Introduction 💭

What is Axelar ?

Axelar network is a blockchain that connects blockchains, enabling universal Web3 interoperability. The network is secured using proof-of-stake consensus, and messages are routed and translated using permissionless protocols. As an analogy, Axelar is like Stripe for Web3. Axelar delivers secure cross-chain communication for Web3. Our infrastructure enables dApp users to interact with any asset or application, on any chain, with one click.

Axelar is composed of a decentralized network of validators, secure gateway contracts, uniform translation, routing architecture, and a suite of software development kits (SDKs) and application programming interfaces (APIs) to enable composability between blockchains. This allows developers to build on the best platform for their use case, while being able to access users, assets and applications in every other ecosystem. Instead of pairwise cross-chain bridges, they can rely on a network architecture that provides a uniform code base and governance structure.Axelar’s ultimate goal is to build the underlying infrastructure for onboarding the next billion people onto Web3. In order to achieve this goal, Axelar will:

1. Make it easy for blockchain developers to plug in and communicate with other chains.
2. Provide decentralized application (dApp) developers with cross-chain composability.
3. Allow users to interact seamlessly with applications across multiple ecosystems.

The Axelar SDKs provide a rich suite for developing Web3 applications, ensuring that developers have the tools they need for building. With these tools and APIs, developers can use the Axelar network and its SDKs to write dApps that can be easily deployed across all Axelar-connected ecosystems. In other words, Axelar distills cross-chain interoperability down to a simple set of API requests. This is absolutely central to adoption, as the developer experience around deploying Web3 applications must be like the experience today for Web2 developers, where the underlying networking and ecosystem-specific deployment considerations are largely abstracted away.

In this dashboard you will find out ✍

we will look into the activity of AXL token :

• Volumes

• Swaps

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

  QUESTIONS

1. Overview on $AXL token stats ?
2. Activity of wallets, are they holder or trader ?
3. Behavior Of AXL Buyers & Type of transactions ?
4. Average holding of $AXL token per wallets since last month ?
5. How is $AXL Being Used Within Osmosis ?
6. $AXL Balance on Osmosis and Axelar ?

Methodology 🧠

Tables we are going to use for analyze our data :

• Osmosis.core.fact_daily_balances

• Axelar.core.fact_transfers

• Osmosis.core.fact_transfers

1. The main tables that we are going to use for this bounty are osmosis.core.fact_daily_balances for $AXL balance of Osmosis wallets
2. osmosis.core.fact_swaps for $AXL purchasing and purchasers activity
3. axelar.core.fact_transfers and osmosis.core.fact_transfers tabels for flow of $AXL within Osmosis and Axelar.

$AXL token IBC address on Osmosis is ibc/903A61A498756EA560B85A85132D3AEE21B5DEDD41213725D22ABF276EA6945E and ‘uaxl’ is its labeled currency on Axelar chain.

Overview on $AXL token stats

• According to the above data, currently there are 2470 unique Osmosis wallet who are holding $AXL in their wallet.
• Moreover, there are total 5040 unique users who have purchased $AXL via Osmosis DEX.
• the total number of $AXL purchases via Osmosis is 21.1k and total purchased $AXL on Osmosis is 9.22M $AXL or 6.92M $USD.
• 695 users have deposited the purchased $AXL token in different liquidity pools via Osmosis.
• we can realize that almost %13.8 of AXL Buyers via Osmosis and more than %28 of all AXL holders are Liquidity Provider which is a good measure for health of this ecosystem

Activity of wallets, are they holder or trader

• According to the metrics most users hold their token between 3 to 7 days (35%) before they sell it
• Also we can realize that users with 1 - 2 days holding had the lowest share (18%) which is significant amount; these users are short-term Traders which more interest in 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 and it can be a good sign for ecosystem and stability.
• As we can see the duration of average holding time in last month decreased significantly from 12.23 to 3.76 (Almost %75) which show lower interaction over time

