analytics

145. how can we account for the developers working
across multiple chains?
146

146. Ecosystems are comprised of community and protocol level developers
147
developerreport.com
ecosystems may include multi-chain developers
developerreport.com 147
Primary Developers
Developers working exclusively
on an ecosystem
Multi-Chain Developers
Developers work on applications that are
deployed across multiple ecosystems

147. multi-ecosystem example: sushi
Many applications like Sushi build on
Optimism and also build in other ecosystems.
Sushi is part of Optimism’s multi-chain community.
developerreport.com 148
Optimism
Protocol
Developers
Primary Developers
Velodrome, Lyra,
Perpetual, etc.
Multi-Chain Developers
Uniswap, Sushi , Aave,
etc.
Ecosystem
Optimism
Multi-Chain Communit¬
« Uniswa¤
« Sush§
« Aavž
« Curve
Optimism Communit¬
« Velodromž
« LyrÁ
« Perpetual ProtocoÈ
« Sonne Finance

148. how are multi-chain devs growing
in comparison to primary devs?
149

149. Polygon primary developer growth ( ) outpaces the growth of
multi-chain developers building on polygon ( ) year over year
+29%
+1%
150
developerreport.com
Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
2,200
Primary
Developers
Multi-chain
Developers
Polygon Primary & Multi-chain Developers
Dec 2021
1,804
Dec 2022
1,829
+25
Dec 2021
857
Dec 2022
1,102
+245
+1%
+29%
Developers

150. Avalanche lost primary developers ( ) while multi-chain
developers building on avalanche grew ( )
-28%
+8%
151
developerreport.com
Primary
Developers
Multi-chain
Developers
Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022
0
100
200
300
400
500
600
700
800
900
1,000
1,100
Avalanche Primary & Multi-chain Developers
Dec 2021
834
Dec 2022
902
+68
Dec 2021
460
Dec 2022
332
-128
+8%
-28%
Developers

151. Bnb chain has steady Multi-chain developers despite decrease in
primary developers
-23%
152
developerreport.com
0
100
200
300
400
500
600
700
800
900
Primary
Developers
Multi-chain
Developers
BNB Chain Primary & Multi-chain Developers
Developers
Dec 2021
717
Dec 2022
705
-12
Dec 2021
712
Dec 2022
546
-166
-23%
-2%
Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022

152. Celo lost primary developers ( ) while multi-chain developers
building on celo grew ( )
-19%
+7%
153
developerreport.com
Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022
0
50
100
150
200
250
300
350
400
450
500
550
600
Primary
Developers
Multi-chain
Developers
-19%
Celo Primary & Multi-chain Developers
Dec 2022
519
+32
Dec 2022
262
-62
Dec 2021
487
Dec 2021
324
Developers
7%

153. Arbitrum has 4x more multi-chain devs than primary devs; Arbitrum
gained primary developers ( ) while multi-chain fell ( )
+38% -10%
154
developerreport.com
Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022
0
100
200
300
400
500
600
700
800
900
1,000
1,100
Primary
Developers
Multi-chain
Developers
Arbitrum Primary & Multi-chain Developers
Dec 2022
839
-95
Dec 2022
215
+59
Dec 2021
934
Dec 2021
156
Developers
38%
-10%

154. Optimism has 5x more multi-chain developers than primary devs;
Primary Developers Grew ( ) while Multi-Chain Fell ( )
+73% -8%
155
developerreport.com
Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022
0
100
200
300
400
500
600
700
800
900
1,000
1,100
1,200
Dec 2022
903
-79
Dec 2022
183
+77
Dec 2021
982
Dec 2021
106
73%
-8%
Optimism Primary & Multi-chain Developers
Developers
Primary
Developers
Multi-chain
Developers

155. CRYPTO USE CASES
156

156. which types of contracts have the most usage? WE can look
at the top 10 contracts on ethereum as A proxy
157
developerreport.com
Ethereum Top Gas Spenders 2022
OpenSea
Uniswap
Tether USD
Metamask Swap
USD Coin
StrongBlock
Ethereum Name Service
CoinTool: XEN Batch Minter
1inch
XEN Crypto
Gem
Wrapped Ether
Coinbase
Optimism: Canonical Transaction Chain
4,334,117,632,808
3,919,697,333,356
1,405,935,751,040
609,881,691,496
568,398,116,132
536,836,567,423
512,870,655,513
500,994,713,214
481,029,227,108
406,036,682,483
388,856,356,641
245,957,059,556
215,425,749,000
189,456,150,997
Contract Total Gas Used
Gas is the amount a user is willing
to pay for a service on Ethereum.
Gas is the amount a user is willing
to pay for a service on Ethereum.

