Try Quests to earn AXLEcosystem Entrances
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 dashboard I used axelar.core.fact_transfers table to track transactions that performed to transfer asset To/From chains to each others. Also I tried to calculate the volume of transferred assets in $USD by helps of osmosis.core.dim_prices table.
To find the chains I used the first words of sender addresses as receiver chains and senders addresses as sender chains.
I excluded CURRENCY ilike any ('factory%', 'gravity%') to offer a more nice charts and ignored those because of their low transferred volume.
The axelar.core.fact_msg_attributes used to find the EVM chains by MSG_TYPE = 'axelar.evm.v1beta1.ConfirmDepositStarted'.
Also I set an selective interval to change calculation timespans by your choice if you want.
✍🏻 Conclusion
As of findings above:
- The LUNA crash in May 11th led to transferred an huge volume by Satellite platform two days before in May 9th.
- To date, $119M has been transferred to and from Terra, making it the most popular chain.
- To date, 119 million US Dollars have been transferred in Luna, with $14 million transferred in WETH being the second most popular asset.
- Terra has been the most popular chain with 101K transfers to date, followed by OSMO with 43K transfers.
- Also in terms of total transferred volume in $USD, Terra chain with more than $118.4M was in the first popular place, followed by OSMO with $24M.
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
Welcome to Axelar!
The aims of dashboard is looking at:
What better to way to get used to Axelar data than to analyze how people enter the ecosystem? With that in mind, analyze the activity that occurs on Axelar's Satellite Bridge. Since inception, what are the top paths over Satellite. by volume and $ amount? What is the most used token to transfer (USDC, wETH, wAXL, etc.)?
Top analyses will show bridging activity since inception and analyze how that has changed 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.
:telescope:Findings:
As of charts above we can found that Feb was the most volatile months for the Satellite platform, and the highest volume of transfers and transactions count took place on this month.
After a felling down in late of Feb in transactions count and volume till late of April, it can be seen that the trends of this two metrics increased to date.
Most transferred asset volume was LUNA with nearly 80% of total transferred volume, that is belong to before luna crash on May 11th.
Also more than 60% of bridgers transferred LUNA & USD that followed by USDC with 25%.
Top asset of most used to transfer in terms of transactions count was the AXL with 30% that followed by USD USDC with 26 & 21.4%, respectively.
Note: When you send ==UST== token from terra chain to an EVM chain, you will received ==USD== on EVM chain.
:telescope:Findings:
In the charts above we can found what was the reason of most volume of transferring LUAN and terra chain.
As of this charts can be seen in May 9th, the huge of luna and USD were transferred, we knew this date in just two days before LUNA crash in May 11th.
$92M Luna was transferred in this date.
:hourglass_flowing_sand: The following visuals show the most popular destination of transferred assets
:telescope:Findings:
As of visuals above can observed that the most popular destination assets was the AXL token in terms of transactions count.
But the most volume transferred to INJ with 67.1% of total volume in $USD, followed by AXL with 31.7%.
In cumulative transactions count OSMO has 9.4K transactions in total, that followed by Crescent with 7K in total.
