Axelar Bridge

    • Last updated on Nov 24th we have 371k bridges or better called bridge transactions.
    • By the destination address there are 88.9k unique wallets made till now.
    • In the two graphs in the second row we have the weekly bridges number shown and on the Nov 7th, the number of bridges had a spike.
    • Just for a reminder Nov 7th is the infamous day of FTX insolvency.
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    • Average USD balance of bridge makers graph on the left shows that on the first spot we have rank +100 bridge makers with the average balance of $100k and in the top then the average balance is 3490 USD worth of volume.
    • We reviewed the number of bridges per bridge users and now we want to breakdown the numbers by USD balance of bridge makers and we see in the first spot that a big portion of bridge makers have more than $100000 balance.
    • Now the bridge makers are distributed by their total number of bridges breakdown by their wallet balance, in more than $100k we have 51% of bridge makers in the 2-5 bridges segment.
    • Even in average monthly number of bridge makers we can see that the users who have more than $100k USD balance have the most average of bridges per bridge maker and the number is 4.5.
    • Also the average time between bridges show that the wallets with more than $100k balance have less average time between their bridges which is 8.2 days.
    • To see how busy users are with the bridges and the volume of them we have the info bellow updated on Nov 24th.
    • As you can see the average number of bridges per bridger is 4.18 bridges and the average volume per user who made a bridge is 42.4k $USD worth of volume.
    • The monthly and weekly are in order the top two parameters in the average volume of bridges and in monthly column we have 313.9M and in weekly there is 82.6M worth of volume.
    • Same as the average volume we have the monthly and weekly in the top two spots in the final two graphs.
    • The average monthly number of active bridgers are 10.6k and on the average weekly active bridgers we have 3k active bridgers.
    • The distribution wheel bellow shows that in the first spot we have 45.4% of bridgers have 2-5 bridges per user. The 2-5 number bridge users are 40.3k in total.
    • In the following two column forms we have the top ten bridgers with their origin chain and destination by number of bridges.
    • As you can see in the both column forms we have one user in the first spots with origin of Axelarnet and destination of Polygon.
    • In the average monthly number of bridges and bridgers per source chain what we see is that the Axelarnet chain has the most number of users who made bridges to other chains.
    • The least number of bridges and bridge makers also goes to aurora, not even only in monthly but in all average categories.
    • In the second row of graphs however we have a little bit more different info and the average of bridges per month are listed by their destinations.
    • We see here that the most number of bridges and the users who make them per month goes to TERRA by destination. And the least amount goes to comdex.
    • The average number of bridges per destination chain says that KI is in the first spot and as you can see there is huge difference between the first and second spot.(almost 226 bridges)
    • The Axelarnet source is again in the first spot with the average number of bridges per source chain and number of 4.37 bridges.
    • Each bridge are made with a time pause in between and the average day time between them is 7.73 days.
    • In the binance origin which is the first spot in the avergae day time between, we can see there is a 14 day pause between bridges, and by destination we have Axelarnet in the first spot with 12.7 days pause in between bridges.

    Conclusion

    • Axelar bridge, As I said multiple times in my earlier articles, is a very secure and confident way of moving balance between different blockchains in simple words.
    • In the beginning we have the weekly number of bridges and what is noticeable is the spike in numbers on Nov 7th when the FTX event occurred.
    • In the top ten bridge makers with the most number of bridges based on their blockchain origin we can see the first user in the top ten made the most number of bridges from Axelarnet block chain. Also in the average number of bridges and bridgers by source we see the Axelarnet in the first spot and this clearly shows us that a lot of users are making bridges from this block chain to other destinations.
    • The axelarnet also has the most time delay between the bridges when it comes to it being the destination and this proves the info on the last line that with time going on the people who decide to move to axelarnet are decreasing and the people moving out of it are increasing.
    • The average number of bridges per bridger based on their wallet volume shows that the number of bridges made by people that have more than $100k USD balance is probably more which is reasonable because it is only natural for them to be more concerned about their possession , Not to mention that the average time between the bridges is less than others in this segment of USD balance.
    • Right now judging by the info on this article we can see that terra blockchain is the most chosen destination by bridge makers which makes it more trustable from the other blockchains.

