Metamask swap feature

Users can swap crypto tokens in MetaMask using MetaMask’s in-built swap feature or using other Decentralized Exchanges (DEX) such as Uniswap, SushiSwap, ParaSwap, 1inch, or more. MetaMask gives the best swap price by combining all its decentralized exchange aggregators and individual DEX’s quotes whereas, in individual DEXs platforms such as Uniswap or SushiSwap, the best price is chosen from their own liquidity pools ---> Source

Description of work

In these Bounties we want to examine MetaMask users. We use the Metamask swap feature to find MetaMask users. We want to examine the following:

• How many total Metamask wallet holders are there?
• What’s the average value of ETH held in wallets?
• What percentage of wallets are engaging in a higher order activity, like staking?

Note

• We use [ethereum.core] schema, [ez_dex_swaps], [erc20_balances], [ez_nft_mints], [ez_nft_sales] and [fact_event_logs] tables
• The Metamask swap feature contract address is 0x881D40237659C251811CEC9c364ef91dC08D300C
  • etherscan
  • Metamask: Swap Router

1 ---> How many total Metamask wallet holders are there?

To do this we use the [ez_dex_swaps] table to find users who have interacted with Metamask swap. So we have:

• count(distinct origin_from_address) ---> Count Metamask users
• where
  • origin_to_address= '0x881d40237659c251811cec9c364ef91dc08d300c' ---> Interacted with Metamask swap
  • origin_function_signature = 0x5f575529 ---> Swap transaction list

According to the result, the total number of Metamask users is 1003479

According to the results, it is clear that:

• The number of Metamask users has been increasing from 2020 to the end of 2021 and is decreasing from 2022 onwards.

2 ---> What’s the average value of ETH held in wallets?

To do this

• Get the addresses of Metamask users according to the first part
• Then we calculate the average and total balance of these users for ETH using the table [erc20_balances].
• Finally, for a better comparison, we get the Top 10 wallets in terms of ETH balance

According to the results, it is clear that:

• The average ETH balance of Metamask users is currently 0.7660807786 and their total balance is 709225.327539691
• The address 0x9714d236493797eea2941988700cf710812a7b3f currently has the highest ETH balance among Metamask users with 12708.818257372 ETH. Approximately 1.79% of the total Metamask user balance belongs to this address
• Address 0xc9d3c0acc22938d735d891ec20e84e76e7c030d7 with 12000.477007919 ETH has the highest balance. Approximately 1.69% of the total balance of Metamask users is in the next rank

3 ---> What percentage of wallets are engaging in a higher order activity, like staking?

In this section, we look at a few:

• Mint NFTs by Metamask users
• Sales / Purchasing NFTs by Metamask users
• Staking ETH with Lido by Metamask users

3.1 ---> Mint NFTs by Metamask users

To do this

• Get the addresses of Metamask users according to the first part
• Then we calculate the number of Metamask users that minted NFTs using the table [ez_nft_mints]

According to the results, it is clear that:

• Out of 1003479 Metamask users, 308567 of them have minted at least one NFT, ie about 30.74% of the total number of users

3.2 ---> Sales / Purchasing NFTs by Metamask users

To do this

• Get the addresses of Metamask users according to the first part
• Calculate the number of Metamask users that sales NFTs using the table [ez_nft_sales]
  • count(distinct seller_address)
• Calculate the number of Metamask users that purchasing NFTs using the table [ez_nft_sales]
  • count(distinct buyer_address)

According to the results, it is clear that:

• Out of 1003479 Metamask users, 163316 of them have sales at least one NFT, ie about 16.27% of the total number of users
• Out of 1003479 Metamask users, 241518 of them have purchasing at least one NFT, ie about 24.06% of the total number of users

3.3 ---> Staking ETH with Lido by Metamask users

To do this

• Get the addresses of Metamask users according to the first part
• Calculate the number of Metamask users that Staking ETH using the table [fact_event_logs]
  • count(distinct origin_from_address)
  • where event_name = 'Transfer' ---> Staking
  • and event_inputs:from::string = '0x0000000000000000000000000000000000000000' ---> Send ETH to get stETH
  • and contract_address = '0xae7ab96520de3a18e5e111b5eaab095312d7fe84' ---> Lido: stETH Token contract

According to the results, it is clear that:

• Out of 1003479 Metamask users, 9483 of them have Staking, ie about 0.94% of the total number of users

Conclusion

According to the results from Section 3, it is clear that Metamask users are more inclined to Mint NFT (30.74%), then Buy NFT (24.06%), and finally Sell NFT (16.27%), and are less inclined to Stack (0.94%)