Try Quests to earn cryptoGas as a proxy of activity
Q89. How much did sushi users pay for gas in 2022? Is there a correlation with the price of ETH? Can you comment on the spikes in the chart?
Methodology:
On the Ethereum blockchain, gas refers to the cost necessary to perform a transaction on the network. Miners set the price of gas based on supply and demand for the computational power of the network needed to process smart contracts and other transactions.
The aim of this bounty is to find the total paid gas by Sushi users. Also, the daily paid gas is estimated in this dashboard.
The paid gas is compared with ETH price to find the relationship between them.
The ethereum.core.fact_transaction is used with consideration of destination as Sushiswap addresses.
The three main application of Sushi users are DEXs, Bentobox and Kashi. The paid gas for these purposes estimated too.
The total and daily gas paid by Sushi users are shown in these contents. As shown in the daily chart, the paid gas was at its maximum level on January 1st and decreased over time.
The ETH price is shown in this figure. As shown in this figure, the pattern of ETH price and paid gas are strongly correlated with each other. On January 1st the paid gas was 138 million and the price of ETH was over 3790 USD.
The paid gas by Sushi users and based on the application of Sushi programs is shown in this chart. As expected, the DEXs (swap and Lp providing) has dominated the paid gas and Bentobox stand in the second rank.