SushiSwap 🍣

SushiSwap (SUSHI) is a decentralized exchange (or DEX) built on the Ethereum network. Originally forked from Uniswap, SushiSwap leverages smart contracts in order to provide liquidity pools that allow users to directly trade crypto assets — with no intermediary. Users can also become liquidity pool providers, supplying an equal value pair of two cryptocurrencies in order to receive rewards whenever anyone utilizes that pool. It is a decentralized finance (or DeFi) protocol.

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Optimism 🔴

Optimism is a fast, stable, and scalable L2 blockchain built by Ethereum developers, for Ethereum developers. Built as a minimal extension to existing Ethereum software, Optimism's EVM-equivalent architecture scales your Ethereum apps without surprises.

Polygon 💜

The Polygon platform operates using the Ethereum blockchain and connects Ethereum-based projects. Using the Polygon platform can increase the flexibility, scalability, and sovereignty of a blockchain project while still affording the security, interoperability, and structural benefits of the Ethereum blockchain.

Arbitrum 💙

Arbitrum aims to reduce transaction fees and congestion by moving as much computation and data storage off of Ethereum's main blockchain (layer 1) as it can. Storing data off of Ethereum's blockchain is known as Layer 2 scaling solutions.

✍️ Description of Work

In this dashboard, we want to measure the number of new Optimism/Polygon/Arbitrum users having interacted with SushiSwap in any of their first two transactions. For this, we examine the following:

• Total number of new users on Optimism, Polygon and Arbitrum from 2022-06-01 onwards
• Total number of new SushiSwap users on Optimism, Polygon and Arbitrum from 2022-06-01 onwards
• Daily/Weekly/Monthly number of new users on Optimism, Polygon and Arbitrum from 2022-06-01 onwards
• Daily/Weekly/Monthly number of new SushiSwap users on Optimism, Polygon and Arbitrum from 2022-06-01 onwards
• Average Number of New SushiSwap Users /Day on Optimism, Polygon and Arbitrum from 2022-06-01 onwards
• Average Number of New SushiSwap Users /Week on Optimism, Polygon and Arbitrum from 2022-06-01 onwards
• Average Number of New SushiSwap Users /Month on Optimism, Polygon and Arbitrum from 2022-06-01 onwards

🧠 Methodology

To deal with this dashboard, we use flipsidecrypto schemas and tables to analyze and obtain results. Thanks to flipsidecrypto for providing the data.

• We use the optimism.core, optimism.sushi, polygon.core, polygon.sushi, arbitrum.core and arbitrum.sushi schemas available in flipsidecrypto data.
  • For Optimism, we use fact_event_logs== (In optimism.core schema), dim_dex_pools and ez_swaps (In optimism.sushi schema) tables
  • For Polygon, we use fact_event_logs== (In polygon.core schema), dim_dex_pools==, ez_lending, ez_borrowing and ez_swaps (In polygon.sushi schema) tables
  • For Arbitrum, we use fact_event_logs== (In arbitrum.core schema), dim_dex_pools==, ez_lending, ez_borrowing and ez_swaps (In arbitrum.sushi schema) tables

How to get the first and second transaction of each user?

First, we obtain the transactions of each user in the fact_event_logs table for each of the blockchains, then we rank the transactions based on the time of each transaction of each user:

row_number() over(partition by from_address order by min_block_timestamp) as row_num

Then we get the list of transactions of each user whose row_num is 1 and 2 (first and second transaction):

select * from result where row_num < 3

Now we have the first and second transaction of each user, now we consider several modes for SushiSwap transactions:

• Swap on SushiSwap, XSwap on SushiSwap, Liquidity Provider on SushiSwap, Lending on SushiSwap and Borrowing on SushiSwap

Swap on SushiSwap

• To check Swap on SushiSwap, we use the ez_swaps table for each blockchain and check the list of the first and second user transactions in this table and get the swap transactions that occurred in the first or second transaction of user.

XSwap on SushiSwap: With XSwap, Sushi now lets users bridge and trade tokens across the following chains: Ξ Ethereum, 🔴 Optimism, 💙 Arbitrum, 🟦 Fantom, 🟡 Binance Chain, 🔺 Avalanche and ∞ Polygon

• To check Swap on SushiSwap, we use the fact_event_logs table for each blockchain and check the list of the first or second user transactions in this table and get the transactions that occurred in the first or second transaction of user → origin_to_address = XSwap Contract Address
  • XSwap Contract Address On Optimism is 0x8B396ddF906D552b2F98a8E7d743DD58Cd0d920f
  • XSwap Contract Address On Polygon is 0xd08b5f3e89F1e2d6b067e0A0cbdb094e6e41E77c
  • XSwap Contract Address On Arbitrum is 0x53b08DbD70327b7Ba3B7886Fc9987BC985d27262
    • Sushi Docs

Liquidity Provider on SushiSwap

• To check the Liquidity Provider on SushiSwap in each of the blockchains, by using the dim_dex_pools table, we get the list of pool_addresses of SushiSwap, then in the fact_event_logs table, we get the list of transactions that are in the first or second transaction of user and related to Add Liquidity in SushiSwap.

Lending and Borrowing on SushiSwap

• To check Lending and Borrowing on SushiSwap for Polygon and Arbitrum, we use the ez_borrowing and ez_lending tables and get the transactions that occurred by the first or second user transactions.

Finally, after obtaining the total transactions related to SushiSwap that occurred by the first or second transaction of the users, we display the number of users in Total/Daily/Weekly/Monthly for each blockchain.

• For all three blockchains, Arbitrum, Polygon and Optimism, we have filtered data from ==2022-06-01== onwards.
• 🔄 All data will be updated daily

🔴 Optimism: 🍣 SushiSwap New Users - From 2022-06-01

✅ Observations

• As of 2022-06-01, the ratio of the number of new Optimism users having interacted with SushiSwap in any of their first two transactions to the total number of users is about 0.1%
• It can be seen that the number of new SushiSwap users on Optimism is increasing recently

💜 Polygon: 🍣 SushiSwap New Users - From 2022-06-01

✅ Observations

• As of 2022-06-01, the ratio of the number of new Polygon users having interacted with SushiSwap in any of their first two transactions to the total number of users is about 0.06%
• It can be seen that the number of new SushiSwap users on Polygon is decreasing recently

💙 Arbitrum: 🍣 SushiSwap New Users - From 2022-06-01

✅ Observations

• As of 2022-06-01, the ratio of the number of new Arbitrum users having interacted with SushiSwap in any of their first two transactions to the total number of users is about 7.66%
• It can be seen that the number of new SushiSwap users on Arbitrum is increasing recently

✔️ Conclusion

In this dashboard, after measuring the number of new Optimism/Polygon/Arbitrum users having interacted with SushiSwap in any of their first two transactions, we reached the following results:

• Less than 1% of Optimism and Polygon users interact with SushiSwap on their first or second transaction.
• More than 7% of Arbitrum users interact with SushiSwap on their first or second transaction.
• Recently, New users in Arbitrum and Optimism interact more with SushiSwap in their first or second transaction, and it is expected that this trend will continue to increase and more new users will enter Arbitrum and Optimism to interact with SushiSwap.