• According to the first charts the majority of $AXL purchasers (almost 58% of them) who have bought this token from Osmosis DEX are briding it to other places! (IBC Transfer Out).
• Also, we can see 33.9% of total purchasers have traded their purchased token after a while and there are only 341 purchasers (7.43% of total purchasers) who are holding their $AXL in their Osmosis wallet which
• 2.7% of users are providing liquidity with their purchased $AXL or transferring it within Osmosis chain (134 Address in total)
• Also from the metrics we reach that 65% of transactions done by $AXL are used to bridging out from the ecosystem
• On the other hand we can see 23.7% of transactions has been done in Axelar with total volume of 436M which is far from IBC_Transfers; generally it prove that users in Axelar had low transactions with high value

Average holding of $AXL token per wallets since last month

• Based on the charts, almost 45% of transactions are related to users who bridging out of osmosis ; these amount of transactions has been done by 52.5% of users who hold $AXL on osmosis
• The second most popular action with $AXL token on Osmosis is swapping it for other assets and the 3rd most popular action is providing liquidity.
• Transferring $AXL within Osmosis is the least popular action done by this token.
• Generally %34.8 of users are swapping their $AXL to other tokens on osmosis one of the main reason is about low fee transactions on Osmosis zone

• As we can see from the daily charts an decreasing trend has been started Sep 28th which shows that user interaction with $AXL goes lower over time
• WE can see the highest user transactions is 1400TX in total and till today it’s reached the lowest amount with 116 TX
• Also we can see the share IBC-Transfer over time increased from 39% to 87%
• On the other hand the share of users who providing liquidity with $AXL drop down over time from 45% to 10%
• Moreover, we can see the total number of actions with $AXL token on Osmosis is decreasing over time which shows that this $AXL token is losing its popularity on Osmosis chain and maybe gaining popularity on its native chain, Axelar.

$AXL Balance on Osmosis

• On the first daily chart we can realize that the the amount of $AXL increased very sharp which in first of October started with 800K and in OCT 29th reached 1.9M $AXL
• Moreover we can see on November this amount increased to 2.9M which means 3.5x times bigger in two month
• Moreover, we can see the majority of $AXL holders are just holding less than 10 $AXL in their wallet these users made more than 61% of users type and there are few number of holders (only 1.3%) that are holding more than 10000 $AXL in their wallet.
• Totally, we can see almost equal share of users with different type of $AXL balance on Osmosis over time and this metric were stable over time

$AXL on Axelar

• By analyzing the metrics we can find out we have 3850 unique $AXL holders which 2465 of this holders on the osmosis chain it means that 65% of the holders are centralized on the foreign chain
• Moreover, similar to the Osmosis chain, we can see the majority of $AXL holders on Axelar are holding only less than 10 $AXL in their wallet.
• Also the share of users who hold less than 10 $AXL is 20% more than Osmosis chain which prove that there are more normal users on Axelar compare to Osmosis
• Also the addresses with more than 1000 $AXL in Osmosis chain is double compare to Axelar

• As we can see from Jul 25th $AXL holders on Axelar started an increasing trend; the first spike happened on Sep 26th which cumulative holders rise up from 170 to 1550 $AXL holder and till today $AXL holders are 5555
• According to the metrics from Oct 3th till Nov 7th the chart was more sharpen which prove that more $AXL Holders come into Axelar
• Also Addresses with less than 10$ AXL had most growth between types of balance

• Based on the left chart, the majority of $AXL tokens in Axelar chain are flowing within Axelar itself (almost 99% all flowing $AXL tokens). Also, the total flow of this token within Axelar is way more than Osmosis.

  \

• on Osmosis, we can see most volume of $AXL token is being bridged out of this chain by IBC Transfer Out and 33% of all flowing $AXL are being transfered to Osmosis from other places. There are only 21.6% of $AXL tokens which are being transfered within Osmosis itself

Conclusion

• Most number of $AXL purchasers via Osmosis DEX have bridged this asset to other places and there are only 7% of purchasers who have held their purchased $AXL token

• Also Significant number of these purchasers have traded (swapped out) this asset

• 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. Also this amount decreased to average 3.75 days

• $AXL balance and holders on Axelar (the native $AXL chain) is more than Osmosis but the share of users with less $AXL balance on Axelar is more than Osmosis

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

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

• Transfer is the most popular action made by $AXL token in Axelar chain by its users

• The largest volume of transaction type is AXELAR

• Hope you Enjoyed 🖤

  \

  ✍️Contact Info!

  Discord : zhizhi1348#7806

  Twitter : @zhiyarrr1

  \