Try Quests to earn cryptoAcross Protocol Airdrop
Introductions
What is airdrop?
A crypto airdrop is a marketing method employed by startups in the cryptocurrency space. It involves delivering tokens to the wallets of current cryptocurrency traders, either for free or in exchange for a small promotional service.
What is Across protocol?
Across Protocol is an upcoming cryptocurrency and its price is currently unavailable. Market data will be available soon and 96 users have added this coin onto their watchlist. 2/ "Bridge liquidity" refers to deposits into across.to/pool and its native token is ACX, ERC20. more info
What is bridging?
bridge or bridge between chains is a service (centralized or decentralized) that allows you to create a connection between two blockchains that normally cannot communicate with each other, so that tokens can be transferred between them.
Methodology
The needed data was mainly extracted via using mainlyethereum.core.ez_token_transfers for visualized bridge volumes across protocols and as for ACX drop the the contract ID '0x44108f0223a3c3028f5fe7aec7f9bb2e66bef82f' was used, the mentioned table was provided by Flipsidecrypto database and to make these raw extracted data more comprehensible all types of proper charts and graphs were used.
Second half of 2022 was picked as the starting time frame.
What is covered in this analysis
An analysis of the Across protocol bridge volumes, airdrop distribution and TVL and comparing this to other bridges such as Synapse and Hop protocol.
- Seems like around 2.1M ACX, 2/3 of the airdrop claimed volume happened on the first hour of it being available this volume quickly dropped after to claimed volumes less than 50K on the days after.
- Around half of these claimed volume(481 received transactions) was less than 500 ACX followed by 149, 15.7% of drop transactions being more than 5K and 12.6%, 120 TXs received between 2K-5K ACX and 500-1K ACX had the least size range which users received their claimed airdrop(less than 10%).
- On Aug2 Across recorded its most total value of locked assets in a day with 14.5M USD after that value of locked assets decreased but was stabilized till Nov5 which FTX and a new bear market dumped the TVL under 5M USD it changed after the week of ACX air drip which it jumped to a total of 8.8M TVL.
- Late Jun-early Aug had the most TVL on Synapse with an ATH being recorded on Jul28 with 113M USD after that value of locked assets on Synapse started to decrease.
- Jun2 recorded the most TVL on Hop with reaching more than 62M USD after that assets value could not even reach half of the mentioned ATH and kept its downward trend until last week of Oct which a huge jump in TVL 33M to 50M in less than a week was recorded a jump in TVL in recent two weeks on Hop is visible as well.
- Overall Synapse seems to be having more total TVL compared to Hop and Across with Across having the least valuable assets. Hop overall have a more volatile recorded TVL and FTX and a market crash on second week of Nov is visible on both Hop and Across protocol.
Conclusion
- Across with 229M USD bridged have the least volume bridged compared to other two(Synapse 653M and Hop 351M USD) and it seems that it have a less steep growth compared to mentioned protocols but drops happening on the last week of Nov recorded some increase to bridged volume on Across with two consecutive spike to bridged volume on Nov23-24(4.71M and 4.69M).
- Most of the ACX dropped volume was claimed in early hours of the drops and half of the received volume was less than 500ACX and around 16% was more than 5K so ACX airdrop can be considered a relatively generous and lucrative airdrop and seems that only 3% of the available volume was claimed which could’ve been a lot more and cover a wider range of users with some more and better announcement or news coverage.
- FTX and the market crash following it on Nov8-10 showed its effect on the daily recorded TVL on both Across and Hop protocol but Synapse larger TVL was not affected as other two platforms and Across seems to have the least overall TVL.
Thank you for your time
- First day and second day of Jun with 25M and 16M USD, recorded the most bridged volume on Across volume of bridges dropped significantly after till third week of Jul which it showed some signs of recovery. Last week of Nov recorded some sensible spikes in bridged volume ACX airdrops could be effecting this jump in bridged volume on Across.
- Synapse recorded its highest bridged volume on Jun11 with 23M USD bridged, after Jun in total the bridged daily volume on Synapse decreased. On Sep14 and Oct27 Hop protocol recorded its largest bridged volume with 10.7M and 10.3M USD respectively and after Jun its daily bridged volume relatively decreased.
- Overall Synapse and Hop had sharper growth to their accumulated bridged volume since Jun 2022 and Synapse with a total of 653M USD bridged consists of more than half of the bridge volume on the other two protocols(Hop 351M and Across 229M).
Numeric values regarding ACX drops