Try Quests to earn AXLAxelar Bridge
Introduction
What is Axelar?
> Axelar delivers secure cross-chain communication for Web3. Secure means Axelar is built on proof-of-stake, the battle-tested approach used by Avalanche, Cosmos, Eth2, etc. Cross-chain communication means you can build a complete experience for your users that lets them interact with any asset, any application, on any chain with one click.
What is Satellite?
> Satellite is a web application built on top of the Axelar Network. It provides an easy to use interface which enables users to transfer their crypto assets from one chain to another.
Method
In the current research, I tried to examine how often connections are made to Axelar's satellite.
Here, the axelar.core.fact msg attributes database will serve as our primary data source for extracting satellite bridge activities. The use of attribute key column to retrieve information about bridges' starting points and ending points. To the best of my knowledge, the axelar.core.fact msg attributes database does not include information on the bridger's source wallet address, but it does include the bridger's destination wallet address (and its chain). For the purposes of this dashboard, I will thus treat the wallet address of the final destination to be the wallet address of the bridger. Due to the lack of a suitable daily balance table for other chains, I had to resort to the ethereum.core.ez current balances and osmosis.core.fact daily balances tables in order to determine the current value of my wallet. Regardless, we can extrapolate these findings to the other pathways as well.
The considered durations to find how often people are using satellite have been classified into daily, weekly, monthly, and quarterly periods.
SQL codes and main idea credited to Ali3N#8546’s Dashboard.
:hourglass_flowing_sand: Bridging Overview
- As of charts below, almost 370k times have transacted bridges via Axelar Satellite.
- Moreover, we can see the most number of bridge activity has achieved during last week of February and early weeks of March 2022.
- Moreover, we can see that in 2022, the months of February and March saw the highest concentration of bridger activity, while subsequent months saw a sharp decline. However, after October 2022, we can expect a slight uptick in bridge and bridger activity.
- The bridging transactions peaked at 25.5K in May 9th,2022, that executed by 4.5K unique Bridgers to 3.9K destination address.
✍🏻 Conclusion
- After reaching its maximum point between February and March of 2022, activity across the Axelar Satellite Bridge and its bridgers dwindled dramatically until October, when it began to rise again.
- Most bridgers have completed between two and five bridge deals, with only 5.78 percent having completed more than ten. Number of typical Axelar Network bridges.
- There is a strong positive relationship between a bridger's bank balance and the number of bridges he or she has built on Satellite bridge.
- Larger balance wallets, or "Whales," have been more likely to engage in bridge transactions. Conversely, the average number of bridges is lowest among users whose wallet balance is less than $100.
I want to appreciate ==Ali3N#8546== because of the inspiration on his dashboard.
About:
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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
Add Text Here
In previous bounties, we have tracked token flows using Satellite. \n
Today, let's take that a step further and plot out user types and their behavior leveraging Axelar's bridge. How often are people using Satellite - one-time transfers into IBC or more consistent/steady streams? Does this vary based on wallet size? Does this vary based on the ecosystem they are bridging from/to?
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.
:mag_right: Findings:
This part are allocated to destination chains in various period time.
The bubble chart above right shows the average bridges transaction count per chains in various period times.
As can be seen the monthly average bridges transactions are the most than others and terra was the first destination for beridgers.
As of above chart Ethereum chain attract the most bridged volume with nearly $300M.
The charts right show the count of bridge transactions, unique bridgers addresses and destinations of bridges over time in weekly timeframe & growth of bridging transactions an bridged volume($).
The bubble chart right shows the distribution of volume by transactions count based on average volume bubble sized.
as can be seen by growing the count of bridging transactions the average volume increased, too.
Also, as of next chart, the most of average bridged volume transferred in quarterly followed by monthly.
:hourglass_flowing_sand: Bridge Origins Overview
Following visuals present the origin bridges transaction state.
As of these, Axelar is the most popular Origin chain for Bridgers in monthly period time with over $100M.
Bridgers transferred the most volume in monthly and lowest volume in quarterly period.
The last two PIE charts show the percentages share of Destination and Origin chains.
:mag_right: Findings:
Most Axelar bridgers have completed between two and five deals, as seen in the chart on the right (47.4% of all bridgers). Second-placed bridgers have completed exactly one bridge deal (41.8%).
Only 2.89 percent of all bridge players have completed more than 10 bridges using Satellite.