The Rainbow Bridge is a trustless, permissionless protocol for connecting blockchains. The bridge protocol removes the need to trust anyone except the security of the connected chains. Anyone can deploy a new bridge, use an existing bridge, or join the maintenance of an existing bridge without getting approval from anyone else.

The Rainbow Bridge allows any information that is cryptographically provable on Near and Aurora to be usable in Ethereum contracts and vice versa — including the ability to read the state and schedule calls with callbacks on the other chain.

The nature of the Rainbow Bridge means it is fully decentralized and adaptable to any future protocol changes. For more details about the architecture of the Rainbow Bridge, read the technical deep dive here.

In this dashboard, I investigate the Rainbow Bridge since the beginning of 2024.

Overall, the platform has experienced around 33K bridge transactions and has about 2.7K bridgers, collectively bridging approximately $49M USD during this period. The average bridge volume is about $1.5K USD, with a median bridge volume of about $150 USD. The highest bridge volume recorded is around $726K USD.

On average, the platform handles about 230 transactions per day and serves 18 users per day. USDC.e is the most popular token for bridging, boasting the highest bridge volume with over $19M USD.

When grouping transactions by their volume, most transactions fall between $100 and $500. Additionally, when grouping users by their number of transactions, most users made only one transaction.

Comparing the bridge to the Near network (Inbound) and the bridge from Near (Outbound), the Outbound bridge has the highest number of transactions, while the Inbound bridge has the highest number of users and bridge volume. This indicates a tendency for people to bridge into the Near network via the Rainbow Bridge.

Furthermore, examining Rainbow routes, the Aurora to Near route is the most popular in terms of the number of transactions and users, while the Ethereum to Near route has the highest bridge volume.