Question:

The ACX airdrop took place this week. Create an analysis of the Across protocol bridge volumes, airdrop distribution and TVL. Compare this to any other bridges, like Synapse or Hop.

Overview of analysis:

This analysis contains these parts:

1. Airdrop stats
2. $ACX application by airdrop claimers
3. The comparison of Across bridge with HOP and Synapse

Because of the first days of airdrop, this dashboard is considered as Live and refresh in daily basis to follow the stats of airdrop in near future.

Methodology:

• The data provided by Flipside has been used to handle this analysis. To handle this investigation the following steps have been passed as below:
• Airdrop stats:
  • Metrics→ Count of claimers, volume of claimed ACX, Cumulative analysis, Share of claimed ACX, volume of claimed ACX per day.
• Popular actions and destinations
  • Metrics→ HODL or Sent, Sectoral analysis, Popular projects that claimers sent their ACX, Actions done by airdrop claimers.
• Comparison of Across protocol with other bridges
  • Metrics→ Count of bridge and users, USD volume of bridge over time, Cumulative analysis, Average bridge volume in USD
  • Total value of locked→ Total TVL and TVL over time

Across Protocol Airdrop:

A total of 1,000,000,000 $ACX will be minted at inception and 125,000,000 $ACX will be distributed through an airdrop to users who have contributed to Across.

This airdrop will include people who:

1- Community Member→ 20,000,000 $ACX

2- Bridge Traveler Program→ 10,000,000 $ACX

3- Early Bridge User→ 15,000,000 $ACX

4- Liquidity Provider→ 70,000,000 $ACX

Part 1: Stats related to $ACX airdrop

What is Across bridge:

Across is an optimistic cross-chain protocol that allows users to make near-instant transactions between chains. This is done using an optimistic oracle and unilateral liquidity pools.

Across Protocol is a bridge that provides fast transactions to transfer tokens from layer 2 to layer 1 (Ethereum).

> Across is the fastest, cheapest and most secure cross-chain bridge for Ethereum, Arbitrum, Optimism, Polygon, Boba and other Layer 1 and Layer 2 networks. > > From official website

The $ACX is the native token of Across protocol and $ACX airdrop took place this week. ACX token holders will control protocol parameters and approve upgrades. They will also be responsible for DAO treasury management and diversification.

Findings:

This part provides the real-time stats of ACX airdrop and the outcomes are as below:

• The pressure of airdrop was high at the first hours of airdrop as can be seen.
• The price of ACX token over time reveals that the price of this token has been decreased over time after launching airdrop.
• The share of claimed airdrop ACX token has been utilized to track the status of airdrop in this real time dashboard.

Part 3: Comparison of Across protocol bridge with other bridges

Findings:

• The HOP has the highest count of bridge and users compared to other bridges and Synapse has dominated the volume of bridge as can be seen.
• The usage of Across protocol has been increased since November 10, 2022.
• The cumulative investigation reveals that the count of Across bridge usage has been passed the Synapse after first days of November, 2022.
• The Across protocol has less TVL compared to other bridges but the daily TVL of Across protocol has been increased when it get close to the airdrop date.

Part 2: What users do with airdropped $ACX

Findings:

• About 60% of airdrop claimers use all of their ACX and 30% of them HODL it.
• The most popular sector is DEX and airdrop claimers swap their claimed ACX with Uniswap program.
• Also some of airdrop claimers sent their claimed ACX token into the CEXs.

Useful links:

• Across protocol
• ACX airdrop
• Medium article about Across

Author:

Credited by MZG

Discord handle: m.zamani#0361

Twitter handle: @GargariZamani

Conclusion:

• The popular ways of obtaining $ACX token is from Airdrop.
• The pressure of $ACX airdrop was high in the first hours and days of airdrop as can be seen.
• People sent their $ACX token into the DEXs and the second sector is CEXs and the most popular destination is Uniswap AMM.
• The HOP protocol is the most popular bridge between selected bridges but the trend of usage of Across protocol has been followed the increasing pattern over time.