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Arbitrum is a layer 2 scaling solution for Ethereum that aims to improve the network's transaction throughput and reduce gas fees. It works by creating an off-chain network that interacts with the Ethereum mainnet, allowing for faster and cheaper transactions. To promote the adoption of their platform, the Arbitrum team conducted an airdrop of their native token, ARB, to users who had previously interacted with Ethereum-based DeFi protocols. The airdrop was designed to incentivize users to try out the Arbitrum network and participate in its ecosystem.
After claiming their tokens, many users have chosen to hold onto them as a long-term investment or use them to participate in various DeFi protocols that are built on the Arbitrum network. Some users have also taken advantage of the lower transaction fees on Arbitrum to trade on decentralized exchanges or make transactions on other DeFi platforms.
Arbitrum's relationship with Axelar Chain and its bridges lies in the fact that both projects are focused on improving the interoperability of blockchain networks. Axelar Chain is a decentralized network that aims to connect various blockchain ecosystems, allowing for the seamless transfer of assets and data across different networks. Arbitrum's layer 2 solution can be integrated with Axelar Chain to facilitate the transfer of assets and data between Ethereum and other blockchain networks, further improving the overall interoperability of the blockchain ecosystem.
In this dashboard i provided an analysis about arbitrum airdrop, airdrop claimers and their behavior after the airdrop and their bridge activity in overall and also on Axelar bridges during this period since Arbitrum airdrop launch on March 23th 2023.
I Extracted the data from Flipsidecrypto database and used multiple tables from Arbitrum and Axelar and Osmosis Schemas to obtain the needed data and do my analysis.
At first i analyze arbitrum airdrop general statistics in both over time and overall metrics and explore its allocation and users claimed amount distribution. Then i went through claimers bridge activity to see how they performed after they claimed their tokens. After that i provide an in-depth analysis about $ARB token trading activity and selling actions by claimers and at last i analyzed $ARB claimers bridge usage on Axelar bridges including Squid and Satellite to see where did they send their tokens to and used which bridge more than another.
Follow the dashboard to see more valuable insights!