Introduction

From the past September 26th to September 28th 2022, the Cosmoverse took place. Cosmoverse is a Cosmos ecosystem event where all of the chains involved in the system can expose their goals and talk about anything new/interesting.

Cosmoverse was full of amazing announcements and alpha leak. Axelar was one of the Platinum partners with a representation on the event. Osmosis is another important partnership because of its own blockchain works there.

Axelar tokens are available on Osmosis chain, specifically axlWBTC and axlWETH. Due to the recent Ethereum merge and considering the Cosmoverse events, we are gonna analize the axlWETH performance on Osmosis since the Cosmoverse.

Methodology

Due to the recent Ethereum merge and considering the Cosmoverse events, the intentio of this dashboard is to analize the axlWETH performance on Osmosis since the Cosmoverse.

To do so, we will explore the LP activity as well as the swapping activity. For the first one, the metrics analyzed are:

• Volume from and to axlWETH/OSMO pool and 7-day MA
• Actions from and to the pool
• Users entering or exiting the pool
• Other global metrics

For the second one, we will analyze:

• Swappers netflow
• Swaps actions
• Volume netflow and TVL movement
• Other global metrics

LP activity

Looking at the volume deposited and exited from the axlWETH/OSMO pool, we can see how during the first days the volume was higher, but it decreased over time. In the major of the cases, the amount joined has been higher than the amount exited. In cumulative numbers, a total of more than 120 axlWETH where deposited while less than 40 where removed, with a net TVL of almost 83 axlWETH.

Looking at the 7-day MA, we can see how the volume deposited experimented a downtrend during the first days but stopped at the end of the month. Afterthat, it remained steady. For the exited volume, we can see how it increased since the beginning until the last days. Now, it seems that the curve are turining their trend.

If we consider the actions and users that join or exit the pool, we can see how in all of these days, more of both joined the pool while lower exited it. However, since the start of the month, the metrics started to decay.

In average, depositors did more than 2 transactions with an average of 0.43 axlWETH deposited, while removers did around 1 transaction and removed 0.35 axlWETH.

Looking at the distribution of actions, we can see how more deposits involved less than 1ETH than exits.

Swapping activity

In terms of volume swapped, we can see how during the Cosmoverse days the activity was higher than the rest of the days. An important day was the Setpember 28th where around more 100 axlWETH were acquired than swapped. The October 7th was on the other way around. The TVL movement in this case has been positive since the event with around 200 axlWETH more.

In this case, the swaps to had an average of 8.5 swaps per user and around 3.77 axlWETH acquired, while the swaps from had an average of 9 swaps per user and 4.88 axlWETH swapped. The average transaction fee has been higher for withdrawals.

Taking a look at the swappers netflow, we can see how from the beginning until the end, more users swap to axlWETH than from it, creating a positve netflow over time. However, we can see how the activity decayed over time. Since the event, a total of 1318 swappers acquired axlWETH while 611 swapped it.

If we take a look at the swaps, we can see how again the major of the days have a positive netflow. Again, since the start of the month, we can see how the activity has decreased.

In this case, the deposits have more actions below 1ETH than the withdrawals.

Overview

Key findings

In this dashboard we have analyzed one of the top Axelar metrics: axlWETH during and after the Cosmoverse event. The key findings have been the following:

• During the first days the volume of LPs was higher, but it decreased over time.
• The volume deposited experimented a downtrend during the first days but stopped at the end of the month. Afterthat, it remained steady. For the exited volume, we can see how it increased since the beginning until the last days. Now, it seems that the curve are turining their trend.
• In all of these days, more users joined the pool while lower exited it. However, since the start of the month, the metrics started to decay.
• In average, depositors did more than 2 transactions with an average of 0.43 axlWETH deposited, while removers did around 1 transaction and removed 0.35 axlWETH.
• From the beginning until the end, more users swap to axlWETH than from it, creating a positve netflow over time. However, we can see how the activity decayed over time.
• During the Cosmoverse days the volume swapped activity was higher than the rest of the days.
• The swaps to had an average of 8.5 swaps per user and around 3.77 axlWETH acquired, while the swaps from had an average of 9 swaps per user and 4.88 axlWETH swapped.
• The average transaction fee has been higher for swaps from axlWETH to other tokens than from other tokens to axlWETH.