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    Squid Axelar : New Kid On The Block

    Axelar’s General Message Passing primitive has been live for a long time; however, the launch of Squid Protocol has brought GMP into the spotlight. Now, users can swap any token on their source chain for any token on their desired destination chain, with on-click of a button. How has this frictionless experience impacted Axelar’s token transfer volume via their native bridge Satellite? Analyze user growth for Squid vs. Satellite since Squid’s launch on Flipside supported chains (Ethereum, Avalanche, Binance, Polygon). Have Satellite’s DAUs remained loyal, or are they transitioning to Squid for their cross-chain transfers? Or are the users different? Provide a user segmentation analysis of Squid.

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    📜 Introduction

    Generalised message passing > Bridges

    Squid uses general message passing. General message passing allows us to get value across chains without locking up more assets on a bridge and creating a massive honey pot, ripe for hackers.

    What is Squid?

    Squid is the liquidity and messaging router built on Axelar. We allow applications to implement fast, secure and seamless cross-chain logic into their products, making life easier for builders and users alike.

    Reference : Squid: Single Click Cross-Chain Swaps and Messaging

    ⚒️ Methodology

    In this dashboard, I have analyzed on the exposure of Squid GMP as compared to Axelar Satellite Bridge. The analysis is basically user oriented. Analysis on each user's behavior and how each platform perform.

    There are couple of tables that I should be highlighting here. They are : axelar.core.fact_transfers, axelar.core.dim_tokens, arbitrum.core.fact_event_logs, bsc.core.fact_event_logs , avalanche.core.fact_event_logs , polygon.core.fact_event_logs , ethereum.core.fact_decoded_event_logs and couple of dim_contracts and fact_msg_attributes table from each chains.

    Section

    1. Axelar Satellite bridge vs Squid GMP users and transactions

    2. User Segmentation and behavior in both platform

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