Open-Source software activities and on-chain performance in decentralized applications

Abstract

In recent years, innovations in financial technology, particularly decentralized applications (DApps), have increasingly relied on open-source software (OSS) models to support technological advancement and transparency. This study investigates the relationship between OSS activities and the on-chain performance of DApps. Using data from DAppRadar and GitHub, we focus on two key dimensions of OSS activities: development intensity and community interaction. We find that both dimensions are positively associated with subsequent user engagement and transaction volume. These findings underscore the importance of OSS activities in shaping user-centered DApp outcomes and offer practical insights for developers, users, and investors navigating the blockchain ecosystem. By shifting the analytical lens from traditional market-based metrics to behavioral indicators, this research provides a more nuanced understanding of DApp sustainability in open-source environments.