I was listening to the LEO finance AMA on replay today, and one of the questions that came up was how much has the LEO bridge being used.
The answer was that it has some usage, but gas fees are preventing it to be used more extensively, and marketing hasn't begun until the swap caps are increased. However this got me curious on actually how much it is being used. So I looked up the contract address on ETH (its 0x7db1afc626fa16e6c35acc71ab98ffbfeb087ba8 for those that are interested), and I have provided a summary below of how much it is being used.
Number of transactions
There are total of 40 Successful transactions. there were a few unsuccessful ones, often due to the user being out of gas, or other reasons, but I have removed them for the analysis. the graph below shows how many transaction per day, and also unique user interactions with the contract.
As you can see there are some transactions by the same account o the same day, this might be people testing with low amounts, or splitting a larger amount under the swap caps.
Total unique users
I also looked at how many different user accounts have interacted with the bridge, and the total so far is 16 different ETH accounts, that means on average there are 2.5 transactions per unique user.
Value Transferred
The table below shows the total Value transferred which is over $75k
The graph shows the amount transferred by day
CUB Burned
So for every dollar transferred, 0.25% fee is used to burn CUB and LEO. For CUB, 80% of the fee is used for burning CUB. This means that approx. $151 worth of CUB has been burned, which at todays price is about 240 CUB.
Concluding thoughts
I think LEOfinance should be happy with the gradual adoption of the LEO bridge, and this is without any marketing effort and high gas prices, however its usage is not yet material enough to impact CUB prices yet, as the CUB burned to date, reflects about 20 mins of CUB inflation only.
That's not to say volumes won't increase, and the impact on CUB can be huge if this takes off.
For those interested in looking at the transactions themselves, feel free to visit the link
https://etherscan.io/address/0x7db1afc626fa16e6c35acc71ab98ffbfeb087ba8#tokentxns
All graphs have been produced by myself off the data from Etherscan