INTRODUCTION

Axelar is building a decentralized network and tools that connect users, assets, and dApps across multiple blockchain ecosystems. The network empowers developers to build on the best platform for their needs while leveraging the Axelar stack to unlock cross-chain composability and liquidity. Axelar Network 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 provides a uniform solution to cross-chain communication, allowing dApps to integrate with the full blockchain ecosystem. Developed by the founding team members of Algorand, Axelar’s co-founders are award-winning graduates of MIT, where they received notable recognition as part of their graduate studies.

In this dashboard, we will look into the activity of AXL token

• Volumes
• Swaps
• Number of users (Transactions, swaps, providing liquidity)

> Data extracted as of September 27th

STATS OF $AXL TOKEN

> Swaps, Liq providers, holders…

QUESTIONS

1. Since the $AXL token launch, how have wallets that bought $AXL used it?
2. Are most wallets hodling or trading?
3. What is the average holding period for wallets buying $AXL in the last month?
4. have users kept $AXL on exchange (in their Osmosis wallet) or have they bridge to other places?
5. How has that changed over time?

METHODS

• Osmosis.core.fact_daily_balances
• Axelar.core.fact_transfers
• Osmosis.core.fact_transfers
• Analyze the activity within the AXL

To review the methods used, view the graphs inserted and see the SQL requests used.

==We show the general data about the $AXL token.==

4590 users have acquired the token through swap.

Of which 2290 users still keep the token once purchased without selling it.

1629 users have sold the token after buying it (later we will see the average time they kept the token in days).

674 users have deposited the purchased $AXL token in different liquidity pools.

Therefore we have ~50% of $AXL holders.

CONCLUSION

1. The majority of users and transactions of the $AXL token take place on the Axelar blockchain.

2. The most purchased token via $AXL is ATOM, USC and OSMO.

3. Users who buy via swaps the $AXL token do not keep it for a long time in portfolio by performing holding. The average period is one week until they sell it.

4. There is a high % of users who deposit it in Osmosis liquidity pools.

5. The vast majority of transactions are done by IBC_OUT (~65%).

6. The largest volume of transaction type is AXELAR.

7. There are two wallets with a large volume of $AXL in portfolio:

   1. osmo1z6mf937x9ug4ck7lt45f2wyrt9lnway68lpta9
   2. osmo189n8jcs42t56rzs7cur9wtz9pfz3sxacc06gkh

8. The latter Osmo18...gkh -> has large volumes of other tokens.

Sources

> Flipsisdecrypto > > Twitter > > Osmosis > >
>
> \

DEFINITIONS

Bridge  connects two blockchains and allows users to send tokens from one chain to the other.

This allows you to use your Ethereum network funds in Optimism. It also connects different networks such as Cosmos with Binance Chain, Polygon with Arbitrum, etc.

DEXs are decentralized exchanges where users can buy and sell their tokens through liquidity pools without an intermediary like CEXs (centralized exchanges).

Some of these DEXs where OP can be exchanged are Uniswap, Velodrome, Sushiswap.

For this article I have focused on those with lower volume (Sushiswap)

Swaps are exchanges of an X token for a Y token.

An example of swap would be the purchase or sale of the OP token, obtaining in exchange USDC

There is a big difference in the volume held by users of $AXL when comparing OSMO's portfolio with AXELAR's portfolio.

We see that the volume that has been transferred in Osmo during these months is 167M, while in its native chain AXL has had a volume of >500M.

Once users have bought $AXL, ==how long does it remain in their wallets before being sold again?==

In the graphs we have the average holding times. The results are balanced: Most users sell their assets before a week (~55%).

There is a high percentage (~18%) who only hold the assets for 1-2 days, so they are short-term traders who do not show much interest in the token but in its price.

Also 20% of users hold the token for more than 2 weeks, so we can consider that they are interested in its fundamentals and not so much in short-term profit.

It should be noted that these users have made a sale of $AXL, which could be the total purchase volume or a part of their assets.

I have selected those users who have sold > 15% of the assets they bought in the last month. Those who have made very small sales of $AXL (< 15%), I have not selected them.

VOLUME TXS $AXL ON AXELAR CHAIN VS OSMOSIS CHAIN

==NUMBER OF TXS==

The vast majority of transactions performed with $AXL in axelar are IBC_out with 65%.

A big difference with IBC_in which shows only 11% if we take into account the number of transactions.

==NUMBER OF USERS:==

Valuing the number of users who perform one or another action we see that in this case AXELAR is the most used type of transaction.

In this case the number of users sending and receiving in IBC_in and IBC_out are lower.

==VOLUME==

If we count the volume of $AXL that is transferred the difference is much bigger, we have a large volume in AXELAR and very low in the other two.

TYPE OF TRANSACTIONS WITH $AXL

IBC_in, IBC_out, AXELAR

TOKEN MOST SWAPPED SELLING $AXL | CHAINS DIRECTION WITH $AXL

After the purchase of $AXL, those users who decide to sell it (swappear), ==which token do they acquire?== We see that the choice is split between Cosmos ($ATOM) $USDC and $OSMO.

These are the most used tokens within the Cosmos ecosystem, being ATOM the native token, USDC the most currently used stablecoin and OSMO the native token of Osmosis DEX (most used swapping platform).

When the user acquires the token and does not keep it in his wallet (Axelar), where does he bridge it to?

We see that OSMO is the chain most chosen by Cosmos users.

I myself have used the chain and its DEX and it is very useful, offering many opportunities such as staking, liq provider and good swaps.

TIME HOLDING $AXL

how many days an average user maintain their tokens?

The graph shows the total cumulative transaction volume of each chain, comparing the native Axelar with its AXL token and Osmosis with its AXL token.

We see very large volume peaks in Axelar increasing x5 the difference with Osmosis.

TOP WALLETS HOLDING $AXL

The 10 wallets with the most $AXL are shown in the graph on the left.

We see two wallets that have a large amount of tokens stored.

• Osmo18...gkh
• Osmo1...pta9

We analyze other tokens that these wallets have stored in the following table.

The wallet ending in ‘…pta9’ also has a large amount of Osmosis but no more tokens.

The wallet ending in ‘…gkh’ has more tokens such as EVMOS, SOMM, JUNO, BTSG, RAW.

Also the volumes are huge.

This makes us think that they are not two "common" users, but important wallets possibly belonging to some protocol.