• What is Axelar?

  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. Link

• What is Satellite?

  Satellite is a web application built on top of the Axelar Network. It provides an easy to use interface which enables users to transfer their crypto assets from one chain to another. Link

METHODOLOGY

Source: The data for this dashboard comes from the axelar.core.fact_transfers, osmosis.core.fact_daily_balances, osmosis.core.dim_prices

and osmosis.core.dim_labels tables

Date: Launch of Satellite was 26 of January, 2022. Analysis starts from this date

Refresh Rate: Daily Currency: USD

Conclusions: all conclusions were made on the basis of data for 11/25/22

🔑 Key insights

• Top 1 addresses by number of transactions ki197dcrknyynmvzcp0tx5kwu6c8n8u4yv3t6w8vh. For other participants, the number of transactions is less than 2 times

• If we talk about how often are people using Satellite, we cannot say that these are mostly one-time transfers into IBC, since they account for only 26% of all bridges. About 60% of users made 2-50 transfers

  
  So, what determines how often a user uses the Axelar Bridge?

• Wallet size

  We see outliers on the chart, but the bulk of users are concentrated in the lower left corner. The largest group in terms of the number and amount of bridges - those who made 10-15 transfers and from a wallet size of less than 10 USD. Does this tell us that there is a correlation? Unlikely. Something else affects the frequency of using the Satellite

• Ecosystem

  • Transfer from Satellite to different Ecosystems. On the chart, we can notice that Terra is quite different in amount. It also accounts for more than half (55.3%) of all transactions. The second place belongs to Osmosis (30.9%)
  • Transfer from different Ecosystems to Satellite. Looks more uniform than IN. In terms of the number of bridges, OSMOSIS stands out (17%), but the rest of the assets are not far behind. In total, OSMO accounts for 43.7% of transfers. Can we say that frequency using Satellite based on the ecosystem they are bridging from/to? Yeah. It looks like the truth. We can see difference in the frequency of use of Satellite depending on the ecosystem

Twitter Post Link

SATELITE. Overview

WHAT IS INSIDE THIS DASHBOARD?

First of all, we will look at the main metrics. Such as the number of bridges, the total amount, the distribution by assets, by the number of transactions IN and OUT.

But we will not dwell on this in detail and today we will analyze behavior leveraging Axelar's bridge users. Namely:

• How often are people using Satellite - one-time transfers into IBC or more consistent/steady streams?
• Does this vary based on wallet size?
• Does this vary based on the ecosystem they are bridging from/to?

Satellite is one of the first ecosystem applications powered by the Axelar Network. Satellite is a decentralized cross-chain asset transfer application, which enables users to transfer assets they hold on a source chain to an address on a different destination chain

SATELITE. User Analysis by Wallet Size

🔑 Key insights

• The largest number of transfers per day is observed in the first month and a half after the launch of the Satellite. The highest value is February 3 - 1879. The median price of one transfer is 15 US
• The most popular assets for the first 3 months in terms of the number of transfers are UUSD and LUNA, after - UAXL and UUSDC. If you look at the whole time, then the above-mentioned 4 assets can be distinguished by the number of transfers: UAXL accounts for 30.8% of transactions, UUSDC - 24.1%, UUSD - 22.6%, ULUNA - 13.7%. In total, 97.8% is accounted for by ULUNA
• The main out transactions begin 3 months after the launch. Further, in terms of the number of transactions, OUT begin to slightly exceed IN. If we consider the entire period, then in terms of their number, IBS OUT accounts for 67.5% of all transactions and almost the entire total amount

SATELITE. User Analysis by Ecosystem