Analysis

Understanding user behavior when interacting with cross-chain bridges is crucial for optimizing the functionality and user experience of these platforms. In this analysis, we delve into the differences and similarities between users of the Satellite Bridge and Squid Router, examining patterns in transfer events, bridge volume, and transaction sizes. In terms of transfer events, a significant majority of users (99%) on the Satellite Bridge have bridged assets only once. Similarly, about 80% of users utilizing the Squid Router have used the bridge a single time. However, the Squid Router sees more repeat users, with 12% of its users interacting with the bridge two to five times and less than 3% engaging with it more than six times. When examining bridge volume, about 90% of the total volume sent over the Satellite Bridge involved transactions exceeding $10,000. In contrast, the Squid Router saw approximately 70% of its transactions in this same value range. This data suggests that users of the Satellite Bridge tend to engage in larger transactions compared to those using the Squid Router. The user base of the Satellite Bridge and Squid Router display different preferences when it comes to transaction sizes. On the Satellite Bridge, the two largest groups of users transferred between $100 and $1,000 or $10 and $100 worth of tokens. Conversely, the two dominant user segments on the Squid Router conducted transactions either below $10 or between $10 and $100. This information indicates that the Satellite Bridge is more commonly used for larger transactions, while the Squid Router is preferred for smaller transfers. The comparative analysis of user behavior on the Satellite Bridge and Squid Router provides valuable insights into the preferences and tendencies of users interacting with cross-chain bridges. With the Satellite Bridge being more popular for larger transactions and the Squid Router catering to smaller transfers, understanding these patterns can inform platform development and optimization, ultimately enhancing the user experience and promoting further adoption of cross-chain transactions in the blockchain ecosystem.

Ecosystem Entrances: Revisited