Introduction

In this analysis, You will read about Axelar and Osmosis users. Osmosis is far and away the liquidity hub of the Cosmos. Axelar is acting as the primary liquidity bridge into the ecosystem. Analyze activity on Osmosis once a user bridge via Axlear's Satellite. What asset do they most use to bridge? Once bridged what do they do?
I went through Satellite bridge and Osmosis and analyzed these parameters:
Top Bridged Tokens to Osmosis from Axelar
Osmosis User Activities after the bridge from Axelar based on activity.
Osmosis User Activities after the bridge from Axelar based on Events.

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Analyzed by Hess - Reading Time Almost 10 min.

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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.

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Activities After Bridge

:key: Key Insights:

:bar_chart: Charts:

There are some key activities in the Osmosis chain. Swap, Transfer, Stake, Liquid Staking, Liquidity, and Governance. I Extracted the receiver address from the Axelar satellite. Then, I looked for their activities after the bridge to Osmosis. Following that, The highest number of users was Swap. After that, The second popular activity was the transfer. It seems when they bridged their tokens, They swapped to other tokens.
Based on transactions, Until October, About 60-70% of transactions were swaps. After October, Staking transactions increased up to 20% and Swaps decreased to 50%. Superfluid staking, Governance, and Liquidity had fewer transactions. Overall, The total share of transactions was 52%.

:key: Key Insights:

:bar_chart: Charts:

Each chain for each transaction has an event that is generated by the chain. TX, Message, and Transfer had the highest number of users. Over Time, Almost all events increased over time. Following that, Token_swapped, Burn, Send_packet and IBC_transfer had the highest number of users.

What is Osmosis?

Osmosis is a DEX protocol, which means it uses smart contracts to determine the price of digital assets, to produce liquidity via a peer-to-peer (P2P) methodology, and to exact trades between users. This approach to an exchange platform is known as an AMM — a DEX protocol that prices crypto assets in liquidity pools.

What is Satellite Bridge?

Satellite is a web-based application that enables users to easily transfer assets across chains through an intuitive web-based UI. This writeup is a step-by-step walkthrough of how you can use Satellite to make such transfers.

At the time of this writing, Axelar supports nearly two dozen blockchains across EVM and Cosmos-based ecosystems, and the list of supported assets and blockchains is expected to grow.

Whether you are going from a Cosmos-based chain to EVM or vice versa, the flow for token transfers through Satellite remains the same:

Based on Users, AXL with 5.3k, and USDC with 4.7K unique users.
Based on Transactions, AXL with a huge difference had the highest number of transactions and is the most popular token.
The average weekly number of transactions per user for AXL is 9 tx.
USDC with 29M US dollars is the most popular token in comparison to other tokens. Also, USDC with an average of 5.7K US dollars is the top token.
The top activity after the bridge from Axelar to Osmosis is Swap. Also, The next top activity is Transfer.
Based on Chain events, Transfer and TX are the top events after the bridge from the Axelar satellite.

Full Analysis

:key: Key Insights:

AXL with 5.3K Unique users and USDC with 4.7K unique wallets are top tokens based on Unique users.
ETH and WBTC are less popular in comparison to USDC and AXL with less than 500 unique users.
Based on transactions, AXL with 77% of transactions is the most popular token.

:bar_chart: Charts:

I found 4 tokens that bridged from Axelar bridge to Osmosis. USDC, AXL, ETH, and WBTC.
USDC and AXL token users had similar activities in the last 4-5 months. Both of them are popular for Axelar satellite bridge users.
Almost 70-80% of weekly bridged were AXL. Users bridged AXL more in comparison to other tokens.
77% of transactions were AXL and 21% of transactions were USDC.
The average weekly number of transactions per user for AXL and WEBT increased but ETH decreased. Also, the average weekly number of transactions for USDC didn’t change too much.

THANK YOU FOR READING!

ALL CODES AND CONTENTS WERE WRITTEN BY HESS.

:bird: Twitter: @hessaminanloo

:t-rex: Discord: hess#0890

:calendar: Analyze Date: 2022/NOV/11

:key: Key Insights:

USDC with 28.9M US dollars was the top token and WBTC with 12K US dollars was less popular.
The average bridge volume of USDC was 5.7K per user weekly.
The highest volume of AXL and USDC was bridged on September 26 with nearly 5M US dollars.

:bar_chart: Charts:

Until late September, The Bridge Volume of AXL wasn’t too much. But after that time, The bridge volume of AXL increased. The highest volume of USDC and AXL was bridged in late September. About 1.9M AXL and 3.1M USDC bridged from AXelar Satellite to Osmosis. After that time, AXL volume decreased. The USDC volume had a huge difference from other tokens.
Since late August, The average volume of AXL increased. But the highest average volume was for USDC. The average weekly volume of USDC was 5.7K US dollars. WBTC with an average of 162 US dollars had the lowest average.

It is normal that swap has the highest number of users and transactions after the bridge. Because users chose an easy token to transfer but when they go to another chain, They need the chain's native token or other tokens that are supported only in that network. So As you have seen, Swap had the highest number of activities.

As you can see, Swap has the highest number of users after the bridge from the Axelar satellite. Following that, I extracted the top swapped from and to tokens. As you can see, Most users swapped from Atom, Osmo, and USDC to Osmo, AXL, and USDC.