Introduction

Sushiswap, utilizing a various liquidity pools offers a decentralized platform for trading, earning and borrowing. Sushiswap which was inspired by Uniswap is currently amongst the top 20 DEXes according to CoinMarketCap data (https://coinmarketcap.com/rankings/exchanges/dex/).

Uniswap is the most popular decentralized exchange. Its first version was launched in November 2018 and the second and third were introduced in May 2020 and May 2021 respectively. Uniswap and Sushiswap in many aspects are comparable.

This dashboard compare the popularity of these platforms by focusing on number of active users and number of swaps.

Definitions

• the daily(weekly) number of active user is defined as the number of wallets that committed at least one swap in a day (week).

Results

The graph below shows how the daily number of active users has been changed over time by platforms.

As can be seen:

• Sushiswap has been fluctuating at a constant level. However, since January 2022 has experienced a slight decline. However, a recent turn around is obvious.

• Uniswap-v2 has the highest number of daily active users amongst the three.

• Uniswap-v3 has a growing upward trend.

The graph below shows how the daily number of swaps has been changed over time by platforms.

As can be seen:

• Sushiswap has seen a declining trend since January 2022, while before that the trend was growing. it has the lowest number of daily swaps.

• Uniswap-v2 has the highest number of swaps amongst the three.

The graph below shows the dominance of three DEXes.

As can be seen uniswap-v2 and sushiswap is losing their dominance and the dominance of uniswap -v3 is growing in terms of number of active users.

In terms of number of swaps, uniswap (v2+v3) is dominant. The dominance of sushiswap is lower than 2021.

The two animation below shows how weekly number of active users as well as number of swaps have been changed over time.

Conclusion

Overall, the data shows that while sushiswap experienced a growth in 2021, in 2022 the trends are not growing.

Uniswap v3 has a growing trend which means that the platform can threaten the popularity of Sushiswap.

Further analysis should examine how projects like Bentobox has helped and can help sushiswap to change the trends.