Bounty #12 – Gas price impact on Uniswap

    -- A downside to using Ethereum is that block space is limited while demand for the network high, -- making gas costs for swaps significant for smaller trades. -- However, gas price (and thus costs) can fluctuate significantly between days and even months depending on usage. -- An example was the NFT sale earlier this month which resulted in gas price to rise to never before seen highs for a few hours. -- For this bounty, analyse the gas fees for Uniswap trades and the impact gas price and costs have on Uniswap. -- Topics to explore can be overall metrics such as amount of transactions, volume and size of trades, -- as well as deeper dives into the types of users affected.

    Methodology

    • To measure the impact of the Gas Prices, we calculate the average daily gas price from all transactions on Uniswap.
    • Then we look at various metrics like:
      • Number of wallets vs Gas Price GWEI
      • Number of Transactions vs Gas Price GWEI
      • Fees vs Gas Price GWEI
      • Swap Volume vs Gas Price GWEI
    • We clearly see the Gas prices shot up to never-seen amounts on May 01, 2022.
    • We are looking only at the past 90 days of data.

    Number of wallets vs Gas Price GWEI

    • The number of daily unique active wallets are usually ~200.
    • The number of wallets transacting with uniswap fell down to single digits with such high gas prices.
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    Number of Transactions vs Gas Price GWEI

    • The number of daily transactions have been decreasing from around 100K to 27K transactions.
    • The number of transactions with uniswap fell down to double digits with such high gas prices.
    • It just seems like transactions were not going through with such high gas prices.

    Fees vs Gas Price GWEI

    Swap Volume vs Gas Price GWEI

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    Fees vs Gas Price GWEI

    • The daily fee collected is around 2-3M $USD daily.
    • However, the fee fell down to around 7K with such high gas prices.
    • It just seems like transactions were not going through with such high gas prices which caused not enough fee to be collected.
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    Swap Volume vs Gas Price GWEI

    • The swap volume has been all over the
    • However, the swap volume also came to halt with swap volume reduced to around 100K for the day.
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