1. Now the volume fee bridges by time show that they had a similar trend to the daily number of bridges in the first section and that is being in a rising trend through to the end of the graph. The peak of volume fee bridges was reached on Feb 2nd of 2023 after that we had only another peak that came close on Feb 8th of 2023.
2. The total volume of fee bridges once again displayes the advantage of wBNB over the other two assets, wMATIC an wAVAX, which come in the second and third place respectively.
3. It is obvious that the average of volume fee bridges increased after the bootstrapping with a simple look at the daily info above. The average of all time also can be seen in the second to last graph above which represents the increase in the average volume after Dec 19th of 2022.

1. Looking at the volume of bridges in the graphs of this sections we immediately notice a difference with the information from previous sections. In the information about the number of bridges and bridgers we saw a relatively uprising trend but here we can see the peaks of volume from bridges used to be much higher before the bootstrapping for example on Dec 5th and Nov 15th of 2022.
2. The volume of named dates in last line belonged mostly to wBNB and a little percentage for wMATIC.
3. In the comparison of average volume before and after we can see a small gap in favor of average volume after the bootstrapping. Also by comparing the avergae volume of each asset we can see the wAVAX was capable of topping the other two assets.

1. After the first section its time to pay attention to the number of bridgers. In this part we have the daily number of bridgers which got a huge rise after the bootstrapping date between Jan 29th and Feb 7th of 2023, similar to the number of bridgers graph in the previous section.
2. Based on the information of number of bridgers by assets it is safe to say that wAVAX bridgers start to apear after Jan 21st of 2023, before the mentioned date only wBNB and wMATIC bridgers showed up on the daily number of bridgers graph.
3. The average number of bridgers before the bootstrapping was 1 and after Dec 19th of 2022 this avrage increased to 1.74 based on the second to final graph above this text box. As always it is important to mention that these info's were last updated on Feb 12th of 2023.
4. The total number of bridgers of wMATIC asset is much closer to the total number of wBNB bridgers compared to the total number of bridges of both assets but still in this area wBNB comes in the first place and wMATIC and wAVAX took the second and third spot of the graph respectively.

1. In the first section here we have the daily number of bridges before and after the Bootstrapping, as you can see in the first and second column graphs of this part the columns tended to get much higher after the 19th of December of 2022. The first rise in numbers was witnessed on Dec 21st of 2022 and several peaks also happened with more intensity speacially on Feb 2nd of 2023 which we reached the highest number of bridges.
2. In the following column graph we have the same info about the daily number of bridges but also with specific number of assets that were bridged, as you can see before the bootstrapping the majority of bridged assets were wbnb but after getting closer to Dec 19th of 2022 and after that, the other two assets mostly wMATIC started to show them selves in the graph.
3. For quick study in the total number of bridges before and after we can take a look at the two final column graphs above and we can clearly see the difference between berfore Dec 19th of 2022 and after. The exact total number fo each mentioned assets also can be seen in the final column graph.

Volume Liquidity Of wAssets Pools Info

1. Now in the final section bellow we have the information about volume Liquidity of wAssets pool.
2. As you can see also in this sections graph the hight of columns clearly incerease after the Bootstrapping on Dec 19th of 2022, and we can almost say that it was a complete rising trend after the mentioned date and the volume liquidity of pools reached the maximum amount of the graph on Feb 12th of 2023.
3. By looking at the daily volume liquidity in the pools per asset we could say that more than half of the volume liquidity belongs to wBNB pool on the final day of the graph, the previous days also are in favor of wBNB volumes with owning the majority of the volume liquidity.

CONCLUSION

The final and complete goal of this dashboard is to check and see if the Bootstrapping proposal incentivized the users to transfer wAssets into Osmosis using the Axelar bridges. Clearly as you can see from start (number of bridges and bridgers) after the Bootstrapping on Dec 19th of 2022 forward the both number of bridges and bridgers started to rise, surly the rising trend has a oscillating form but at the end the averages prove that the total numbers noticeably increased as we progressed towards the end of the graph. The highest peak of volume of bridges used to happen before the proposal and mostly because of wBNB asset but the final average of volumes after the mentioned date still succeeded to grow as we got closer to the end of Feb 12th of 2023. Looking at the info of the final section regarding of volume liquidity of the wAsset pools it is safe to say their volume liquidity clearly rose to the highest peek in all the graph by the end of Feb 12th and this is because of the proposal. On the final day which we reached the highest amount of volume liquidity we can understand that more than half of this volume belonged to wBNB wAsset pool and the other two pools wMATIC and wAVAX came in the other spots respectively.

Appendix

• Author: Hojjat

• Discord: hojjat7878#8809

• Twitter: @hojjat8d

• Email: hojjat78delshad@gmail.com

• THANK YOU FOR READING!

Question

Most "wrapped" assets (WETH, WMATIC, WBNB, WAVAX, etc.) arrive on Osmosis via the Axelar bridge. Osmosis governance decides how to incentivize liquidity pools containing these assets. In the past two months we have seen incentives pass for wMATIC, wBNB, and wAVAX.

Task: Examine the impact of “bootstrapping” proposals on Axelar bridge volumes and fees paid. Did they sufficiently incentivize users to transfer external assets into Osmosis via Axelar’s bridge, or were the assets deposited into the respective pools already on Osmosis. Analyze the results in aggregate and by asset.

Goal: Identify if Axelar should work with Osmosis to incentivize more wrapped assets, in order to increase volume over Satellite and Squid.

Method

The information of this dashboard is from the beginning of August 2022 until today.

We have used the osmosis.core.fact_transfers table to find information about the bridge and the osmosis.core.ez_prices table to find information about currency prices.

To make this dashboard, we have used two filters, Time and Asset, we can see their codes:

• when CURRENCY = 'ibc/AB589511ED0DD5FA56171A39978AFBF1371DB986EC1C3526CE138A16377E39BB' then 'wMATIC'

• when CURRENCY = 'ibc/F4A070A6D78496D53127EA85C094A9EC87DFC1F36071B8CCDDBD020F933D213D' then 'wBNB'

• when CURRENCY = 'ibc/6F62F01D913E3FFE472A38C78235B8F021B511BC6596ADFF02615C8F83D3B373' then 'wAVAX'

  &&

• when day >= '2022-12-19' THEN 'Aftr Bootstrapping' ELSE 'befor Bootstrapping' END as time_period

Volume Fee Bridges Info

Volume Bridges Info

Number Bridgers Info

Number Bridges Info

What is Axelar?

Axelar consists of two layers: The network and the API above it.

At Axelar’s core is a permissionless overlay network. It delivers Turing-complete cross-chain communication via proof-of-stake and permissionless protocols. In this way, it’s similar to Akamai and other CDNs that enabled the rise of YouTube, Zoom and a globally interconnected web. Axelar validators monitor gateways on the interconnected chains (smart contracts) and run a decentralized protocol to process cross-chain messages between them. https://axelar.network/how-axelar-works

What is Osmosis?

Osmosis is an automated market maker (AMM) built on Cosmos that enables cross-chain transactions through Inter-Blockchain Communication (IBC). This gives the protocol an added layer of interoperability and composability. Unlike most existing AMMs, Osmosis is deeply customizable and allows developers to leverage many different changeable parameters to build truly unique AMMs that can dynamically fit a variety of outcome goals.Ultimately, Osmosis enables developers to design and deploy custom AMMs that can quickly adjust to changing market conditions and allow market participants to decide which iterations provide the most optimal results, rather than relying on the protocol itself. https://consensys.net/blog/cryptoeconomic-research/osmosis-a-fully-customizable-cross-chain-amm-built-on-cosmos/