What was Interop Summit?🚨

The Interop Summit was blockchain’s first-ever universal gathering point for builders creating dApps that span Web3. The 2-day event brought together the best minds from every ecosystem as speakers and educators in workshops, panels and private VIP events.

The Interop Summit took place at ETHDenver's BUIDLweek, Feb. 27-28, 2023.

More Information

Method⚡

In this dashboard, I analyzed the activity of the Satellite and Squid platforms on Axelar, focusing on the most popular bridges on Axelar Network since the beginning of February 2023. My goal was to understand how the Axelar Interop Summit event on February 27th impacted these platforms before and after the event.

To start, I examined the overall activity and user growth for both Satellite and Squid. Then, I dug deeper into the behavior of Squid users, specifically looking at what they do after swapping their tokens in the Squid router. By analyzing this data, I hoped to gain insights into how the Axelar Interop Summit affected user engagement and activity on these platforms.

Data: Flipsidecrypto

Introduction🚩

Welcome to my dashboard, where we will dive into the world of blockchain and explore the activity of two popular bridges based on the Axelar network - Satellite and Squid. We will take a closer look at their performance before and after the highly anticipated Interop Summit event, which was held on February 27th and 28th in Denver, Colorado.

What are Satellite and Squid Platforms?🔍

Axelar Satellite and Squid Bridges are both cross-chain interoperability solutions that allow different blockchain networks to communicate and exchange information with each other.

Axelar Satellite is a decentralized network of relayers that enables communication between different blockchain networks. It uses a protocol called Inter-Blockchain Communication (IBC) to securely transfer assets and messages across different blockchain networks. Axelar Satellite allows for the seamless transfer of tokens, data, and other assets between blockchains.

Squid Bridges, on the other hand, is a set of smart contracts that enables the transfer of tokens and other assets between different blockchain networks. It uses a technique called "bridge contracts" to allow assets to be locked on one blockchain while a corresponding amount is minted on another blockchain. Squid Bridges also supports the transfer of non-fungible tokens (NFTs) between different blockchain networks.

Both Axelar Satellite and Squid Bridges are designed to promote interoperability between different blockchain networks, which is a critical feature for the development and adoption of decentralized applications (dApps) and decentralized finance (DeFi) solutions.