157. defi
defi
& are the most popular use cases:
& contracts are 7 of the top 10 contracts by gas usage
nfts
nfts
158
developerreport.com
4,334,117,632,808
3,919,697,333,356
1,405,935,751,040
609,881,691,496
568,398,116,132
536,836,567,423
512,870,655,513
500,994,713,214
481,029,227,108
406,036,682,483
388,856,356,641
245,957,059,556
215,425,749,000
189,456,150,997
OpenSea
Ethereum Name Service
Gem
Uniswap
Tether USD
USD Coin
1inch
Metamask Swap
StrongBlock
CoinTool: XEN Batch Minter
XEN Crypto
Wrapped Ether
Coinbase
Optimism: Canonical Transaction Chain
Contract
Ethereum Top Gas Spenders 2022
Total Gas Used

158. how is defi doing?
159

159. 3,901 monthly active developers work in defi across
l1 and l2 ecosystems
160
developerreport.com
Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
Decentralized Finance Monthly Active Developers Dec 2022
3,901
Developers

160. +240% monthly developers since defi summer 2020
161
developerreport.com
Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
DeFi Summer
Summer 2020
1,147
+240%
Dec 2022
3,901
+2,754
Decentralized Finance Monthly Active Developers
Developers

161. -9%DefimonthlyactivedevelopersfromDecember2021
toDecember2022
162
developerreport.com
Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000 Dec 2022
3,901
-399
Dec 2021
4,300
-9%
Decentralized Finance Monthly Active Developers
Developers

162. one-Time ( ), full-time ( ), & Part-time ( )
devs down across defi
-21% -9% -6%
163
developerreport.com
Full-Time
Part-Time
One-Time
Jan 2010 Jan 2012 Jan 2014 Jan 2016 Jan 2018 Jan 2020 Jan 2022
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
2,200
2,400
2,600
Decentralized Finance Monthly Active Developers
-6%
Dec 2022
2,133
-128
Dec 2022
1,189
-117
Dec 2021
2,261
-9%
-21%
Dec 2021
1,306
Dec 2022
579
-154
Dec 2021
733
Developers

163. 500+ new developers per month continue to join defi,
but down from peak
164
developerreport.com
Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022
0
100
200
300
400
500
600
700
800
900
1,000
1,100
1,200
84
120
114
47
100
96
74
57
188
183
46
226
210
159
338
163
67
152
165
134
151
52
53
195
158
158
179
192
174
205
144
141
185
171
261
205
179
192
484
285
199
512
451
352
159
170
219
471
800
923
926
918
835
656
1,021
494
948
902
827
989
1,042
888
955
645
1,108
620
534
863
927
704
595
Number of Developers by Month Joined
500+ new developers join
DeFi monthly, but down from
March 2022 peak
500+ new developers join
DeFi monthly, but down from
March 2022 peak
Developers

164. how has defi grown across
layer 1 chains?
165

165. ethereum, cosmos, solana, polkadot, bnb, kusama, polygon, & avalanche
have the largest defi developer ecosystems with defi developers
150+
166
developerreport.com
Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022
Ethereum DeFi
Solana DeFi
BNB Chain DeFi
Avalanche DeFi
Other L1 DeFi
Polkadot DeFi
Kusama DeFi
Polygon DeFi
Cosmos DeFi
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
2,200
2,400
Number of developers per L1 in DeFi (150+ devs)
Developers

166. Ethereum is the biggest defi ecosystem with monthly devs; Cosmos
defi is second with ; Solana defi is third with
1,911
512 348
167
developerreport.com
Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022
Ethereum DeFi
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
2,200
2,400
Number of developers per L1 in DeFi (150+ devs)
Ethereum
Dec 2022
1,911
Developers
Solana DeFi
BNB Chain DeFi
Avalanche DeFi
Other L1 DeFi
Polkadot DeFi
Kusama DeFi
Polygon DeFi
Cosmos DeFi

167. ethereum began with more defi developers than any other
layer 1 ecosystem during defi summer
4x
168
developerreport.com
Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022
Ethereum DeFi
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
2,200
2,400
Number of developers per L1 in DeFi (150+ devs)
DeFi Summer
Summer 2020
Ethereum
June 2020
Developers: 800
Developers
Solana DeFi
BNB Chain DeFi
Avalanche DeFi
Other L1 DeFi
Polkadot DeFi
Kusama DeFi
Polygon DeFi
Cosmos DeFi

