Axelar Fee Generation
INTRODUCTION
BRIDGE
The problem of not being able to interact between different systems in the network is one of the challenges of blockchain technology. When a developer creates their own decentralized applications on a particular platform, these applications are generally locked to that platform and do not have the opportunity to take advantage of other blockchains. This is why, for example, Ethereum faced many problems related to scalability, and many developers hoped to solve them. Therefore, the blockchain bridge is one of the solutions to solve this problem.
Blockchain Bridge creates a connection through which tokens or data can be transferred between two different Blockchain ecosystems.
AXELAR
Through the Axelar decentralized network and tools, dApp builders can connect with multiple blockchain ecosystems, applications, and users for frictionless cross-chain communication. To break down barriers to cross-chain communication, Axelar provides a protocol suite, tools, and APIs. The network is powered by a decentralized, open network of validators. Anyone can join, use, and build upon the network.
Cross-chain communication is as simple as HTTP/HTTPS on the web with the Axelar network. Developers can plug in their blockchains to other ecosystems and application builders can connect to global liquidity using the Axelar protocol and API. Cryptography, distributed systems, and consensus are core competencies of the Axelar team.
SATELITE
Satellite is one of the first ecosystem applications powered by the Axelar Network. Satellite is a decentralized cross-chain asset transfer application, which enables users to transfer assets they hold on a source chain to an address on a different destination chain
==METHODOLOGY==
in this dashboard the following methods are used:
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Overview
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Fee by source chain
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Fee by destanation chain
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Fee by assets
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Conclusion
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CONCLUSION
==As is clear; The amount of the fee depends on the source chain, destination chain, and selected asset; As a result, the results indicate that:==
- Most of the costs related to the chain of origin belong to Osmosis.
- Most of the costs related to the destination chain belong to Axelar
- Most of the expenses related to the property belong to AXL.
- The lowest average amount of asset transfer fee as the origin chain is related to Axelar.
- The lowest average amount of the asset transfer fee is Osmosis.
- USDC has the lowest average fee.
We examine the share of the number of bridges based on the destination and the number of bridge builders based on the destination:
- It seems that the destination of 25.7% of the bridges created by 22.1% of people.
- At the second place is Ethereum, which is the destination of 21.3% of bridges, which is also by 20.5% of people.
- Kujira and Polygon are in the third and fourth places.
We also check the number of bridges and the number of bridge builders based on the destination:
- In general, the number of bridges and bridge builders was on the rise until about September, and after that it started a downward trend.
- The largest number of bridges and bridge creators belonged to Osmius and Ethereum networks.
- The number of bridges and bridge builders on the polygon network has also been significant.
- As shown in the monthly and daily variations of bridge transaction fees (in AXL and USD), Sep 2022 generates the highest amount of transaction fees.
- By far, Osmosis, Ethereum, Kujira, Polygon, and Avalanche are leading the way in terms of the amount of bridge transaction fees (in AXL and USD).
Regarding the daily changes in the number of transfer transactions and users according to the source of blockchains, we can say:
- The maximum number of transactions and users will be recorded on November 9 and October 28, 2022.
- Axelar, Osmo, Cre, and Evmos are superior to others in terms of daily variation and the total number of transactions and users, respectively.
Regarding the daily changes in the number of transfer transactions and users based on destination blockchains, from October 2022, it can be said that:
- Users and transactions reached their highest levels on November 9 and October 28, 2022.
- Axelar, Osmo, Cre, and Evmos have by far the upper hand when it comes to the distribution of transactions and users by destination.
- The daily changes of the transfer volume (total, average, and median) according to the destination blockchains from October 2022 show a relatively fluctuating trend.
- In terms of transfer fees, this trend is relatively upward.
- There are far superior destinations in this regard for Axelar, Osmo, Evmos, and Inj.
The daily changes in the transfer volume according to the source (origin) of the blockchain since October 2022 indicate that:
- The maximum volume was recorded in 2022. In general, the trend of daily changes in transfer volume (total, average, and median) and fees is relatively constant with one or two jumps.
- In addition, Axelar, Osmo, Cre, and Evmos have the upper hand in this field.
- There has been a relatively fluctuating trend in the number of transfer transactions and users since Oct 2022.
- AXL, WETH, WBTC, and USDT seem to be the most popular tokens in this regard.
- According to September 2022 data, transfer volume (total, average, and median) and fees based on different assets show a fairly fluctuating trend.
- WETH, INJ, AXL, USDT, and WBTC are the best-performing assets in terms of transfer volume distribution.
- Considering the distribution of transfer costs based on different assets, AXL, WETH, WBTC, and USDT have the upper hand among different tokens.