Try Quests to earn AXLaxlUSDC: Soon to be forgotten?
Introduction
About Axelar
Axelar delivers secure cross-chain communication. At its core is a permissionless overlay network that supports Turing-complete message passing and composability of programs. A simple API enables developers to build cross-chain dApps that connect users to any application, any asset, on any chain via 1-click experiences. Axelar is for Web3 what Stripe is for mobile and internet applications. Axelar has raised capital from top-tier investors, including Dragonfly Capital, Polychain Capital, Coinbase, and Binance. Partners include major proof-of-stake blockchains, such as Avalanche, Cosmos, Ethereum, Polkadot and others. Axelar's team includes experts in distributed systems, cryptography, MIT/Google/Consensys alumni; the co-founders, Sergey Gorbunov and Georgios Vlachos, were founding team members at Algorand.
Question
Recently, Circle announced the implementation of an IBC-native USDC, inserting itself into an ecosystem where axlUSDC currently dominates.
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Let's look at how pervasive axlUSDC is within IBC. Track Satellite bridge activity strictly related to axlUSDC transfer. Which app-chains have the most/least flows of axlUSDC? Looking at Osmosis specifically, analyze how dominant axlUSDC has become compared to both ATOM and other USDC assets in trading and pools.
Methodology
In this dashboard we will see:
The reviews are from the beginning of this year.
We have checked the Axcelar transition table for input and output of AXLUDC.
The types of transfers under review are uusdc, IBC_TRANSFER_OUT and IBC_TRANSFER_IN.
In this case, we have used the following tables:
osmosis.core.fact_swaps
osmosis.core.dim_labels
axelar.core.fact_transfers
osmosis.core.fact_liquidity_provider_actions
osmosis.core.dim_prices
axlUSDC Outbound Transfers
Observations
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The highest number of transfers belongs to the month of August this year with more than 11.2 thousand transfers
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The largest number of transfers belongs to August this year with more than 11.2 thousand transfers, most of which were from the Axelar chain.
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Witness the monthly average with an amount of 4.5K which has been slowly rising
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Axelar is the most popular chain with more than 160 million dollars transferred
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Other chains have allocated much less transmission
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The most popular chain in terms of transfers is Axelar with about 50 thousand transfers
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In August of this year, transfers have increased significantly, the output of AXLUDC from Axelar is almost more than 50 million.
axlUSDC Inbound Transfers
Observations
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The largest amount of dollars is Osmosis with about 700 thousand transfers
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Next is kujira with 670K and evmos with about 620K transfer
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Transferring 1.2K axlUSDC to Axelar from Kujira, which has the largest volume Followed by Osmosis with around 1K transfers.
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According to the obtained results, it can be said that the average amount of transmission for Kujira and Osmosis is about 656K against almost 707K.
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The highest transfer amount belongs to October of this year with 2.5 million dollars
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The highest volume with 3.2 thousand transfers was in October this year
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Less than 1 thousand people from Osmosis and about 1.2 thousand people from Kojira
axlUSDC Pools Liquidity provided
Observations
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axlUSDC has the most liquidity after Atom despite the lower volume of LP
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Most of the amount paid was from Atom and USTC (Terra USD) until May of this year.
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The amount of LP fell by 1-2 million dollars, from a high of 80 million dollars during one week in March this year
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Even with the decrease in the number of LP transactions, Atom ranks first with 412K transactions, followed by axlUSDC with more than 65K transactions.
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Atom with a limit of 250,000 Lper is ranked first, followed by Ustc with more than 95k and axlUSDC with around 34k.
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Atom and USTC have the highest averages and are close to axlUSDC despite the significant decrease in the average price of Lp
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axlUSDC vs ATOM vs other stablecoin Swap Metrics
Observations
- Atom dominates the Osmosis scene, the number of transactions of Atom is about 2.5M transactions, followed by axlUSDC with about 640k and USTC with more than 620k.
- Witness the domination of Atom on the exchanges with a total of 726K and in the second stage USTC with about 200K and then axlUSDC with about 114K.
Conclusion
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Based on the analysis and the obtained results, Atom Token will be dominant in osmosis
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After the popular token Atom, the next place belongs to axlUSDC, despite the significant fall in May of this year.
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The highest number of transfers belongs to the month of August this year with more than 11.2 thousand transfers
-
The largest number of transfers belongs to August this year with more than 11.2 thousand transfers, most of which were from the Axelar chain.
-
Witness the monthly average with an amount of 4.5K which has been slowly rising
-
Axelar is the most popular chain with more than 160 million dollars transferred
-
Other chains have allocated much less transmission
-
The most popular chain in terms of transfers is Axelar with about 50 thousand transfers
-
In August of this year, transfers have increased significantly, the output of AXLUDC from Axelar is almost more than 50 million.
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The largest amount of dollars is Osmosis with about 700 thousand transfers
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Next is kujira with 670K and evmos with about 620K transfer
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Transferring 1.2K axlUSDC to Axelar from Kujira, which has the largest volume Followed by Osmosis with around 1K transfers.
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According to the obtained results, it can be said that the average amount of transmission for Kujira and Osmosis is about 656K against almost 707K.
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The highest transfer amount belongs to October of this year with 2.5 million dollars
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The highest volume with 3.2 thousand transfers was in October this year
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Less than 1 thousand people from Osmosis and about 1.2 thousand people from Kojira
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axlUSDC has the most liquidity after Atom despite the lower volume of LP
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Most of the amount paid was from Atom and USTC (Terra USD) until May of this year.
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The amount of LP fell by 1-2 million dollars, from a high of 80 million dollars during one week in March this year
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Even with the decrease in the number of LP transactions, Atom ranks first with 412K transactions, followed by axlUSDC with more than 65K transactions.
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Atom with a limit of 250,000 Lper is ranked first, followed by Ustc with more than 95k and axlUSDC with around 34k.
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Atom and USTC have the highest averages and are close to axlUSDC despite the significant decrease in the average price of Lp
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Atom dominates the Osmosis scene, the number of transactions of Atom is about 2.5M transactions, followed by axlUSDC with about 640k and USTC with more than 620k.
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Witness the domination of Atom on the exchanges with a total of 726K and in the second stage USTC with about 200K and then axlUSDC with about 114K.
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