Description of work

In this dashboard, we want to analyze bridged assets from Axelar to Osmosis and the user’s behavior after bridging assets. This dashboard includes the following sections:

a - Definitions

1 - Analyzing the number of users that transfers assets from Axelar to Osmosis.

2 - Analyzing the number of asset transfers from Axelar to Osmosis.

2 - Analyzing the volume of assets transferred from Axelar to Osmosis.

3 - Analyzing the user’s behavior after bridging assets.

4 - Conclusion

a - Definitions

What is Osmosis?

Osmosis is an advanced automated market maker (AMM) protocol that allows developers to build customized AMMs with sovereign liquidity pools. Built using the Cosmos SDK, Osmosis utilizes Inter-Blockchain Communication (IBC) to enable cross-chain transactions.

Osmosis allows users to launch liquidity pools with unique parameters, like bonding curves and multi-weighted asset pools. The incentive structure of Osmosis is also adaptable. Governance implements liquidity reward (LP) rewards for specific pools, allowing for strategically targeted incentives.

Source: docs.osmosis.zone

Osmosis App

What is Axelar?

Simply put, Axelar network is a blockchain that connects blockchains, enabling universal Web3 interoperability. The network is secured using proof-of-stake consensus, and messages are routed and translated using permissionless protocols. As an analogy, Axelar is like Stripe for Web3.

Axelar is composed of a decentralized network of validators, secure gateway contracts, uniform translation, routing architecture, and a suite of software development kits (SDKs) and application programming interfaces (APIs) to enable composability between blockchains. This allows developers to build on the best platform for their use case, while being able to access users, assets and applications in every other ecosystem. Instead of pairwise cross-chain bridges, they can rely on a network architecture that provides a uniform code base and governance structure. Axelar’s ultimate goal is to build the underlying infrastructure for onboarding the next billion people onto Web3.

Source: axelar.network/blog/an-introduction-to-the-axelar-network

Axelar App

The data relating to the bridge assets from Axelar to Osmosis is available from 2022-03-24 onwards.

2 - Analyzing the number of asset transfers from Axelar to Osmosis.

Methodology

• To find asset transfers from Axelar to Osmosis, we use data from [axelar.core.fact_transfers]

✔️Observations

• The total number of asset transfers from Axelar to Osmosis equals 12.26K.

• AXL has the largest share (77.8% - 9479 asset transfers) in the number of asset transfers from Axelar to Osmosis.

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• There was a dramatic increase in the number of asset transfers from Axelar to Osmosis in October 2022(4484 asset transfers).

• In June 2022, there was a significant decrease in the number of asset transfers from Axelar to Osmosis. (344 asset transfers)

• Recently, there has been a significant increase in the number of Ether and USDC transfers from Axelar to Osmosis.

• The highest number of asset transfers from Axelar to Osmosis was recorded on 2022-11-09(445), 2022-10-28(341), and 2022-11-08(302).

3 - Analyzing the volume of assets($) transferred from Axelar to Osmosis.

• To find asset transfers from Axelar to Osmosis we follow what was mentioned in the previous sections.

• A total of 12 asset types have been transferred from Axelar to Osmosis.

• The list of supported assets on Axelar and Osmosis can be seen on mintscan.io.

• We use data from [osmosis.core.dim_labels] table to find the names of transferred assets.

• Then we use data from [osmosis.core.dim_prices] table to find the prices of different assets.

  • To find the price of dot-planck (Polkadot) and mkr-wei (Maker), we use data from the [ethereum.core.fact_hourly_token_prices ] table.
  • The name and price information for the uusd asset does not exist in the [osmosis.core.dim_prices] table, so we set its price to $1. (only one uusd transfer has been made - view in mintscan)
  • For a better display of the charts, we ignore the days in which the total volume of transfer of assets is less than 100 dollars. (Only on the charts)

Currently, AXL price data is available from September 27, 2022, onwards. So results on Axelar volumes transferred from Axelar to Osmosis are not available before September 27, 2022. This makes the results of AXL volumes transferred from Axelar to Osmosis as well as the total volume of assets transferred from Axelar to Osmosis not accurate.

✔️Observations

• The total volume of asset transfers from Axelar to Osmosis equals 4.97M $.

• AXL and USDC have the largest shares, with 69.1% and 24.9% respectively, in the volume of asset transfers from Axelar to Osmosis.

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• There was a dramatic increase in the volume of asset transfers from Axelar to Osmosis in October 2022(2.85$ M).

• Recently, there has been a significant increase in the volume of Ether and USDC transfers from Axelar to Osmosis.

• The highest volume of asset transfers from Axelar to Osmosis was recorded on 2022-09-28 (500.34K $), 2022-11-09 (329.25K $), and 2022-10-28 (234.95K $).

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• Among the top 10 transactions with the highest volume of asset transfer from Axelar to Osmosis, the first 8 transactions belong to AXL.

• In 51.39% of the transactions, less than 100$ was transferred from Axler to Osmosis.

1 - Analyzing the number of users that transfers assets from Axelar to Osmosis.

Methodology

• To find the number of users that transfers assets from Axelar to Osmosis, we use data from [axelar.core.fact_transfers]

✔️Observations

• The total number of users that transfer assets from Axelar to Osmosis equals 1655.

• There was a dramatic increase in the number of users that transfer assets from Axelar to Osmosis in October 2022(2448 users).

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• The highest number of users that transferred assets from Axelar to Osmosis was recorded on 2022-09-29 (173 users), 2022-11-08 (159 users), and 2022-10-10 (132 users).

4 - Analyzing the user’s behavior after bridging assets.

✔️Observations

• 57.4 % of users who transfers their assets from Axelar to Osmosis, do a swap activity after the transfer.

• 40.5 % of users who transferred their assets from Axelar to Osmosis, do an IBC_TRANSFER_OUT activity after the transfer.

• 1.4 % of users who transferred their assets from Axelar to Osmosis, do an LP activity after the transfer.

Conclusion

In this dashboard, we analyzed bridged assets from Axelar to Osmosis and the user’s behavior after bridging assets, and the following results were obtained:

• The total number of users that transfer assets from Axelar to Osmosis equals 1655.

• The total number of asset transfers from Axelar to Osmosis equals 12.26K.

  • AXL has the largest share (77.8% - 9479 asset transfers) in the number of asset transfers from Axelar to Osmosis.

  \

• The total volume of asset transfers from Axelar to Osmosis equals 4.97M $.

  • AXL and USDC have the largest shares, with 69.1% and 24.9% respectively, in the volume of asset transfers from Axelar to Osmosis.
  • In 51.39% of the transactions, less than 100$ was transferred from Axler to Osmosis.

• Recently, there has been a significant increase in the number and volume of Ether and USDC transfers from Axelar to Osmosis.

• There was a dramatic increase in the volume and number of asset transfers from Axelar to Osmosis in October 2022(2.85$ M).

• 57.4 % of users who transfers their assets from Axelar to Osmosis, do a swap activity after the transfer.

• 40.5 % of users who transferred their assets from Axelar to Osmosis, do an IBC_TRANSFER_OUT activity after the transfer.

• 1.4 % of users who transferred their assets from Axelar to Osmosis, do an LP activity after the transfer.

• There was a dramatic increase in the number of users that transfer assets from Axelar to Osmosis in October 2022(2448 users).