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What is Cosmos?
Cosmos (ATOM) is a cryptocurrency that powers an ecosystem of blockchains designed to scale and interoperate with each other. The team aims to "create an Internet of Blockchains, a network of blockchains able to communicate with each other in a decentralized way." Cosmos is a proof-of-stake chain.
What is Axelar?
Axelar provides a decentralized network and tools that help connect dApp builders with multiple blockchain ecosystems, applications, and users for frictionless cross-chain communication. Axelar consists of a protocol suite, tools, and APIs, designed to break down the barriers to cross-chain communication.
What is the Satellite Bridge?
Satellite is a web app built on top of the Axelar network. Use it to transfer assets from one chain to another.
Introduction
The following dashboard provides an overview of the fees generated in $axlUSDC for all transfers via Satellite. It maps out these fee streams and shows the total amount of $axlUSDC generated via Satellite, as well as the origin chains that have generated the most fees. This information can be used to gain insights into the performance of the Satellite system and its impact on the $axlUSDC economy.
Satellite Bridge axlUSDC Transfer by To Chain
Analysis
Based on the observations from the graphs on the dashboard, it can be concluded that Ethereum is a popular destination for Satellite Bridge transactions. This is indicated by the fact that Ethereum is the destination of between 10% and 30% of the transactions, but makes up between 50% and 80% of the transaction volume. Additionally, in August, a significant portion of the transfers from Axelar went to Kujira, which suggests that Kujira is also a popular destination for these transactions. Finally, the data shows that transfers to Ethereum are consistently the largest transactions by chain, further emphasizing its popularity. These findings can be used to inform future decision making and strategies related to Satellite Bridge transactions.
Satellite Bridge axlUSDC Fees
Analysis
There has been a total of 1840 transactions of axlUSDC, which have generated 3.59 million in fees. This suggests that there is a significant amount of activity in the axlUSDC market and that these transactions are generating a significant amount of revenue. Overall, the data from the dashboard suggests that there is a significant amount of activity in the axlUSDC market, with Ethereum and Polygon being the two most active chains for sending axlUSDC. Additionally, the fees for axlUSDC transactions have been increasing over time, which could indicate a growing demand for the currency.
Description
The data for the graphs above show the transfer activity from the Axelar Satellite bridge to the chain selected in the ‘to_chain’ select box.
Analysis
Based on the observations from the graphs on the dashboard, it can be concluded that the vast majority of IBC transfers and the volume of axlUSDC from OSMO are to AXL. This suggests that AXL is a popular destination for these transfers and that there is a significant amount of activity in the AXL market. Additionally, the data shows that starting in July, the volume of Evmose axlUSDC has dropped off significantly. This could be due to a number of factors, such as a decrease in demand for Evmose or a shift in the market towards other chains. Finally, the data indicates that most days, there is a significant amount of axlUSDC transfer volume from OSMO, with most days seeing between 500K and 1 million in transfer volume. This indicates a high level of activity in the OSMO market. These findings can be used to inform future decision making and strategies related to IBC transfers and axlUSDC.
Conclusion
In conclusion, the dashboard provides an overview of the fees generated in $axlUSDC for all transfers via Satellite. The data shows that there is a significant amount of activity in the axlUSDC market, with Ethereum and Polygon being the two most active chains for sending axlUSDC. Additionally, the fees for axlUSDC transactions have been increasing over time, which could indicate a growing demand for the currency.
Satellite Bridge Transfer by Token