168. today, of defi developers contribute to ecosystems outside
of ethereum, up from during defi summer
50%
30%
169
developerreport.com
Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Polkadot
Polygon
Cosmos
Kusama
Ethereum
Solana
Avalanche
BNB Chain
Percentage of Developers per L1 in DeFi (150+ devs)
Percent
of
Developers
Ethereum began with
close to 70% of all DeFi
developers in DeFi summer.
Ethereum began with
close to 70% of all DeFi
developers in DeFi summer.
Ethereum is
down to 50% of
DeFi developers
Ethereum is
down to 50% of
DeFi developers
DeFi Summer
Summer 2020

169. how many developers work in NFTs?
170

170. 929 monthly active open-source developers work in nfts
171
developerreport.com
Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022
0
100
200
300
400
500
600
700
800
900
1,000
1,100
1,200 Dec 2022
929
NFTs Monthly Active Developers
Developers

171. +299% monthly nft developers since Jan 2021
172
developerreport.com
Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022
0
100
200
300
400
500
600
700
800
900
1,000
1,100
1,200
Dec 2022
929
+696
Jan 2021
232
+300%
NFTs Monthly Active Developers
Developers

172. the number of NFT monthly developers is flat yoy
173
developerreport.com
Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022
0
100
200
300
400
500
600
700
800
900
1,000
1,100
1,200
Dec 2022
929
+3
Dec 2021
926
0%
NFTs Monthly Active Developers
Developers

173. nft’s yoy growth comes from Full-Time ( ), losses come from
one-time ( ) and Part-time ( ) developers
+30%
-27% -5%
174
developerreport.com
Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022
0
50
100
150
200
250
300
350
400
450
500
550
600
650
Full-Time
Part-Time
One-Time
Dec 2021
257
Dec 2022
473
-28
Dec 2021
501
Dec 2022
122
-46
Dec 2021
168
Dec 2022
334
+77
+30%
-27%
-5%
Non-Fungible Tokens Monthly Active Developers
Developers

174. increasingly, a new wallet’s first action is in nfts: wallets’
first transaction was related to NFTs in 2022
80%
175
developerreport.com
Percentage
of
first
txs
Analysis inspired by this tweet by @ElBarto_Crypto. Data Souce: Nansen Query
Jan 2018 Jul 2018 Jan 2019 Jul 2019 Jan 2020 Jul 2020 Jan 2021 Jul 2021 Jan 2022 Jul 2022
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
55%
60%
65%
70%
75%
80%
85%
90%
95%
100%
DEFI
NFT
First transaction per wallet - DeFi vs NFT (28-day mean)

175. developer engagement is not the best lens for all ecosystems
NFTs, Gaming, and DAOs
Aggregate developer metrics alone may be misleading and may not be the correct leading indicator to
consider for NFTs, Gaming, and DAOs.
In these use cases, a relatively small number of developers can build reusable components and the
amount of smart contract code written will be small relative to community engagement. For example, a
very small amount of code written by just one developer might drive a large PFP (Profile Picture) NFT
community. Or in the case of games, the majority of code may be off chain and closed-source, thereby
making extrapolation from on-chain and open-source data very noisy.
We believe community engagement signals are an important and complementary leading indicator for
the NFT, Gaming, and DAO markets. We are working on several novel ways to gather community data and
signals and will share our results as they become available.
developerreport.com 176

176. DEVELOPERreport.com
177

177. Dive into data: developerreport.com
developerreport.com 178
We are excited to launch
to
showcase the data that
goes into creating our
annual Developer Report.
Our aim is to provide a
transparent, open, data
source for the community.
We will be adding more
visualizations, more data,
and moving towards more
real-time updates at
. We
will continue to publish an
annual Developer Report
with detailed analysis on an
annual basis as well.
DeveloperReport.com
DeveloperReport.com

178. THANK YOU
179

179. Help map the Crypto ecosystem
Our ecosystem map on GitHub continues to be open
so that anyone can contribute.
Submit a pull request in our Github:
github.com/electric-capital/crypto-ecosystems
We will use this data for our reports going forward and
for DeveloperReport.com!
180