    Appendix

    Thank you dear ==0xHaM☰d== for codes

    Source link :

    THANK YOU FOR READING!

    Introducing Axelar Network

    Axelar network is a scalable cross-chain communication platform. Blockchain platform builders can use it to seamlessly plug-in their blockchains to all other blockchain ecosystems. Application developers can choose the best blockchain to host their applications and use Axelar’s cross-chain communication protocols to lock, unlock, and transfer assets, as well as communicate with applications on any other chain. By connecting dapps with multiple blockchain ecosystems, the Axelar platform empowers users to interact with all applications across the ecosystem directly from their wallets.

    Axelar Stack

    On a high level, the Axelar network is a permissionless system which anyone can join to participate in various roles. The network is designed specifically to handle cross-chain requests with high safety, robustness, liveness, and governance. At the start, the network will power two foundational decentralized protocols:

    • Cross-Chain Gateway Protocol (CGP) is responsible for cross-chain routing and delivery across autonomous blockchains that may run based on different consensus protocols and finality rules, heterogeneous tech stacks, and even blockchains without smart contracts.
    • Cross-chain Transfer Protocol (CTP) is an application level protocol that serves as the gateway, allowing applications to perform simple queries via a unified API (think FTP, HTTP/HTTPS) to facilitate cross-chain operations. Dapps can send CTP queries to special gateways hosted on various blockchains, and CGP is responsible for their cross-chain delivery to the correct destination blockchains, and returning the results to the sending applications.

    Cross-Chain Gateway Protocol (CGP)

    This protocol is analogous to the Internet’s Border Gateway Protocol. While not widely known, this protocol is foundational in allowing us to route information across autonomous computer networks. Similarly, CGP is used to connect multiple autonomous blockchain ecosystems and is responsible for routing data across them. Importantly, CGP does not require blockchains to parse state of one another, nor does it impose any restrictions on the consensus rules or smart contract languages.

    Platforms can easily join the CGP by setting up a regular gateway account on the platform. However, actions on such accounts can only be executed collectively by a decentralized set of node-runners supporting CGP. These node-runners are responsible for monitoring for packets coming into the CGP gateways, reaching an agreement on what should be done with each packet, and subsequently routing and delivering them to their destination gateways.

    An important feature of this protocol is that it can finalize blocks of any chain via a 2nd-layer consensus executed by the protocol node-runners. This means that it can work with probabilistic chains just as easily as it works with chains that support instant finality.

    Cross-Chain Transfer Protocol (CTP)

    CTP is an application-level protocol. It is analogous to http/https/ftp-type protocols on the Internet. This application-level protocol sits on top of routing protocols, such as CGP and other routing technologies. Application developers can connect their dapps on any chain to perform cross-chain requests. Users can use CTP to interact with applications on any chain using simple API calls analogous to HTTP GET/POST requests. Developers can issue calls to:

    • lock, unlock, and transfer assets between any two addresses across any blockchain platform,
    • execute cross-chain application triggers. For instance, any dapp on chain A can update its state if some other application on chain B satisfies some search criteria (interest rate > X%),
    • perform general cross-chain requests between dapps (for example a smart contract on chain A can call to update a state of a smart contract on chain B). This protocol enables the composability of programs across blockchain ecosystems.

    Method

    Tables (axelar.core.fact_msg_attributes) and (crosschain.core.fact_hourly_prices) and (crosschain.core.dim_asset_metadata) and (axelar.core.fact_msg_attributes) have been used to make this dashboard.

    The average information is arranged hourly, daily, weekly and monthly.

    Daily information is from late February 2022 to date

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