Q17. What is the gross bridge activity (in usd, by day) for Blocto Teleport and cBridge to and from the FLOW blockchain?

Methodology

In this dashboard we check two bridged activity for flow blockchain (Blocto and cBridge).

We first check their total outbound and inbound amount and transactions on daily basis.

Then we analysis the most used bridge to transfer from and to flow chain.

Next, we order inbound and outbound amount by “blockchains“ to see which blockchain has the most interaction with these bridges.

Finally, we order inbound and outbound amount by “token“ to see which tokens are most popular to be transferred by these bridges.

Due to the bug in the flipside bar charts, hover data doesn’t represent the sum but y-axis numbers and bar height is correct.

Inbound → by Bridge

Inbound amount of tokens to flow blockchain by two different bridges ( cbridge and blocto ) is visualized above. As we can see on most days users transfer more amount in USD to flow chain by blocto bridge rather than cbridge. On some days like May 16 we didn’t have any data on cbridge and only $7000 is transfered by blocto. On the other hand, in some days like May 4 and June 2, transferred amount by cbridge is suddenly raised and on June 29 which we had a spike in inbound amount, the most used bridge was cbridge with $890k.

Due to the sudden increase in cbridge usage and steady usage of blocto, inbound volume in both bridges is somehow same and blocto has 52% of total bridged amount in USD and cbridge has 48%.

($2M -→ blocto , $1.8M -→ cbridge)

Outbound → by Bridge

Outbound amount transferred from flow blockchain is completely in favor of blocto. From April 20 we had transfer on blocto while cbridge was used rarely. On May 10, $690k bridged from flow and 0 from cbridge. On days like June 27, $17k bridged from cbridge. 98% of total outbound bridged amount in USD is from blocto.

Inbound → by Blockchain

The inbound volume to flow blockchain can be gained by different blockchains. Ethereum blockchain has the most bridged amount. ETH -→ flow has 85% of total transferred amount. Solana and BSC are next blockchains. On June 29, $850k were bridged from Ethereum to flow. It seems on days the activity on ETH -→ flow increases, users are choosing cbridge more and cbridge can be more favorable to transfer amount from Ethereum blockchain to flow. More than $3M is transferred from Ethereum to flow. $432k from Solana and $111k from BSC. Polygon, kava, evmos and other blockchains have rare activity on these bridges

Outbound→ by Blockchain

Most of outbound amount bridged from flow was also to Ethereum blockchain. On May 10, $680k were bridged from flow to Ethereum all by blocto. USD amounts are also bridged from flow to Solana and BSC but it is not every day and 78% of total outbound amount from flow is going to Ethereum, 18% to Solana , 2% to BSC and other chains are coming next.

Inbound → by Token

Checking which token is bridged into flow blockchain, we see Rally on top of the list. More than $1M Rally is transferred into flow since April 20. Although the most transferred Rally was transacted on June 29. On May 4, $239k WETH were bridged to flow and on June 2, $250k WBTC bridged to flow. On June 29, $891k Rally bridged to flow blockchain. USDT is transferring almost everyday.

Outbound → by Token

Most popular token transferred from Flow to other blockchains is USDT with over $3M and 48% of total outbound amount. Next is Flow token with 28% of total transfer followed by Blocto and Starly.

On May 10, $627k Flow bridged out of flow ecosystem and made a spike on outbound bridged amount ordered by tokens.

Net Inflow ($USD) to Flow blockchain

The amount of net inflow into the flow blockchain in USD is shown with green bars. This amount had spikes on May 4 with 278k inbound in total and on June 29 with over $933k net inflow into the flow ecosystem. Outbound amount from flow blockchain is marked with red bars and it is more than inbound amount in daily basis. Net_inflow which is the result of inbound and outbound amount is shown with black line is in favor of outbound specially between May 9 to May 13.

It seems as the flow price fall gradually since April, the amount of inbound to flow blockchain slightly increased and users bridged to flow system more.

Compare Inbound vs. Outbound transactions

The right chart is inbound and outbound transactions over time. Obviously outbound transactions from flow blockchain is more than inbound transactions every day. The spikes on outbound graph is sharper and more than inbound transactions. On days like May 11 and 18 we had 44 and 47 tx outbound and only 19 inbound. On June 29 there was biggest spike in outbound transaction number and it was 69.

Conclusion

• Outbound transactions from flow blockchain to other chains is more than inbound transactions.
• On June 29, Rally token from Ethereum blockchain bridged into the flow blockchain by cbridge.
• Rally is the most popular token transferring to the flow system and USDT is the most token transferring out of flow blockchain. (If we exclude the sudden spike on June 29, USDT is actually the most popular inbound token to flow network)
• Most USD amount is transferring from and to the Ethereum network.
• Blocto is user’s favorite bridge both inbound and outbound in daily basis. cbridge is usually used when users want to bridge from Ethereum to flow blockchain.