Objectives

in this dashboard I want to analyze fee of transfers via Satellite in Axelar chain.

at the first there are some definitions to getting know with subject. after that there is methodology that show you what I want to do, at last, there some figures and observations to analyzing subject.

Methodology

in this dashboard the following methods are used:

1. analyzing over time
2. analyzing overall
3. users categorize
4. top users
5. comparing transfers via satellite before and after FTX hack

in this dashboard the following tables are used:

1. axelar.core.fact_msg_attributes
2. axelar.core.fact_transactions
3. crosschain.core.fact_hourly_prices
4. crosschain.core.dim_asset_metadata

Introductions

• what is Axelar ?

  Axelar provides a decentralized network and tools that help connect dApp builders with multiple blockchain ecosystems, applications, and users for frictionless cross-chain communication. Axelar consists of a protocol suite, tools, and APIs, designed to break down the barriers to cross-chain communication. Powered by a decentralized open network of validators; anyone can join the network, use it, and build on it.The Axelar network makes cross-chain communication as simple as using HTTP/HTTPS protocols on the web. Platform developers can plug-in their blockchains to other ecosystems, and application builders can leverage a simple protocol and API to access global liquidity and communicate with the entire ecosystem. The Axelar team has deep roots in distributed systems, consensus, and cryptography. The venture is backed by Binance X, Coinbase Ventures, DCVC, Lemniscap, Collab+Currency, North Island Ventures, Divergence Ventures, Cygni Labs, and others. Axelar’s new general message passing (GMP) allows smart contracts to communicate with each other across chains. This allows developers to build cross-chain connected applications on Moonbeam that can tap into functionality from Polkadot, Ethereum, Avalanche, Cosmos, and beyond.[source]

• What is the Satellite Bridge?

  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.

  Upon launch, Satellite will support the transfer of native Terra assets such as LUNA and UST between several EVM and non-EVM chains such as Terra, Avalanche, Polygon, Ethereum and Fantom, with Moonbeam added shortly thereafter. Multiple networks and assets will be added in the coming weeks and months.Satellite is the first app to demonstrate that Axelar connects all Cosmos chains via IBC and its GCP protocol with multiple ecosystems. Axelar serves as the translation layer that allows Cosmos assets to flow freely to all Axelar-interconnected networks and back. Axelar supports routing, finalizing and executing transactions in different “languages”.[source]

below picture shows workflow of satellite( from this link)

Part 1 / analyzing over time

Observations 1

• total number of bridges is 0.771M.
• total number of unique users who bridged is 1527.
• total fees(axl) of bridges is 4.46B.
• total fees(usd) of bridges is 4.13B.
• at Oct 28,2022 most number of bridges has done that bridges to osmosis chain have most number of bridges that is 2356 after that bridges to Ethereum has second stage that is 1077.
• at Sep 9,2022 most number of unique users who bridged that unique users who bridged to Ethereum chain have most number of unique users that is 325 after that unique users who bridged to Terra chain has second stage that is 289.
• at Sep 9,2022 most fees(axl) has paid that fees of bridges to Ethereum chain have most fees(axl) that is 15.68M after that fees of bridges to Polygon chain have most fees(axl) that is 10.8M.
• at Sep 9,2022 most fees(usd) has paid that fees of bridges to Ethereum chain have most fees(usd) that is 14.43M after that fees of bridges to Polygon chain have most fees(usd) that is 9.94M.

Part 2 / analyzing overall

Observations 2

• total number of bridges with destination of Terra chain is more than others chain that is 239.89k that is 31.1% of total number of bridges. after that, Avalanche chain has most number of destination of bridges that has 125.2k bridges that is 16.2% of total number of bridges.

• total number of unique users eho bridged to Ethereum chain is more than others that is 1238% of total unique users. after that, osmosis chain with 1166 unique users is popular destination of bridges.

• total fees(axl) of bridged to Terra chain is more than other chain that is 2.29B and is 51.5% of total fees that paid. after that, Polygon chain with 618.3M has most fees(axl) that paid.

• total fees(usd) of bridged to Terra chain is more than other chain that is 2.12B and is 51.5% of total fees that paid. after that, Polygon chain with 573.09M has most fees(usd) that paid.

Part 3 / users categorize

Observations 3

• most number of users bridged between 11-20 times that is 472 and 30.9% of total users. after that, in second stage users with 2-5 time bridges have most number that is 388 and 25.4% of total unique users.

• most number of users paid fees(usd) between 10k-50k USD that is 408 and 26.7% of total users. after that users with paid between 1k-5k USD have most number that is 357 and 23.4% of total users.

Part 4 / top users

Observations 4

• Top three users that have most number of bridges:

  :1st_place_medal:axelar1lyfme0wv80h9w4ut4a990wjxn9wfzs4h93k9pr 211610 times

  :2nd_place_medal:axelar1tll7u3hpgajtd8umyw9z923q44gqddvvkyl09u 29699 times

  :3rd_place_medal:axelar1023l07alv352zvf34gk8gp9pt2xawepcwvwkqg 15799 times

• Top three users that have most paid of fees(usd):

  :1st_place_medal:axelar1lyfme0wv80h9w4ut4a990wjxn9wfzs4h93k9pr 778.5M

  :2nd_place_medal:axelar1023l07alv352zvf34gk8gp9pt2xawepcwvwkqg 253.4M

  :3rd_place_medal:axelar1xhkmxpme0g7kse48wsrcj46cuds4q0deertpru 225.17M

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• Thanks for reading my dashboard, please share your insight about it with me :grinning:
• link of tweet that I share my dashboard :

Part 5 / comparing transfers via satellite before and after FTX hack

Observations 5

• average number of bridges before FTX hack is 2481.6 and after that is 817.14. these results show that after FTX hack, average number of bridges decreased.

• average number of unique users who bridged before FTX hack is 350.8 and after that is 421.4. these results show that after FTX hack average number of unique users who bridged increased.

• Average of total fees(usd) that paid before FTX hack is 13.67M and after that is 623.8k. these results show that after FTX hack, average total fees(usd) that paid decreased.