Top 10 Swaps

Top 10 assets swapped from

Top 10 assets swapped to

Daily Stats

Swappers Crossover

Swap Value Distribution

• About 88,400 Users used 3 DEXs (Uniswap, Sushiswap, and Velodrome) on Optimism in the past 30 days.
• 53.5% of these users (47,261) only used Uniswap for swapping.
• About 38% of DEXs users (33,396) had used Uniswap and Velodrome, and about 7% of them only used Velodrome.
• 969 users had used all 3 DEXs in the past 30 days.
• 272 users had used only Sushiswap for swapping.

• Uniswap had more than $813M swap volume on Optimism. Velodrome swap volume is $191M, and Sushiswap swap volume is only $242K in that same period.
• Uniswap has more than 80% of swap volume shares among those 3 DAXs.
• More than 1,100,000 swap transactions occurred on Uniswap (Optimism) in the past 30 days.
• More than 81K swappers used Uniswap, and more than 40K swappers used velodrome, while only 1580 swappers used Sushiswap in the past 30 days.
• On average, each swapper swapped about $10,000 on Uniswap, $4,700 on Velodrome, and $150 on Sushiswap.
• On average, $736 worth of assets are swapped on Uniswap per transaction. This amount for Velodrome is $427, and for Sushiswap is $66.
• On average, Each swapper on each platform had done 13.5 swaps on Uniswap, 11 on Velodrome, and 2.3 on Sushiswap.

• Maximum daily swap volume for Uniswap is $59M, which occurred on September 28th, and the minimum is $7.6M, which occurred on October 9th.

• Maximum daily swap volume for Velodrome is $14.9M, which occurred on October 25th, and the minimum is $2.6M, which occurred on October 9th.

• Maximum daily swap volume for Sushiswap is $18.3K, which occurred on October 15th, and the minimum is $1900, which occurred on October 5th.

• Uniswap daily swap transactions show a downtrend in the past 30 days, while Sushiswap shows an uptrend

• The number of swappers and transactions on Sushiswap show an increase in the past 30 days.

• Daily average volume of swap per swap transaction decreased on Uniswap in the past 30 days, while it increased on Sushiswap, and almost reached a plateau on Velodrome.

• 80% of the swap volume on Uniswap belongs to swaps with more than $2,000 worth of assets swapped, while these transactions are only 9.6% swap transactions on Uniswap.

• 78% of swap transactions on Uniswap are transactions with less than $200 worth of transactions, while only 5.5% of swap volume belongs to these transactions on Uniswap.

• 87% of swap transactions on Velodrome are transactions with less than $200 worth of transactions, while 26.3% of swap volume belongs to these transactions on Velodrome.

• 37% of swap transactions on Velodrome are transactions with less than $10 worth of transactions, while only 1.2% of swap volume belongs to these transactions on Velodrome.

• 74.3% of swap transactions on Sushiswap are transactions with less than $10 worth of transactions, while only 5.9% of swap volume belongs to these transactions on Sushiswap.

• 11.7% of swap transactions on Sushiswap are transactions with $50-$200 worth of transactions, while 46% of swap volume belongs to these transactions on Sushiswap.

• More than 97% of swap transactions on Sushiswap are transactions with less than $200 worth of transactions, while 62.5% of swap volume belongs to these transactions on Sushiswap.

• USDC to WETH and WETH to USDC are top swaps on Uniswap and Sushiswap by far in terms of both swap volume and swap count. (78.6% of top 10 swaps in terms of swap volume and 48.8% of swap transactions on Uniswap, 81.5% of swap volume, and 60.2% of swap transactions on Sushiswap) 

• In terms of swap volume, OP<>WETH, DAI<>WETH, WETH<>USDT, and USDC<>USDT are in the top 10 swaps on Uniswap.

• On Velodrome, USDC to OP and OP to USDC are top swaps before WETH<>USDC swaps in terms of swap volume. sUSD<>USDC, USDC<>SNX, MAI>USDC, and USDC>VELO are the next top swaps on the velodrome in terms of swap volume.

• In terms of swap counts, USDC<>WETH and USDC<>OP are top swaps, VELO>USDC, OP<>WETH, USDC>VELO, DAI>USDC and VELO>OP are top swaps on Velodrome.

