Methodology

In this Dashboard, We are going to check if any of these ==outflows== from ==FTX== flow across the ==Satellite== to another destination chain. Then, We are going to track ==outflows== from ==FTX== exchange wallets to the Ethereum chain. Then, We are going to check the ==activity== around ==Axelar Satellite’s Bridge== during the ==FTX & Alameda collapse==. For this purpose, I am going to analyze data over the ==last 30 days== (on over-time and average charts in order to be able to compare data before and after collapse).

The main table that we are going to use to analyse activity over satellite’s bridge is axelar.core.fact_msg_attributes==. The main tables to track outflows from FTX into Ethereum are ethereum.core.ez_eth_transfers (for ETH transfers), ethereum.core.ez_token_transfers (for other tokens transfers) and ethereum.core.dim_labels (for identifying the FTX wallets)

• The first 3 column forms here show us the outflow from FTX to Ethereum.
• As you can see after the FTX collapse a large number of users on FTX tried to escape the event to maintain their savings.
• Now we take a look at these graphs an we can see that on Nov 7th the number of outflowers, volume of outflow and number of outflow transactions from FTX to Ethereum reaches its maximum and after that they slowly decrease unlit Nov 12th which there are barely any transactions left.
• Here in the Inflow/Outflow and net flow of FTX to Ethereum we can see even before the collapse happening around Nov 7th the net flow of FTX already was dropping under the dead line from Nov 5th.

• In the following 4 graphs bello first we have the top ten outflowers by volume on the left and by TX count on the right.
• Then we take a look at the outflow destinations from FTX to Ethereum.
• It is obvious to look at the destinations when we mention users running away from FTX.
• And as you can see in the column forms the first and most trusted destination among the named one, by Tx count and by volume is BINANCE.

• Satellite bridge is another one of transferring currency in crypto world and at bottom we can see how many bridges were made after the collapse.
• After the Collapse on the Nov 7th we can see a rise in all the charts.
• The daily number of bridges and volume rise to their maximum on Nov 9th and after that they slowly drop to their usual rate before the collapse.
• What is in common with all the graphs is that before the collapse all of them have a huge number on Oct 28th.

• Here with the average of daily satellite bridges, we can see that the collapse side effect clearly left its mark on the amount of bridges.
• On the left, we have the volume of bridges which has risen by approximately 25% after the collapse compared to its previous state.
• Even the average daily number shows a rise in the count of bridges after the event. Not to mention the user count has changed also.
• In the second row of column forms we can see that the Ethereum is the most chosen destination from FTX via the satellite bridge and over 33% of the number of bridges and 82.7% of their volume lead to Ethereum.

• In the first two graphs bellow we can see the destinations with their own number of bridges and volume.
• Like the same info as before Ethereum has the most number of bridges and volumes amongst the other platforms.
• In the bridged tokens section what we understand is that AXL and USDC were the highest tx count between the tokens that were bridged but In the volume however we have USDC in the first spot and the ETH in the second.

The daily number of satellite bridges by count and volume are shown in a normalized form down bellow to compare a specific chain with another you can click on the legend and turn of unneeded parameters.

Conclusion

• The panic of users in the cryptocurrency markets continue, specially for the FTX users and here we can see how many users with what volume of currency chose to relocate their savings.
• Mostly we managed to keep an eye on the satellite bridges and we have seen these bridges were used in numerus counts to different destination by different users.
• The first three top destinations are in order, Ethereum, polygon and my dear osmosis.(most of the articles on my dashboard cover the detail of Osmosis thats why im so excited about it:D)
• And the most number of tokens moved via these bridges by count are AXL and USDC but volume wise we can see that USDC and ETH (despite the low count is numbers) have the most volume between the tokens that were moved via satellite tokens.

Appendix

• Author: Hojjat
• Discord: hojjat7878#8809
• Twitter: @hojjat8d
• Email: hojjat78delshad@gmail.com

Thank you dear ==Jack The Guy== and ==alik110== for codes and Method

THANK YOU FOR READING!

Introducing Axelar Network

In the last few posts (I, II) we looked at the existing interoperability landscape and the properties needed from scalable cross-chain communication networks. In this article we’ll introduce Axelar network, our protocol stack, and platform. For more details, please see the whitepaper.

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.