Symbiosis Monthly Milestones and Achievements - Statistics

DeFi continues to strengthen its position in the Web3 world - as more decentralized solutions arrive to the market, the need to go cross-chain becomes stronger and stronger. Symbiosis’ swaps and bridge operations grow and provide the excellence of the “any-to-any” exchanges to crypto folks.

Nothing speaks louder than actions and numbers!
We carried out an analytical research and prepared a report of monthly accomplishments and milestones that Symbiosis. Let’s see what was going on these last two months  

The list of utilized sources for this report include Symbiosis Dune, DefiLlama, Symbiosis internal database and our public explorer.

Symbiosis’ TLV Growth

Right in the beginning of June 2024 our cross-chain protocol reached the mark of $11+ million in the total value locked. New horizons for Symbiosis to go beyond and above!

With the amount of $3.2 million in TVL that we had this January, the growth resulted in more than 300% increase. Let’s see what the upcoming summer brings for our protocol 🐙

Overall Cross-Chain Growth 

In our report we compare the latest full-monthly time periods: January, February, March, April and May. Well, the numbers are in!

To break down this result let’s review the initial numbers. 

• Number of Monthly Cross-Chain Swaps

In the January period Symbiosis processed over 31 thousand bridge and cross-chain transactions, with reaching the mark of 53 thousand in March, then heading to 161981 cross-chain exchanges in May;

• Funds Amount of Monthly Cross-Chain Swaps

• Respectively, the 594,6% growth was recorded at the mark of the equivalent to $195 million in the processed cross-chain exchanges in May’ 24 - compared to the timeline of full January with just over $32 million in the amount. 

There are several factors that contributed to such results. The wave of Symbiotes that arrived to our ecosystem, new Symbiosis WebApp users, partners’ integrations and on-chain campaigns - all these events have definitely taken a certain place in the Symbiosis growth. Striving for the best experience and higher results!

For those Symbiotes that are fans of numbers and reports, head over to these posts in our Blog:

• Latest Digest of integrations and campaigns (beginning of June)
  
  

• Symbiosis Q1 2024 Recap
  

Networks With the Biggest Growth at Symbiosis

We love watching the blockchain networks reaching new heights at Symbiosis. Our report includes the same timeframes: January 2024 versus May 2024. Since we support over 30 chains including EVM and non-EVM ones, there are lots of milestones we can talk about. 

Let’s break them down into several categories.

Category 1 - Biggest Growth in Number of Cross-Chain Swaps

Top three scores include some of the biggest networks supported at Symbiosis. The list consists of such Layer 2 solutions as Scroll, Base and Arbitrum One. The whole trio showed some great results:

• One of the greatest contenders is Layer 2 network - Scroll. Last month the blockchain presented a 1240% increase in the number of processed cross-chain swaps (scoring 51 746 transactions versus 4 170 exchanges in January);
  
  

• Another great contender - Base, the Optimistic Rollup from Coinbase - rocketed with a 1515% growth rate in the number of cross-chain swaps, reaching the milestone of 31 942 in the period of 1-31 May (compared to January with 2 108 transactions);

  
  

• Arbitrum One is in the top monthly growthers as well. The network secured a 429% growth in the same category comparing the May and January timeframes (with 26 139 versus 6 081 swaps, respectively).

  
  

Category 2 - Growth Milestones of Swapped and Bridged Amount 

This category represents the blockchain networks that showed the biggest increase of the funds’ amount processed by Symbiosis. While the list was quite predictable, we have a new entry 

The top three list includes already mentioned Scroll and Base networks as well as Mantle Network and TRON, which is a Layer 1 blockchain that focuses on transforming the DeFi and entertainment spheres in the industry. 

Several events contributed to such results, and these numbers prove that the organic growth has connections with the rising popularity of DeFi and “any-to-any” swaps. Cheers to the cross-chain that people need and want!

Since its initial launch at Symbiosis, the TRON Blockchain has been recording a consistent increase - mostly due to its popularity as a solution for simple, secure and cheap transactions. Not to forget quite a big impact of USDT on TRON Blockchain as one of the main assets for cross-border transactions.

Keep it up TRON!

Category 3 - Most Used Networks in Month at Symbiosis

This part covers the blockchain networks that were in a big demand at Symbiosis in May. It’s worth mentioning that we have a newcomer in our Top 5 most used chains. Let’s check who are those:

• Expectedly, such Layer 2 solutions as Base, Scroll and Arbitrum One have entered the list of most utilized networks at Symbiosis. It means that users and developers performed the swaps and bridge transactions mostly from and to these chains;
  
  

• One of our debuts this year - Mode Network - has also entered the Top 5 most used networks this month. We’re here for the full Layer 2 experience with all pairs available at the Symbiosis WebApp.

Must Visit and Read

There are numerous ways to stay updated and track the volumes and growth of Symbiosis. While this report contains the information from the Symbiosis Public Explorer and our internal Database, the statistics are constantly updated at the analytical platforms.

Here are your best-to-read resources:

• Symbiosis at Dune. Review and research the data on Symbiosis swaps and transactions with a breakdown on several popular networks including Ethereum, Arbitrum, Avalanche, zkSync and many others. 
  
  

• Symbiosis DefiLlama space. There are lots of things that are happening in our ecosystem that are displayed and demonstrated in our DefiLlama page including the TVL growth 

Let’s Build Further and Stay Connected

While our team works to bring the best experience for Symbiotes and drive the borderless DeFi further, our community continues to contribute to the growth. Kudos to all of our users that put trust in Symbiosis and explore our ecosystem. 

Talking about exploring Symbiosis - don’t forget to check the Symbiosis WebApp to browse the collection of the available assets and tokens for swaps and bridges.  

There’s more to arrive from Symbiosis in the near future - let’s stay friends and keep in touch:

• Our X/Twitter

• Discord Community

• Telegram Chat

• Documentation