flipside

    Try Quests to earn AXLTry Quests to earn AXL
    Share

    Chain Swaps

    Since February 23rd, you have been able to swap into 13 different Cosmos Chains via Squid:

    https://twitter.com/squidrouter/status/1628796403076964354?s=20

    What chain has had the most activity?

    In this analysis, the activity of squid bridge into the Cosmos chains has been investigated. The main aim of this investigation is to underestimate the popular destination chains according to the twitt by Squid official account. This dashboard is divided into the following parts:

    • The activity of Squid Bridge since February 23, 2023
    • Determination of source and destination chains
    • Investigation of the popular pathways by Squid bridge
    • The behavior of the Squid users sent assets to Cosmos chains
    Overview of analysis

    The Axelar network serves as the infrastructure for inter-chain exchanges. Axelar acts as both a bridge and a platform for cross-chain communication between smart contract protocols. Axelar bridging makes it possible to send tokens across different blockchains, while Axelar second feature allows decentralized applications to run on different networks.

    Squid is the cross-chain swap and liquidity routing protocol on Axelar Network.

    Squid utilises existing DEXs to swap and send any native token between chains. This can be done via our SDK, Front End or Contracts directly.

    Swaps are composable with Axelar's generalised message passing, so Squid can enable one-click transactions between any application and any user, using any asset.

    Methodology
    About Squid

    The data provided by Flipside has been used to handle this analysis.

    • In this investigation, the transactions of the axelar.core.ez_squid table has been selected. After that, the activity of the Squid Bridge since February 23, 2023, has been determined.

    • The Cosmos chains have been selected as a destination chain and after that, the most popular source chains have been estimated. The popularity of the destination chains has been evaluated.

    • The most popular pathways created by Squid Bridge have been estimated by considering various metrics like volume, count of the bridge, and users.

    • Additionally, the behavior of the Squid users sending assets into the Cosmos chains has been underestimated according to the frequency and volume of usage.