INTRODUCTION

In this dashboard, we will examine the dex called Sushiswap in different chains, the name of these chains is Optimism and Ethereum.

And we will find answers to these questions.

• How has the ratio of liquid to staked OSMO changed overtime?
• Are the top 100 OSMO holders the same now as they were at the start of the year?
• What is the current average OSMO per wallet? How has that value changed over time? Plot average OSMO/wallet against user growth.
• Do wallets normally hold a majority of OSMO, or another token? How has this changed over time?

METHODOLOGY

Tables are used:

optimism.sushi.ez_swaps for sushiswap swap data and swap pairs.

optimism.core.fact_transactions for data of sushiswap transactions.

ethereum.core.fact_transactions for data of sushiswap transactions.

ethereum.sushi.ez_swaps for sushiswap swap data and swap pairs.

Tables are filtered by date >='2022-05-12' -- optimism swap data start on flipside

FINDINGS

In optimism, we can see the top 5 swap pairs on the left and the top 5 swap pairs in ethereum on the right. The most used pair in both is 'WETH-USDC'.

In optimism, the 'WETH-USDC' pair has a 43.6 percent slice among the top 5 and the second most used pair is the 'WETH-OP' pair with 20.9 percent.

In ethereum, the 'USDC-WETH' pair ranks first among the top 5 with a slice of 34.3 percent. It is followed by the 'WETH-USDT' pair with a percentage of 25.6.

FINDINGS

We can see the volume and swapper numbers of the swap pairs we selected according to the swap number on optimism. Although the 'WETH-USDC' pair was the first in the number of swaps, it could not be the first in volume and lost the first place to the 'WETH-OP' pair. There is a full 300k USD difference between them. The 'WETH-USDC' pair has a total of 9174 swap transactions,4143 swappers and its total volume is 702K USD.

In ethereum, these numbers are more proportional and the highest swap volume number is 30.4B USD, which belongs to the 'USDC-WETH' pair. And while the number of swappers of this pair is 241.7K, it is the first with 962K swaps.

FINDINGS

Total sushiswap fee on Optimism is 13.68 ETH. Average sushiswap fee on Optimism is 0.0407 ETH.

Total sushiswap fee on Ethereum is 15.45K ETH. Average sushiswap fee on Ethereum is 46 ETH.

FINDINGS

When we look at the tables above, we see the swap volume and swapper numbers in layer1 and layer2 of sushiswap. Sushiswap peaked on ethereum on June 12 and is worth 257M USD. The highest value reached in Optimism is 526K USD on June 1st.

When we look at the swapper numbers, ethereum started with high numbers and has a gradually decreasing wavy chart. In Optimism, there is a low acceleration increase graph. Optimism with 415 swappers peaking on June 1st. Among the restricted dates, the highest number of ethereum swappers is 5827 people.

FINDINGS

Average sushiswap transaction fee on optimism is 0.02111 eth.

Average sushiswap transaction fee on ethereum is 0.434 eth.

Total sushiswap transaction fee on ethereum is 3150 eth.

Total sushiswap transaction fee on optimism is 481k eth.

We see the swap volume and swapper numbers in layer1 and layer2 of sushiswap. Sushiswap peaked on ethereum on June 12 and is worth 257M USD. The highest value reached in Optimism is 526K USD on June 1st.

About swappers,Ethereum started with high numbers and has a gradually decreasing wavy chart. In Optimism, there is a low acceleration increase graph. Optimism with 415 swappers peaking on June 1st. Among the restricted dates, the highest number of ethereum swappers is 5827 people.

Optimism reached its peak value on June 1, and a total of 1013 swap transactions were made on this date. Ethereum, on the other hand, experienced its highest value on May 12 with 19,464K swap transactions. Optimism has a mediocre low-increment graph. Ethereum's chart is a low-decrease chart.

Fee per swap is higher because there are fewer swap transactions in optimism. The highest values ​​of these values ​​were experienced in June and July. And it reached 896K.