• WETH<>USDC and OP<>WETH are 96% of top 10 swaps on Sushiswap in terms of swap volume.

• USDC<>WETH transactions are 60.2% of swap transactions on Sushiswap (among top 10 swaps), 11.6% are USDT<>WETH, and 10.4% are OP<>WETH.

• Top assets swapped from and swapped to both in terms of swap volume and transaction on Uniswap and Sushiswap are WETH and USDC. But on velodrome USDC and OP are top assets.

• WETH, OP, USDC, and DAI are common popular assets in all 3 DEXs both in swapping from and swapping to direction.

• VELO token is also popular on Velodrome.

Stats Overview

Introduction

In this dashboard, We will look at Uniswap, Velodrome, and Sushiswap DEXs on Optimism.

Dashboard sections

• Stats Overview

  • Swap volume and transactions and the share of each DEX
  • Number of swappers and the share of each DEX
  • Average of swap volume per swapper for each DEX
  • Average of swap volume per swap transaction for each DEX
  • Average number of swaps per swapper for each DEX

• Daily Stats

  • Daily value of metrics of the previous section
  • Daily share of swap volume, swap transactions, and swappers

• Swap Value Distribution

  • Distribution of swaps by swap volume and swap numbers - 2 categories

• Swappers crossover

  • Number of swappers on reviewed DEXs and user crossovers

• Top 10 Swaps

  • Top 10 swap directions on each DEX

• Top 10 assets swapped from/Top 10 assets swapped to

  • Top 10 assets swapped from and swapped to by swap volume and swap counts

• Summary

  • Summary of findings

• Methodology

  • Methods used in the dashboard

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All data and analyses presented in this dashboard are from the past 30 days.

Methodology

• Date of Analysis: 10/26/2022

• Sushiswap swap data were extracted from optimism.sushi.ez_swaps table.

• Velodrome swap data were extracted from optimism.velodrome.ez_swaps table.

• For Uniswap, I spent a lot of time and tried different approaches but none of them worked when I checked them with Uniswap Info. I also checked a lot of dashboards and all of them had a lot of discrepancies with Uniswap Info except for one dashboard. This user did a great job extracting Uniswap swap transactions from core.fact_event_logs table using Swap and PoolCreated events and Flipside’s uniswapv3 database models for Ethereum. I checked a lot of methods and only this method generated a reliable output. So I used this method by Forking the code in this dashboard.

• Two categories were considered for swap distributions:

  • Category1:
    • less than $10 / 10-50$ / 50-200$ / 200-500$ / 500-1,000 / 1,000-2,000$ / 2,000-5,000$ / More than 5,000$
  • Category2:
    • less than $200 / 200-500$ / 500-1,000$ / 1,000-5,000$ / 5,000-10,000$ / More than 10,000$

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Summary

• In all reviewed metrics (swap volume, swap transactions, number of swappers, average of swap volume per swapper, average of swap volume per swap transaction, and average number of swaps per swapper), Uniswap had the highest amount and Sushiswap had the lowest amount.
• We saw a slight uptrend in daily swap volume, transactions, and the number of swappers on Sushiswap in the past 30 days.
• On Uniswap, most swap volumes are from swaps with high swap value (80% of swap volume - more than $2,000 worth of assets), while on Sushiswap, 62.5% of swap volume were generated by swapping assets worth less than $200 in each swap transaction.
• More than 97% of swap transactions on Sushiswap are transactions with less than $200 worth of transactions. Sushiswap is not a popular DEX on Optimism. My previous dashboard compared this DEX on Ethereum and Optimism.
• About 88,400 Users used 3 DEXs (Uniswap, Sushiswap, and Velodrome) on Optimism in the past 30 days. 53.5% of them only used Uniswap, and 38% of them used Uniswap and Velodrome.
• USDC to WETH and WETH to USDC are the most popular swaps on Uniswap and Sushiswap. On Velodrome USDC to OP, OP to USDC are also popular as much as USDC<>WETH swaps.
• WETH, OP, USDC, and DAI are common popular assets in all 3 DEXs both in swapping from and swapping to direction.

My Tweet link to this dashboard: LINK