180. Thank you
developerreport.com 181
Adeniyi
@EmanAbio
Akriti Vij
@AkritiVij
Alexander Graebe
Alvin Kan
@alvin_kan
Andrea Muttoni
@muttonia
Anuke
@anukeganegoda
Austin Federa
@Austin_Federa
Ben White
@BenWhiteJamin
Bram Cohen
@bramcohen
Brian Henhsi
@bhenhsi
Brian McKenna
@brian_p_mckenna
Brittany L
@br_ttany
Catrina Wang
Chase Barker
@therealchaseeb
Chris Ackermann
@chrsackermann
Christian Hresko
David Sedgwick
Dan Saber
@dansabermetrics
Danielle Harris
Look Look Studio
David Feiock
@davidfeiock
Dawn Song
@dawnsongtweets
Diwaker Gupta
@diwakergupta
Eric Nakagawa
@ericnakagawa
Eric Zietlow
@EricZietlow
Evan Cheng
@EvanWeb3
Gene Hoffman
@hoffmang
Greg
@Greg_Nazario
HQ Han
@duckie_han
Illia Polosukhin
@ilblackdragon
Jack Zampolin
@jackzampolin
Jacob Creech
@jacobvcreech
Jelena
@jelenaaa____
Jesse Wiley
@mrjwiley
Jim Yang
@proofstake
Jonathan Victor
@jnthnvctr
Joey Bender
@josephbender
Jordan Kail
Josh Ford
Karim
@karimpb
Kenny Rogers
@KenTheRogers
Kori
@koritual
Kuleen
@knimkar
Kyle L
@kylelangham
Lina Lu
Lomesh D
@lomeshdutta
Loren Cookson
Lorny P
@lornyelle
Maksym Zavershynskyi
@mzavershynskyi
Marko Baricevic
@mark0baricevic
Marek
@marek_
Mefrem
Moritz
@cryptoschindler
Neil H
@neilhar_
Nikhil Ranjan
@niklabh
Oliver Bett
Ollie Corbisiero
Pavel Kudinov
Pavla
@daemia10
Raphaël Guilleminot
@raphelectric
Raj Gokal
@rajgokal
Rene
@RegenRene
Rodrigo Mendoza
@r0dms
Roham Gharegozlou
@roham
Rumeel Hassain
@RumeelHussain
Sam Blackshear
@b1ackd0g
Sargonas
@sargonas
Santi Balaguer
@santibalaguer
Stani
@StaniKulechov
Stef Sprinz
Stephanie Marin
Steve Lee
@moneyball
Sunny Aggarwal
@sunnya97
Urban
@uosvald
Vik Kalghatgi
@vik_kalghatgi
Vlad Grichina
@vgrichina
Weilei Yu
@WeileiY
Will Corcoran
@corcoranwill
Will Cove
@WillCove
Xochitl Cazador
@xochitlcazador
Yiwei H.
Zaki Manian
@zmanian

