$AXL Token Recap
Since the $AXL token launch, how have wallets that bought $AXL used it? Are most wallets hodling or trading? What is the average holding period for wallets buying $AXL in the last month? Generally speaking, have users kept $AXL on exchange (in their Osmosis wallet) or have they bridge to other places? Analyze $AXL balances on Osmosis as compared to native on Axelar. How have these balances changed over time?
![db_img](https://uploads.flipsidecrypto.com/product/images/aiYrze56MhX_.jpeg)
What is Axelar?
Axelar delivers secure cross-chain communication for Web3. Our infrastructure enables dApp users to interact with any asset or application, on any chain, with one click.
Simply put, Axelar network is a blockchain that connects blockchains, enabling universal Web3 interoperability. The network is secured using proof-of-stake consensus, and messages are routed and translated using permissionless protocols. As an analogy, Axelar is like Stripe for Web3.
Axelar is composed of a decentralized network of validators, secure gateway contracts, uniform translation, routing architecture, and a suite of software development kits (SDKs) and application programming interfaces (APIs) to enable composability between blockchains. This allows developers to build on the best platform for their use case, while being able to access users, assets and applications in every other ecosystem. Instead of pairwise cross-chain bridges, they can rely on a network architecture that provides a uniform code base and governance structure.Axelar’s ultimate goal is to build the underlying infrastructure for onboarding the next billion people onto Web3. In order to achieve this goal, Axelar will:
- Make it easy for blockchain developers to plug in and communicate with other chains.
- Provide decentralized application (dApp) developers with cross-chain composability.
- Allow users to interact seamlessly with applications across multiple ecosystems.
The Axelar SDKs provide a rich suite for developing Web3 applications, ensuring that developers have the tools they need for building. With these tools and APIs, developers can use the Axelar network and its SDKs to write dApps that can be easily deployed across all Axelar-connected ecosystems. In other words, Axelar distills cross-chain interoperability down to a simple set of API requests. This is absolutely central to adoption, as the developer experience around deploying Web3 applications must be like the experience today for Web2 developers, where the underlying networking and ecosystem-specific deployment considerations are largely abstracted away.
What is Osmosis?
Osmosis is a decentralized exchange (DEX) and automated market maker (AMM) protocol for the Cosmos ecosystem.
Osmosis is a DEX protocol, which means it uses smart contracts to determine the price of digital assets, to produce liquidity via a peer-to-peer (P2P) methodology, and to exact trades between users. This approach to an exchange platform is known as an AMM — a DEX protocol that prices crypto assets in liquidity pools.
OSMO is the native token of the Osmosis network. Primarily, OSMO is used for staking to secure the Osmosis chain. As a PoS token, OSMO is inflationary. Over time, new tokens will be minted and entered into circulation. The maximum number of OSMO tokens has been set at 1 billion. As of May 2022, there are 282 million OSMO in circulation.
Methodology
In this dashboard we are going to check how did users mostly used AXL Via Osmosis and Axelar chains.
These tables have been used to gather all the data we needed ( osmosis.core.dim_prices osmosis.core.fact_swaps
Actionsaxelar.core.fact_transfers ).
These Questions will be answered:
- how have wallets that bought $AXL used it?
- Are most wallets hodling or trading?
- What is the average holding period for wallets buying $AXL in the last month?
- The method of AXL usage via Osmosis and its balances.
For more stay with us on the way down … !
Overall total transactions that has been occurred are 21.1k.
Which buyers goes for just 5040 and the holders are limited to the number of 3850 which is a very good stats out of 5040.
Total purchased amount of $AXL via Osmosis is 6.92 Million Dollors.
At the first chart you can see top 10 $AXL holders by their volume in $AXL which just two of holders have hold the total amount of 4.4 AXL and their wallet balance are so similar to each other and that is an interesting fact about it.
Because of lower price of $AXL most of the users would like to transact their asset volume at the amount of more than 10000 $AXL.
Top 10 Tokens that $AXL has been sold for are determined which in that list ATOM and USDC stands at the top by their count of transactions
I guess the main question is that how did users use $AXL over time, Well these charts explains everything.
Mostly users liked to bridge their assets into other places and then the second majority majority goes for trading.
But let’s see do users like to hold their $AXL more than trading.
Well the charts show that users like to hold their asset more than trading it by the percentage of 94.7% to 5.3% which is a good stat for $AXL.
Two charts at the right gives us some information about transfers type on Axelar native network.
Now we can have some details about the behavior of holders about their holding times.
Over all time from the day that the Token of Axelar has been announced, The average holding time of $AXL is 12 days but just for the last month this number goes to something about 4 days.
The distribution charts show everything you need to know about the holding time periods.
Conclusion
The full content of the dashboard tells us all these information :
- Users via Osmosis DEX mostly bridged their $AXL to other places.
- Average holding time of $AXL for all time is 12 days which this number goes for about 4 days in the last month.
- Mostly users like to hold their asset instead of trading it.
- The most amount of $AXL have been purchased via its own network than Osmosis DEX.
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Hope you have enjoyed our dashboard
Twitter : twitter.com/mhmdnte
On Osmosis chain users like to bridge their asset out of Osmosis and in the second place they like to swap their asset just in Osmosis chain.
The normalized chart shows our last sentence over time by the count of the transactions and as you see by the time users are increasing their interest to bridge out of Osmosis.
The main asset balance of $AXL has joined into Osmosis chain from September 27th and after this day there have been lots of uprising slopes.
![db_img](https://uploads.flipsidecrypto.com/product/images/SWT5vnq8dTgj.webp)