This dashboard is aimed to conduct an analysis on Axelar Token Launch by the activity within the AXL/OSMO pool (#812), as well as trading activity on the Osmosis DEX. 

What is Axelar?

Scalable cross-chain communication platform is Axelar network. It can be used by developers of blockchain platforms to effortlessly connect their blockchains to other blockchain ecosystems. Application developers can select the appropriate blockchain to host their applications on and can communicate with applications on any other chain using Axelar's cross-chain communication protocols to lock, unlock, and transfer assets. The Axelar platform enables users to interact with all applications throughout the ecosystem straight from their wallets by linking dapps with various blockchain ecosystems.

The Axelar network's native token is called AXL. The AXL token is capable of four crucial tasks. AXL is a means by which users can pay transaction fees and other network usage costs to the validators who manage the network. The AXL token supports four critical functions.  AXL is a means by which users can pay for transaction fees and any other fees for network usage to the validators who run the network.

What is Osmosis?

Osmosis is an advanced AMM protocol built with the Cosmos SDK, which implies that it makes use of smart contracts to set the price of digital assets, provide liquidity using a peer-to-peer (P2P) system, and execute trades between users. This method of operating an exchange platform is referred to as an AMM; it is a DEX protocol that values cryptocurrency assets in liquidity pools. Decentralized liquidity is promoted by adding tokens to these pools, and this liquidity is then utilized to assist trading on the exchange. Participating as a liquidity provider (LP) can earn you both trading fees and newly minted LP tokens as incentives for participation.

The Osmo token (OMSO) is a governance token that allows token holders to decide on the Osmosis protocol’s strategic direction and future modifications. Osmo is expected to be used primarily for the following purposes (but governance may decide to add or remove some of them). 

Methodology:

For this analysis, I will focus on 02 main aspects the activity within the AXL/OSMO pool (#812) and trading activity on the Osmosis DEX in terms of:

• The number of users interacting with the liquidity pool.

• The number of LPing transactions

• The LP amount

• Top 10 AXL LPers by number of transactions and amount.

• The number of swappers, swaps and amount

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Used tables:

• osmosis.core.fact_liquidity_provider_actions [1] for analyzing activity within the AXL/OSMO pool (#812)
• osmosis.core.fact_swaps [2] for analyzing trading activity on the Osmosis DEX

The “ibc/903A61A498756EA560B85A85132D3AEE21B5DEDD41213725D22ABF276EA6945E” is the contract address of AXL.

As I checked, there are 04 type of actions: pool_exited, pool_joined, lp_tokens_minted, lp_tokens_burned. Therefore, the key criteria we need to apply are: pool id = 812 and type of action = pool_joined. Regarding swapping activities, “to_currency” and “from_currency” are key to identify the type of swap (from AXL to OSMO & from OSMO to AXL).

1. Activity within the AXL/OSMO pool.

As Axelar Token Launch has just occurred recently, kindly note that the observation time is short, which is from 27 to 29 Sep. As can be seen, the number of LPers and LP transactions had a positive relationship. The number of LPers increased significantly and reached a peak of 45 users (OSMO) and 31 users (AXL) on Sep 27,2022, 20:00. Similarly, the number of LP transactions peaked at 55 transactions for OSMO and 42 transactions for AXL at the same time. From then on, both of them decreased dramatically, which were lower than 10.

Amount LPed for AXL was much higher than OSMO. In addition, both of them had a significant downward trend over time. Their highest points were at the beginning of this launch.

There is no direct relation between top 10 by number of transactions and amount of transactions. As a result, “osmo1wjjg0mvsfgnskjj7qq28uaxqwq5h38q68enshj” [3] is top 1 by number of LPing transactions and “osmo1z6mf937x9ug4ck7lt45f2wyrt9lnway68lpta9” [4] is top 1 by amount. The most interesting note is that there is a huge gap in the proportion of top 10 users by LPed amount when “osmo1z6mf937x9ug4ck7lt45f2wyrt9lnway68lpta9” contributed 90.6% in the total amount. On the contrary, top 1 user by LP transaction volume only accounted for 27.4% in the total transaction volume.

2. Swapping activities on the Osmosis DEX

The highest number of swaps from OSMO to AXL was 86 transactions on Sep 27, 2022, 16:00 whereas swaps from AXL to OSMO reached a peak of 15 transactions on Sep 27, 2022, 20:00. Regarding the amount, both of them peaked at 165.4K for swapping from OSMO to AXL and 152.4K for the other on Sep 27, 2022, 17:00. Users had a different trend, which increased slightly and then got the highest points of 43 (swap from OSMO to AXL) and 15 (swap from AXL to OSMO) on Sep 27, 2022, 20:00 before decreasing until now. Based on 03 charts, we can see that swapping from OSMO to AXL is more attractive than swapping from AXL to OSMO with higher number of swappers, swaps and swapped amount, which means that people currently  believe in the prospective of Axelar Token Launch.