Introduction

Welcome to the Axelar Token Transfer Volume Dashboard! With the launch of Squid Protocol, the General Message Passing (GMP) primitive has taken center stage in the world of cross-chain token transfers. Squid Protocol has revolutionized the way users can swap tokens between different chains with its frictionless, one-click experience. In this dashboard, we will analyze the impact of Squid Protocol on Axelar's token transfer volume via their native bridge Satellite. We will examine user growth for both Squid and Satellite since Squid's launch on Flipside supported chains, such as Ethereum, Avalanche, Binance, and Polygon. We will also explore whether Satellite's daily active users (DAUs) have remained loyal or have transitioned to Squid for their cross-chain transfers. Additionally, we will provide a user segmentation analysis of Squid to gain deeper insights into the user base. Get ready to dive into the world of cross-chain token transfers and see how Squid Protocol is transforming the landscape!

Definitions

General Message Passing (GMP): This is the primitive technology that enables cross-chain token transfers in the Axelar ecosystem. With GMP, users can move tokens between different blockchain networks with ease.

Squid Protocol: Squid Protocol is a new addition to the Axelar ecosystem that has brought GMP into the spotlight. It allows users to swap any token on their source chain for any token on their desired destination chain with just one click.

Satellite: Satellite is the native bridge of Axelar that facilitates cross-chain token transfers using GMP. With Satellite, users can transfer tokens between different blockchain networks.

Flipside Supported Chains: Ethereum, Avalanche, Binance, and Polygon are the four blockchain networks supported by Flipside that have integrated Squid Protocol for cross-chain token transfers.

Daily Active Users (DAUs): DAUs refer to the number of unique users who interact with a platform on a daily basis. In this dashboard, we will be examining the DAUs for both Satellite and Squid to understand user engagement and loyalty.

Token Transfer Volume: This refers to the total number of tokens transferred between different blockchain networks using either Satellite or Squid Protocol. In this dashboard, we will analyze the impact of Squid Protocol on Axelar's token transfer volume via Satellite.

User Segmentation Analysis: This analysis breaks down the user base of Squid into different segments based on demographic, behavior, or other attributes. By understanding the different segments of Squid users, we can gain deeper insights into the motivations and needs of the user base