What is the Question?🚨

Osmosis is far and away the liquidity hub of the Cosmos. Axelar is acting as the primary liquidity bridge into ecosystem. Analyze activity on Osmosis once a user bridges via Axlear's Satellite. What asset do they most use to bridge? Once bridged what do they do next?

Analyzed Topics:

1. Monthly Bridge Activity FROM Osmosis
2. Monthly Bridge Activity TO Osmosis
3. What type of Actions users do After Their Bridge?
4. Bridgers Stats

Introduction🚩

Axelar is like Stripe for Web3. 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.

Satellite Bridge:

Satellite is a web app built on top of the Axelar network. Use it to transfer assets from one chain to another.

Method⚡

In this dashboard, We are going to analyze Axelar Satellite Bridge Activity To (and also from) Osmosis network. I analyze this case on a monthly basis, then i take a look at the actions that users take after their bridge and at the end i analyzed the bridgers that bridged to Osmosis and examined what they do. The main purpose is to analyze Axelar’s Satellite bridge activity from different angles.

I mianly used ==“axelar.core.fact_transfers”== table from ==Axelar.core== database provided by Flipsidecrypto and used some additional tables from ==Osmosis.core== database too. In addition, i only considered successful transactions with TX_SUCCEEDED = 'TRUE'

All the charts and analytics that you are going to see are over time and i didnt used any specific timeframe.

This dashboard made on ==2022-11-11==

Findings👀

• In this section, i showed the total and monthly bridge activity FROM AXELAR TO Osmosis divided by Assets.
• Over 1600 bridgers recorded a total number of 12.27K bridge transactions since March 2022 with a total volume of 8.79M in USD.
• AXL is the most popular in all terms that bridged to Osmosis network.
• AXL accounts over 75% of all the shares and followed by USDC and WETH in the second and third place respectively.
• It has passed only 11 days from November and by far this month recorded more bridges and bridgers than its previous months except Ocotber.
• October recorded the highest bridge activity to Osmosis among all the months since March.
• Users started to bridge more USDC in past 2 months but AXL is in the lead.
• Over 1900 bridgers recorded over 9.5K bridges with AXL token from Axelar to Osmosis.

2. Monthly Bridge Activity TO Osmosis

1. Monthly Bridge Activity FROM Osmosis

Findings👀

• In this section, i showed the total and monthly bridge activity FROM Osmosis TO AXELAR divided by Assets.
• Over 40K bridgers recorded 50K number of bridges with a volume of 219M in USD over time.
• USDC is the most bridged token in terms of all the analyzed metrics such as: number of bridges, bridgers and USD bridge volume.
• 31,946 of bridgers (77%) bridged USDC as their main asset and AXL and WETH will stand in the second and third place with 4809 and 2537 bridgers respectively.
• If we ignore November, past 3 months were hot months for bridge activity FROM Osmosis.
• August had the highest number of bridgers and October had the highest number of bridges and bridge volume in USD.
• In terms of number of bridges and bridgers, AXL is in the second place after USDC but in terms of Bridge volume, things are different and AXL stands in the fourth place after USDC,WETH and WBTC.
• AXL recorded some huge stats in terms of number of bridges and bridgers in October.

3. What type of Actions users do After Their Bridge?

Findings👀

• In this section, i showed monthly and share of actions that bridgers take after their bridge.
• As we see, users mostly swap after their bridge and the rest of them transfer besides other actions.
• It is interesting that although number of bridgers that do swaps and transfers after their bridge are so close, but total number of swaps that will record after bridges is so much more than number of transfers.
• Swapping is accounting 50% of all the actions that bridgers take after their bridge and transfer and staking are in the second and third place respectively.
• 1571 users recorded over 81K swaps after their bridges and 1485 users recorded over 38K number of transfers after their bridge.
• Users recorded their most activity after bridge on October and most of them were swapping and transferring.
• November recorded pretty good stats and it has 19 more days to go, i think it will record more bridge activity than October for sure.

4. Bridgers Stats

Findings👀

• These charts are identifying the bridgers to Osmosis and examine their activity.
• ==“osmo1x3z2vepjd7fhe30epncxjrk0lehq7xdqe8ltsn”== wallet address is the biggest bridger in terms of number of bridges with over 5.6K number of bridges and ==“osmo1tqctx98qz2aa25j5knzuztxaerl3z0ld8q6c72”== wallet address is the biggest bridger in terms of USD bridge Volume with 1.3M bridge volume in USD.
• Over 60% of bridgers to Osmosis only bridged once (Over 1K bridgers)
• AXL is the most bridged asset by bridge size and most of its bridges were more than 10000$ worth of AXL.
• USDC and WETH stands in the second and third place after AXL in terms of bridge size respectively.

Conclusion💡

• Over 40K bridgers recorded 50K number of bridges with a volume of 219M in USD over time.
• USDC is the most bridged token in terms of all the analyzed metrics such as: number of bridges, bridgers and USD bridge volume.
• 31,946 of bridgers (77%) bridged USDC as their main asset and AXL and WETH will stand in the second and third place with 4809 and 2537 bridgers respectively.
• August had the highest number of bridgers and October had the highest number of bridges and bridge volume in USD.
• Over 1600 bridgers recorded a total number of 12.27K bridge transactions since March 2022 with a total volume of 8.79M in USD.
• AXL is the most popular in all terms that bridged to Osmosis network.
• AXL accounts over 75% of all the shares and followed by USDC and WETH in the second and third place respectively.
• It has passed only 11 days from November and by far this month recorded more bridges and bridgers than its previous months except Ocotber.
• October recorded the highest bridge activity to Osmosis among all the months since March.
• Users mostly swap after their bridge and the rest of them transfer besides other actions.
• It is interesting that although number of bridgers that do swaps and transfers after their bridge are so close, but total number of swaps that will record after bridges is so much more than number of transfers.
• Swapping is accounting 50% of all the actions that bridgers take after their bridge and transfer and staking are in the second and third place respectively.
• Users recorded their most activity after bridge on October and most of them were swapping and transferring.
• ==“osmo1x3z2vepjd7fhe30epncxjrk0lehq7xdqe8ltsn”== wallet address is the biggest bridger in terms of number of bridges with over 5.6K number of bridges and ==“osmo1tqctx98qz2aa25j5knzuztxaerl3z0ld8q6c72”== wallet address is the biggest bridger in terms of USD bridge Volume with 1.3M bridge volume in USD.
• Over 60% of bridgers to Osmosis only bridged once (Over 1K bridgers)
• AXL is the most bridged asset by bridge size and most of its bridges were more than 10000$ worth of AXL.
• In general, bridge stats from Osmosis to Axelar were so much bigger than bridge stats from Axelar to Osmosis.

Author: Sbhn_NP

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Thanks for your time!