The Airdrop

The ACX token will be airdropped according to a matrix of criteria measuring early support. These include strategic support in the community, liquidity provision, as well as those who led the way by testing the Across protocol when it was new. You can find the scripts here on GitHub. On the airdrop dashboard you can connect your wallet and Discord account to see for which metrics you qualify.

The Across Bridge and ACX

Across is a bridging protocol that connects chains together using trustlessly enforced, short-term financial contracts. This is why Across Protocol is able to support more volume with the same capital.

ACX token holders will control protocol parameters and approve upgrades. They will also be responsible for DAO treasury management and diversification.

It is our vision for Across Protocol that it meaningfully reduces the network-wide cost of bridging for the Ethereum ecosystem. In this version of the future, the transaction and time cost of bridging is low enough for markets to be efficient across the chains Across supports.

Part I: ACX Price Chart (Source: CoinMarketCap)

Part II: Airdrop

Part III: Bridges Comparison

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What happened that many of the wallets included in this airdrop did not take action to claim what was assigned to them, and only about 4m of the 115 million ACX tokens allocated to the airdrop were claimed? What I witnessed on the day of caliming the tokens is that many users were so unhappy with the price that for many of them the cost of claiming (which was automatically staked at first) and then withdrawing it, both on It was the ethereum network, according to the high gas on the first day of the claim, it would exceed the dollar value of what was assigned to them. Therefore, it seems that a large part of users have waited to claim the tokens at the right time and sell them at a more suitable time.

It is interesting that according to the above conditions, a user has claimed 0.003 of the ACX token. It was a very strange action.

The criteria for awarding the ACX token to users has been interesting. It seems that the criteria were so flexible that none of the top 10 claimers claimed the same amount.

The criteria for awarding the ACX token to users has been interesting. It seems that the criteria were so flexible that none of the top 10 claimers claimed the same amount.

The top claimer was awarded more than 2.22 times the 10th ranked claimer, ACX token.

The first three graphs of the first row clearly show that, as expected, during the first hours of claim airdrop activation, a large part of claimers try to claim their tokens and sell them at the prices of the early hours, which are generally higher than the later hours. Here, at 14:00 (UTC time), 344 users have claimed more than 2.17m ACX tokens. (about 55% of all claimed ACXs)

The very low price of this token (which was not unexpected in this bearish market) caused the number of claims to reach less than 10 per hour after less than 24 hours of claiming.

The minimum volume of claims per hour has increased with the passage of time and the number of claims has decreased. While the largest volume of claims has decreased after the initial hours. This shows that the users who have received a large number of these tokens have claimed their tokens in the early hours.

The Hop bridge completely wins over its other two competitors in terms of the number of bridges and the number of bridgers. The following numbers show the superiority of this bridge:

• In terms of the number of bridges: about 2 times the number of Synapse bridges and 6.81 times the number of Across bridges
• In terms of the number of bridgers: 5.22 times the number of Synapse bridgers and 7.1 times the number of Across bridgers

But in examining the volume of USD bridges performed, one can see an absolute superiority in the case of Synapse:

• The volume of USD bridges in Synapse: about 6 times the volume of USD bridges in Hop and more than 60 times the volume of USD bridges in Across

But if we go to the average numbers, we can see that there is a closer competition between these three bridges in some parameters:

• In the average number of bridges per bridger, the superiority is with Synapse. The number of bridges per bridger in Synapse is 2.52 times the number of bridges per bridger in Across and 2.62 times the number of bridges per bridger in Hop.

But the volume of USD bridges in Synapse is so high that if dollar values ​​are involved, the other two bridges have no chance to compete with this bridge, even if we resort to average numbers:

• Average USD volume per bridger in Synapse: 31.27 times the average USD volume per bridger in Hop and 43.32 times the average USD volume per bridger in Across

Synapse has the upper hand (by a large margin) in all three parameters of the average, maximum and median volume of USD bridges.

Daily Review

Well, well, well. Again the campaign of Odyssey Arbitrum and again explosive growth in the platforms that were present in this platform. In the first week of the campaign, the Hop bridge was one of the most used bridges that attracted many users with the incentives it had built. The result of this incident can be clearly seen in the graphs of the number of bridges and the number of bridgers. But in the volume of USD bridges, why is there no effect of this campaign as much as the previous two parameters? Because there was no specific minimum for bridging to Arbitrum and many users have done their bridging with the minimum possible amounts.

