Introducing the Axelar Risk Radar

We’re excited to announce that we’ve just released the IntoTheBlock DeFi Risk Radar for the Axelar ITS, providing key insights into the Axelar Interchain Token Service.

About Axelar ITS

Interchain Token Service (ITS) is now live on Axelar network mainnet. This service supports what will become a key component of DeFi — tokens that are natively multichain. One of the biggest issues developers face when implementing cross-chain tokens is that bridged assets lose their fungibility and their custom features. The Axelar ITS makes it easy to extend native-like qualities across 15+ blockchains, preserving customized ERC-20 functionality and protecting the fungibility of bridged assets.

The Axelar ITS Risk Radar

The IntoTheBlock DeFi Risk Radar provides insight into risk factors for numerous DeFi protocols. With the addition of Axelar ITS insights to the DeFi Risk Radar, users can now get insights into key metrics for the ITS. Let’s dive into some of the key indicators.

Track the Number of Token Deployments

With the IntoTheBlock Risk Radar, users can track the number of ITS token deployments per chain, providing insight into the health of the service and activity on specific chains.

Spot Token Transfer Delays

The Interchain Token transaction latency z-score provides insight into any potential delays Interchain Tokens may be experiencing between specific networks. A high Z-score indicates an unusual delay in token transfers, potentially signaling network congestion or other risks, while a low Z-score suggests faster-than-average transfers.

View Waiting & Orphan Transactions

The following dashboard shows the number of interchain transactions waiting to be completed. It shows details for each transaction, such as tokens and networks involved and the waiting time. This dashboard provides insights into the ITS cue and can help spot any issues with specific tokens or chains.

The Risk Radar also provides insight into orphaned transactions. These transactions are initially verified but later removed due to network issues. A high number of orphan transactions may indicate network instability, while a low number suggests a more stable network environment.

Track Top ITS Tokens

The final dashboard in IIntoTheBlock’s DeFi Risk Radar for Axelar is the token leaderboard. This dashboard provides insight into the tokens deployed using Axelar’s Interchain token service, ranked by their transaction count. This is a great way to keep track of usage and popular tokens on the ITS.

Token-specific insights

You can explore specific tokens in more detail using a variety of dashboards. For example, you can track the supply of a token across different chains, the transaction count per chain and the token-specific transaction volume. To do this, simply navigate to the token you’d wish to explore and you will be able to explore the token-specific dashboards.

Explore The Axelar ITS & Risk Radar

We hope you find these key metrics valuable for evaluating the Axelar ITS. We invite you to explore the metrics yourself and to learn more about the Axelar ITS.

If you have any suggestions or other metrics you’d like to see feel free to let us know and we’ll consider your comments as we keep building out the product.

Introducing the Axelar Risk Radar was originally published in IntoTheBlock on Medium, where people are continuing the conversation by highlighting and responding to this story.