Just Keep Swimming

    What Will You Read?

    In this analysis, You will Read about Swim Protocol. We want to know what is the total Volumes that bridged through Swim. Also:

    • Total unique users

    • Most popular destinations from Solana

    • Most popular stablecoins and non-stablecoins traded over time.

      What is Swim?

    • Swim Protocol provides a simple transfer of tokens across chains via multi-token liquidity pools. It is built on top of one of the most infamous bridges, Wormhole, which allows users to more seamlessly transfer assets across multiple blockchains

      \n Analyzed by Hess - Reading Time Almost 8 min.

    Method

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    Total Daily Volume and Share

    • The highest volume bridged on May 19th. Most volumes bridged in those days.
    • With 43% of the total volume, USDC is in the first place.
    • USDT, with 17% of the total share is in the third place.

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    Daily Unique users and transactions

    • Swim bridged more in March in comparison to other month.
    • More than 7.5K transactions by 3.3K users recorded on March 31th. The highest all time.
    • Since April 1st, The average number of transactions dropped to 200-300 tx.
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    Bridge to other chains

    • Polygon is the most popular chain that users transfer their tokens from Swim to Polygon. 50% of bridges belong to Polygon.
    • The first date of June, BNB chain added to Swim.
    • After June 24th, We can see Fantom and Aurora activities.
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    Stables Vs. other token

    • Stablecoins were in 4195 bridges whih is 99.5% of total transaction.
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    • First, I bridged USDC from Solana to Polygon to understand how swim works. * * *
    • I used solana.core.fact_events table and looked for SWimmSE5hgWsEruwPBLBVAFi3KyVfe8URU2pb4w7GZs. Also found token contracts on Swim and their network from documents. So I handed the code. After that I calculated all parameters.

    I DIDN”T FIND ANY ETHEREUM TRANSACTIONS. ALSO THERE WERE SOME UNnamE TOKEN THAT I CALLED THEM ‘Other‘.

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    Total Volume Per Token

    • USDC is the most popular token to bridge. Nearly 750M dollars bridged from USDC.
    • I put swim USD to other categories.
    • As I can see, Users bridged their stablecoin most.

    Conclusion

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    • USDC is the most popular asset to bridge.
    • Polygon is the most popular chain.
    • Users Bridge their Stablecoins higher than the other.

    Thank You For Reading!

    THE END

    ALL CODES AND CONTENTS PROVIDED BY Hess.

    Twitter_id: hessaminanloo

    Discord_id: hess#0890

    ENS: he3am.eth