Bridge Analysis ( Flow)

    What Will You Read?

    • In this analysis, you Will read about Flow bridges. We want to know What tokens and blockchains are users interacting with when bridging to and from Flow? Also, What did users do before bridge out?

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      What is Flow?

      Flow is a new blockchain built for the next generation of apps, games, and the digital assets that power them.


      Analyzer: Hess - Reading Time Almost 10Min

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    Method

    • I found two types of tokens bridged from Flow and To Flow to another network. Some of them are Native and some of them are non-Native. I found Native token prices from the Flow price table and non-native token prices from the Ethereum price table.
    • There is a table in Flow tables that shows all inbound and outbound bridge transactions based on Tokens and Blockchains. I Joined two tables together and calculated the volume in USD.

    The below chart shows All related parameters from Flow ( Out Flow)

    • First, take a quick glance at the blockchains overview.

      Usage:

    • 45% of the total bridge was bridged to Ethereum, 40.8% to Solana, and 13.5% to BSC.

    • Users:

    • 48.1% of total users have used the bridge to Ethereum, 33.1% to Solana, and 18.8% to BSC.

    • Volume

    • 71.8% of total volumes bridged to Solana, 24.7% to Ethereum, and 3.53% to BSC.

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    The below chart shows All related parameters to Flow ( In Flow)

    • First, take a quick glance at the blockchains overview.

      Usage:

    • 44.7% of the total bridge was bridged from Solana, 27.9% from BSC, and 27.4% to BSC.

    • Users:

    • 43.9% of total users have used the bridge from BSC, 30.4% from Solana, and 25.7% to Ethereum.

    • Volume

    • 86.4% of total volumes bridged from Ethereum, 11.6% from BSC, and 2.05% from BSC.

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    Users’ Activities before bridges

    • Most activities occur in June.
    • Most Activities were Debit transactions and fees deducted.
    • Also, We can see Token deposits and withdraw were popular activities.
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    Users:

    • The most popular token is BLT.
    • 239 users bridged BLT from Flow.
    • The second popular token is RLY with 205 bridged.
    • Flow and Starly with 38 and 32 bridged are in the next places.

    Tokens Overview

    Volume:

    • The highest amount of token that bridged is BLT with 30M dollars.
    • The second one is REVV with 4.5M dollars.
    • The third is RLY with 3.3M dollars.
    • Flow and Starly with 2.5M dollars and 1M dollars are in the next places.

    Daily Volume of bridged from FLOW

    • Almost every day there were bridged to the Solana network.
    • The highest volume bridge to Solana on April 20 with 6.6M dollars.
    • After that volume decreased.
    • We can see the volume of bridged to ETH increased recently.

    Daily Users of blockchains:

    • The below chart shows the total daily number of users that used bridges to bridge from Flow.
    • Until June, Most users used bridged to Solana but after June Ethereum took Solana's place.
    • Also, You can see more activities occurred in June.
    • The highest number of users that used brides happened on June 29th with 34 bridged to Ethereum, 8 Solana, and 3 BSC.

    Tokens Overview

    Volume:

    • The highest amount of token that bridged is RLY with 71M dollars.
    • The second one is BLT with 10M dollars.
    • The third is REVV with 6.9M dollars.
    • Flow and Starly with 284K dollars and 1.8M dollars are in the next places.

    Users:

    • The most popular token is BLT.
    • 83 users bridged BLT from Flow.
    • The second popular token is STARLY with 42 bridged.
    • Flow and REVV with 22 and 16 bridged are in the next places.

    Daily Users of blockchains:

    • There isn’t One popular blockchain. Users have used all Networks.
    • The highest number of unique users occurred on May 11th and 12th.
    • May activities were higher than the other months.

    Daily Volume of bridged TO FLOW

    • The highest volume bridge From the Ethereum on June 29th with 45M dollars.
    • Almost users bridged high volumes from Ethereum.
    • The highest volumes bridged from BSC on April 20th with 1.5M dollars value.
    • On May 26th, The highest volumes bridged From Solana with 1M dollars value.

    Share of Activities

    • 20.5% of activities were Tokens withdrawn.
    • the same percentage for Fee Deducted and the same percentage for Token Deposited.
    • 17.4% were Joyride Multi token info events.
    • 15% were Credit Transaction Create.

    Conclusion:

    • At the first place, users activities are total different from bridging to and from Flow.

      To Flow:

    • Most Volumes came from Ethereum.

    • Most users have used Solana to bridge to Flow. The second one is BSC and the last one is Ethereum.

      Out Flow:

    • Most Volumes bridged out to Solana.

    • Most users have used Flow to bridge Ethereum.

    • Before Bridge, Most users transfer and swap their tokens.

    • BLT is the most popular token in and to Flow.

    > # THANK YOU FOR READING!

    All Code and Content Written by Hess

    Discord_id: hess#0890

    twitter_id: @hessaminanloo

    ENS: he3am.eth