Introduction

What is Wormhole?

Wormhole is a communication bridge between Solana and other top decentralized finance (DeFi) networks. Existing projects, platforms, and communities are able to move tokenized assets seamlessly across blockchains and benefit from Solana's high speed and low cost.

Questions

• How are tokens being bridged from chain to chain and which actions seem to be popular among users of Wormhole?
• What actions seem to influence bridging behavior?
• What are users doing before and after bridging?
• Do users seem to think that bridging is safe or more risky relative to transfers to centralized exchanges?

Ethereum to Solana

Solana to Ethereum

Ethereum to Solana Vs. Solana to Ethereum by share transactions and unique users

Total daily transactions and unique users

Cumulative transactions and unique users

Solana to Ethereum

Ethereum to Solana

Top 10 activities after bridging from Solana to Ethereum

Top 10 activities after bridging from Ethereum to Solana

Method

I used the ethereum.core.fact_transactions table, I filtered the bridge Solana to Ethereum and Ethereum to Sol with the following method from the ethereum.core.fact_transactions table

• Ethereum to Solana => to_address = lower('0x3ee18b2214aff97000d974cf647e7c347e8fa585') and chain = '1' and origin_function_signature in ( '0x0f5287b0','0x9981509f')
• Solana to Ethereum =>to_address = lower('0x3ee18b2214aff97000d974cf647e7c347e8fa585') and chain = '1' and origin_function_signature = '0xc6878519'
• The analysis is from 2022-1-1.

Conclusion

• Ethereum → Solana
  • Total transactions: 12.58k transactions.
  • Total volume: 604M dollars.
  • Total unique users: 5890 users.
  • The highest number of transactions belongs to USDC with 5401 transactions.
  • The highest volume belongs to USDC with 360.2M dollars.
  • The most activity of users after bridge, Transfer with 34.4% and 4040 transactions.
• Solana → Ethereum
  • Total transactions: 3510 transactions.
  • Total volume: 46.2M dollars.
  • Total unique users: 2155 users.
  • The highest number of transactions belongs to USDC with 226 transactions.
  • The highest volume belongs to USDC with 26.5M dollars.
  • The most activity of users after bridge, Transfer with 33.6% and 1595 transactions.