181. Thank you Github contributors
developerreport.com 182
2075
@marcobahn
0xlyd
@0xlyd
0xneil
0xrmvdao
advanderveer
aguillon
Akibalogh
algodevstats
@algodevstats
AnshuJalan
@aj_jalan
arrudagates
baabaabet001
BadgerAnn
bmgentile
@bmgentile
bogachevanton
@bogachev_anton
BowTiedDeployer
@BowTiedDeployer
btspoony
CassFairiesClub
@CassFairieClub
catskillnft
@CatskillNFT
christianschmitz
clarus
@guillaumeclaret
ctrlaltdel
dantrevino
@dantrevino
darkverbito
dchoi27
dedushky
denver-s
diwakergupta
@diwakergupta
doranoda
dvkam
edison0xyz
@edison0xyz
eherrerosj
@eherrerosj
elasticLove1
elliotkennedy
Eltairovy
@Elena_Von_Tsss
EnergyTrade
@_EnergyTrade_
ericnakagawa
@ericnakagawa
evilboyajay
@evilboyajay
falkonprods
@drewfalkman
farmerdiamonds
fhb191309
fiftyeightandeight
forgetso
gabrieljaegerde
germanD
gfox1
@graeme_fox
gregnazario
@greg_nazario
hieudd
@hieudaosw
hskang9
@hskang0525
hstove
@heynky
imotai
@TaizeWang
ItasMattWebb
j-vp
@j00324
jalehman
@jlehman_
jdbender66
jonathanpdunne
@JonPDunne
jordan-tezos
JosephKnecht-lab
Kazik435
kimsk
@kimsk
KittiBorissza
letmejustputthishere
lourkeur lourkeur
lucasdcf
@lucasdcf
lurpis
m-kus
mando222
markgenuine
MarvinQuevedo
mistertoucan
mshankarrao
mutobui stefan_muto
muttoni
@muttonia
nathanduft44
neosavvy
@adamparrish
nicolasochem
@nicolasochem
nikhildfinity
nilscodes
@NilsCodes
notEduardo
nud3l
@dominik0_
olliecorbisiero
owocki
paradigma-cl
@CheckParadigma
pascuin
peopledrivemecrazy
@shriji
philippem
PoorMansChiaFarm
pranaydotparity
Primate411
RaekwonIII
@RaekwonIII
richardyu65
RichAyotte
@RichAyotte
robert-zaremba
RomarQ
@RodrigoQuelhas
rube-de
ryancwalsh
schimih
scrutinously
sergiimk
shaelilwang
shapeman
@shapeman2004
sjriddle
@SamuelJRiddle
SlowestTimelord
@SlowestTimelord
snow-farmer
@yieldyak_
SnowPrimate
@0xPrimata
spazcoin
StephenFluin
@stephenfluin
SUGURUSEO
sunnya97
SwiftAdviser
@SwiftAdviser
tezms
tezos-stuff
themacexpert
thenic95
trgarrett
tudorhedged
upsorber
waterrecreation
wileyj
wischli
@WilliamFreude
wyn
@karoshibee
xcolwell
@xcolwell
xrdavies
@xrdavies
XTZNews
@XTZNews
yyolk
@yyolk
zakhikhan
zamrokk
@benji_fuentes

182. appendix & Methodology
APPENDIX
183

183. Commit Counting Methodology: Not all code commits are created equal
Forks
Only new code counts towards developer activity. We omit
code and developer activity from merging changes from the
upstream codebase.
Fingerprinting
Fingerprinting is a technique used to identify commits
originating from upstream projects. We look at the files and
lines changed, the commit message, committer, author, and
associated dates. This eliminates copy/pasted code from
counting towards an ecosystem.
Commits from Integrating Open
Source Libraries
Integrating common libraries does not count toward
code activity.
Branches
We look at commits from all branches (master/
development, etc.) and tags. We look beyond Github's
default view, which can be incomplete.
Limitations
We only look at open-source repositories. There are many
repositories that are not yet open-source. However, we are
planning to enrich the open-source code data with
deployed on-chain smart contract code.
184
developerreport.com

184. How are developers counted?
Developers
We count original code authors as developers. This means
that a developer who merges a pull request is not an active
developer on the project, but the original authors of the
commits are.
Full-Time Contributors
Contributed code 10+ days out of a month
Part-Time Contributors
Contributed code fewer than 10 days out of a month
One-Time Contributors
Contributed code once in a rolling 3-month window
Monthly Developer
We count commits during the next 28 days of the
commit happening to generate more stability in the data
Top-200 category
Any ecosystem that has been in the Top 200 rank
by network valuation for at least 90 days in the
corresponding year
185
developerreport.com

185. Disclaimer & Disclosure
This Content is for Informational Purposes Only.
Any content included in this report is informational only
and not an offer, solicitation, or recommendation to buy or
sell securities or pursue any particular investment strategy,
and does not constitute the provision of investment advice.
Electric Capital Partners, LLC (together with its affiliates,
“Electric Capital”) does not provide advice of any kind
through this report, its website, or social media posts.
Information in this report or any posts may not be used
or relied upon in evaluating the merits of any investment.
You should consult your own advisers as to business,
financial, tax, legal, or other related matters concerning
any investment.
Certain information has been obtained from third-party
sources, including from portfolio companies
of funds managed by Electric Capital. Content is as of
the date posted and subject to change without notice.
Electric Capital makes no representations about
the enduring accuracy of this information, or its
appropriateness for a given scenario.
We may hold tokens in some of the ecosystems
mentioned in this report.
Electric Capital may have previously held, currently holds,
or will in the future hold token or equity interests in one
or more of the ecosystems or projects mentioned in this
report.
A non-exhaustive list of investments made by funds
managed by Electric Capital is . Excluded
from this list are investments (and certain publicly traded
cryptocurrencies or other digital assets) for which the
issuer has not provided permission for Electric Capital to
disclose publicly. Electric Capital does not short tokens.
For a list of past and present investments,
available here
please visit this link.
186
developerreport.com