Optimistic Sushi

    Show the contribution of SushiSwap to the growth of the Optimism user base.

    What is Sushiswap?

    Sushi is a well-supported token that works across multiple blockchain networks. It’s used as the primary currency of the SushiSwap decentralized exchange (DEX),1 a peer-to-peer exchange in which transactions occur directly between crypto traders.

    At the time of this writing, SushiSwap is the 142nd-largest cryptocurrency by market capitalization, according to the aggregator of cryptocurrency market data CoinMarketCap. Of the maximum 250 million token supply, 242 million have been created.

    What is Optimism?

    Optimism speeds up Ethereum transactions and cuts their costs by settling them on another blockchain using advanced data compression techniques.

    The special sauce to Optimism’s scaling methodology is in its name: it uses a technique called optimistic rollups, whereby multiple transactions are ‘rolled up’ into one transaction, settled on another blockchain, with receipts fed back to the main Ethereum blockchain. Optimistic rollups are a type of rollup that ‘optimistically’ assumes all transactions in the rollup are valid.

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    In this dashboard:

    we are going to find out the contribution of SushiSwap to the growth of the Optimism user base

    we are going to Measure the daily number of new Optimism users having interacted with SushiSwap in any of their first two transactions and

    What share of total daily new Optimism users do these new SushiSwap users represent?

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    Analysis I:

    In the first analysis, we are going to find out Total number of new users and active users on optimism

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    As we can see in the above analysis, we found out total number of new users and active users on optimism.

    The active users count is like ~25k and the new users count is 3.7k and the data is refreshed to daily basis.

    Analysis II:

    In the second analysis, we are going to find out Daily new users and Active users on Optimism

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    As we can observe in the left and above chart, we found out the daily new users and active users on optimism.

    We can see the daily number of active users and new users on optimism has increased over time.

    From the beginning of Jan to May the numbers are low to medium. But from July onwards it has slightly increased and on fewer days the numbers have risen to peak like on June 1st, 2022 the number of wallets is ~106k.

    Analysis III:

    In the third analysis, we are going to find out new and active sushi swappers on optimism

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    As we can observe in the left and above chart, we found out new and active sushi swappers on optimism.

    SushiSwap offers Optimism users a way to execute swaps with SushiSwap. In this section, we can see how the number of active swappers has changed over time on SushiSwap.

    As we can see on June 1st, the swap rate was high like around 415 and 400.

    Analysis IV:

    In the fourth analysis, we are going to find out Users growth on optimism based on sushiswap contribution

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    As we can observe in the left and above chart, we found user growth on optimism based on sushiswap contribution.

    It is rare for new users on Optimism to make their first transaction with Sushiswap.

    A total of 800k unique users have joined Optimism (up from 184k).

    As hundreds of thousands of new users flock to Optimism every day, Sushiswap contributes less than 1% to this total.

    As of May 13, Sushiswap contributes 0.1 percent of Optimism's user base.

    As of now, Sushiswap only has 500 or more registered users.

    Analysis V:

    In the fifth analysis, we are going to find out Sushiswap contribution on Polygon blockchain

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    As we can see in the left chart, we found sushiswap contribution on polygon blockchain along with optimism blockchain.

    Onboarded wallets on polygon blockchain is way more when compared to sushiswap blockchain. ~140k wallets have been onboarded where as in optimism its only 517.

    To Conclude:

    From the above analyses, we found

    The average number of users interacting with Sushiswap within their first 2 transactions on Optimism is less than 0.1%.

    Over the past 5 months, Sushiswap has contributed less than 0.1 percent to the growth of Optimism's user base. Instead, the top contributing projects are Uniswap and OP airdrops.

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    To find the data, we have used optimism.core.fact_transactions table to find out daily new users and active users on optimism and also to find the user’s growth on optimism based on sushiswap contribution.

    we have also used optimism.sushi.ez_swaps table to find the new and active sushi swappers on optimism.

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