$AXL Token Recap

Introduction

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.

The recently released AXL token is the key to the proof-of-stake consensus that secures the Axelar network. More than this, AXL enables functionality that other cross-chain networks can’t duplicate - like instant, any-to-any routing and one-time deposit addresses that match onramps centralized exchanges use. These features are possible because Axelar is a blockchain connecting blockchains. AXL is also a chain-agnostic token. Built on Cosmos SDK, it is compatible with any IBC chain, and it can be easily wrapped as an ERC-20 compatible token (wAXL) for trading and other uses.

Methodology

In This Dashboard, You will read about the Axelar token and on this dashboard I checked the information of all the tables that this token is in, which are:

osmosis.core.fact_liquidity_provider_actions
osmosis.core.dim_labels
osmosis.core.fact_daily_balances
osmosis.core.fact_swaps
\

Axelar recently launched its native token, AXL. I went through the AXL token and analysed these parameters:

Number and Volume of users on AXL pools
Number of LP providers on AXL pools
Number, Volume and Average Volume of AXL holders
Histogram of holding time periods
Number, Volume and Average Volume of Swaps and Transfers

Number of users of pools: Shows number of users who has engaged their AXL on pools of Osmosis block chain and as we see number of users who has joined these pools is 81.2% of all people who are interacted with pools which is 4.3 times of people who has exited pools.
Amount of users of pools: Shows amount of AXL of users who has engaged on pools of Osmosis block chain and as we see amount of AXL which is joined these pools is 77.2% of all AXL volume which is interacted with pools which is 3.38 times of AXL volume which has exited pools.
Number of LP providers of pools: Shows number of LP providers who has engaged their AXL on pools of Osmosis block chain and as we see number of LP providers who has joined these pools is 62.3% of all LP providers who are interacted with pools which is 1.65 times of LP providers who has exited pools.

Daily number of users of pools: Shows daily number of users who has engaged their AXL on pools of Osmosis block chain and as we see number of users who has joined these pools maxed out on Sep 28 with 234 users and decreased since but it has been dominant over people who has exited pools which maxed out on Oct 11 with 51 users and had fluctuated trend.
Daily amount of users of pools: Shows daily amount of AXL of users who has engaged on pools of Osmosis block chain and as we see amount of AXL which is joined these pools maxed out on Sep 27 with 2.17M AXL and decreased since but it has been dominant over volume that has exited pools which also maxed out on Sep 27 with 435K AXL and had fluctuated trend.
Daily number of LP providers of pools: Shows daily number of LP providers who has engaged their AXL on pools of Osmosis block chain and as we see number of LP providers who has joined these pools maxed out on Sep 28 with 163 LP providers and decreased since but it has been dominant over LP providers who has exited pools which maxed out on Oct 11 with 50 LP providers and had fluctuated trend.

Number of $AXL holders: shows total number of wallets that hold any amount of AXL token on their wallets on Osmosis blockchain which are 2,450 wallets.
Volume of held $AXL tokens: shows total AXL volume of wallets that users hold their wallets on Osmosis blockchain which is 3.94M AXL.
Average volume of held $AXL token by each holder: shows average AXL volume held by each holder on Osmosis blockchain which is 1,606 AXL for each holder.

POOLS

AXL HOLDERS

Donut chart above shows AXL distribution of various groups of AXL holders which are 6 groups and holders with less than 1 AXL has majority of holders with 40.3% of holders which are 988 holders and it is almost twice of next group which they hold between 2 and 10 AXL tokens with 21.% of holders.

Holders with more than 10K AXL has least portion of holders with only 1.31% of them or 32 holders.

AXL SWAP

Charts above shows number of swappers that has swapped AXL token into other tokens and total number of them is 2,790 swappers and as we see these swappers has been decreasing in last month which maxed out on Sep 28 with 261 swappers then decreased.

Charts above are showing volume of swaps that has swapped AXL token into other tokens and total volume of them is 9.42M AXL and as we see these volume of swaps has been decreasing in last month which maxed out on Sep 28 with 950K AXL then decreased.

Charts above are showing average volume of swaps that has swapped AXL token into other tokens and average volume of them is 925 AXL for each swap, and as we see these average volume of swaps which maxed out on Sep 27 with 3,085 AXL, has been decreasing in last month until Oct 20 then we see increasing trend for the average volume of swaps.

Number of Swaps of AXL token

Volume of Swaps of AXL token

Average Volume of Swaps of AXL token for each Swapper

Average hold days in general: shows average holding days of each holder of AXL token for all time which is 21.25 days for each holder
Average hold days in the last month: shows average holding days of each holder of AXL token for last month which is 9.91 days for each holder

Charts above shows number of swappers that has swapped other tokens into AXL and total number of them is 5,020 swappers and as we see these swappers has been decreasing in last month which maxed out on Sep 28 with 802 swappers then decreased.

Charts above are showing volume of swaps that has swapped other tokens into AXL and total volume of them is 9.16M AXL and as we see these volume of swaps has been decreasing in last month which maxed out on Sep 27 with 912 AXL then decreased and had fluctuated trend.

Charts above are showing average volume of swaps that has swapped other tokens into AXL and average volume of them is 437 AXL for each swap, and as we see these average volume of swaps has increasing trend and maxed out on Nov 25 with 1,777 AXL.

AXL TRANSFER

$AXL transfer: number of senders: shows total number of AXL senders on Osmosis blockchain which is 5,420 senders.
$AXL transfer: number of senders per day: shows daily number of AXL senders on Osmosis blockchain which as we see had almost one sender since May 2022 but spiked and maxed out on Sep 28 with 523 senders and decreased since.

$AXL transfer: number of receivers: shows total number of AXL receivers on Osmosis blockchain which is 5,990 receivers.
$AXL transfer: number of receivers per day: shows daily number of AXL receivers on Osmosis blockchain which as we see had almost one receiver since May 2022 but spiked and maxed out on Sep 28 with 560 receivers and decreased since.

$AXL transfer: volume of transfers: shows total volume of AXL transfers on Osmosis blockchain which is 15M AXL.
$AXL transfer: volume of transfers per day: shows daily volume of AXL transfers on Osmosis blockchain which as we see mostly 0.001 AXL transferred since May 2022 but spiked on Sep 28 with 1.032M AXL and maxed out on Nov 4 with 1.41M AXL.

$AXL transfer: average volume of transfers: shows average volume of total AXL transfers on Osmosis blockchain which is 938 AXL for each transfer.
$AXL transfer: average volume of transfers per day: shows daily average volume of AXL transfers on Osmosis blockchain which as we see mostly 0.001 AXL transferred since May 2022 but spiked on Sep 28 with 1,479 AXL and maxed out on Nov 4 with 5,338 AXL for each transfer.

Key Findings

Number of users and LP provider also volume of users prefer to join pools but their values has been decreasing unlike those who prefer exiting pools.
Average holding days in last month is half of the average holding days of all time which shows users are less interested to keep their AXL in last month compared to all time.
Swappers which are swapping other tokens into AXL is almost twice of swappers that are swapping AXL into other tokens but their volume is almost same.
Number of AXL receivers is more than number of AXL senders on Osmosis block chain which shows users kept $AXL on exchange(in their Osmosis wallet).