What is Axelar?

Axelar delivers secure cross-chain communication for Web3. Secure means Axelar is built on proof-of-stake, the battle-tested approach used by Avalanche, Cosmos, Eth2, etc. Cross-chain communication means you can build a complete experience for your users that lets them interact with any asset, any application, on any chain with one click.

How Axelar works

Axelar is for Web3 what Stripe is for mobile and internet applications: it works on the back end, connecting various networks into one-click experiences for all users. Read on to see how it works.

Developers: Axelar enables secure, any-to-any communication across blockchains, regardless of consensus mechanism or message payload.

Cross-chain apps built on Axelar are truly permissionless, meaning that their transactions cannot be censored by any oracle, relayer or validator. Axelar is based on the same proof-of-stake security model as many of the chains it connects.

Basic functionality Here is two basic cross-chain functions you can add to a dApp using Axelar.

Token transfers: Send & receive fungible tokens securely from any chain to any chain, including Cosmos-to-EVM and other complex transfers.

General Message Passing: Call any function on any EVM chain from inside a dApp; compose DeFi functions; move NFTs cross-chain; perform cross-chain calls of any kind that sync state securely between dApps on various ecosystems.

When executing token transfers or calling functions on remote chains, you need to specify a destinationChain as a string. See chain names for a list of valid supported values for this string.

The following sections will show you how to set up a local development environment for testing this functionality in your dApp, then deploy it to testnet and mainnet.

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

Quick sync: Start your Axelar node and download the blockchain. Learn from the source how code is written in Axelar.

Overview: An Axelar network validator participates in block creation, multi-party cryptography protocols, and voting. Convert your existing Axelar node into a validator by staking AXL tokens and attaching external EVM-compatible blockchains.

🧠 Methodology

In this dashboard, we will analyze the activity in the AXL/OSMO pool (#812) as well as the trading activity in the Osmosis DEX.

• For DEX trades, we look at all trades where the trade was made to or from AXL tokens.

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• Liquidity Pool For the activity of the AXL/OSMO pool, we find all Liquidity Transactions that add liquidity to the pool at osmosis.core.fact_liquidity_provider_actions.

No specific time frame

Introduction

They will be in this dashboard:

✔ Liquidity Provide Transactions Stats

✔ Amount Liquidity Stats

✔ Average Liquidity Stats

✔ Average Amount Liquidity Stats

✔ Providers

✔ AXL Liquidity (Top 10 LPs)

✔ AXL Swap Stats

OBSERVATIONS

✔ A string of LP deals peaked on ==September 27 2022== with ==97 LP== deals, ==55== for the Osmo and ==42== for the AXL.

✔ A number of LP wallets peaked on ==September 27 2022== with ==76== LPers, ==45== Osmo and ==31== AXL.

✔ The amount of liquidity provided peaked on ==September 27 2022== with ==1.73M== AXL and ==745K== OSMO added as liquidity.

✔ Average amount of liquidity provided peaked on ==September 27 2022== with ==346K== AXL and ==106K== OSMO added as liquidity.

OBSERVATIONS

✔ Looking at the AXL swap volume, the majority of the swap volume has been in AXL with ==40K== swapping against ==56K== from AXL.

✔ Highest, ==165K== for trade to AXL on September 27 2022==.

✔ Most traders switch to AXL, with very few trading only 13 from AXL versus 51.

✔ ==osmo1z6mf937x9ug4ck7lt45f2wyrt9lnway68lpta9 is the best LP== with ==2M AXL== tokens available as Liquidity in only 3 transactions.

✔ osmo1wjjg0mvsfgnskjj7qq28uaxqwq5h38q68enshj is in second place with ==54K AXL== tokens provided as liquidity in 17 transactions.

✔ osmo1h25pc432t23htkemmpw3ucm09nepxtqhsc43dz is in third place with ==35K AXL== tokens provided as liquidity in 1 transaction.

✔ Most of the change took place in AXL, where people were switching from other tokens to AXL.