✨Introduction

A decentralized application (dApp) platform, Squid was developed on the Axelar platform. The primary goal of the Squid project is to offer a comprehensive and effective platform on which programmers can construct and launch their own distributed applications.

The Axelar ecosystem is put to good use by the Squid project, which streamlines and simplifies the development experience. Complete solutions for developing, deploying, and scaling decentralized apps are made possible by its interoperability with other Axelar ecosystem tools and services such as Axelar Storage, Axelar Network, and Axelar Chain.

The Squid project's emphasis on simplicity and ease of use is a strength. It simplifies the process of installing and managing decentralized apps and provides a centralized dashboard for developers to manage and monitor their deployments.

The Squid project offers a wide variety of tools and resources for developers to use in creating and scaling applications, and not just its deployment functions. It supports multiple languages like Solidity, Rust, and JavaScript and comes with a large collection of pre-made smart contracts.

When taken as a whole, the Squid project on the Axelar ecosystem provides a robust and complete answer for programmers who wish to create and release distributed applications with minimal effort and time investment in setup and configuration.

🛠️ Method

In this multipages dashboard I tried to the transfer metrics on EVM compatibale chains on Axelar bridge affected by launching the Squid.

For this popuse I evaluate the following metrics:

The number of unique people who have utilized Squid to trade tokens or move assets between blockchains.

The average amount of USDC, the "bridge currency" used for cross-chain transfers, sent in a given transaction.

The most frequently utilized chains for initiating or receiving cross-chain transfers are those labeled as "most popular source/destination chains."

The Most Frequent Cross-Chain Transfer Paths are the ones where the source and target chains are utilized most often together.

The sum of all unique tokens that have been traded via Squid.

This is the sum of all USDC that have been sent with Squid.

🌡️ Analysis

In the current page as the first page I tried to give an overall view of the transfer metrics in all assessed EVM chains (Ethereum, Polygon, Arbitrum, Avalanche and BSC).

These chains are evaluated separately in the next pages.

✍🏻 Conclusion

Overall, it seems that there has been a lot of activity and movement of assets across different chains through Squid. Ethereum has been the most popular source chain for transfers, with the largest group of unique transferrers and the highest total transferred volume. Avalanche and Polygon have been the most popular destinations for transfers, with Fantom and Moonbeam also seeing significant volume.

There have been spikes in transferred volume at different times for different chains, and the last week has seen increased volume for transfers to Fantom, especially from Ethereum and Polygon. The most popular tokens for swap transactions have been axlUSDC and USDC, and Avalanche has had the most count of swapped tokens.

Overall, it seems that Squid is facilitating significant cross-chain activity, and it will be interesting to see how these trends develop over time.

Hey there 👋!

Firstly, I appreciate you sticking with it until the conclusion.

I'm Hamed, a civil engineering Ph.D.

student interested in data analysis.

I've made many similar dashboards and visualizations since I started at Flipside in January.

Please take a look at my various contact details and let me know what you think.

About:

• Author: HaM☰d

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• Discord: 0xHaM☰d#8391

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• Twitter: @arjmandi_hamed

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• Email: h_arjmandi2012@yahoo.com

🔎 Findings:

As of these single numbers, about $386K USDC transferred via Squid by 2.64K transactions and 217 unique transferrers.

The highest average volume transferred from Avalanche to other chains with 150M.

he highest total transferred volume transferred from Ethereum to other chains with more than 47.5% of total volume.

The origin chains is that one which transferred from to other chains.

🔎 Findings:

The largest group of unique transferrers are belong to Ethereum with 75.6% of all users.

The most count of transactions have executed to transfer assets from Polygon to other chains with 38.8% of total transactions.

The following visuals represent the transfer metrics by the transfer's path.

Surry for oversizing of PIE charts, I had to show those in a larg scale because of the new visualization Flipside platform.

The most of unique transferrers, transferred the most volume of their assets from Ethereum to Fantom, Moonbeam and Avalanche with 14.6, 13 and 11% of unique users, respectively.

Polygon to Avalanche and vise versa have had the most transfer transactions count.

⏳ The following charts show the total transferred volume and swapped tokens from origin chains to the destinations chains.

As can be seen Ethereum to Fantom path, has had the most transferred volume with over $91K. Also the PIE charts below show the swap transactions count by token. axlUSDC and USDC were the tokens with the most swap transactions count. although the Avalanche is the chains with the most count of swapped tokens with 33 tokens, the Polygon is the source chain with the most count of swap transactions count,