Among these three bridges, Hop is the oldest, followed by Synapse and then Across. At the beginning of the introduction of Synapse, it can be seen that it took part of the share of Hop, but with the passing of more time, we again see the growth of the share of the Hop bridge until the Across bridge was introduced. The growth of Across over time and the popularity of Hop has made Synapse's share in the bridges of recent months less than before. The situation in terms of trends in all three parameters is the same, but their intensity is different in different parameters. Especially in the volume of USD that Synapse had completely defeated Hop after its introduction. Of course, this superiority has decreased a little in recent months.

Although Synapse has seen its share decline in recent months, it is in a good position compared to its competitors in terms of averages. This means that although the number of its bridges has decreased, the number of bridgers has decreased by the same amount, and for this reason, the average number of bridges per bridger does not show a noticeable decrease. But regarding the average volume of USD per bridger, we can see a decreasing trend.

Top Claimers

Among the top 10 bridges of each bridge in terms of the number of bridges, although the top bridger among these top bridges belongs to Synapse (address: 0x230a1ac45690b9ae1176389434610b9526d2f21b with more than 121.5k bridges!), but the top Hop bridgers in Compared to other top two bridge bridgers, they are hardly able to cope.

Among the top 10 bridges of each bridge in terms of USD bridge volume, although the top bridger is still Synapse bridger (address: 0x230a1ac45690b9ae1176389434610b9526d2f21b with more than $6.25b bridge!), but the top Hop bridger compared to Although the Synapse top bridgers are a little lower, the distance between the two is very small compared to the Across top bridgers.

Among the top 10 bridges of each bridge in terms of USD volume, there is only one address that is in the top 10 list of two bridges (Synapse and Hop):

• 0x47ed57f375d3dddae2ded7a6de522c35bc9419af

TVL Overview

Although Synapse launched days after Hop and is much lower than Hop in terms of number of bridges and bridgers, its TVL to date is 1.07 times that of Hop's TVL. The TVL less than $100k of the Across bridge also shows that this bridge has nothing to say in this regard compared to the other two bridges. We have seen this statement well in the reviews above.

But by checking the daily TVL trend of these bridges, it can be seen how Synapse has created a high TVL for itself several days after starting its work, and from this point of view, it has been the top bridge (among These three bridges) have been in terms of TVL. But from the beginning of April 2022, it can be seen that the fall of the TVL of this bridge has taken place, and in June it has reached the point where the TVL of this bridge and the Hop bridge have reached the same level, and since then until today, it has been a close competition between the two. Is. Bridge Across has never had a TVL higher than $1m in any day.

Bridges and Tokens

The top token in all three bridges and in terms of all parameters examined is ETH. (Except for the dollar value in Across and Synapse bridges, it can be seen that USDC has more USD volume than ETH.)

It can be clearly seen that after ETH, important market stablecoins such as USDC, USDT and DAI are among the top tokens of these bridges.

The usage of ETH token in Bridge Hop is very wide. So that the number of users who use this token in their bridges is more than 10.4 times the number of users who choose the USDC token as their token for bridging (the second most popular option among the bridgers of this bridge).

The number of tokens used in bridges is significantly higher in Hop bridge than the other two bridges. In the next rank you can see Synapse and in the last rank Across.

Methodology

First of all, I have to say a big thank you to Ali3N for his brilliant performance on this dashboard, and a big credit for his great effort and helping me get the answers to this bounty.

My dashboard consists of three parts:

In the first part, I have placed the price chart of the ACX token.

In the second part, I reviewed the airdrop status of the Across protocol. In this study, parameters such as the number of claims, the number of claimers, the volume of claimed ACX, the average of claimed ACX per user along with the average, maximum and minimum volume of claimed ACX were obtained. Then the top 10 claimers of this airdrop were obtained until this moment. Finally, some of the above parameters are hourly (considering that it has only been three days since this airdrop was claimed, it seems that setting the time in the form of time is a better idea).

In the third part, the three bridges Across, Hop and Synapse in terms of the number of bridges, the number of bridgers, the USD volume of bridges, the average number of bridges per bridger, the average volume of USD bridged by each bridger along with the average, maximum and median USD volume Bridges were obtained for all three. These parameters were first examined in an overview and then their daily status was also obtained in the form of three charts (Area charts, normalized and cumulative charts). Then these three bridges were compared in terms of TVL on today's date and also on a daily basis.

The top bridgers of each of these bridges were determined both in terms of the number of bridges and the volume of USD bridges. Finally, the bridged tokens were obtained through each of these bridges and it was determined what the status of each of these tokens is in terms of the number of bridges, the number of bridgers, and the USD volume of the bridges.