Description of work

In this bounty we want to review Sushi activity on Ethereum and checking how did the recent spike in market volatility affect the overall activity of sushi on Ethereum in the last three months. For this review, we want to analyze swaps and lendings in Sushi in the last three months. To do this, we consider the following:

• Swaps analyze in last 3 month for sushi on Ethereum
  • Per day ---> Number of Swap and Swap Volume (USD)
  • Per symbol ---> Number of Swap and Swap Volume (USD)
  • Per pair ---> Number of Swap and Swap Volume (USD)
• Lendings analyze in last 3 month for sushi on Ethereum
  • Deposit
    • Per day ---> Number of Deposit and Deposit Volume (USD)
    • Per symbol ---> Number of Deposit and Deposit Volume (USD)
  • Withdraw
    • Per day ---> Number of Withdraw and Withdraw Volume (USD)
    • Per symbol ---> Number of Withdraw and Withdraw Volume (USD)

Note

• We use the [ethereum.sushi] schema, [ez_lending] and [ez_swaps] tables
• We compare the prices of ETH and BTC in the last three months with swaps and lendings because they have the greatest impact on the market.
  • We get the ETH price from the [ethereum.core.fact_hourly_token_prices] table and the BTC price from the [thorchain.prices] table

1 ---> Swaps analyze in last 3 month for sushi on Ethereum

According to the results, it is clear that:

• The number of swaps and the volume of swaps before May 8 show a clear and constant trend on a daily basis
• It can be seen that after May 8, with a significant decrease in the price of BTC and ETH, the number of swaps and the volume of swaps are increasing sharply, and this increase reached its peak on May 11 and May 12.
  • The reason for this sharp increase is the number of swaps and the swap volume of the LUNA Crash and the unprecedented market fluctuations during this period.
• After Jun 12, we see an increase in the number and volume of swaps, which can be seen that during this period, BTC and ETH have a significant decrease in price, and this has caused this increase.

According to the results, it is clear that:

• In the chats above, Top 10 symbols with the highest number of swaps and the volume of swaps can be seen in the last three months. After WETH, it is observed that most of the FROM/TO StableCoins (USDC, USDT, LDO, DAI) have been swapped.
• This shows that with market fluctuations and lower prices of ETH and BTC, more users use StableCoins for swaps.

According to the results, it is clear that:

• Most pairs of swap symbols are related to WETH/USDC | USDC/WETH, WETH/USDT | USDT/WETH and WETH/DAI | DAI/WETH, and most are related to StableCoins
• On May 11, May 12 and June 13, with a significant drop in BTC and ETH prices and market fluctuations, swaps on the StableCoins pair are more pronounced than others.

2 ---> Lendings analyze in last 3 month for sushi on Ethereum

According to the results, it is clear that:

• With increasing market fluctuations and lower prices of BTC and ETH, it can be seen that the volume and number of Withdraw is increasing over time.
• Interestingly, on May 11, May 12 and May 13, with severe market fluctuations and LUNA Crashes, users only did Withdraw and no Deposit was observed.
• In the recent fluctuation and after May 18, the number of Deposits and Withdraw has decreased significantly, and on June 27, a significant Sharp of Withdraw is observed.
• The volume and number of Lendings are strongly dependent on the price of BTC and ETH. So when the prices decrease, the lendings increase and when the BTC and ETH prices increase, the volume and number of lendings decrease.

According to the results, it is clear that:

• The above results show the highest Deposit and Withdraw in the last three months based on the symbol. It can be seen that most users have done Withdraw and Deposit on StableCoins (USDT, USDC, DAI)

Conclusion

Due to the recent market fluctuations and the decrease in the prices of ETH, BTC and other Coins, the fear of users has been overcome and the number of swaps can be seen in the fluctuations significantly. Users also try to maintain their capital by swapping and withdrawing to/from StableCoins. The volume and number of lendings are strongly dependent on the price of BTC and ETH. So when the prices decrease, the lendings increase and when the BTC and ETH prices increase, the volume and number of lendings decrease.