In ethereum, these values ​​are quite low because it has too many swap transactions. It hovers between 100 and 200.

In optimism, the 'WETH-USDC' pair has a 43.6 percent slice among the top 5 and the second most used pair is the 'WETH-OP' pair with 20.9 percent.

In ethereum, the 'USDC-WETH' pair ranks first among the top 5 with a slice of 34.3 percent. It is followed by the 'WETH-USDT' pair with a percentage of 25.6.

Optimism has a peak on June 1, and the total number of transactions made during this day is 487.8K. Ethereum also has a peak on July 26 and has 1.67M transactions.

While there are peak points in the number of sushiswap transactions in general on July 26 in ethereum, the peak points in optimism belong to June 1st.

FINDINGS

On the side we see the number of unique users by chains. We see several peak points in Ethereum, one of them is July 26, and the total number of users on this date is 961K. The other highest point is the date of August 4, and the number of users on this date is 715k. In Optimism, we see a very wavy graphic with more peak points. The highest peak in Optimism was on June 1, with a total of 106K users transacted today.

FINDINGS

Again, optimism has a peak on June 1, and the total number of transactions made during this day is 487.8K. Ethereum also has a peak on July 26 and has 1.67M transactions.

FINDINGS

As we can see in the fee per transaction, ethereum and optimism have parallel graphs, but we see an independent rise in optimism between June 16 and July 16. Since the number of transactions in optimism decreased between these dates, the fee per transaction increased.

What is Sushiswap?

SushiSwap is a software running on Ethereum that seeks to incentivize a network of users to operate a platform where users can buy and sell crypto assets.

Similar to platforms like Uniswap and Balancer, SushiSwap uses a collection of liquidity pools to achieve this goal. Users first lock up assets into smart contracts, and traders then buy and sell cryptocurrencies from those pools, swapping out one token for another.

One of a growing number of decentralized finance (DeFi) platforms, SushiSwap allows users to trade cryptocurrencies without the need for a central operator administrator. This means that decisions relating to the SushiSwap software are made by holders of its native cryptocurrency, SUSHI. Anyone holding a balance of the asset can propose changes to how it operates, and can vote on submitted proposals by other users.

What is Layer 2?

So what’s Layer 2 then?Layer 2 is a collective term for solutions designed to help scale your application by handling transactions off the main Ethereum chain (layer 1). Transaction speeds slow when the network is busy hampering the user experience for certain types of dapps, especially in DeFi and those related to gaming. And as the Ethereum network gets busier, gas prices increase as transaction senders aim to outbid each other. This can make using Ethereum very expensive.

So to summarize, we need Layer 2 because:

• Some use-cases, like blockchain games, make no sense with current transaction times
• It can be unnecessarily expensive to use blockchain applications
• Any updates to scalability should not be at the expense of decentralization of security – layer 2 builds on top of Ethereum.

What is Layer 1?

Layer 1 refers to a base network, such as Bitcoin, BNB Chain, or Ethereum, and its underlying infrastructure. Layer-1 blockchains can validate and finalize transactions without the need for another network. Making improvements to the scalability of layer-1 networks is difficult, as we’ve seen with Bitcoin. As a solution, developers create layer-2 protocols that rely on the layer-1 network for security and consensus. Bitcoin's Lightning Network is one example of a layer-2 protocol. It allows users to make transactions freely before recording them into the main chain.

FINDINGS

On the side, we see the daily swap numbers. Optimism reached its peak value on June 1, and a total of 1013 swap transactions were made on this date. Ethereum, on the other hand, experienced its highest value on May 12 with 19,464K swap transactions.

Optimism has a mediocre low-increment graph

Ethereum's chart is a low-decrease chart.

FINDINGS

When we look at the fee per swap chart, the fee per swap is higher because there are fewer swap transactions in optimism. The highest values ​​of these values ​​were experienced in June and July. And it reached 896K.

In ethereum, these values ​​are quite low because it has too many swap transactions. It hovers between 100 and 200.

TRANSACTIONS

SWAPS